Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1864-02-26
The Currency Bill.

f0ms
The Currency Bill.
An yer 20 FUND, TAX AND LIMIT THH Cur
RBNoY.
/. ~, Con5*ees Of the Confederate
States Of Americo 4, % enact; That the hol.
ders Of all Treasury notes az. 1--WE tue oenom-
nation Of FIVE dollars, not bearing ;;.teres..,
shall be allowed until che lst day Of April
1864, east of the Mississippi river, and I'M
til the 1st day Of July, 1864, west Of the
Mississippi river, to fund in the same, and
until the periods and at the places stated
the holders of all such Treasury notes shall
be allowed to fund the same in registered
bonds. payable twenty years after their
dates, bearing interest 1t Vie .ase Of four
per cent. per aHhSuimn. payable on the let
day OF January and July of each year.
!, The Secretary Of the Treasury is here
by authorized to issue the Bonds required
,fsr the finding provided for in the prece-
ding section, and Eunntil 'ttho bonds can be
prepared he may issue certificates to answer
the purpose. Such bonds and certificates
shall be receivable without interest in pay
ment ct all government ddea payable in the
year 1864, except export and import du-
tiess !.
5. Tha. all Treasury notes of the de-
nomination of one hundred dollars, not
bearing interest. which shall not be presen-
ted for finding under the provisions of the
first section of this act, shall from and after
the 1st day Of April. 1864. east Of the
Mississippi river, and the 1.t 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 Al bection of this act, DO subject to
tax Of ten per cent. PER month until so pre-
sented. which taxes shall attach to said
notes wherever circulated, and shall be de-
Quoted from Che fsce Of said notes whenever
presented for payment or for finding, and
sara notes shall not be exck.ngeable for the
new issue Of treasury notes provided for in
this act.
A. That on all said Treasury notes not
funded or used in pa, mcnt Of taxes st the
dates and places prescribed in the 1st Sec
ton Of this act. there shall be levied at said
dates aud places tax of thirty three and
one-third cents for every dollar promised
on the face of said notes. Said tax shall
attack 10 said notes wherever circulassa,
and shall be collected BY 'aeducting the same
at the Treasury, its repositories. and BY the
tax collectors, and by all government off
GERS receiving the same, whenever present
ca for payment, or for funding, or in pay.
ment Of government daes, or for postage
or in excha'n1ge Tor new notes Is hereinafter
provided and said Treasury notes shall
be fundsble in bonds as provided in the
| first section of this act until the 1st day OF
January, 1865. at the rate of sixty six and
two third cents on the dollar.
And it shall be the duty Of sha Secretary
of the Treasury at any time between the Is,
April east, and the LIST July, 1864, west o.
the Mississippi river, and the LIST January
1865, to Substitute and exchange new
Treasury notes for the same at the rate Of
sixty ak and two thirds cents Oh the dollar
provided that notes of tho denomination o.
one hundred dollars shall not be entitled te
the privilege Of said exchange; provided
further. that the right to fund any Of sale
Treasury notes after LIST day January. 1865
is hereby taken away. and provided further
TIA! upon all such Treasury notes which
may remain outstanding on the 1st Jan
uary, 1865, and which may not be ex.
changes for new Treasury notes as hereil
provided. a tax of one hundred per cent. il
hereby imposed.
s.. That after the first day Of April mex
all authority heretofore given to the Score
tary Of the Treasury to issue Treasury
notes shall be and is hereby revoked; pro,
pided, the Secretary of tho Treasury may
after that time issue new Treasury notos
in such forms as he may prescribe, payable
two years after the ratification OF treaty
of peace with the United States, said new
Issues to be receivable in payment of al
public dues except export and import du
ties, and to be issued in exchange for ol(
notes, at the rate of two dollars of the new
fer three dollars of the old issues, whether
said cid notes DO surrendered for exchange
by the holders thereof, or be received int
the Treasury under the provisions Of .hi
act and the holders of the new notes or o
the old notes, except those Of the demons
nation of one hundred dollars, after they arr
reduced to sixty six and two-third cents OF
the dollar, BY the tax aforesaid, may con
vert the salhe into eall certificates, bearing
interest at the rate of four per cent per an
mum, and payable two years after the rati
6cation ofA treaty Of peace with the United
States, unless sooner converted into new
notes
8. That to pay the expenses Of the Gov
eminent not otherwise provided for, Til
Secretary Of the Treasury is hereby aathor
'zed to issue six per cent, bonds. to al
amount not exceeding FIVE Hundred millions
OF dollars. the principal and interest where
OF shall be free from taxation, and for th,
payment Of the interest thereon the entir.
net receipts OF any export duty hereafte
laid on the value Of all colt n, tobacco. an.
naval stores. which shall be exported from
the Confederate sta.er, and the net pro