Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-05-07
TPuBLIc-No. l5.1

Treasury notes due.
Be IL enacted by the Senate and House of
Representatives Of The Unitcd States of
america in Congress assembled, That the
time limited by the first section of the
act of Congress, entitled can act authori-
zing loan not exceeding the sum of
twelve millions of dollars" approved July
twenty-frst, eighteen hundred and forty
one, for obtaining said loan, shall be, and
the same is hereby, extended for one year
from the passage of this act.
Sec. ,. AAd be ii further enacted, That
50 much of said loan as may be obtained
after the passage of this act shall be made
rembursable as shall be agreed upon and
determined at the time of issuing said
stock, either at the will of the Secretary
Of the Treasury, after six months notice.
or at any time not exceeding twenty wears
from the first day of January next.
Sec. 3. Ind be 1t further enacted, That
the certificates hereafter to be issued for
said loan may. when required be in such
form as shall be prescribed by the Secre-
may be transferable by delivery of the
certificate, instead of being assignablc on
the books of the Treasury.
Sec. 4. And be it further enacted, That
the Secretary of the Treasury be, and he
hereby is, authorized to dis pose of the
stock hereafter to be issued, or any part
thereof, at its par value, but no part thereof
shall be disposed CT under par until the
same has been advertised a reasonable
time, and proposals for subscription to said
loan invited. And the said Secretary is
hereby authorized to accept such propo-
sails, if he deem it for the interest of the
United States SO to do, as shall offer the
highest price for said stock or any part
thereof; or TO appoint an agent or agents
as provided in the third section of the
act approved July twcnty-one, eighteen
hundred and forty-one, before recited, tc
negotiate the same: Provided, That nc
stock shall be disposed of at lower rate
than the highest price offered in said pro-
posals.
Sec. 5. And be 1t 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 pay
ment, from time to time, of the interest,
and to the ultimate redemption of the
principal of the said stock, be, and the
same are hereby, pledged for the payment
and redemption of the said stock hereafter
to be issued under and by virtue of this
act and the said act of July twenty-frst
eighteen hundred and forty lone, 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 redemption.
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 next 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 detailed
statement of the expense of making such
loans.
Sec. T. And be Hfurther enacted, That
all the provisions of the said act, moi
hereby modified or changed, shall be and
remain in force, and apply to this act.
Sec. 8. and be dfunher enacted, That
the President &c the United States is here.
by authorized TO borrow.an additional sum-
not exceeding the sum Of five millions of
dollars. if in his opinion the exigences Of
the Government shall require the same;
which additional loan shall be made within
the time and according to the provisions of
said act, as modified by this
Sec .. and be ii further enacted, That
all treasury notes heretofore issued under
the act entitled "An act to authorize the is
suing Of Treasury notes." approved the
twelfth day Of October, eighteen hundred
and thirty and the acts. subsequent
thereto, and now outstanding unredeemed.
or which may hereafter be issued under
and by virtue Of the same, shall, if due and
unpaid before the fifth day of March, eigh-
teen hundred and forty-two, bear interest
at the rate of six per cent per annum from
that day; and when they may become due
hereafter, or may have become due since
the said fifth of March, eighteen hundred
and iorty-two, shall bear interest from the
day Of their SO becoming due, at the rate
of six per cent. per annum, until they shall
be respectively redeemed: Provided, That
such interest shall cease at the expiration
Of sixty days notice, to be given at any
time by the Secretary of the Treasury in
one or more of the principal papers pub
lishcd at The seat of Government, of rea-
dness to redeem the same. And the said
interest shall be payable semi-annualIy at
the Treasury Of the United States, on the |
first days of January and July in every
year.
JOHN WHITE