The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-24
TREAsuRy DEpARTmENT,
August l9. le4l. {

=. August 10, lS4l.
An act having been passed by Congress and APP
proved by the President of the United States on the
2lsl ultImo as follows, viz;
AN ACT authorizing loan not exceeding the sum
of twelve millions of dollars
BE IL enacted by the Senate and House OF Repre-
senlafipes Of the United States Of America IN Con-
gress assembled That the President of the United
States is hereby authorized, at any time within one
year after the passage of this act to borrow, on he
credit of the United States sum not exceeding Twelve
millions of dollars so much thereof as IN ms op'h.
the exigencies of the Gov trnment may require al
rate of interest," payable quarterly or semi annually,
not exceeding six per centum per annum, which loan
shall be made rembursabe, either al the VIII OF ,ho
Secretary Of the Treasury, after six months notice.
al any time after three years from the hrst Gay OF
January next and said money SO borrowed shall DC
applied IN addition TO the money now in the treasury
which may be received therein from other sources,
TO the payment and redemption Of the Treasury notes
heretofore authorized, which may be outssand-
ing and unpaid and to defay any of the pubic ex-
penses which have been heretofore or which may pe
authorized by law, which stock shall be transferable
only the books Of the Treasury.
Sec. 2 And be IL further enacted, That the Secre-
tary of the Treasury be- and he Is hereby authonzed
with the consent of the President to cause to be pre-.
pared certificates Of stock signed by the Secretary and
countersigned by the Register of the Treasury, Tor
the to be borrowed, any part thereof bearing
interest not exceeding six per centum per annun
and transferable and aforesaid ana TO
the said certificates Of stock to be sold fr0rt
ded that stock be sold below par.
Sec. g. And be II further enacted, That the Secre,
ary of the Treasury be- and he is hereby authorized
TO proposals for taking the said loan or TO en-
ploy agent agents for the purpose OF negotiating
the same, and TO pay to him them reasonable com
mission, not exceeding onetenh OF one per cent ON
the amount negotiated which sum TO be allowed TO
such agent agents. and such expense may be ne
cessary incurred in printing and issuing certificates
of stock, and other expenses incident to the due exc
culon of this act in all not exceeding twelve thousand
dollars, which sum is hereby appropriated for that pur-
pose and shall be paid of any money in the Trea-
sury not otherwise appropriated
Sec. A. And be further enacted, That the Secre-
ary OF the Treasury hereby authorized TO purchase
at any time before the period herein limited for the
redemption of stock hereby authorized such portion
thereof the funds Of the Government may admit Of
after meeting all the demands the Treasury, and
any surplus in the Treasury is hereby appropriated to
that object.
Sec S. And be il further enacted That the faith of
the United States be, and is hereby pledged for the
punctua payment of the interest and redemption OF
| said stock
| Approved July 81, ls4l
The undersigned, Secretary of the Treasury, will,
pursuance Of the provisions Of said act receive pro-
posas at the Treasury, until the 26h instant nclu-
sve, for the subscription of one million of dollars-a
part Of the loan authorized by the said act The pro.
posas will the lowest rate Of interest for which
specie the notes of specie paying Banks at par,
will be placed to the credit OF the Treasurer of the
United States, in such repositories may designated
by the Secretary in Boston, New York, Pniladel-
phia.
Stock will be inscribed on the books of the Depart
men and certificates issued for the sums thus agreed
for evidence of the deposite of the money as pro-
vided above bearing interest from the date of the de-
posite and irredeemabe before the 3ls Of December
/ 1874 And all stock inscribed the books under the
proposals received for this portion of the loan will bear
the rate of interest, but offer for sum less
than S. 600 will be considered.
Transfers will be made the Treasury on the per-
sona surrender Of certificates by individuals in whose
the stock stands, by transmitting the certi
cate to the Register of the Treasury by mail, with a
special endorsement thereon attested by notary pub
lie, or the clerk Of court of record under their re-
4 specve seals Ia cases where stock shall stand in
the name of corporation body polite, transfers
will be made upon special endorsement of the proper
officers Of the corporation, under the corporation
seal.
The transfer books will be closed for fifteen days
previous the close of each quarter Should requesl
be received by the Register of the Treasury before the
close of the books at the end of quarter from any
person in whose stock stands that his dividend
of interest be paid at Boston, New York. Philadel-
phia, or Baltimore, payment will be made according
~ Otherwise the quarterly interest will be payable
the Treasury.
T. EWING,
Aug 2l-4t Secretary efhe Treasury
EADNT IynD CAT II