The New era. [volume] ([Portsmouth, Va.]) 1845-1847, 1846-07-28
Laws of He United States passed at che Nrst
Session Of The I\centu Ninth Congress.
PUBLic-No. "a.
AN ACT To authorize an issue OF treasury
notes, and loan.

PUBLiC-No. "a.
AN ACT To authorize an issue of treasury
notes. and loan.
BE enacted by The Senate and House Of
Representatives af The United States of .4meri
ca an Congress assembled, That the President
ct the United States is hereby authorized To cause
treasury no,es to be- issued for such sum or sums
as the exgencies Of the government may require /;
and In place of such of the same as may be re-.
deemed, tn cause others to he issued bnt not ex-
ceed'ng the sum of ten millions Of dollars of this
emission outstanding at any one time, and to he
Issued under the limitations and other provisions
contained in the act entitled An act authorize
the issue of treasury notes." approved the twelfth
of October, one thousand eight hundred and thirty
seven. except that TIE authority hereby given to
Issue treasury notes shall expire at the end of one
year from the passage of this act
SEC. 2. find be It further enacted, That the
President, If in his opinion it shall he 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 Dor
rowed, in the same form, and under the same
restrictions, limitations. and provisions, as are
contained in the act of Congress- approved April
fifteenth, Thousand eight hundred and forty
two, entitled &c An act for the extension of the
loan of eighteen hundred and forty one. and for
an addition Of FIVE millions of dollars thereto and
for allowing interest treasury notes due 30
Provided, however. That the sum SO borrowed,
together with the treasury notes issued by virtue
of this act, shall not in the whole exceed the sum
of ten millions of dollars find prorided further
That no commission shall be allowed or paid for
the negotiation of the loan authorized by this act
and also that the said stock shall he redeemable
at period not longer than ten years from the issue
thereof.
SEC. 8. find be it further enacted, That the
treasury notes and the stock issued under the pro.
visions of this act shall not bear higher rate of
interest than six per centum per annum, and no
part thereof shall be disposed of at less than par
SEC. a. find be II further enacted, That no
compensation shall be made to any officer. whose
salary is fixed by law. for preparing, signing, or
issuing treasury notes: nor shall any clerks be
employed beyond the number authorized by the
act herein referred To.
SEC. S. find be it further enacted. That the
sum of fifty thousand dollars be, and the same is
hereby. appropriated out of any money in the
treasury not otherwise appropriated for the pur-
pose of paying the amount of certain treasury
notes (Which, having been received or redeemed
by any authorized officer of the government were
subsequently puroined or stolen, and put into cir
culation without evidence on their face of their
having been cancelled) to the respective 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, or cancelled, or altered, and
without any circumstances to cast suspicion on the
good faith or due caution with which thew NAV
have received the same.
JOHN w. DAVIS,
Speaker Of The House Of Representatives.
G. Nj. DALLAS,
Vice President Of The United States
find President Of the Senate
APPROVED, July %, 1916.
JAMES X. POLK.