Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1864-03-02
interest, which shall not be presented for

iuttTeSG, Wulcu Sudll uOI w preSeuIeu lOr
funding under the provisions of the first
section of this act, shall from and after the
first day of April, 1864, east of the Missis.
sippi river, and the 1st day of July, 1864,
west of the Mississippi river, cease to be
receivable in the payment of public dues,
and said notes, if not SO presented at that
time, shall, in addition to the tax of thirty
three and one third cents imposed in the
4th section of this act, be subject to tax
of ten per cent a month until so presented,
which taxes shall attach to said note wher.
ever circulated, and shall be deducted from
the face of said notes whenever presented
for payment or for funding, and said notes
shall not be exchangeable for the new issue
of Treasury notes provided for in this act
4. That on all said treasury notes not
funded or used in payment of taxes atithe
dates and places prescribed in the 1st sec.
tion Of this act, there shall be levied at
said dates and places tax of thirty three
and one third cents for every dollar prom.
ised on the face of said notes, said tax shall
attach to said notes wherever circulated,
and shall be collected by deducting the
same at the Treasury, its repositories, and
by the tax collectors, and by all Govern
ment officers receiving the same, whenever
presented for payment, or for funding, or in
payment of Government dues, or for post
age, or in exchange for new notes as herein
after provided; and said treasury notes
shall be fundable in bonds as provided in
the first section of this act, until the LIST day
of January, 1865, at the rate of sixty six
and two thirds cents on. the dollar.
And it shall be the duty of the Secretary
of the Treasury, at any time between the
1st April east, and the LIST July, 1864, west
Of the Mississippi river, and the lst Janu-
ary, 1866, to substitute and exchange new
treasury notes for the same, at the rate of
sixty six and two thirds cents ON the dollar,
provided that notes of the denomination Of
one hundred dollars shall not be entitled to
the privilege Of said exchange; provided,
further, that the right to fund any of said
treasury notes after LIST day of January,
1866, is hereby taken away; and, proui.
ded further, that upon all such treasury
notes which may remain outstanding on the
1st January, 1866, and which may not be
exchanged for new treasury notes as here
in provided, a tax of one Auao1red per cent.
is hereby imposed. ".
S. That after the LIST day Of April, next,
all authority therefore, given to the Secre-
tary of the Treasury to issue treasury notes,
shall be and is hereby revoked /; Provided,
the Secretary Of the Treasury may, after
that time, isspe new treasury notes, in such
forms as he may prescribe, payable two
years after the ratification of o treaty of
peace with the. United States, said new is.
sues to be receivable il. payment of all pub.
lie dues except export and import dues,
and to be issued in exchange for old notes,
at the rate of two dollars of the new for
three dollars of the old issues, whether said
old notes be surrendered for exchange by
the holders thereof, or be received into the
treasury under the provisions of this act;
and the holders of the new notes or the old
notes, except those of the denomination of
one hundred dollars, after they are reduced
to sixty six and two thirds cents on the dol
lar, by the tax aforesaid, may convert the
same into call certificates, bearing interest
at the rate of four per cent. per annum, and
payable two years after the ratification of
a treaty Of peace with the United States,
unless sooner converted into new notes.
6. That to pay the expenses of the Gov.
ernment not otherwise provided for, the
Secretary of the Treasury is hereby author
lied to issue six per cent bonds, to an
amount not exceeding FIVE hundred millions
of dollars, the principal and interest where.
of shall be free from taxation, and for the
payment Of the interest thereon, the entire
nett receipts of any export duty hereafter
laid on the value of all cotton, tobacco and
naval stores, which shall be exported from
the Confederate States, and the nett pro.
ceeds of the import duties now laid, or so
much thereof as may be necessary to pay
annually the interest, are hereby specially
pledged, provided that the duties now laid
upon imports are hereby pledged, shall
hereafter be paid in specie, or in sterling
exchange, or in the coupons Of said bonds.
7. That the Secretary If the Treasury is
hereby authorized, from time 10 time, as the
wants of the Treasury may require it, to
sell or hypotheoate for Treasury notes said
bonds or any part thereof, upon the best
terms he can, 80 as to meet appropriations
by Congress, and at the scme time reduce
and restrict the amount of the circulation
in Treasury notes within reasonable and
safe limits. --.
8. The bonds authorized by the 9th SEQ.
tion of this act, may be either registered or
coupon bonds, as the parties 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, or
some multiple of one hundred dollars, and
shall, together with the coupons thereto at
tached, be in such form and of such authen-
tication as the Secretary of the Treasury
may prescribe. The interest shall be pay.
able half yearly, on the LIST of January and
July in each year-the principal shall be
payable not less than thirty years from their