[House Resolution, No. 21.]
HOUSE OF REPRESENTATIVES, Dec. 14, 1863.—Referred to
Special Committee on Currency, and ordered to be printed.
[By Mr. Chambliss of Virginia.]
RESOLUTION".
1 Resolved, That the Special Committee on the Currency, &c.,
2 inquire into the expediency of passing a bill, embracing the
3 substance of the following provisions :
4 I. That all treasury notes, outstanding on the 1st day of
5 January, 1864, be funded before the 1st day of May, following,
6 in bonds bearing the rate of interest, expressed on the face of
7 the notes. The bonds to be payable at the end of twenty years.
8 or sooner, at the option of the Government.
9 II. The treasury notes not funded before the 1st day of May,
10 1864, shall cease to be currency ; but the note shall remain as
11 the evidence of debt against the Government, payable according
12 to its tenor.
13 III. At no one time, after the 1st day of January, 1864, shall
14 there be issued and put in circulation, an amount of treasury
15 notes exceeding ($240,000,000) two hundred and forty millions^
. 2
16 IV. A tax of 6 per cent, to be levied on the value of# all prop-
17 erty and credits, within the Confederate States, owned aind held
18 on 1st day of May, 1864—payable, one per cent, on 1st July,
19 1864, one per cent, on 1st day of September, one per cent, on
20 1st November, and one per cent, on 1st day of January, 1865.
21 Property to be assessed on the basis of its value in 1860.
22 V. A tax on incomes, and a registration tax.
23 VI. An export duty on cotton, tobacco and naval stores
24 pledged to the payment of the interest, and the ultimate redemp-
25 tion of the whole public debt.
26 VII. Taxes to be payable in coin, in coupons, or other evi-
27 dences of interest, due on Confederate bonds, in bank notes, or
28 in treasury notes, issued after 1st day of January, 1864.
29 VIII. Exempt from taxation, property of the value of $2,000
30 in the hands of each non-commissioned officer and private, in
31 the military or naval service of the Confederate States, and the
32 same amount in the hands of the widow of any officer or soldier,
33 who has been killed, died from wounds received, or disease con-
34 tracted in the service.