Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-02-22

az Acr TO FUND, TAX ASD LIMIT THE .cuE.
RgVCY

tA-of iAt1Le1tt 1li+lA 10
she last day OF April. 1864, east Of the Nissis-
sippi river, and Rniil the 1st day Of JalY, 1854,
west Of tbs Mississippi river, 70 fund ihs same
and uHtil the PeFisds and al tbs places stated
the holders Of al such treasury notes shall be
allowed 10 fund the ssnia in registered bonds
payable twenty years Aiter their dates, bearing
iHtaress st the rats Of tour Dor cent. per ann1un
payable on the Ist day Of JRnuaTY and July OF
each year.
2 The Secretary Of, the treasury is hereby an
thoriz Sd 10 Issue the Bonds required for fznding
provided for IN the pTOc0di5g section, and until
the bonds can be prepared ho msy issue carii6-
Gates to answer the purpose. sueh bonds aud
certificates shall he receivable without iateTsst
ia payment of al GSveTazaant dues payable IN
the yssr 1854 except expert sHd import duties.
g. That all treasury notes Of the den0minz-
ton of ons buR5red dollars, not bearing inter-
est, which shall n0t be presented foT funding
uadsT the provisions of the first section OF this
net. shsll fron and after thu FIRST day Of April
1854, esst Of the Mississippi river, and the afss
day of July, 1854 vest Of tae Mississippi river,
eease to be receivable in The psymsSt Of public
dues, and said netes, if not 30 presented at taas
tme shall, in addition to shs tax OF thirty three
aad sns-thTd eanIs imposed u Ihs All section
Of this act. be subject to a lax Of tsa per esut
per month Hnfil 50 presented Hnich taxes Snail
attach &c skid note wherever circulated, and
shall be deducted from the face OF SAID notes
Whenever presented for payment OF for fanding
and said notes shall not be exehaBg5s5l fer the
new issue Of treasury notes provided for Ia this
ssk.
4. That on sIl said traazugy notsB not funded
or used IN payment Of tsEes al tae dates and
places prescribed IN the 6rat section Of this set,
sheTe shall be levied st said dates snd places
tax of thirsy-ti.Tes and one third cents for sFerg
dollar promised ON the face OF said notes, Bsid
tx shall attach 50 said notea wherever circgia-
ted, ard shall be collected by dedsetiug tha
sAms st the Treasury, is depasisorias, and by
the tax collectors, and BY ali Government OH
sera Esesiving tke sam0, whenever presented
fer payment, or for funding, or IN payment OF
GovernmsnE duties, or for postage, or IN tx-
change for new neteg rs hereinafter provided;
and said Treasury notes ahsil be lundabls ID
benda as provided in the first ssclioa of ihis
act until the first day Of January, 1865, a. the
rate of sixty-Bix and tw0-thiTd esnts Or the dol
lar.
And # sksll be the duty of the Secretary Of
the Treasury at any time betwean the lst Of
Asril essl, ssd the lst OF July. 1854, wsss OF
the Mississippi river, and The Ist o January,
to substitute and exchange new treasury notes
for the aamo, at the rate OF sixty-six and two
third cents or ths dollar, provided That nutos
of the denomination Of one hundred dollars
change; provided, further, that the right TO fund
any Of said treasury notes after ths lst day Of
January, 1865, is hereby taken away ard pro-
yidsd, farther, that upon oil such treasury nOtea
which may remain outstanding on ths Isl Of
January, 1865, and which may not be ex-
changed for new treasury notes as herein pro-
vidsd, tax Of one hundred per CENT. is hereby
imposed.
That after the Ist day Of April nezt all au-
..k,E-.
Treasury 20 issue treasury ncies shall be and s
hereby revoked: Provided, the Secretary Of tha
Tfe ,sury may, after that time, issue new trsas-
ary Eotes, IN sucn forms as he may prescribe
payable two years after ths rsddeatian of
tEoatF of'Peses Ei a the United Ststas, SAID
new issues 80 be receivable in payment of sli
pubEc dues exceBt export SUD import dues, AID
to % issCed in exchange Tor old notes, At tbs
rlse Of two dollars If 5as new tor thEs3 d1ilarz
OF the old Hsuss, whether said old noses be sur
rendered Tor exchange by the hoidaIR thoreOf or
be received into the treasury under the Drovis-
i1ns OF this set; and the holders of the new notes
ezcept those Of the denomination Of oae hun
dTed dallsTs, after they are reduced 20 5iEty-siz
and tWg-thirds ceuta on The dollar, By the tax
aforesaid, may convert the same into call esrti-
icsias, bearing interest ct the rate Of four oaT
cent per AMMAN, and payable tWo years after
tbs ratification of a treaty Of peace with tAe
Unisod States, unless sooner converted ins0 new
notes.
