The Sun.
London, England, 1866-05-07 00:00:00

THE UNITED STATES LOAN BILL.

The following is a copy of the "Loan Bill," as finally
passed by both Houses of Congress.
An Act to amend an Act entitled "An Act to provide
ways and means to support the Government," approved
March 3, 1865.

Be it enacted by the Senate and House of Representa-
. . .

tives of the United States of America, in Congress assem-
bled, That the act entitled " An Act to provide ways and
means to support the Government," approved March 3,
1865, should be extended and construed to authorise the
Secretary of the Treasury, at his discretion, to receive any
Treasury notes, or other obligations issued under any act
of Congress, whether bearing interest or not, in exchange
for any description of bonds authorised by the act to which
this is an amendment, and also to dispose of any descrip-
tion of Bonds authorised by said act, either in the United
States or elsewhere to such an amount, in such manner and
at such rates as he may think advisable, for lawful money
of the United States, or for any Treasury notes, certified
of indebtedness, or certificates of deposits, or other re-
presentatives of value, which have been, or which may be,
issued under any act of Congress ; the proceeds thereof to
be used only for retiring Treasury notes or other obliga-
tions issued under any act of Congress; but nothing
herein contained shall be construed to authorise any in-
crease of the public debt ; provided that of United States
notes not more than ten million of dollars may be retired
and cancelled within six months from the passage of this
act, and thereafter not more than four millions of dollars
in any one month ; and provided further, that the act to
which this is an amendment shall continue in force, in all
its provisions, except as modified by this act.

Section 2. And be it further enacted, That the Secretary
of the Treasury shall report to Congress, at the commence-
ment of the next session, the amount of exchange made or
money borrowed under this act, and of whom and on what
terms, also the amount and character of indebtedness
retired under this act and the act to which this is an
amendment, with a detailed statement of the expenses of
making such loans and exchanges.
The Great Western of Canada traffic is, for week ending
April 13, 1866, £16,423 Gs. 9d. sterling, on 345 miles, or
£l7 12s. Id. per mile per week. April 14, 1865,
£14,065 2s. 7d. sterling, on 315 miles, or £4O 15s. 4d. per
mile per week.

The Grand Trunk of Canada traffic is, for week ending
April 7, 1866, £27,888 Os. Od. sterling, on 1,377 miles, or
£2O ss. 6d. per mild per week. April 8, 1865,
£27,248 Os. Od. sterling, on 1,335 miles, or £l9 15s. 9d. per
mile per week.

The Detroit and Milwaukee traffic is, for week ending
April 12, 1866, £6,772 ls. Od. sterling, on 189 miles, or
.£35 16s. Bd. per mile per week. April 13, 1865,
£6,513 13s. 4d. sterling, on 189 miles, or £3l 12s. 6d. per
m le per week.

We have to report a weak and declining market in
London for American securities since our last ; there has
been but little demand for home account, and quotations
have been almost entirely governed by continental opera-
tions, which, during the past week, have been principally
large sales. United States 5-20 close 681 to I, nearly 2
per cent. lower, while Illinois and Eries are relatively
more depressed, the former being last quoted 77i to 78i,
and the latter 49k to 50k; Illinois thus showing a decline
of 3i dollars, and Eries rather more than two dollars.
Atlantic and Great Western securities have participated
in the general depression ; the Debentures close 75 to 76,
and the Consolidated Bonds 60 to 62. '

OFFICIAL TRANSACTIONS FOR THE WEEK. —.United States
6 per Cent. 5.20 Bonds, 1882: Thursday, 701 f 1 ;
Friday, 74 70 1; Saturday, 70 1; Monday, 691 I 9 ;
Tuesday, —; Wednesday, 6814 9} 81. Atlan. and Gt.
Westn. (Penns. Sect.) Ist Mrt. Bds. 1877: Thursday,
731. Atlan. and Gt. Westn. Consolidated Bonds, 1895:
Thursday, GO 1 1; Friday, 5213 ; Monday, 60 ; Tuesday,
—; Wednesday, GO 32- 59 604. Erie Shares, $lOO, all
paid : Thursday, 524 1 s ; Friday, ; Saturday, 52 1k ;
Monday, 511 a 4 ; Tuesday, —; Wednesday, 54 14 9} ;
Erie Shares, 6 per Cent. Convertible Bonds : Thurs-
day, 73 ; Monday, 74; Wednesday, 731. Illinois Central
Shares, all paid : Thursday, 801 k ; Friday, 801 1;
Saturday, 79k ; Monday, 791 89 ; Tuesday, ; Wednes-
day, 781 k 8.

Senator Doolittle is preparing a Freedmen's
Bureau Bill which will be in accordance with the Pre-
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