Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-02-12
APPRovED January c6, l847.
IPUBLIc-N0. Al
PUBLIc-NO. 4.
AN ACT authorizing the issue Of treasury nUIes
lnnn and E,r her n,nrnnsns


AN ACT authorizing the issue Of treasury nu;es,
loan and for other purposes.
Be II enacted BY the Senate end House Of Rep
yeScntqtires of the United States Of america IN
Congress assembled, That the President of the
United states il hereby authorized to cause treas
urY notes, 70. such the exigencies
of the government may require, but not exceeding,
in the whole amount of notes issued, the sum of
twenty three millions of dollar. and of denomina-
lions not less than fifty dollars for any one note,
10 be prepared signed, and issued, in the manner
hereinafter provided
SIC. ?. And be it further enacted, That the
said treasury notes authorized to be issued by the
first section of this act shall be reimbursed and re.
deemed by the United States at the treasury there
of after the expiration of one year or two years
from the dates of the said notes respectively from
which dates they shall bear such interest, unit
they shall be respectively redeemed, as shall he
expressed upon the face Of the said notes which
rate Of interest upon each several issue of the said
notes shall be fixed Ivy the Secretary of the Treas
uTv, 10y and with the al ice and appreciation of
the President; but shall IN no exceed the
Of interest of six per centum per annum Pr0ri-
dcd That after the maturity of any of said notes,
such interest shall at the expiration of sixty
DAYS notice, 10 be given at any time by the Sec
Tetarv of the Treasury, in more Of the prin-
cipal papers published at the seat of government
of readiness 10 redeem the same. The reim-
bVrsement herein provided for shall be made at
the treasury Of the United States to the holders of
the said notes respectively, upon presentment, and
shall include the principal of each note and the
interest which may be due thereon at the time of
payment For this reimbursement, at the time and
times herein specified the faith of the U. States
is hereby soemnIy pledged.
SIC g 4,l1 he II |IIyfbS,. et11rfpH That the
said treasury notes shall he prepared under the d.
Tsciion of the Secretary of the Treasury and shall
be signed on behalf Of the United States, by the
Treasurer thereof, and Countersigned by the Re-
glster of the Treasury and that those officers
spectlvely shall, checks upon each other and to
secure the public safety, keep separate, full, and
accurate accounts of the number, date denomina-
ton, and amount, OF all the notes signed and
countersig ned by them respectively, which said
account shall be entered in a book hooks, to be
provided for that purpose and carefully preserved
IN the Treasury Department; and also similar &C.
counts, kept and preserved in the manner,
Of all the said notes redeemed, as the shall
be returned and canceIIed and the Treasurer shall
further account quarterly, for all such notes de
Ivered to him for signature or issue by the Regis
ter. Tho Treasurer and Register of the Treasury
are hereby authorized by and with the consent and
appreciation Of the Secretary of the Treasury. to
employ such additional temporary clerks as the
duties enjoined upon them by this act may render
necessary: Provided, Said number shall not ex-
coed five, and with salary of not more than at
the rate of twelve hundred dollars to each per
nun.
SEC. 4. And be it further enacted, That the
Secretary of the TreaSury is hereby authorized,
with the appreciation Of the President of the Uni
ted States, to cause to be issued such portion Of
the said treasury notes as the President may think
exPcdlcnt in payment of debts due by the United
States, to such public creditors or other persons
IS may choose to receive such notes in payment,
aforesaid at par. And the Secretary of the
Treasury is further authorized. with the approba-
ton of the President of the United States. 10 bor-
row from time to time such sums the President
may think expeiicnt on the credit of such notes {:
Prorided, ho,cerer, That no treasury notes shall
be pledged, hypothetical, Sold disposed of in
anywise, for any purpose whatever, directly or in
directly, for any sum less than the amount OF such
notes including the principal and interest thereon
~6sn disposed Of
SEC. ;. And be it further enacted, That the
sad treasury notes shall be transferable, by deiVe
~ and assignment endorsed thereon. by the per-
son to whose order the same shall on the face
thereof have been made payable
SIC. 6. And be 1t farther enacted, That the
said treasury notes shall be received in payment Of
all duties and taxes laid By the authority of the u
otates of all public lands sold by the said authority
and of all debts To the United States of anv char.
acter whatsoever. which may be due and psvahle
a. the time when said treasury note. may Re 80 of