The farmers' union., 1894-02-15

as II nfSt passed. tlic House Oh iHc
9Th of February, 1862:
An act to authorize the issue of
| United States notes, and tor the re-
demptiOn or fuLding therefore. and
for funding the floating debt Of the
United States.
Sec. l. BE it enacted by the Sen
ate and the House of Representatives
of the United States of America, in
Congress assemblies: That to meet
the necessities of tie Treasury Of the
United States, and to provide Il cur
rency receivable for the public dues,
the Secretary Of the Treasury is
hereby authorized TO issue on the
credit of the United States, $50, ,OOO,-
600 of the United States notes, not
bearing interest, payable to bearer, at
the Treasury of the United States, at
Washington or New York, and of
such denominations us he may deem
expedient. not less than So each.
Provided, however, that sou, 900, 900
of said notes Shall be in leu of The
demand Treasury notes authorized
to he issued by the act of July l1th.
1861; which said demand notes shall
be taken up as rapidly as practicable,
and the notes herein provided for
substituted for them: And provided
further, that the amount of the two
kinds ofCnotcs together, not, at no
time, exceed the sum Of $50. .O00,
600. And such notes, therein autho-
riZcd, shall be receivable in payment
Of all taxes, duties, imports, eXcises,
debts and demands Of every kind due
the United states, and for all salaries,
debts and demands owing by the
United States to individuals, cOrpo-
rat,Ons and association within the
United States. and sEall also he law
full II oney and legal tender, in pay
mcnt .f all debts public and private.
within the United States. And al,
holders Of said United States notes,
dcpOsiting any sum not less llrn $50
or some multiple of $50, with the
Treasurer of the United States, OF
either of the assistant treasurers,
shall receive in exchange therefore
duplicate certificates Of deposit. one
of which may be transmitted to the
Secretary of the Treasury, who shall
thcrcupon issue the holder an equal
amount Of bonds Of the United States
ruptn or registered, as may~by said
holder be desired, tearing interest al
the rate of 6 per centum per annum
payable semi-annually, at the Treas
ury or sub-treasury of the United
States, and redcemabie at the pleas
ure OF the United St tcs, after twent,
years from date thereof. ProviIcI
that the Secretary of the Treasury
shall upon presentation OF said ccrtlti
Gates Of deposit, issue the holder
therefore, ut his option, aEd insteaG
of the bonds already descrihed II
equal amount Ct bonds of the Unite,
States, cupon or registered, rs may
bv said holder be desired, bearin.
interest 1T the rate of : per cent pc
annum, payable semi-annually, an'
rcteemable at the pleasure of tn,
United States, after five years IRON
date thereof And such Unite.
States notes be receivable the sam,
as coin, at :heir par value, in paymen
for any loans that may be hereafte
sod or neg tt stcd by tie secretary o
the Treasury, and may be reissue,
from time to time, rs the eXi gcncie
of the public interests shall require
There shall be printed On the nack
of the United States notes. whicl
may be issued Under the provision
= of this act, the following words
The within is legal tender in pay
ment of all bebts, public and private
and is eNchanSeable for bonds of th'
United States, bearing s per centun
interest at twenty years, or in pc
cent bonds at five years.
Sec. ,. And be it further enacted
That to enable the Secretary OF til,
Treasury to fund the Treasury note
and floating debt Of the United State
he is hereby authorized to Issue, OF
the credit of the United States. cupol
bonds. or registered bonds to al
amount not exceeding $500, ,0o0,0 600
and redeemab!e at the pleasure 0
the government after twenty yrear
from date. and bearing interest Il
the rate of per centum per annUm
pavable semi-annua!ly, and the bono
herein authorized shall be of suci
denominations not less than $50, a
may be determined upon bt th'
Secretary or the Treasury; and th'
Secretary OF the Treasury may dis
pose of suc; bonds at any time TO
lawful money of the United States
o. for any of the Treasu y noes, tina
have been or may hereafter be, issue,
under any former act OF Congress
or for Uunited States notes tnat ma,
be issued under the provisions of tli