The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-23

(PUBLIc-7No. "a. .... ....
AN ACT TO authorize an issue Of treasury notes. and
loan.
Be IL enacted By The Senate and House Of Represent
aiipss Of the United States Of fnsriea Ia Congress as
smbLsd, That the President Of the United States is
hereby authorized 10 treasury notes to be is
sued for such ssm or sums the exigencies Of the
government may require; and in place Of such Of the
same may be redeemed, to cause others to be is
sued, but not exceeding the sum Of ten millions OF
dollars Of this emission outstanding at any one Tune
and TO be issued under the limitations and other pro-
visions contained In the act entitled IAN act TO
thonze the issue Of treasury notes. approved the
twelfth Of October, one thousand eight hundred and
hirtyseyen, except that the authority hereby given
to issue treasury notes shall expire at the end OF one
year from the passage Of this act.
SEC. 2. .4nd be u further enacted, That the Pres
dent II in his opinion u shall be the interest Of the
United States so TO do, instead OF issuing the whole
amount OF treasury notes authorized by the first
section OF this act may borrow on the credit OF the
United States such an amount OF money as he may
deem proper and issue therefor stock OF the United
States for the sum thus borrowed, in the same form,
and under the same restrictions, limitations, and
provisions, as contained in the act Of Congress,
approved April fifteenth, one thousand eight hun
drsd and fortytwo, entitled "An act for the extern
sion Of the loan of eighteen hundred and forty-one
and for addition Olive millions Of dollars thereto
and for allowing interest on treasury notes dues"
Provided, hOrspu, That the sum so borrowed, to.
gether with the treasury notes issued by virtue Of
this act, shall not in the whole exceed the Of
ten millions Of dollars .8nd proridsd further, That
no commission shall be allowed or paid foe the
collation. of the loan authorized by this act; and also
that the said stock shall be redeemable at period
not longer than ten years from the issue thereof.
SEC. 3. find bed further enacted, That the treas
ury notes and the stock issued under the provisions
Of this act shall not bear higher rata Of interest
than SIX per centum per annum, and no part thereof
shall be disposed Of at less than par. ... ....
SEC. A.. Ind be u further enacted, That no COM
pensation shall be made to any officer, whose salary
Is liked by law, for preparing, signing, or issuing
treasury notes; nor shall any clerks be employed
beyond the number authorized by the act herein
ferred to-. .. .-.r..
SIC. 5. .asd be Il further snacisd, That the sum
Of fifty thousand dollars be, and the il hereby
appropriated out Of any money in the treasury not
otherwise appropriated for the purpose of paying
the amount Of certain treasury notes (Which having
been received or redeemed by any authorized officer
Of the government, were subsequently purloined or
stolen, and put into circulation without evidence
their face Of their having been cancelled) to the
spectiye holders, who may have received the same,
or any of them, for full consideration, in the usual
course of business, without notice or knowledge Of
the same having been stolen, cancelled, altered
and without any circumstances to cast suspicion on
the good faith or due caution with which they may
have received the same. ... ......
ar- JOHN w. DAVIS,
Speaker Of Lhe House Of Representatives.
..... G. M. DALLAS,
Vice President Of the United STATES
-ysa-... find President Of the Senate.
- 49, JAMES X. POLK.