The Sun.
London, England, 1842-05-09 00:00:00

LOAN BILL.

The following is a copy of the Loan Bill, as passed
by the Congress of the United States :
" A Bill for the extension of the Loan of 1841, and

an addition of 5,000,000 dollars thereto.
" Be it enacted, &c., That the time limited by the
first section of the Act of Congress, entitled ' An Act
authorising a loan not exceeding the sum of
12,000,000 dollars,' approved July 21, 1841, for
obtaining said loan, shall be, and the same is, hereby
extended for one year, from the passage of this Act.
" Sec. 2. And be it further enacted, that so much
of the said loan as may be obtained after the passage
of this Act shall be made reimbursable, as shall be
agreed upon and determined at the time of issuing
said stock, either, at the will of the Secietary of the
Treasury, after six months' notice, or at any time not
exceeding 20 years from the Ist day of January next.
" Sec. 3. And be it further enacted, that the certi-
ficates hereafter to be issued for said loan may, when
required, be in such form as shall be prescribed by the
Secretary of the Treasury, so that the stock may be
transferable by delivery of the certificate, instead of
being assignable on the books of the Treasury.
" Sec. 4. And be it further enacted, that the pro-
viso to the second section of the said Act is hereby
repealed ; and the Secretary- of the Treasury is hereby
authorised to cause the stock hereafter to be issued,
to be disposed of at the highest price which he can
obtain for the same, on its being advertised a reason-
able time for proposals ; but no stock whatever shall
be sold below par, except upon, and in pursuance of,
a specific advertisement, and by virtue thereof.
" Sec. 5.. And be it further enacted, that the moneys
arising from duties on goods, wares, and merchandise
which may be imported into the United States, or so
much thereof as shall be equal to the payment, from
time to time, of the interest, and to the ultimate re-
demption of the principal of the stock hereafter to be
issued under and by virtue of this Act and the said
Act"of July 21, 1841, hereby amended, and so much
thereof as may be necessary to pay the interest on
said stock, and redeem the same when due, is hereby
appropriated to that object, to be first applied by the
Secretary'of the Treasury to such payments and re-
demption.
" "Sec. 6. And be it further enacted, that it shall be
the duty of the Secretary of the Treasury to report to
Congress, at the commencement of the session, the
amount of money borrowed under this Act and the
Act hereby amended, and of whom and upon what
terms it shall have been obtained, with an abstract or
brief statement of all the proposals submitted for the
same, distinguishing between those accepted and those
rejected ; and a detailed statement of the expense of
making such loans.
" Sec. 7. And be it further enacted, that all the
provisions of the said Act, not hereby modified or
changed, shall be and remain in forcer and apply to
this Act.

" See. 8. And be it further enacted, that the Presi-
dent of the United States is hereby authorised to
borrow an additional sum, not exceeding the sum of
5,000,00.0 dollars, if, in his opinidn, the. exigenci_
the Government may require the-same ; -whichaclw-