Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-03-19

vouchers and other documents pertain
ing to the collection of'said cotton tax
! heretofore, now, or hereafter in the
hands of public officers, or former
officers, or their deputies, Repositories,
or bailees, are the property Of the gov
eminent Of the United States, and are
hereby made subject to the order or con-
| troll of the commission named in this
| act. And any person who shall will
! fully or maliciOusly secrete, defaee,
erase, mutilate, or destroy any book,
paper, voucher, receipt, or other official
| evidence of the payment or collection of
said tax, or part thereof, with intent to
defraud any person, shall be deemed
guilty Of felony, and, on conviction in
any court of competent Jurisdiction,
shall be imprisoned for not less than
one year nor more than three years.
Section 10. That whenever, In
their discretion, It may be
deemed expedient, said commission may
require the testimony by commission of
all or any persons competent to testify
In the circuit courts of TIE United
States.
Section IL. That It shall be the duty
of the secretary of the treasury to cause
bonds of the United States to be pre-
pared in sums of five hundred dollars
each and one thousand collars each,
payable at the treasury OF the United
States to bearer, at the end of forty
years from date, in gold, bearing inter
est at the rate of four and one-half per
centum per annum, payable semi-annu-
ally in gold, with coupons attached, to
be called cotton tax bonds, to be signed
and authenticated in the manner di-
rected and provided in section three of
the act entitled "An ect TO authorize
the issue of United States notes, and for
the redemption or funding thereof, and
for funding the floating debt of the
United States,p approved February
25, 1862; which bonds, SO authenticated,
shall be by him delivered to the person
or persons in whose favor the commits
sion shall have made an award, or to
his, her or their administrators, execu-
tors, assigns, or attorneys Of record, in
payment Of such claims as said board
shall allow, on the presentation of such
claim or claims certified by said board:
Provided, That when such claims are
for less sum than the smallest denom-
ination of bonds, or an excess be left OF
claim allowed, over and above the ex-
act amount of bond, certificates for the
odd amount, payable to the order of the
claimant or his assigns, shall be issued
by the secretary OF the treasury; which
certificates, when presented in amounts
exceeding five hundred dollars, shall be
redeemed at the treasury department in
the above mentioned bonds so far as
practicable, and for the residue q new
certificate shall be issued in like manner
as provided for in the original issue. All
claims certified by the chairman of the
commission shall draw interest from
the date of such certifcation until the
same are exchanged for bonds as above
provided. The faith of the United
States is hereby pledged for the due pay
ment of the interest and the redemption
of the principal Of said bonds, and the
same shall be free from taxation, as in
the case of other bonds Of the United
States.
Section II. That as several of the
States where cotton is produced have
not received their proportionate share of
banking capital, it is hereby enacted
that the bonds hereby authorized to be
issued may be, and the same are hereby
authorized to be used as capital for
banking in the States in which said
tax-money was paid, in the same man.
ner and form as provided for under the
Law CoOsoAAohlAS IAo pIooSuI SYSTEM Ol
national banks.
Section IL. That there shall be paid
to each of said commissioners a salary
of--thousand dollars per year.
payable monthly; and they shall
have power to appoint a clerk
and a messenger to attend their
sessions at Washington, and are
authorized to employ such additional
services as fhaU NAV daopo Dooaooor,,,
and the sum of - thousand dollars is
hereby appropriated, out OF any moneys
in the treasury not otherwise appro-
priated, out of which shall be defrayed
the expenses OF said commission, the
same to be expended under the direction
OF the said commission.
Section IA. That all laws and parts of
laws and regulations in conflict with
any Of the provisions of this act, so far as
they conflict with the same. are hereby
repealed.