

CONGRESS. (Tns WAR REVENUE LAW.) 



181 



trate or officer having lawful power to administer 

 such oaths, in such form and manner as may be 

 prescribed by the Commissioner of Internal Rev- 

 enue, which schedule, list, or statement shall con- 

 tain the names of each and every person entitled 

 to any beneficial interest therein, together with the 

 clear value of such interest, the duplicate of which 

 schedule, list, or statement shall be by him imme- 

 diately delivered, and the tax thereon paid to such 

 collector; and upon such payment and delivery of 

 such schedule, list, or statement said collector or 

 deputy collector shall grant to such person paying 

 such duty or tax a receipt or receipts for the same 

 in duplicate, which shall be prepared as hereinafter 

 provided. Such receipt or receipts, duly signed 

 and delivered by such collector or deputy collector, 

 shall be sufficient evidence to entitle such executor, 

 administrator, or trustee to be credited and allowed 

 such payment by every tribunal which, by the laws 

 of any State or Territory, is, or may be, empowered 

 to decide upon and settle the accounts of executors 

 and administrators. And in case such executor, 

 administrator, or trustee shall refuse or neglect to 

 pay the aforesaid duty or tax to the collector or 

 deputy collector, as aforesaid, within the time here- 

 inbefore provided, or shall neglect or refuse to 

 deliver to said collector or deputy collector the 

 duplicate of the schedule, list, or statement of such 

 legacies, property, or personal estate, under oath, 

 as aforesaid, or shall neglect or refuse to deliver 

 the schedule, list, or statement of such legacies, 

 property, or personal estate, under oath, as afore- 

 said, or shall deliver to said collector or deputy col- 

 lector a false schedule or statement of such legacies, 

 property, or personal estate, or give the names and 

 relationship of the persons entitled to beneficial 

 interests therein untruly, or shall not truly and 

 correctly set forth and state therein the clear value 

 of such beneficial interest, or where no administra- 

 tion upon such property or personal estate shall 

 have been granted or allowed under existing laws, 

 the collector or deputy collector shall make out such 

 lists and valuation as in other cases of neglect or 

 refusal, and shall assess the duty thereon ; and the 

 collector shall commence appropriate proceedings 

 before any court of the United States, in the name 

 of the United States, against such person or persons 

 as may have the actual or constructive custody or 

 possession of such property or personal estate, or 

 any part thereof, and shall subject such property 

 or personal estate, or any portion of the same, to be 

 sold upon the judgment or decree of such court, and 

 from the proceeds of such sale the amount of such 

 tax or duty, together with all costs and expenses of 

 every description to be allowed by such court, shall 

 be first paid, and the balance, if any, deposited ac- 

 cording to the order of such court, to be paid under 

 its direction to such person or persons as shall estab- 

 lish title to the same. The deed or deeds, or any 

 proper conveyance of such property or personal 

 estate, or any portion thereof, so sold under such 

 judgment or decree, executed by the officer lawfully 

 charged with carrying the same into effect, shall 

 vest in the purchaser thereof all the title of the 

 delinquent to the property or personal estate sold 

 under and bv virtue of such judgment or decree, 

 and shall release every other portion of such prop- 

 erty or personal estate from the lien or charge 

 thereon created by this act. And every person or 

 persons who shall have in his possession, charge, or 

 custody any record, file, or paper containing, or 

 supposed to contain, any information concerning 

 such property or personal estate, as aforesaid, pass- 

 ing from any person who may die, as aforesaid, shall 

 exhibit the same at the request of the collector or 

 deputy collector of the district, and to any law 

 officer of the United States, in the performance of 



his duty under this act, his deputy or agent, who 

 may desire to examine the same. And if any such 

 person, having in his possession, charge, or custody 

 any such records, files, or papers, shall refuse or 

 neglect to exhibit the same on request, as aforesaid, 

 he shall forfeit and pay the sum of five hundred 

 dollars: Provided, That in all legal controversies 

 where such deed or title shall be the subject of ju- 

 dicial investigation, the recital in said deed shall 

 be prima facie evidence of its truth, and that the 

 requirements of the law had been complied with by 

 the officers of the Government. 



" SEC. 31. That all administrative, special, or 

 stamp provisions of law, including the laws in re- 

 lation to the assessment of taxes, not heretofore 

 specifically repealed are hereby made applicable to 

 this act. 



" LOAXS. 



" SEC. 32. That the Secretary of the Treasury is 

 authorized to borrow from time to time, at a rate 

 of interest not exceeding three per centum per 

 annum, such sum or sums as, in his judgment, may 

 be necessary to meet public expenditures, and to 

 issue therefor certificates of indebtedness in such 

 form as he may prescribe and in denominations of 

 fifty dollars or some multiple of that sum ; and 

 each certificate so issued shall be payable, with the 

 interest accrued thereon, at such time, not exceed- 

 ing one year from the date of its issue, as the Secre- 

 tary of the Treasury may prescribe : Provided, That 

 the amount of such certificates outstanding shall at 

 no time exceed one hundred millions of dollars; 

 and the provisions of existing law respecting coun- 

 terfeiting and other fraudulent practices are hereby 

 extended to the bonds and certificates of indebted- 

 ness authorized by this act. 



" SEC. 33. That the Secretary of the Treasury is 

 hereby authorized to borrow on the credit of the 

 United States from time to time as the proceeds 

 may be required to defray expenditures authorized 

 on account of the existing war (such proceeds when 

 received to be used only for the purpose of meeting 

 such war expenditures), the sum of four hundred 

 million dollars, or so much thereof as may be neces- 

 sary, and to prepare and issue therefor, coupon or 

 registered bonds of the United States in such form 

 as he may prescribe, and in denominations of twenty 

 dollars or some multiple of that sum, redeemable in 

 coin at the pleasure of the United States 'after ten 

 years from the date of their issue, and payable 

 twenty years from such date, and bearing interest 

 payable quarterly in coin at the rate of three per 

 centum per annum ; and the bonds herein author- 

 ized shall be exempt from all taxes or duties of the 

 United States, as well as from taxation in any form 

 by or under Stiite, municipal, or local authority : 

 Provided, That the bonds authorized by this sec- 

 tion shall be first offered at par as a popular loan 

 under such regulations, prescribed by the Secretary 

 of the Treasury, as will give opportunity to the 

 citizens of the United States to participate in the 

 subscriptions to such loan, and in allotting said 

 bonds the several subscriptions of individuals shall 

 be first accepted, and the subscriptions for the 

 lowest amounts shall be first allotted: Provided 

 further, That any portion of any issue of said 

 bonds not subscribed for as above provided may be 

 disposed of by the Secretary of the Treasury at not 

 less than par, under such regulations as he may 

 prescribe, but no commissions shall be allowed oj 

 paid thereon; and a sum not exceeding one tenth 

 of one per centum of the amount of the bonds and 

 certificates herein authorized is hereby appropri- 

 ated out of any money in the Treasury not other- 

 wise appropriated, to pay the expense of preparing, 

 advertising, and issuing the same. 



