The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1868-07-21


TIE az 81 ias8ing 10 national
dsAs - i vas reperied l. tie Hoass
q Representative ssiarisy i - g..
luwe
Re Il sBhotad. That Sac secretary q
the sre&sary = hereby aathorizsd to Is
sac orupaus or registered beads a the
Uniied States Is ssrh fern a. b. mhy
pFssaTalss ard = Tho dissemination =
40, Or s0ne multiple q TIA, sum. re-
deesaAhls Ia com Ai TIC pleasure 81 The
United States after forty years and
bearing interest semi annually in cNn
= TIE rate u three AID sixty Eve huna-
redibs PET ocutum per &aEum, which
aaid bonds sud the interest thsreon
and the income thcrefgom shall BE- e1.
capt from the payment II al taxes or
daes 10 the United States as we'll as
from TAXATION in any form by and IN
der state, municipal or local authority,
and the sad bonds and The proceeds
thereof shall be exclusively used for
tho redemption or payment, at the OPP
ton 81 the holder, OF purchase Of or
srchsugc for an equal amount Of any
Of the present interest bearing debt Of
The United States other than the three
per oontum certificates and debts past
dine or maturing before the end Of the /
pro sent fiscal year, and may be issued
TO 40 amount in the aggregate sufi- /
Gent 70 cover the principal Of all out 4
standing or existing Obligations, a. lin
tied herein, and no more.
Sec, "a. And be Il further enacted, /
That tnere Is hereby appropriated out
of the duties derived from imported
goods the sum Of $I35, DOC, 900 annual.
ly, which sum, during each fiscal year,
shall DO applied TO the payment Of the
interest aud 10 the reduction OF the
principal Of the public debt, and such
reduction shall be in lieu Of the sinking
fund provided by the fifth section OF
the act entitled An act 10 authorize
the issue Of the United States bonds,
and for the redemption or finding
thereof and for funding the floating
debt Of the United States" appra we'd
February rs, 1862.
Sec, 3, And be 1t further enacted,
That from and after the passage Of this
act no percentage, deduction, commiss-
ION or compensation Of any amount or
kind shall be allowed any person for
the sale, negotiation or exchange OF
any bonds or securities Of the United {
States, or any coin or bullion disposed
of at the treasury department or else
where on account Of the United States,
and all acts or parts Of acts authoriz- =
ing or permitting, by construction or
otherwise, the secretary of the treasury i
10 appoint any agent other than some
proper official in his department TO
make such sale or negotiation OF bonds n
pr securities, are hereby repealed. e
Sec. L. BE it further enacted, That
lftor the passage of this act all ex-
'hange purchases or sales of the bonds
II the United States shall be made by !,
INVITING the competition Of the public, L
y advertising for proposals for any Ct
UGH exchanges, sales or purchases, =
which shall be awarded to the high
st bidder or bidders, the secretary OF 3,
he treasury reserving the right TO re- 4
ect any such bids should he deem it to ;, +,
he public interest to do So p
Sec 5. And be il further enacted, I,
That hereafter the tax on any income y
rising from the bonds or other inter Il
St bearing securities OF the United Y
'trtcs, other than those authorized BID e
he first section Of this act, payable 10 " ~
ny person, state, municipality, body e
'olitic or corporate, company or socie- Ii
y, whether corporate or not corporate, 81
al OF The treasury of the United States, A,
hall be assessed and collected by the ~ ~
treasurer or other disbursing officers Ga
I tho United States charged with pay ife
1g any interest on the debt of the ts'
nIted States, IN the same currency in
FhIch said interest is paid, and such
objection shall be made by deduction
| the amount of the tax from the cou-
ons or interest dine at the time Of pay
ient Of such intsrest.
Sec, 9. And be il further enacted,
hat on and after the passage OF this W
Ct all authority under any existing law to,
, issue bonds, or interest bearing
-easury notes, or obligations Of the
'nited States, shall cease and deter a
line, provided nothing herein shall q
resent the conversion Of treasury notes % q
novn rs seven -thirtles into fye-twenty as
ohds, nor the change Of registered "a
onds for eupon bonds, nor the issue 7;
) a subsidy to railroad companies as y
roviAal lbs faur "