The daily clarion. [volume] (Meridian, Miss.) 1863-1866, 1864-04-03

u IhO AIcdouIy mayt dIteT Cu1G tiuiO'
issue new Treasury notes in such forms
az he may prescribe, payable two years
after the ratification of treaty of peace
with the United States, said new issue
to be receivable in payment of all pub
lic dues, except export aud import dn.
ties, and to be issued in exchange for
old notes at the rate of two dollars of the
new issue for three dollars of the old is
sues, whether said old notes be surren-
dered for exchange by the holders there
of or be received into the Treasury un>
der the provisions of this act aud the
holders of the new notes or of tue old
notes. except those of the denomination
of one hundred dollars, after they are
reduced 66 and two-thirds cents on the
dollar by the tax aforesaid, may convert
into call certificates bearing interest at
the rate of four per cent, per annnm,
aud payable two years after ratifca>
ton Of treaty of peace with the Uni
ted States, unless sooner converted iuto
new notes.
Sec. 6. That to pay the expenses of
5he Government. not otherwise provided
for, the Secretary of the Treasury is
hereby authorized to issue six per cent
bonds to an 9;nount net exceeding five
hundred millions of dollars, the princi.
pal aud interest whereof shall be free
from taxation and for the payment Of
the interest thereof, the entire net re-
/ ceipts If any export duty hereinafter
laid on the value of all cotton, tobacco
aud naval stores which shall be exported
from the Confederate States. and the net
proceeds Of the import duties now laid
on SO much thereof as may ba necessary
I to pay the interest hereby specially
pied sed Provided, That#he duties now
laid upon iniports aud hereby pledged.
shall hereafter be paid in specie or in
sterling exchange, or in the coupons of
said bonds.
Sec Z That the Secretary of the
Treasury is hereby authorized from time
TO time, as the wants IF the Treasury
may require it. to sell or hypothecate
for Treasury notes. said bonds or any
part thereof. upon the best terms ne
can, so as to meet appropriations By
Congress. and at the same time reduce
and restrict the amount OF circulation in
Treasury notes within reasonable and
safe limits,
Sec. s. The bonds authorized by the
sixth section Of this act may either BE-
registered or coupon bonds, as the par,
ties taking them may elect and they
may be exchanged for each other under
such regulations as the Secretary of the
Treasury may prescribe ; they shall be
for one hundred dollars. and shall, with
the coupons thereto attached, be in such
form and of such authorization as the
Secretary of the Treasury may pre-
scribe; the interest shall be payable halt
yearly, on the lst Of January and July
in each year the principal shall be
payable not less than thirty years from
their date
Sec. 9. All certificates shall be fund
able, and shall be taxed in all respects
as is provided for the Treasury notes
into which they are convertible, if not
converted before the time fixed for tax
ing the Treasury notes. Such certif-
Gates shall from that time bear interest
upon only sixty six aud two-third cents
for every dollar promised upon THEN
fooo ond el.all no ra1aamobla oplv ir
new Treasury notes at that rate, but af
ter the passage of this act no call certif
Gates shall be issued until after the Is
day of April, 1864.
Sec. TO- That if any bank of deposi
shall give its depositors the bonds au
thorized by the first section iu this act
in exchange for their deposits, aud spe>
city the same on the bonds by some dis
tinctive mark or token, to be agreed up
on with the Secretary of the Treasury
Il the said dannSitnrS shall he aniiLlad r.