6. That 10 pay tho expenses Of the Cavern
nsat not otherwise provided for, the Secretary
of the Treasury is hereby authorized % issue
SIX per cant. bonds, to sn amount n0t exceeding
five hundred millions OF deilars the principal
and Interest whereof shall be tree iTola taxation
ARd for the payment o. ths interest thereon the
sntirs not receipts Of any export duty hereafter
laid on the value OF all cotton, tobacco. and
naval stores, which shaH be exported from the
Confederate States aGd the net proceeds Of iho
import du.iss now laid, or Sc mach thereof as
may be necessary to pay aBauslly he iaisresI,
are hereby specially pledged, provided Ehss tbs
dahes l0T laid upen lmp0Tis hereby pledged
shah hereafter be paid 10 speeis, OF IN stsriug
exchange, or IN the coupons Of said bonds.
7. That the SssgelAiy Of tie Treasury Is here
BY authorised, from time to Tins, a. tue FnB IS
Of The tSosaury may require it, to sell or hypoh-
eegle tor treasury notes ssid bonds or any par.
ihefeof upon the best terms he can, a. ss 10
meet appropriations bY Congress, and st the
same tme reduce and restrict tho aTaount Cf tho
circulation IN treasury notes within Ieas0uabls
and safe limits.
s The bonds authorized By the h section Of
this act may De either regiBteTsd or eoupou
honds, as the parties taking them may elect. and
they msY be exchanged for each other under
such FegHla ions as the Secretary Of TIE Treas
ury may describe. They shall be fer eus h1n-
deed dollars, OF some nultpla OF one hunared
dollars and shall, togethsr with The COUPONS
thereto attached, bs in such form and Of such
autsentiGstion as tho Sfe;slary of the Treasury
nay prescribe. The interest shall be payable
halt yearly on the Isl Of January and JAY in
each yoaT-the priaessI shall bs payable not
less than thiTty years from their dale
3. All call certificates shall be fandaoIe. ,...
shall be taxed in ell respects, q % .---5T.lle5
for The treasury no;es, int yas- tbey arc eas.-
yer J. le- II noz ssEg5rtsd before the time fxel
io1 l,siegg ieo treasury notes, sueh certificates
sitst., IToa that inns, bear interest upau e1iz
aix-Y-Eix and two-third cents Ter every dollsf
promised upon their face, aud shall be Tedasm..
BY only in new trsasETy notes .. that rate, but
after the passage Of this act, no call certificates
1864
10 That # any baEk Of deposit shall rive lis
depesitoTs the bonds authorized By sfs lst sec
tcR ofths act IN exchange for their dep isis, and
specify tbs Bame on tho bonds by some DISTINCT. /
i've mark or token, to be agreed upoa 7Fl.h The !
Secretary ct the Treasury, thsn ths ssid dobosi 1
tor shall bs entitled to recsive The smount 0f /
said bonds in treasury notes bearing no inssYegt
and outstanding at me passage Of this act Pro.
vlded, the said bonds sre presented beiore the |
privilege OF iusding said notes at par shall 4
cease, ss hsrein prescribed
II, That sll treasury notes heretofore is /
sEed OF the denomination Of five dollars shall 1
continue to be receivable il payment Of public |
dues, as provided By law, aud fundable ss bar
undsE the provisions Of (hs act, uatil the Iss Of
Jaly, 1864, eass, and anti The Ist of October.
1864, west Of tas Mississippi bat after that inse
they shall be suhject to a tax of thTty-three snd
one-tssrd ceEts On svcrY dollar promised on he
face thereof, said tax 10 attach &c said notes
wherever circulated, and said notes TO be fasd. /
able and excbsngsable for nsN treasury noies
A. -AsF@in provided, subject to the deduction Of
said tax.
II. That any Slate holding treasury notes
received before the times herein fizsd for taxing
said notes, shall be allowed until tho lst dav az
JannsTy, 1865, 60 fn3d the same in six mar cant