The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-06-24


said the vews OF the democrats heretofore exprcssed
House.
The COMMITTEES Of the Whole acted and agreed TO Mr.
Stevens substitute for the rst sectionayes H. nays b.
Inc House however at subsequent stage OF the pro
ceedngs refused In the action or the committee
by vote OF 10 against 10.
The House refused 10 CONCUR IN Mr. Pomeroys sub
stuts for tue second section by vote OF a against 81
The bill was then passed without division. the yeas
ar nays having been demanded and refused
The bill authorizes the Secretary OF the Treasury 70
borrow from time to time the credit OF the United
States four hundred million dollars to issue therefor
coupon registered bonds or tho United redeemabe
Mt the Pleasure Of the after period not
less than five moro than thirty years or, deemed
forty years date bonds to DO Of such denomi
nations the Secretary OF the Treasury shall direct not
less than Atty doars and boar annual interest not
exceeding six per cent payable annually In CON-
Tho Secretary OF the Treasury dispose OF such bonds
any part thereof and Of sny bonds commonly known
aSsnvetwenties remaining nnsod in the United States
OF, shall find expedent Ia Europe ut any time on
able, fer lawful money Of the United States, or at his
discretion for Treasury notes. certificates q hdeoedness
or certificates OF deposit issued undcr any act Of Con-
gress Bonds Treasury notes and other obligations OF
the United States TO be exempt from taxation By or under
State municipal authority The Secretary OF the Treasu
~ issue credit OF the United States In lieu Of
equal amount Of bonds authorized by the preceding
section and part Of said ioan, NOT exceeding two
nomination less than ten dollars payable q any time
not exceeding three from dnte or, u thought
YEARS om dsas and bearing not sroesans the
rate OF and three tenths por contum payable IN
sSs u % be-
DISPOSED OF the Secretary Of the Treasury on the best
terms that DO obtnned for lawful money, and such
or them shall be made payable principal and Interest,"
shall be legal tender 70 the same extent as United
States notes for their face value. excluding the interests
and may paid any creditor Of the United States at
their face value, excluding interest, or to any creditor
willing to receive them at par including INTEREST aud
any Treasury issued under tho authority Of this
act may mado convertible at the discretion OF the
Secretary OF the Treasury into any binds issued under
the authority or this act The Secretary OF the Treasury
n nd CAM
Treasury United States notes heretofore issued
under the authority Of previous acts o. Gonsres ana
notes such authorizedby this act, or OF other
United States notes OF such denominations as shall De
deemed cxpedient not exceeding ST. provided the total
amount OF bonds and Treasury authorized by the
FIRST and second sections Of this act shall not exceed
shall the amount OF United St1tes notes issued,
10 be issued exceed $500 600 0c0 and such add
tiona exceeding $50 600 .000 rs may DO tempo
ary required for the redemption Of the temporary
shall Treasury NOTE bearing interest," issued I'M
S s 10 e. S
banker TO circulate money The interest on all ponds
heretofore Issued payable annually my ns paid sent
issued the Secretary Of the Treasury may issue bonds
bearing interest payable senaunually, and may Also in
10 per centum interest. besides the six per cenum
heretofore authorized Like bonds OF OIL the denomna-
tons in which such Treasury have been issued the
interest such Treasury notes after maturity shall be
paid In lawful money, and they may DO excnanged for
such bonds AZ any time within tnrec ron :,
tho Treas ~, after which The Interest on such Treasury
notes shall So much OF the law, approved March
g. 1884, limits the loan authorized therein 10 the
fiscal year. IL repealed and the authority Of the
Secretary OF tho Treasury 10 borrow money and issue
therefor bonds notes conferred by the hrs section OF
said act shall after the passage OF this act
TIE Secretary OF the Treasury may authorize tho
receipt o temporary loan Of United States
notes or tho of national banking associations on
deposit for lass than thirty days on sums mot less
than ffy dcars by the Assistant Treasurers OF the
United states depostares designated for that purpose
other than national banking nssoclaous who shall ssue
certificate OF deposit In such forms tho OF
tho Treasury shall prescribe bearing interest not exceed
ing six per centum annually, and payable 1t any time
after he term or deposit and after ten days Subsequent
notice, unless Vine and notice be waived by the SEQ
rotary OF the Treasury. The Secretary OF the Trea
sury may increase tho interest on deposits at
less than six per cent 10 that rate, or on
ten days notice to depostors he may diminish the
rate OF interest AZ the public interests may requires but
the aggregate such deposits shall not exceed one bun
and ty millions Of dollars and the Secretary OF the
Treasury and shall hold in for payment
ossuch deposits United States notes not exceeding nifty
millions OF dcllars including tho amount already applied
such pay nent and the Tinted states notes so hold IN
sh1 be used only when needed In hh Judgment
for tba promp payment OF such doposts demand and
shall Withdrawn and placed again In reserve the
amount OF deposits shall agsin increase.
AT five O'Clock the House adjourned.
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