The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1848-02-26

and he is hereby authorized, with the
consent Of the President Of the United
States, to cause to be prepared certifi-
Gates Of stock which shall be signed by
the Register Of the Treasury, and seal
ed with the seal Of the Treasury De.
partment, for the SUN TO be borrowed
as aforesaid, or any part thereof, bear.
ing an interest not to exceed six per
centum per annum, and transferable
and reimbursable as aforesaid, and TO
cause said certificates Of stock to be
sold: Provided, That no part of said
stock be sold below par: And provided
also, That whenever required 80 to do,
the Secretary Of the Treasury shall
cause to be attached to any certificate
or certificates 10 be issued under this
act coupons Of interest; and any certif-
icate having such coupons of interest
attached to it may be transferable by
delivery of the certificate instead Of be-
ing assignable on the books Of The Trea.
sury, but no certificate Of stock shall be
issued for a less amount than fifty dol.
lars. v. ,..a.Ia aaT .,.rrtf a..
Sec. 8. And BE- IL further cnacted,--
That the Secretary Of the Treasury be
and is hereby authorized to receive pro-
posals for the taking Of such loan or
any part or parts thereof; and that be-
fore disposing Of said stock issued for
such loan, the Secretary of the Treas
ury shall cause TO be inserted in two
public newspapers printed in the city
Of Washington, and not exceeding two
public newspapers printed in the prin-
cipal city or capital Of zach State, an
advertisement stating that bids and pro.
posals for such loan will be received
until a certain day, to be specified in
such advertisement, not more than six.
ty days or less than twenty days from
the time Of the first insertion of said ad.
vertisement in the two newspapers in
the city Of Washington, and stating the
amount Of the loan required, and in
what instalments, and when and where
it will be required to be paid; and the
said Secretary may pay such expenses
as may be necessarily incurred in print
ing and issuing certificates of stock,
the employment Of agents, and expens.
es incident 10 the execution ofthis act,
which shall not in ali exceed the sum
Of sixteen thousand dollars; which sum
of sixteen thousand dollars is hereby
appropriated for these purposes, and
shall be paid out of any money in the
Treasury not otherwise appropriated:
Provided, that no compensation shall
be allowed 10 any officer whose salary
is fixed by law for any service perform
ed by him in the execution of this act.
Sec. 4. And be ii further en~acted,-
That the faith of the United States is
pledged to provide and estab-
|ish sufficient revenues for the regular
payment of the interest and for the re-.
1emption Of said stock.
Sec. 5. And be IL further endcted,-
That the Secretary Of the Treasury be
and he is hereby authorized 10 purchase
at any time before the period herein
limited for the redemption Of The stock
created, such portion thereof at
the market price, not below par, as the
funds of the Government may admit Of.
after meeting all the demands on the
and any surplus that hereaf.
ter may be in the Treasury is hereby
appropriated to that object. .,. s..
Sec. 6. And be IL further enacted,-
That it shall be tho duty oftbe Secreta.
ny Of the Treasury 10 report to Con-
gress, at the commencement Of the next
session, the amount of money borrow.
ed under this act and Of whom, and on
what terms it shall have been obtained,
with an abstract or brief statement Of
the proposals submitted Tor the same,
distinguishing between those accepted
and those rejected, with a detailed
statement of the expenses OF making
such loan.
The bill was passed by yeas 1872,
nays IA, the latter Of which we give as
Messrs. Ashmun, Candy,
.rowelI, Fisher, Giddings, Hale, Hub.
BARD, Hudson, Daniel P. King, Palfrey,
julius Rockwell, Root, Foreman,
Wilson--I4.
@ T~nteIligence nv the Hihernia.