Year: 1862

United States of every kind whatsoever, except
for interest uUOn bonds aud notes, which shall be
paid in coin; and shall also be lawful money and
legal tender in payment OF all debts, public and
private, within the United States. except duties
ON imports and interest as aforesaid; and any
holder of said United States notes depositing any
sum not less than fifty dollars, some multiple
of fifty dollars with the Treasurer of the United
States or either Of the Assistant Treasurers shall
receive in exchange therefor duplicate certificates
of deposit one of which may be transmitted to
the Secretary of the Treasury, who shall there
upon issue to the holders an equal amount of
bonds of the United States, coupon or registered,
as may BY said holders be desired, bearing inter-
est at the rate of six per centum per an
mum, payable semi m-annually, and redeemable at
the pleasure of the United States after five years,
and payable twenty years from date thereof; such
United States notes shall be received the same as
coin, at their par value, in payment for any loans
that may be hereafter sold or negotiated by the
Secretary of the Treasury, and may be re-issued
from time to time, as the exigencies of the public
interests may require.


SEC. 3 And be it further enacted. That, to en-
able the Secretary of the Treasury to fund the
Treasury notes and floating debt of the United
States, he hereby authorized to issue on the
credit of tine United States coupon bonds, or reg
istered bonds, to an amount not exceeding S5OO,-
900 900, and and redeemable at the pleasure of
the United States after five years. and payable
twenty years from date, and bearing interest at
the rate of six per centum per annum, payable
semi annually. And the bonds herein authori
zed shall be of such denominations, not less than
$50, as may be determined upon by the Secretary
of the Treasury. And the Secretary of the Treas
ury may dispose of such bonds at any time at
the market value thereof, for lawful money!
the coin of the United States, or for any of the
Treasury notes that have been or may hereafter
be issued under any former act of Congress, or
for the United States notes that may be issued
under the provisions of this act; and all stocks,
bonds, ane other securities of the United States
held by individuals corporations, or associations
within the United States, shall be exempt from
taxation by or under State authorities.


SEC 3. And be Il further enacted, That the
United States notes and the coupon or registered
bonds authorized by this act shall be in such form
as the Secretary of the Treasury may direct, and
shall bear the written or engraved signatures of
the Treasurer of the United States and the Reg
lister of the Treasury, and also, as evidence of
lawful issue, the imprint of a CODY of the seal of
the Treasury Department, which imprint shall be
made under the direction of the Secretary, after
the said notes or bonds shall b. received from the
engravers and before they are issued; or the said
notes and bonds shall be signed by the Treasurer
OF the United States, or for the Treasurer by
such persons as may be specially appointed by
the Secretary of the Treasury for that purpose
and shall be countersigned by the Register of the
Treasury, or for the Register by such persons as
the Secretary of the Treasury may specially ap
point for that purpose; and all the provisions or
the act entitled IAN act to authorize the issue of
Treasury notes." approved the 23d day of De
cember, 1857, so far as they can be applied to
this act and not inconsistent herewith, are here
by revived and re enacted; and the sum of $500,
900 is hereby appropriated, out of any money in
the Treasury not otherwise appropriated, to ena-
BILE the Secretary of the Treasury te carry this
act into effect.


SIC. 4. And be il further enacted, That the
Secretary of the Treasury may receive from any
person or persons, any corporation, United
States notes deposit for less than thirty days,
in sums of not less than one hundred dollars, with
any of the Assistant Treasurer or designated De
positaries of the United States authorized by the
Secretary of the Treasury to receive them, who
shall issue therefor certificates Ofdeposit made in
such form as the Secretary of the Treasury shall
prescribe, and said certificates of deposit shall
bear interest at the rate of FIVE per centum per
annum; and any amount of United States notes
so deposited may be withdrawn from deposit at
any time after ten days notice on the return of
said certificates: Provided, that the interest on
all such deposits shall cease and determine at the
pleasure of the Secretary of the Treasury: And
prOuided further, that the aggregate shall not ex
ceed the amount of twenty FIVE million dollars.


SEC. 5. And be IL further enacted, That all du-
ties on imported goods which shall be paid in
coin, or in notes payable, or in demand notes
heretofare authorized to be received and by law
receivable in payments of public dues, and the
coin so paid, shall be set apart as a special fund
and applied as follows:


First, To the payment in coin Of the interest
on the bonds and notes of the United States.


Second. To the purchase or payment of one
pen centum of the entire debt of the United
States, to be made in each fiscal year after the


first day of July, 1862. which is to be set apart
sinking fund, and the interest of which shall in
like manner be applied to the purchase or pay
ment of the public debt the Secretary of the
Treasury shall from time to time direct.


Third, The residue thereof to be paid into the
treasury Of the United States.


The sixth and seventh sections define and pun
sh the crime of counterfeiting.l