Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-07-16
AN ACT authorizing loan not exceeding the sun
Of twelve millions of dollars

/ AN AZ authorizing loan not exceeding the sum
OF twelve millions of dollars.
BE It enacted by the Senate and House Of Re.
presentauvcs OF the United States of America IN
| Congress assembled, Tha, the Presdeut fthe Uni.
ted States is hereby authorized, any time within
one year from the passage OF this act to borrow on
the credit oil the United States, q sum not exceed
ing twelve millions OF dollars OF so much thereof
| IN his opinion the oxlgencies of the Government
may require, az rate OF interest, payable quarter
! ~ or sem-annuSly, not exceeding six per centlm
| per annum, which .oan shall be made reimbursable
either at the Will OF the Secretary Of the Treasury
after SIX months notice, at any time af err three
years from the first day OF January next; and said
money so borrowed shall be applied in addition To
the money now 10 the Treasury, or which NAV be
received therein from other sources to the payment
and redemption OF the Treasury notes heretofore
! authorized, which are or may be outstanding and
! unpaid, and TO deiray any OF the public expenses
which have been heretofore which may be author
! zed by law, which stock shall be transferable on
| the books OF the Treasury.
Sec. 2. And be u further enacted, That the Sc.
creiary Of the Treasury be- and he is herebv autho
rIzed with the consent Of the President, to cause 10
DE prepared certificates Of stock, signed by the Sc
| cTeiary and counIersigned by the Register Of the
treasury, Tor the sum 10 be borrowed, or any part
! thereof, bearing all interest not exceeding SIX per
centum per snuum, and transferable and reimburse
bic as Aforesaid, and TO the said certificates Of
stock TO be sold: Provided, That no stock be sold
below par.
StS' D. Allu Oe u luTlher enacted, i nat the Sc
crelary Of the Treasury he, and he is hereby, au-
thorized TO receive proposals Tor taking the said loan
or to employ an agent or agents for the purpose of
negotiating the same, and to pay to him or them a
/ reasonable commission, not exceeding ne.tenth Of
one per cent. on the amount negotiated, which
sum TO be allowed TO such agent or agents and such
| expense as may be necessarily incurred in printing
and issuing certificates Of stock, and other expenses
incident TO the due execution Of this act, in al no,
| exceeding twelve thousand dollars, which sum is
hereby appropriated for that purpose, and shall be
P.Id out OF any money in the Treasury no. other
wise appropriated.
! Sec. !. And be il further enacted, That the Sc
cretary Of the Treasury is hereby authorized to pur-
chase at any time before the period herein limited
! Tor the redemption Of sock hereby authorized such
portion thereOias the funds ofthe Government may
admit Of, after meeting all demands on the Trea.
sury, and any surplus IN the Treasury Is hereby Do.
| proPrited to that object.
Sec. .. Anl be II further enacted, Tia, the faith
OF the United States be, and IS hereby, pledged for
the punc'ua payment Of the interest and redemption
| OF SAID stock.
Mr. CAVE JOHNSON asked the yeas and NAYS
which were ordered, and, being taken, were as fol.
, lows Yeas 1874, nays %.