The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-29
!REDUCE TEE CURRENCY,
- -, ;ee.,. EFF A,afes .x.l Raxads

mali De allowed until the ISt Jay
of the Mississippi river, and un-
ffuly, 1864. west of the Mississ.
the same, and until the periods
stated. the holders of all such
III be allowed to fund the same in
Payable twenty years after theii
rest at the rate of four per cent
e on the let day of January and
81 Of the T'reasuary is hereby au-
the bonds required for funding
preceding section, and until the
cared he may issue certificates to
81 Such bonds and certificates
without interest in payment of all
] ayable in the year 1864. except
inties.
sury notes of the denomination
Jars not bearing interest. which
pd for funding under the provis-
SION of this act, shall, from and
II April. 1864. east Of the Miss
] 10 first day of July. 1864. west
liver, cease TO be receivable in
slic dues, and said notes if not so
8 me. shall, IN addition to the tax
SHe third cents imposed in the
IF. be subject to a tax of ten per
pfNsepted which taxes shall at
Rrever circulated. and shall be
ace of said notes whenever pre-
or for funding, -and said notes
geable for the new issue Of
ided for in this act.
81 Treasury notes not funded or
axes at the dates and places
section of this act, there shall
rs and places tax of thirty
eents for every dollar promised
notes. Said tax shall attach to
circulated, and shall be collec-
same at the Treasury, its de-
tax collectors, and by all Gov
wing the same. Whenever pre-
or for funding, or IN payment
or for postage. or in exchange
latter provided; and said Urea
indable in bonds as provided in
Is act until the LIST day of Jan
ate of sixty-six and wo-third
duty of the Secretary Of the
between the LIST April east,
f.~west of the Mississippi river.
1865, to substitute and ex-
notes for the same. at the rate
birds cents on the dollar. pro-
we denomination of one hundred
titled to the privileges of said
Further, that the rightto fund
lptes after lst day of January.
away; and prouided, further,
sa~ury notes which may remain
.t January. 1865, and which
d for new treasury notes as
of one hundred per cent. is
4 day of April next all author
|gk' the Secretary of the Treas
NOTES shall be and il hereby
the Secretary of the Treasury
issue new treasury notes, in
prescribe. payable two years
# a treaty Of peace with the
4w issues to be receivable in
dues except export and i'm
issued in exchange for old
3 % dollars Of the new for three
$. whether snid old notes be-
tge by the hnldrrs thereof, or
'asury under the provisions |
lders of the new notes or of !
nose of the denomination of
ter they are reduced to six
cents on the dollar. by the
vert the same into call certi-
4 at the rate of four per cent.
astwo years after the ratifi |
ace with the United States,
a into new notes.
expenses of the Government |
for. the Secretary of the
.horized to issue six per cent. |
pt exceeding five hundred |
he principal and interest |
from taxation, and for the |
thereon, the entire nett re-
y hereafter laid on the value
nd naval stores, which shall |
sanfederate States, and the
port duties now laid. or 81
necessary to pay annually
specially pledged, provided
upon imports and hereby |
De paid in specie. rim ster-
coupons of said bonds.
eftke Treasury is hereby
p time, as the wants of the
it, TO sell or hypothecate. |
bonds or any part thereof |
e can, so as to meet appro-
nd at the same time reduce
of the circulation in treasu-
,le and safe limits.
I'd by the 9th section of this
,sed or coupon bonds, as the |
elect and they may be ex-
under-such regulations "a |
ssury may prescribe. They |
dollars. or some multiple |
ard shall. together with the |
IA be in such form and of |
lie Secretary of the Treas
j interest shall be payable |
January and July in each
Il be payable not less than
ate.
shall be fundable. and shall |
as is provided for the Trea-
ey are convertible. If not |
81 fixed for taxing the Trea-
stes shall, from that time. |
sixty-six and two third
:mised upon their face, and
IN new Treasury notes at |
as.sage of this act, no call |
u until after the LIST day of |
f deposit shall give its de-
szed by the LIST section of
heir deposits, and specify
some distinctive mark or
with the Secretary of the
.positor shall be entitled to
ga bonds in Treasury notes
outstanding at the passage
said bonds are presented
funding said notes at par
ribed.
4sfstes heretofore issued of