The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-04-05

SEQ g. And b. IL further enacted That the Secretary
cfthe Treasury and he hereby with the
consent of PRESIDENT Of United States to be
prepared certificates which shall be signed BY the
Register of the Treasury and sealed with the seal Of the
Aforesaid or any part thereof bearing an interest
aforesaid and to said certificate OF stock TO Do
sod Provided That no par. Of said stock be sold Dc
to do the Secretary Of the Treasury shall cause to DO
attached any certificate certificates to DO issued
under this act Of interest and any certificate
having such coupons interest attached to It, may be
transferable by delivery Of the sertineate instead of
being sssignsble on the books Of the treasury but
cer6cate Of stock shall be issued for less
Sec And DO It further enacted That the Secretary
of the Treasury and he is hereby authorised to
oeive proposals for the taking such oan any part
parts thereof and that before dsposng of the said
issued for such loan the Secretary of the Treasu
~ shall TO be inserted ia public
papers printed in the city of Washington and In
Of N s
and proposals for such loan will be received until
tain dsy to be specified In such advertisement not
than sixty days or less than twenty days from the tins
Of the first insertion of said advertisement in two
newspapers in the city Of Washington and stating the
of the loan required and in what instaments
aad when and where it will be required to be paid.
Aud all such proposals shall be required to DO seal
ed and shall be opened by the Secretary or other ON
of the department, the day appointed publicly,
and In the presence of such choose to
end and proposal shall be withdrawn after the sam
and the said Secretary pay such be
necessarily incurred In printing and issuing certificates
OF stock Provided however, That the employment Oh
agents. and other incident to the execution OF
this shall in ell exceed the OF sixteen thou
sand dollars which of sixteen thousand dollars Is
hereby appropriated for these purposes aad shall be
paid any money the treasury not otherwise
proprated And provided, That compensation shall
be allowed to any officer whose salary is fixed by law.
for any service performed by him in the execution OF
this act.
Sec l. And be it further enacted, That the faith Of
the United States hereby pledged provide and estab
lsh sufficient for the regular payment Of the
interest and the redemption Of said STOCK And tho
principal borrowed under the provisions of this
act and the interest thereon - the same shall from time
to time become due and payable shall be paid of any
money in the treasury not otherwise appropriated.
Sec And be 1t further enacted, That the Secretary
Of the Treasury and he Ii hereby authorized to
chase any time before the period herein limited for
the redemption Of tho stock hereby created such por
ton thereof at the market price not below par as the
funds Of the may admit of, after meeting
all the demands the treasury; and any surplus that
hereafter be In the treasury hereby appropriated
to that object.
Sec And be it further enacted That it shall be the
duty Of the Secretary of the Treasury to report Con-
grees, at the Of the next session. the
amount of money borrowed under this sct Of whom
and on what terms it shall have been obtained with an
abstract brief statement Of all the proposals submitted
for the distinguishing between those accepted and
those rejected with detailed statement Of the expense
m liking such lOang