R.6.^. 
 
 I House Bill, No. 31.] 
 
 HOUSE OF REPRESENTATIVES, December 16, 1863.— Read 
 Urst and second times, and referred to Special Committee on the Cur- 
 rency, and ordered to be printed. 
 
 [JBy Mr. Foster.] 
 
 A. BILL 
 
 To be entitled An Act to amend An Act entitled '•'■ An Act to provide 
 for the funding and further issue of treasury notes," approved 
 March 23, 1863. 
 
 1 Section 1 . The Congress of tlie Confederate States of America do 
 
 2 enact^ That all treasury notes issued previous to the 1st day of 
 
 3 January, 1864, or that may hereafter be issued previous to tl ■ 
 
 4 Ist day of January, 1864, may be convertable, at the pleasure 
 
 5 of the holder, into Confederate bonds, bearing six per cent. 
 
 6 interest; the interest payable semi-annually in gold and silver; 
 
 7 this privilege to extend to the holder of treasury notes, until six 
 
 8 months after the approval of this act; but after that period, 
 
 9 treasury notes may not be converted into bonds, bearing a 
 
 10 greater interest than four per cent., the interest payable aemi- 
 
 1 1 annually in gold and silver. 
 
 1 Sec. 3. That all notes issued subsequent to the 1st day of 
 
2 
 
 3 January, 1864, under the provisions of[this act, shall be, and are 
 
 3 hereby, declared to be a legal tender, and that the guaranty of 
 
 4 such of the Confederate States, as have been, or may hereafter 
 
 5 be made, shall be, in the first place, applied to the treasury notes 
 
 6 that may be issued subsequent to the 1st day of January, 1864, 
 
 7 and such guaranties shall protect the notes issued subsequent to 
 
 8 the 1st day of January, 1864, to the exclusion of all other 
 
 9 treasury notes. 
 
 1 Sec. 3. That in lieu of all other authority to issue treasury 
 
 2 notes heretofore granted to the Secretary of the Treasury, he 
 
 3 shall be authorized to issue monthly, during the present war, an 
 
 4 amount not exceeding millions of dollars of such notes, 
 
 5 payable six months after the ratification of peace between the 
 
 6 Confederate States and the United States ; they shall be in such 
 
 7 form, and in such denominations, as the Secretary of the Treasury 
 
 8 may prescribe ; and each note shall specify the month of its 
 
 9 issue ; and the authority hereby given to the Secretary of the 
 
 10 Treasury to issue treasury notes, shall cease on the meeting of 
 
 1 1 the first Congress after the ratification of peace between the 
 
 1 2 Confederate States and the United States. 
 
 1 Sec. 4. That all treasury notes heretofore issued, or that may 
 
 2 hereafter be issued, shall be receivable in payment of all public 
 
 3 dues, except in the payment of export duties. 
 
 1 Sec. 5, That the holder of treasury notes, issued subsequent 
 
3 
 
 2 to the Ist day of January, 1864, may, at any at time within 
 
 3 twelve months from the time of their issue, convert the same into 
 
 4 Confederate bonds, bearing interest at the rate of six per cent., 
 
 5 the interest to be paid semi-annually in gold and silver, which 
 
 bonds shall be covered by tire guaranties of the several States, 
 
 7 in the same manner that the notes given for such bonds were 
 
 8 guarantied so that the conversion of such notes into bonds shall 
 
 9 not impair the security that was afforded to the holder of such 
 10 guaranty. 
 
 1 Sec. 6. That Congress shall have the power to require such 
 3 notes to be funded at any time after twelve months from the 
 
 3 issuance of such notes into bonds bearing six per cent, interest; 
 
 4 such bonds to be in such form as the Secretary of the Treasury 
 b may prescribe, the interest payable semi-annually in gold and 
 
 6 silver, to be in%ured by coupons annexed, and so marked and 
 
 7 identified as to show such bonds are to be first secured by the 
 
 8 guaranty of the States as aforesaid. 
 
 1 Sec 7. That a tax of five per cent, per month be levied on all 
 
 2 outstanding treasury notes after the 1st day of February, 1864, 
 
 3 to be collected on the first day of each and every month. 
 
 1 Sec. 8. Be it further etMcted, That no treasury notes, bearing 
 
 2 interest, shall hereafter be issued, and all laws in conflict with 
 
 3 this act are hereby repealed, 
 
t >V V A