Excerpt from The True Greenback, or the Way to Pay the National Debt: Without Taxes, and Emancipate Labor Be it enacted by the Senate and Home of Representatives of the United States of America in Congress assembled, That the Secretary of the Treasury of the United States, or such officer as may be authorized, be, and he is hereby, authorized and required to issue Treasury certificates, not bearing interest, in denominations of one, two, three, five, ten, twenty, fifty, one hundred, five hundred, and one thousand dollars, which Treasury certificates shall be receivable in payment of all debts and demands of every kind due, or which may become due, to the United States, and of all claims or demands against the United States of every kind whatsoever, (except that portion of the bonded debt created prior to the first day of July, one thousand eight hundred and sixty-one, and the interest and principal of the national debt which has been by law expressly made payable in coin, ) and shall also be lawful money and a legal tender in the payment of all debts, public and private, within the United States, and shall be receivable for, or convertible into, the interest-bearing bonds of the United States, authorized to be issued by this act, when presented at the Treasury Department of the United States in sums of not less than one hundred dollars. Sec. 2. And be it further enacted, That the Secretary of the Treasury of the United States, or such other officer as may be authorized by law, be, and is hereby, required to issue bonds of the United States in denomination of not less than one hundred dollars nor more than ten thousand dollars bearing lawful interest, and payable or redeemable in Treasury certificates, authorized to be issued and declared lawful money of the United States by this act, when presented to the Treasury Department of the United States at any time after three months from the date thereof: Provided, That bonds shall be dated on the first of January, April, July, and October. Sec. 3. And be it further enacted, That the bonds hereby authorized, and all other interest-bearing obligations of the United States issued after the passage of this act, shall bear interest at the rate of three per centum per annum, payable semi-annually in the Treasury certificates or lawful money authorized by this act, until otherwise provided by law: Provided, That Congress may change the rate of interest on the bonds hereby authorized, and on all other interest-bearing obligations of the United States issued after the passage of this act, when in their judgment the public interest would be promoted thereby; but no law making any alteration in the rate of interest on the public debt shall take effect for six months after its passage. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1868 edition. Excerpt: ... A BILL To Establish A Uniform Currency, Provide For The Management And Liquidation Of The National Debt, And For Other Purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Treasury of the United States, or such officer as may be authorized, be, and he is hereby, authorized and required to issue Treasury certificates, not bearing interest, in denominations of one, two, three, five, ten, twenty, fifty, one hundred, five hundred, and one thousand dollars, which Treasury certificates shall be receivable in payment of all debts and demands of every kind due, or which may become due, to the United States, and of all claims or demands against the United States of every kind whatsoever, (except that portion of the bonded debt created prior to the first day of July, one thousand eight hundred and sixty-one, and the interest and principal of the national debt which has been by law expressly made payable in coin, ) and shall also be lawful money and a legal tender in the payment of all debts, public and private, within the United States, and shall be receivable for, or convertible into, the interest-bearing bonds of the United States, authorized to be issued by this act, when presented at the Treasury Department of the United States in sums of not less than one hundred dollars. Sec. 2. And be it furt7ier enacted, That the Secretary of the Treasury of the United States, or such other officer as may be authorized by law, be, and is hereby, required to issue bonds of the United States in denomination of not less than one hundred dollars nor more than ten thousand dollars bearing lawful interest. and payable or redeemable in Treasury certificates, authorized..