[IIousu OF Representatives.') 
 
 HOUSE OF RE PRESENT ATIViJSS,.J^^ 12, I864.~0rdered to 
 fee printed. 
 
 [By Mr. Smith, of Alabama.] 
 
 PROPOSITION OF FIJNANCE. 
 
 1 Section 1 . The Cungres^ of the Confederate Stales of Amsrica do 
 
 2 enact, That the Secretary of the Treasury be required to issue 
 
 3 two hundred and fifty millions of dollars in notes of denomina- 
 
 4 tion of five hundred dollars to one dollar, redeemable in specie 
 
 5 two years after the ratification of a treaty of peace between the 
 
 6 Confederate Government and the United States ; that the holders 
 
 7 of Confederate notes, now in circulation, be allowed to exchange 
 
 8 the old notes for the said new issue at the rates of five dollars of 
 
 9 the old for one dollar of the new issue : Provided, That the said 
 10 holders shall present their notes for such exchange by the first 
 U day of May, 1364. 
 
 1 Sec. 2. That said new notes shall be receivable in payment of 
 
 2 all public dues, including export duties, and shall be a legal 
 
 3 tender in the payment of individual debts. 
 
 1 Sec. 3. That the payment of all the treasury notes now in 
 
 2 circulation, and not exchanged by the first day of May, as afore- 
 
 3 said, under the provisions of this act, shall bo suspended until 
 
4 two years after the ratification of a treaty of peace between the 
 
 5 Confederate Government and the United States, and shall not, in 
 
 6 the meantime, be receivable in the payment of any public dues 
 
 7 except the taxes under the tax bills of 1863. 
 
 1 Sec. 4. That the power given heretofore to the Secretary of 
 
 2 the Treasury to issue treasury notes be, and the same is hereby, 
 S revoked ; and that all the treasury notes received into the Treas- 
 4 ury, under the provisions of this act, shall -be destroyed.