New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-02-26
SYNOPSIS or A BILL TO BIZ ENTITLED AN ACT TO
FUND TAX AND LIMIT THE CURRENCY.

SECTION /. TIA. Congress u ME CORIod6Tdt,
S'aies II Aneroa, d. cnoS', That tho holders OF all
Treasury notes above the denomination Of FIVE dollars
not airing interest shall De- allowed until the first day
OF Apf lc6s, cast oil tiu Mississippi River GBd unil
to fund the same and uut the periods and NJ the place
stated the holders of all such IIessuT notes shall be
allowed 10 fun tho aaned IN Registered bonds plYLe q
years after they beafing intcIcs, ~ The rate Q por
cent per ennun, payable The hrl d.! Of Jaruhry and
July Of each year.
SIC p The Secretary Of the Treasury is hereby eu.
hOriSed "a Issue The bonds required for the funding pro-
yded fol in the preceding section and mill tlo b0us
can be provided Lie may Issue certificate to The
purpose. Such bOlds and certificates shall DC rccov
able, without Interest, Ia payment NJ Gll Government
due payable III The year i56i c1ccp, export aud import
duties.
SIC. 8. That all Treasury notes Of I'll denominations
vi one hundred dollars not bearing interest which shhl
not DO presented or funding under the provisions Of
tie fret section Of this act, shall from aud after the
first day ~ April l,6i east Of the Mississippi River
and the hf dag Of July 1901, west az the Mississippi
cease To be receivable IA paJmont OF public dues, and
sad notes, II not ~ presented at The ua shall IN ad.
dillon 10 The tax OF thirty three and 0loilrd cents i'm
posed AZ The 18th section OF ills eel, be subject to
o. Ten per cent per moat. Until 80 presented which
and snail DO deducted from the face II said notes
Wherever presented for payment for funding. and
snoh notes shall not DC sGchaugcabo for the new Issue
OF Treasury notes provided for In this net
re J. That all The aid Treasury notes not funded or
used IN payment " taxes al the dates and places pre-.
hcribed In the first section Of tina act Them shall he
every dollar funded on the faGe OF said L0cs Said 60
tal attach 10 said notes wherever ctcuafed and shall
De c0ueetcd by Geducting the ~ the Treasury s
oepOsiles ana by the collectors Odd by al Coz crn.
Iheht oheels receiving tho same wherever pYefented
Tor payment or for funding or IN paynent oil Goy,in.
mont du's on for postage IN exchange for new no,
ms hereinafter provided, aud said 1rc, my notes ali
e hGhbe IN bonds ss provided IN the ia section OF
tns ACT, untu The iat day Of January ls65 ~ The
IhS u siAty'sh ee!ts AID two thids on the dollar
shd II shall Do the tny Of the Secretary Of the Treasury
q. any tmo hctween tho ls OF AX last and tie Al of
Juy 1861, west Of tic Mississippi River and The lt Of
Jahary isd1 TO srbsliiute and exchange rev Trca-r.
~ notes Tor same, At the rate Of sxlygi and two rds
cents on The doler; Provided that noss OF the dc,ini
al0h Oh one HUNDRED dollars shall not be eut,ted 10 q
Prlfntgc OF said exchanges Provided farther that the
fEh 20 iund all such Treasury notes which NAV remain
outstanding on tic lst day of Jannary l6f md which
may ho De exchanged for new Treas gy noes az herein
posed. fN' ''"' " N''''' '-"'
SIG. That after the lsl day OF Ami, neg. al on.
tDo! heretofore gwen TO The SECRETARY OF the Trcn.
uit issue treasury notes shall b. and Is her eby 70
Veheu PROVIDED tine Secretary Of Tho Treasury iaay
hiIef that tme ssusrEw Treasury iD,ss In euch rns
as no may prescribe payable two wears after the ra
eeuo ~ treaty oi peace with the United States said
new Issue 70 be receivable In payment 81 All public fues
except export and import duties snd 10 lie issucd In eI
change Ior OLD notes at tho Of 81 OF the new issue
for 81 OF te Old issues whether said old notes DO sur.
fehueea or exchange by the holders thereof or be re
cefed no ,he Treasury under tho provisions Of this
act anu ne OF The new notes Of the old notes
except tnoc OF tho determination Of tO0 after they are
reduced 20 t cents On the dollar by tho tax aforesaid
say eonl1s em INTO cal certificates bearing interest
~ TUG rave " '"0f ye' cent PS enHqm aud payable two