New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-02-22
The New Loan Will.
WASHINGTON. Tuesa

WASHINGTON Tuesday. Fec 81. is6S
The following is the Loan Bill reported TO-
iay from the Committee on Ways and Means
Be enacted Sc. That Le Secretary Of The Treasrry
De and Is hereby authorized 40 borrow fgom tine -
time tho credit Of the United States. III addnon
ths amounts heretofore author lied. sry SUES
ceeding Ia the aggregate $4,000, co. and ~ issue
therefor bonds or other obligations Of The United States
thereof nsy be issued u bonds .hal be o. demon
nations Of not less then fifty dollars AID may be made
payable at any period not mere than forty years from
The date OF issue or mcy be made redeemsble AZ 'he
pleasure of tie Government 90 any pc-od lees than
I've years nor more than forty ytris from date or
payable es aforesaid be expressed upon their
face; and so much thereof may be issued in other
forms than bonds NAV be made convertible into ANY
bonds authorized by this act and mpy be Of such
denominations not lees than iffy dollars, ard made
gedeema5le or payable az such periods as In tie
opinion Of the Secretary of the Treasury may
such bonds shall be payable semi-an uusly and all
other obligations aGthO lied by this the interest
be made payable semau nuaiiy or Annually or at ma
furity thereof aud the principal or Interest. W both
may be made payable in COIN or in lawiutRoncy pro
yded that the rate Of interest on my such bonds Of
other obligations when payable in coiI snail not
coed six per oentum per snuum. and e3 payable
IL coin shall not exceed seYen and threo-teaths per
centpm per annum; and the rate and character OF in
kerest shan be expressed on oil such bonds oti-
cations
SIC. .. ind beh farth-r eaeced That the Secretary
81 the Treasury may dispose OF any OF the bends
other obligations issued under this act. either in the
United States elsewhere such manner and at sueh
rates, and under such conditions ss he may think ad-
visabe for coil. OF FOR aWlGl money Of the United
States for treasury notes. certificates Of indebted
oess certificates OF deposit other representations
OF vaae which have been OF may be issued under any
Act Of Congress and ali bonds other obligations
Issued under lI act shall be exempt from taxation by
or under State or Municipal authority.
SIC. 3. And be u ffrfs.r cr0cted That I'll the pIO
visions OF the act entitled IAN Ac; 20 provide ways
and for the support Of tie Government ond for
ether pr poses. approved June 30 s04 IN relation 10
forms inscriptions, decTees, ana tho winning attest a
GOD sealing. signing and cOuBtcrieitng thereof witt
auch others applicable shall apply 10 the bonds
aud other obligations issued under this act Provided
authorizing the issue Of legal notes "A ny iUrm
and not exceed ne one per centum Of the amount
of bonds and other obligations issued under This hct l.
hereby appropriated 10 pay the expense OF preparing
and issuing the and dsposirg thereof.
The following is the substitute 10 be offered by MI
Steyens
Be enacted ate. That tire Secretary Of tho Treasury
be and he is hereby authorized 10 borrow from time q
time or The credit Of the United States. suu NOT ex
eeeding eco 600 OUc and 20 issue therefor coupon or
register CO bonds redeeable al the pleas of the Gov
trnneLt after ten years. and PAYABLE al CIV time not
more than forty years from tbs passage Of this act At
rate Of interest not exceeding eight Ter centn eT an
nun ard Of such donominens no. less than fi'y Dot
lars. lie may deem oxpedenf. and may u his dis
cretion dispose OF such bonds az any ic upon such
terms he may deem mort advisable, and said bonds
shall De exempt from taxation by under Safe o. nG
eioipal authority
SIC 2 And be Il fvrtt,s enacted That the Sec
yetary Of he Treasury shall be al Liberty ~ xchangc
bonds similar to those provided for N the hrt section
Of this net with the holders Of any bends or oDhga-
tiops of the United States hearing Interest provided
that such exchange shah he oleDed ~ the hodos 81
obligations within two years aiter tie passage VI hs
act.
Thil bin ia made the special order for Wednesday.