The New York herald., 1864-12-04

VIA. legislation ssosssry TO remedy 10 evils and de-
ises Of ~ presest sysss q conscsipn
the COMMITTEES on Military Affairs % inquire into the
expedency procuring for the use Of the
a certain description OF 6rearms recently invented ana
Mr. Iyor. Of Ala, from the Committee 90 Ways and
hi 20 be entitled 40 &C. 90 provide more sasctu.
sy for the reduction and redemption Of the cusrency"
as q Us
payment FUN would be an inestimabs benefit 70 both
government and citissns; and Is means Tor scesnpsh
Ing this end sxpediens 70 exempt the same from tax
alton, and to pledge the public faith not only sganss
any addition 70 the amount OF the currency nov auhor.
annually matsral part thereof and 70 ths dedcaion OF
an fund for redseming the residue 20 be applied TO
that purpose from and after the close Of the existing war
The Congress- or tho Confederate States Of America do
Fec ana Se ;1s as oa
standing and f such as arc authorized by cxsung Aws
TO the said notes. except those issued Etior 70
SCI Sec !. Pending the war. ous-nnh q tho Treasury
notes annually received into the Treasury 10 pay mens OF
taxes shall hsreupou cancelled, until the amount out.
Standing shall have been reduced TO one hundred ana hy
Sec :. Upon declaration Of peace between tho Con.
federate States and the United States OF Amerca the
nrosuos Of cotton Tohsr than sea island Coon) wheat
and corn the ratio OF four rnths OF cotton four
and oneninIh OF wheat shall oe applied 70 me
redemption the Treasury notes In circulation until the
whole shall borodccmed the tths Of cotton being valued
at fifty cents pound of corn q two dollars oasne
and Of ct four dollars bushe and being deliver.
able BY the government more shipping ports 10
each Of Confederate Sates to be selected by the
ne snS n,r b.seo Sy
the parties entitled TO receive the same, be delivered
than :. ' soas1 s
this act shall be equal 10 ctton classed ana ned %
mddug co.on" In tho port where such cotton may DO
Sec That all acts and parts Of acts nov 10 force pro
vdng the assessment and collection or tax 10 kind OF
re and shall continue In forco until oil Treasury
Issued or authorized to be issucds by ian act to
ress .nS sS'
have redeemed full and the persons paying taxes
IN kind under this act from and after ratification Of
Of any cotton, and wheat Delivered after the
termination q the war; 70 e,uaze their taxes with
other the value 70 be q tho time
Of delivery in the mode prescribed BY law
Sec The holders OF Treasury notes desiring to re-.
vert the same into Treasury ceiacaer, bearing an
erest OF six per cent per annum which shall Do issued
notes and shall express on their face the object for
which they intended the holders OF which said cer
tncates shall be entitled to receive payment therefor 10
annually Provided however, that more than one nth OF
tho amount Of he due any such certificate, or the
whole OF snch amount may be paid 10 any year. a. the
election Of the Secretary OF the Treasury. ..g.
Sec g. All planters farmers liable 70 the tax 10 kind
shall be permitted 70 satisfy tho same BY payment Of
Sc T. Certificates is ued under the authority OF this
.a shall % = 20
min pay able In and ninth payable n wheat
but the to made payable the face o. each
certificate shall such the Secretary OF the Treasury
shall Judge be most suitable and convenient for the
purposes Of this actwhch said certificates shall be
sgnabie 10 writing In such form and with such auhsu
cation tho Secretary Of the Treasury may prescribe
Sec g. The public faith hereby pledged 70 the I'm.
mutable observance provision herein above
taiped and to the collection Of tho wheat
and cotton In kind and the application thereof
said until the redemption OF tho currency a. above pro
vided, shall have been completed. m9
Sec. .. TINS act shall be in force from The psssng
thereof.
Tuesday next and from day 10 day until disposed Of and
ordered 10 be printed.