r. ■" 
 
 f House Bill, No. 231.] 
 
 HOUSE OF HEPRESE:^7TATIVES, November 26, 1864.— Real 
 
 first and second times, m;^dc spftoi.i.l order, and ordered to be printed. 
 
 [By Mr. Lvon, from Committee on Ways and Means.] 
 
 A. BILL 
 
 To be entitled «* An Act to exempt from taxation loans made on 
 hypothecation of non-taxable bonds. 
 
 1 Section 1. The Congress of the Confederate States of America do 
 
 2 enact, That henceforth'no tax shall be assessed upon either the 
 
 3 principal or the interest of loans made to the Confederate States, 
 
 4 upon the hypothecation of bonds of the said States, whereof the 
 
 5 principal and interest are exempted from taxation. 
 
 1 Sec. 2. This act shall be in force from the passing thereof.