Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1814-03-19
BY AUTHORITY.
AN ACT

~ AN ACT
20 auth orishthe issuing of treasury notes
for the service of the year one thousand
eight hundred and fourteen.
BE il eaoetrd by the Senate and House of
Representatives ofthe United Sfafe8 of n.
mrrica in Congress assembled, That the Pre-
sidcnt of the United States be, and he Is here
by authorised to cause treasury notes. for
sum not exceeding five millions of dollars, to
be prepared, signed, and issued, in the man-
ner hereinafter provided.
Sec. 2. Ind be if further enacted, That
the President of the United States he, aud
he is hereby authorised to cause treasury
notes tor > further and additional sum not
exceeding in the whole five millions of dol
lars, or such part thereof as.he shall deem
expedicnt, to be prepared, signed, and is
sued, III the manner hereinafter provided;
butNtbc amount of money borrowed or OBJ
tanned for the notes which may be issued by
virtue OF this section, shall be deemed and
held to beeiu part of the sum which may he
authorised to be borrowed by virtue of any
act authorising a loan which may be passed
during the present session Of congress.
SEC. $. sdnd be il further enacted, That
the said treasury notes shall be- reimbursed
by the United States at such places respec>
lively, as may be expressed on the face of
such notes, one year respectively after the
day on which the same shall have been Is
sued tro;n which day of issue they shall
bear interest at the rate of Ave and two ffths
per centcni year, payable to the owner CT
owners of such notes, at the treasury, or by
the proper commissioner-ofl loans, or by the
officer designated for that purpose, at the
places and times respectively designated on
the face OF said notes for the payment of
principal.
Sec. 4. Ind DC IL further enacted, That
the said treasury shall be respectively
signed in behalf of the United States by per (,
sons tn be appointed for that purpose by the
president OF the United States, two of which
persons shall sign each note, and shah each
receive as a compensation for that service,
atthe rate of one dollar and twenty FIVE cents
for every hundred notes thus Signed by them
respectively: and the said notes shall likes
wise be countersigned by the commissioner
O. loans for that state where notes may res
pectivcly be made payable, or by the regis
ter Of the treasury. il made payable in the
. District Of Columbia, or by a person to be
appointed for thas purpose by the president
of the United States, if made payable in a
state for which there is no commissioner of
loans; which person or persons thus app
pointed she'll also receive a. compensation
for thas ssssice II The rate of one dollar and
fsss ssss senfs ~ sk.<.y hundred notes
thus signed by him or them respectively.
Sec. S. Ind be IL further enacted, That
the Secretary of the Treasury be, and he is
hereby authorised, with the appreciation of
the President of the United States, to cause
TO be issued such portion of the said tressu-
ry notes as the President may think exl.edi
ext, in payment of supplies or debts due by
the United States, to such public creditors
or other persons as may choose to receive
such notes in payment as aforesaid. at par
and the Secretary of the Treasury is further
authorised. with the approbationo of the Prcsi-
7 dent OF the United States, to borrow, from
time to time, not under par, such sums as
the President may think expedient, on the
credit of such notes; or to sell, not under
par, such portion of the said notes as the
President may think expedient: and it shalt
be good execution of this provision, to pay
such notes to such bank or banks as will re-
ceive the same at par, and give credit to
the Treasurer of the United States for the
amount thereof, on the day On which the
said notes shall thus be issued and paid to
such bank or banks respectively.
Sec. 6. ind be IL further enacted, That
the Secretary of the Treasury be, and he is
hereby authorised, with yhe ap rotation of
thu President of the Uni, ed States. to employ
an agent or agents for the purpose of selling
any portion of the notes which may be is
sued by virtue of this act. A commission
not exceeding one quarter Of one per cent.
ON the amount thus sold may, by the Secre-
tary ofthe Treasury, be allowed to such a.
gent or agents, and a sum not exceeding
twelve thousand five hund s dollars, to be
paid out Of any monies in the Treasury not
otherwise appropriated. is hereby appropri
ated for paying such Commission or commits
sions as may be thus allowed.
Sec. r .If,,d 6e IL fi,rrIey e,ncfeH Th,t
the said Treasury notes Shall be transfers.
bleby delivery and assignment, endorsed
thereon BY the person to whose order the
same shall ON the face thereof, have been
made payable.
Sec. 9. Ind 6eyit .fnrlher enacted, That
the said treasury notes, wherever made pay.
abe, snail be every where received in pay.
snent of all duties and taxes laid By the au
thcriiy of the United States, and of all pub
lie lands sold by the said authority. On e.
very such payment credit shall be given for
the amount OF both tie principal and the in ,
terest waich on the day of such payment,
niay appear due on the note or noes thus
given in payment : and TIC said interest shall
Oh such payments be computed at the rate
Of one cent and one half Of a cent per day,
OF every hundred dollars of principal, and
each month shsA be computed as containing
thirty days.
Sec. 9. Ind be IL .fdv1her enacted, That a.
ny prison making payment TO the United
States in tne said treasury notes, into the
hands Of any collector, receiver of public
monies, or other public officer or agent, shall
on books kept according to such forms as
shall be prescribed by the secretary of the
treasury, give duplicate certificates of the
number and respective amount Of principal
and interest of each and every treasury note
81. 4 49, a. Il -