The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-01-23
of certain freedmen who obtained warrants

| ~, dated Savannah, Georgia, and shall no
be taken up for such purpose by said claim
ants on or before the 1st day of January
1859, except those lands known and desig
mated as Plnckney Island, lots in the cities
of Beaufort, and Port Royal, lands in Saint
Luke's Parish, and lands set apart anc
known as school farms, and also all land.
set apart for army and navy purposes.
SEC. 10. AID be ii further enacted, Tha
whereas from the sale and lease of the land
described in this bill there have been paid
by the direct Tax Commissioners, the sun
of 1919. .503.17 into the Treasury of th,
United States, and the further sum of $54,
the Bureau of Refugees, Freedmen ant
Abandoned Lands; and whereas by thu
conditions to the twelfth section of the Ac
approved June 10th, 1862, for the colleo
tion of taxes in insurrectionary districts, il
is provided that one-fourth of the amour
of moneys SO paid into the Treasury of the
United States, and into the hands of The
Commissioner of the Bureau of Refugees
Freedmen and Abandoned Lands, shall bt
paid over to the Governor of the State o.
South Carolina, or his authorized agent, an6
an additional fourth of the same money.
shall be paid over to said State to aid in the
colonization or emigration from said State
of my free person of African descent who
may desire to remove to Hayti, Liberia OF
any other tropical State or colony: There
fore. be ii further enacted That for the pur
pose of securing the construction of the
said road at the earliest practicable time
the Secretary of the Treasury of the United
States is hereby authorized and directed,
whenever and as often as the Governor oi
the State of South Carolina shall report the
completion of five or more consecutive
miles of said road, in accordance with the
provisions of this Act, to pay to the Trea-
surer, on the order of the President of said
road, in United States Treasury notes, OF
any other money or currency, which the
United States shall declare lawful money or
legal tender, to the following amounts
S3, 500 per mile, upon the bonds of said
Port Royal Railroad Company ut their pal
value. which bonds shall be made payable
to the United States or bearer in twenty
five years, and bearing six per cent. in
terest, payable annually, and so on, as Gael,
section is completed, until the whole road
is completed. If, upon the completion OF
said road, any balance of the above fund
shall remain, it shall be paid over to the
said railroad company on the bonds of the
same, as provided above. To secure the
payment Of the amount Of said bonds OF
the company, and of any other bonds which
the said company may issue to an amount
not exceeding ST., 500 per mile, inclusive of
the said $3, 500 per mile, together with an
interest thereon, the issue and delivery of
said bonds shall ipso fac,o constitute a first
mortgage on the whole line of said road,
together with the rolling stock, fixtures and
property of every kind and description used
thereon, and in consideration of which said
bonds may be issued; and upon refusal or
failure OF said company to redeem said
bonds, or any part thereof, at maturity,
with all the accrued interest thereon not paid
rs hereinafter provided, then the said road, !,
with all the rights, functions, immunities,
and appurtcnances thereunto belonging,
and also all the lands granted to said com
pany by the United States, which at the
time of said default shall remain in the
ownership of said company, may be taken
possession of by the Secretary of the Trea-
sury OF the United States and held for re-
payment of any interest then unpaid by
said company, and also for the payment of
tho principal of said bonds or any portion
thereof which may be then due and unpaid.
SEC. IL. And be ii further enacted, That
the Port Royal Railroad Company be, and
the same is hereby, authorized to take DOS
session Of the lands above named on and
after the 1st day of January, 1869, for their
protection against injury; and on the com
pletion of their road to Port Royal ferry,
the said company shall be authorized and
required to proceed to survey the one undi-
vided half (Which shall constitute, as near
as practicable, an average as to timber and
fertility of the whole amount of the lands
thus granted to it into lots of twenty acres or
less. and to sell the same at $l.25 per acre,
allowing no person to buy more than one
tract.
SEC. II. <And be ii .further enacied That
whatever amount of compensation shall be
allowed annually to the Port ROYAL Railroad
Company for the transportation of the
United States mails, the same, or sufficient
amount thereof, shall be retained by the
Government to pay the amount of interest
due annually on such bonds as may be