Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-02-17
THE CURRENoY BILL.


An Acr TO FUND, TAX AND LINIF IHE CURRENCY.
IN. Congress of the Confederate States of Amsrea
10 enact ThA the holders CT all Treasury notes above
the denomination Of FIVE dollars not bearing interest
sn be allowed until the 1t day ct April 1854, east Of
tAs NJ ssissipp river and uut tho lat day OF July,
1854 west OF the Mississippi river 10 fund tho lame,
aus until tie periods and nc the places stated the hold
e of all such Treasury notes shall be allowed to fund
he same in registered bonds, payable twenty years
r their dates bearing interest the rate Of four per
cent per annum payable on the lst day Of January and
July OF each year
% Issue the bonds required fos The undDg provided for
in tbs preceding section and until the bonds can be
Dreparei he nav ssus certificates TIC purpose.
such bonds and Ger i6caes shall be receivable without
interest in payment Of al government dues payable II
the year 1864 except export and import duties
s. Tba all Treasury notes Of the denomination OF one
hundred dollars nos bearing interest," VII ca shall not
D. presented for funding undaf the provisions OF the
rst section OF this ac shall from and after the lst day
Of Apri 1864 Of the Mississippi river, aud the
av Of July 1854, west Of the Mississippi rVer to
% receivable in tue payment Of public dues aud said
sotss if not 80 presented 81 that time, shall, in addition
o the tax Of thirty three and onehird cents imposed
in the section OF this act be subject to tar Of ten
Der esai per month until so presented which taxes
;lsu ats ca 10 said notes wherever circulated and shall
De deduc ed em the face Of said notes whenever pre-
ented for payment or for funding and said shall
rot be exchsngeabs for the new issue OF treasury notes
provided for in this act.
That on al sAid Treasury notes no. funded or used
IA payment Of taxes az the dates and places prescribed
10 h 81 section Of this ac there shall be levied at said
iates and Places 4 tx OF thiry.three and one.thrd
cents for every dollar promised the face of taid
notes Sid tar shall attach said notes wherever cir
ca a,ed aad stall DC collected by Geductug the same
&C the Treasury iis deposiEore and by the tax col-
ectors and By all government ofiSers receiving the
same whenever presented for payment for funding
- or n Or
II exchange for notes IS hereinafter provided and
aid Treasury notes shall be fundable in bonds pro.
yded IN the first section OF this act until the LIST day Of
January 1865, a; the rate OF sixy-siX and tWothrd
cents on the dollar.
And il sbau he the duty of the Secretary Of the
Treasury at any time between toe sApr cast and tie
Juy 1864 Of the Mississippi river and the lst
January 1865 to substitute and exchange Treasury
notts for the same a. the rate OF sIty-sx and two
thirds cents tie dollar, provided that notes o. the de-
nomination Of hundred dollars sh,l not be entitled
u the privilege OF said exchange pyOVidsd further,
hai tao right ~ fund any of said Treasury notes afer
day January, 1865, is hereby AIKEN away, and pro
rilsd further that upon all such Treasu notes Wnich
nay remain outstanding the lst ia uary, 1885, Gnd
heh may be exchanged for new Treasury notes az
herein provided tax of one hundred per ssnt is here
by imposed.
S. That after the first day of April next eli authority
heretofore given 70 the Secretary Of the Treasury
isus Treasury notes shall be and is hereby revoked ;
prsvided the Secretary OF the Treasury may after that
oe ssgs ne~ Treasury NOES, in such forms a. be may
orescrbs payable two years after the ratification Of
treaty Of peace With the United States said issues
% be receivable in payment Of Sl public dues except
xport aud import duties, and to be issued in exchange
Cor old notes. at the ra,e Of two dollars Of the nav Tor
bIee dollars Of tbs old ssues whether Said old notes
% surrendered Tor exchange by tue holders thereof,
De received into the Treasury undeT the provisions Of
th act; and the holders Of the notes or Of the
ed nO.es, except thole Of the denomination of one
undred dollars after they reduced to sixty and
so-,hrd cents on the dollar, by the tax aforesaid may
convert the same ia call certificates bearing interest
Il the rate Of four per per annun, and payable
40 years after the ratification Of treaty OF peace with
-, United States, uness sooner converted into new
notes.
6. That 10 pay the expenses of the Government no.
otherwise provided for csetary Of the Treasury is
Aereby author zed 10 issue SIX per ceot bonds to
amount rot exceeding Ave hundred millions Of dola:E
BE- principal aud interest whereof shall bs free from
,xstion and for the payment of the interest thereon
ne entire net receipts Of eny export duy hereafter
LA on the value OF all cotton, tobacco, and naval
so-es, which shsl b. exported from the Confederate
Saes and ihe nes proceeds OF the impor. duties now
,ais or 80 much thereof al may be necessary TO pay
sntulry the interest, ere hereby sp ciny pledged,
provided that the duties now laid upon imports
aud hereby pledged shall hereafter be paid in species or
IN sterling exchange, or in the coupons OF said boHds
Z That the Secretary of the Treasury is here oy
airlOr.Eed, rom Tune 70 Ilnes Tue W %uS
treasury mar require Il, to sell or hypothecate for
Treasury notes said bon5s any part thereof upon the
oss terms be eau to meet appropriations BY Con
sress. and at the same time reduce and restrict t5e
mount of the circulation in Treasury notice within res
sonaole and safe limits.
Toe bonds authorised by the s!h section Of this
set may bs either registered coupon bonds, a. the
arties taking them may elect, and they may be ex-
changed for each Other under such regulations as the
Secretary OF the Trea-ury may prescribe. They shah
be for one hundred dollars or s5me multiple OF one
hundred doIars and SHAH together win the coupons
thereto attached, be in such form and Of such suthen-
eaton as the Secretary Of the Treasury may prescroe
Tse interest shall be payable half yearly on the lat
January and July in each yearthe principal shall oe
navable no. less than thirty years from their date
All call certificates shall DO fundable and shall be
taxed in all respects is provided for the Treasury
no.es into which they convertible. II no. con-
versed before the time fixed for taxing the Treasury
nOes such certificates shs from that time, bear inter-
est upon only sixysx and two third cents for every
do lar promised upon their face, and shall be redeem
able ony in Treasury notes as that rate but after
the passage Of this ac cal certificates shall be issued
until alter the Is. day of April 1884.
TO- That any bank Of deposit shall give it, deposit