Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1848-05-03
Public Laws of the United States
BY AUTHORITY.
.acts and Resolutions passed at the First
Session Of the Thirtieth Congress.
TPnBLrc-No. 22.1

PnBLrc-No. %.
AN ACT to authorize a loan not to exceed tn
sum of sixteen millions Of dollars.
Be it enacted by the Senate and House, O
Representatives Of the Untet States of Amerc;
in Congress assembled, That the President o
the United States be, ard he is hereby author
lied, at any time within one year from the pass
age OF this act, to Dor ow on the credit of ,ht
United States a sum not exceeding sixteen mill
ions Of dollars, or SO much thereof as in hi.
opinion the exigencies of the government ma,
require at the rate OF interest not exceeding 81,
per ceatuln per annum, payable quarterly OF
semi annually, which loan shall be male REIN.
bursab!e at any time after twenty years on
the first day o! July next after the passage o.
this act; and said money, so borrowei shall, or
being first duly appropriated therefor, he arpli-
ed IN addition to the money now in the treasu.
sury, or which may be received therein from
other sources, to defray anv Of the public expen.
ses which have been heretofore. or nav be here.
after authorized by law, and the stock ISSUED
upon such loans shall be transferable on the
books Of the treasury.
SEC. 2. And be it further enacted, That tbs
Secretary Of the Treasury be, and he is hereb,
authorized, with the consent of the President Of
the United States, to cause to be prepared certif
icates OF stock, which shall be signed By the
REGISTER OF the Treasury, and sealed with the
sea- oil the Treasury Department, for the sum IL
De borrowed as Aforesaid, or any part thereof
bearing an interest not 10 exceed six rer ceutuH
per annum, and transferable and reimbu, sable 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, Tha,
whenever required so to do, the Secretary of the
treasury shall cause to be attached to anv Ger.
tihcate or certificates TO be issued under this act
coupons OF interest; and any certificates having
such coupons of interest attached to if, may BE-
Transferable by delivery Of the certificate instead
ci being assignable on the books Of the treasu-
~; but no certificate ct stock shall be issued for
less amount than fifty dollars.
SEC. 3. And be it further enacted, That the
Secretary OF the Treasury be. and he is hereby
authorized to receive proposals for the taking oil
snch loan, orsdny part or parts thereof: and thai
before disposing of the said stock issued for
such loan the Secretary OF the Treasury shall
cause to be inserted in one or two public news
papers printed in the city of Washington, and
IN one or two puLhc newspapers printed in the
principal city or capital OF each >tate, an adj
yertisement stating that bids and proposals for
such loan will be received until a certain day
10 be specified 10 such advertisement. not more
than sixty days or less than twenty days sfrom
the time of the first insertion OF said advertise
ment in one or two newspapers in the city oil
Washington and stating the amount Of the loan
required, and in what instaIments, and when
and where it will be required to be paid. Ard
all such proposals shall be requiredto be sealed,
and shall be opened by the Secretary, or other
officer Of the department, on the day appointed.
publicly, and inthe presence of such persons
az may choose to attend; and no proposal shall
be Withdrawn after the same shall have been re-
ceiyed at the Treasury Department; and the
said Secretary may pay such expenses as may
be necessarily incurred in printing ard issuing
certificates Of stock: Provided. however, That
the employment Of agents, and other expenses
incident t0the execution Of this act, shall moi
in all exceed the sum Of sixteen thousand dol
lars; 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 And provided
That 20 compensation shall be allowed to any