The North-Carolina standard., 1847-03-03
RupL1c-No. Al

resentotfoes or the United States of America IN
Congress assembled, That the President of the
United States is hereby authorized to cause treasu
nv notes. for such sum or sums as the exigencies
Of the government may require, but not exceeding,
in the whole amount of notes issued, the sum ol
twenty three millions of dollars, and Of denomina-
tions not less than fifty dollars for any one note
to be prepared, signed, and issued, in the manner
hereinafter provided.
Src 9 And be IL further enacted That the
said treasury notes authorized TO be issued by the
first section of this act shall be reimbursed and
redeemed by the United States, at the treasury
thereof after the expiration of one year or two
wears from the dates of the said notes respectively
from which said dates they shall bear such in
terest. until they shall be respectively redeemed
as shall be expressed upon the face of the said
notes: which rate Of interest upon each several
issue of the said notes shall be fixed by the Secre
tarv of the Treasury, by and with the advice and
appreciation of the President; bu: shall in no case
exceed the rate of interest of six per ccntum per
annum: PROVIDED, That after the maturity OF any
of said notes. such interest shall cease at the expi-
ration of sixty days notice. to be given at any
time by the Secretary of The Treasury. IN one or
more of the principal papers published at the seat
of government, of IL readiness to redeem the same.
The reimbursement herein provided for shall be
made at the treasury of the United States to the
holders ofthe said notes respectively upon present
ment, 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
United States is hereby soIemnIy pledged.
. SEC s. And be ii further enacted, That the
said treasury notes shall be prepared under the
direction of the Secretary of the Treasury, and
shall be signed, on behalf of the United States, by
the Treasurer thereof and countersgned by the
Register of the Treasury; and that those officers
respectively shall, as checks upon each other. and
e. n DnhIie keen SenaTaie full and
accurate accounts OF the number date, denomina-
tion and amount, of all the notes signedand coun
tersigned by them respectively, which said ac-
count shall be entered in q book books, to be !
provided for that purpose and carefully preserved
In the Treasury Department; and also similar ac
oonnts kept and preserved in the same manner,
of all the said notes redeemed. the same shall be
returned and cancelled and :he Treasurershall
further account, quarterly, for ali such notes de-
lvered to him for signature orissun by the Regis
ter The Treasurer and Register ofthc 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 eBjoined upon them by this act may !
render necessary: Prorided, Said number shall !
not exceed FIVE, and with salary of not more |
than OF the rate of twelve hundred dollars to each
per annum.
SEC A. And be IL 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 !
Gxpedicnt in payment of debts due by the United !
States, to such public creditors, or other persons,
as may choose to receive such notes in payment
as aforesaid, at par And the Secretary of the :
Treasury is further authorized, with the approba-
tion of the President of the United States to bor-
row from time to time such sums as the President
may think expedient, on the credit of such notes
Prorided. ho:cever, That treasury notes shall
be pledged, hypothecated sold or disposed of in |
anywise for any purpose whatever, directly or in
directly, for any sum less than the amount of such
Rotes, including the principal and interest thereon,
when disposed Of
SEC S. And be It further enacted, That the
said treasury notes shall be transferable by delive
~ and assignment endorsed thereon, by the per-
son to whose order the same shall on the face
thereof have been made payable.
o. SEC. 6. And be IT further enacted, That the
said treasury notes shall be received in payment
Of all duties and taxes laid by the authority of the
United Staies of all public lands sold blythe said
authority, and of all debts to the United States of
any character whatsoever, which may be due and
payable at the time when snid treasury notes may
be so offered in payment: and on every such paw
rnent credit shall be given for the amount of the
principal and interest which on the day of such
payment, may be due on the note or notes thus
given in payment.
- SEC. Z. And De II fuTtbeT enacted, That every
collector, receiver Of public moneys, or other t
officer agent fthe United States, shall, on the
receipt of any treasury notes in payment for the |
government take from the hoIderslhereofa receipt
on the back of each ofsaid notes. stating distinctly
the date and the amount received and shall keep,
according to such form as shall be prescribed by /
the Secretary of the Treasury, entries of whom
received; the number, date and respective amounts |
Of principal and interest of each and everv reasu-
~ note thus received and on delivering the same
to the Treasury, shall receive credit for the
amount paid prescribed in the last seetlon pro.
vided no error shall appear.
SEc. 8. And be- II further enacted, That the |
Secretary of the Treasury be, and he is hereby. |
authorized and directed to cause to be reimbursed
and paid the principal and interest of the TREASURY
notes which may be issued by virtue of this act.
at the several time and times when the same ac
eordng to the provisions of this act, should be
thus reimbursed and paid. And the said Secreta-
ry is further authorized to make purchases of the
said notes at par for the amount of the principal
and interest due at the time of purchase on such
notes. And so much of unappropriated money in |
the treasury as may be necessary for that pur6ose
is hereby appropriated for paving the princinaI
and interest of said notes
Sec. 9. And be II further enacted, That if anv
person shall falsely make, forge, or counterfeit
or cause procureto be falsely made, forged. or
sounterfeted or willingly aid or assist in falsely
making, forging, or counterfeiting, any note in i'm
itationsof or purpoting to be, treasury note
aforesaid, ,or shall falsely alter or cause or r,ro
cure be falsely altered or willingly aid or assist
in falsely altering, any treasury note issued as
aforesaid, shall pass inter- publish or atternot