Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1848-04-13
JAMES X. POLK.
fPUBLIc-No. GAL

[PuBLIc-No. 22l
AN ACT authorize exceed the OF sixteen mil
Be enacted by the Senate and House Of Representatives.
the Uaited States Of america in Congress assembled That
the President Of the United States shall be- and he hereby
authorized any time within from the passage
this act TO borrow the credit Of the United States sum
exceeding sixteen millions OF dollars much thereof
in his opinion exgencies Of the government may
quie at of interest exceeding six centum
annum payable quarterly semannuay, which loan shall
be made reimburabe at any time after twenty from
the first day Of July after the passage of this act and
said money, borrowed shall being first duly appTopria-
ted therefor be applied in addition to the money in the
treasury, which may be received therein from other
uces TO deiay any oil the public expenses which nave
been heretofore may be hereafter authorized by law and
the stock issued upon such loans shall be transferable on the
books of the treasury.
the Treasury be- and he hereby authorized with the
sent Of the President of the United States TO to be
pared certificates oil Stock which shall be signed the Re
ger Of the Treasury and sealed with the seal Of the Iea-
Department. or the sum 10 be borrowed as aforesaid OF
any part thereof bearing interest not to exceed six pei
centum per annum and transferable and reimbursable
aforesaid and said certificates of stock to be sold
Provided That part of said stock be sold below par
And prOrded also That whenever required so to d. the
Secretary of the Treasury shall be attached TO
certificate certificates 10 be issued under this act coupons
OF interest; and any certificate having such oil
interest attached to IT, may be transferable by delivery oil
the certificate instead Of being assgnabe the books OF the
treasury; but certificate of stock shall be issued Tor less
amount than fifty dollars.
SEC g. And be ii further enacted That Secretary OF
the Treasury he is hereby authorized to receive pro-
posa for the taking of such oan part or parts there
and that before dposng of the said stock issued for such
oan the Secretary Of The Treasury shall 10 be insert
ed in two public newspapers printed in the city OF
Washington and in two public newspapers printed IN
the principal city capital Of each State an advertisement
stating that bids and proposals for such loan will be received
until certain day. be specified in such advertisement moi
than sixty days less than twenty days from the time
of of said advertisement in two
newspapers the city Of Washington, and stating the amount
of the loan required and in what Instruments and when and
where will be required to be paid And all such proPo
ais shall be required 10 be sealed aud 'ha De opened oy
the Secretary other officer OF the department. on The day
appointed publicly and the presence Of such persons as
choose attend and proposal shall be withdrawn
after the shall have been received at the Treasury De-
partmen and the said Secretary such
may be necessarily incurred in printing and issuing certh
of stocks Provided horeUer That the employment Of
agents. expenses incident 10 the execution Of this
shall in all exceed the Of sixteen thousand dol
lars; which Of sixteen thousand dollars hereby appro
pated for these purposes and shall be paid out Of any
the treasury otherwise appropriated: ana pToutded
That eompensa ton shall be allowed TO any officer whose
salary Fixed by law, for any service performed by hun
the execution of this act.
United States hereby pledged to provide and establish su
cent for the regular payment oil the interest," and
for the redemption Of said stock And the PRINCIPAL sun
borrowed under the provisions of this act and the nteres
thereon SHALL from time to lime become due
payable shall be paid out Of any money the treasury
otherwise appropriated.
SEC s. And be IL further enacted That Secretary
the Treasury be- and is hereby authorized to purchase
any before period herein limited for the redemption
OF the stock hereby created such portion thereof al the
ket price not below par the funds Of the
admit Of after meeting all the demands the treasury
surplus that hereafter be in the Treasury hereby
appropriated to that object.
SEC g. Aad be it further enacted That il shall be th,
duty Of the Secretary OF the Treasury report to Congress
at the commencement Of the next session. the amount
borrowed under this act, and OF whom and wha
shall have been obtained, with abstract bre
statement Of all the proposals submitted for the same dis
tngushng between those accepted and those rejected will
detailed statement OF the expense OF making such loans
| APPROVED March 81, 1913.