The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-28
TREASURY DEPARTMENT, I

August ~, lo4l.
An ael having been passed By Congress and , ap.
list ultiIno follows, viz: 5s sa
AN ACT authorizing loan not exceeding the sum
OF twelve millions Of dollars.
Do u enacted by the Senate and House Of Repre-
senfafires Of The United States If Americ ~ Con-
gress assembled, That the President of the United
States IL hereby authorized, at any time within one
year after the passage OF this act TO borrow on Inc
credit of the United States sum not exceeding twelve
millions Of dollars, much thereof as in his opn
ION the exigencies of the Government may require, al
rate Of interest," payable quarterly semi annually
not exceeding six per centum per annum which loan
shall be made rembursable, either at the will OF the
Secretary Of the Treasury, after six months notice.
or at any time after thee years from the first day OIL
January next and said money borrowed shall be
applied in addition TO the money in the Treasury
which may be received therein from other sources
to the payment and redemption Of the Treasury notes
heretofore authorized, which or may be outstand
ing and unpaid, and TO defray any of the public ex-
penses which have been heretofore, or which may be
authorized by law, which stock shall be transferable
only on the books Of the Treasury.
Sec. 2. And be IL further enacted, That the Score
ary of the Treasury be- aud he is hereby authorized
with the consent Of the President to be pre-
pared certificates of stock signed by the Secretary and
countersgned by the Register Of the Treasury, for
tho SUN TO be borrowed, any part thereof bearing
an interest not exceeding SIX per ccntnm per annum
and transferable and rembursable aforesaid and TO
cause the said certificates Of stock to be sold Prooi
ded, that stock be sold below par.
Sec. s. And be IL further eaacted That the Score
tary of the Treasury be- and he is hereby authorized
10 receive proposals for taking the said loan or to EN-
ploy agent agents for the purpose Of negotiating
the same, and TO pay t6hm or them reasonable com
mission, not exceeding one tenth OF per cent. on
the amount negotiated which to be allowed to
such agent or agents and such expense as may be ne
cessary incurred in printing and issuing certificates
of stock, and other expenses incident the due
cuon 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 4. And be IL further enacted, That the Secre-
tary Of the Treasury hereby authorized purchase
al 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 on the Treasury, and
any surplus In the Treasury is hereby appropriated to
that object
Sec 5. And be IL further enacted That the faith Of
the United States be- and is hereby, pledged for the
punctual payment Of the interest and redemption Of
said stock. Es
Approved July 81, 1871.
The undersigned, Secretary Of the Treasury, will,
in Of the provisions Of said act receive pro-
posas at the Treasury, until the Goth instant incu
sive, for the subscription Of one million OF doars--a
part Of the loan authorized by the said act The pro-
posas will state the lowest Of interest for which
specie the notes of specie-paying Banks at par,
will be placed the credit Of the Treasurer of the
United States in such repositories may designated
by the Secretary in Boston, New York, or Phiade
pha.
Stock will be inscribed on the books of the Depart
ment, and certificates issued for the sums thus agreed
for, evidence of the deposte Of the money, pro-
vded above bearing interest from the date of the de-
poste and rredeemable before the 3lst Of December
1874 And all stock inscribed the books under the
proposals received for this portion Of the loan will bear
the same rate of interest, but offer for less
than 81, 900 will be considered.
Transfers will be made at the Treasury on the per-
sona surrender of certificates by individuals in whose
the stock stands, by transmitting the certf
cate to the Register of the Treasury by mail, with
special endorsement thereon, atested by notary pub
lie, the clerk Of court of record under their
spective seals. In cases where stock shall stand in
the name of corporation body polite, transfers
will be made upon sp'cial endorsement Of the proper
officers of the corporation under the corporation
seal.
The transfer books will be closed for fifteen days
previous to the close of each quarter Should reques,
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 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 Of the Treasury.
PosT OFFICE DEP .RTMENT