The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1857-12-25
BY AUTHORITY.
LAW OF THE UNITED STATES

ident the United states hereby authorized 10
treasury notes for such the exigeDcies OF
the public service may require but not TO exceed AT
time, the amount OF twenty millions of dollars and of
denominations not less than hundred dollars for any
such note to be prepared signed and issued in the
ner hereinafter provided.
SECTION O. And be further enacted, That such treasury
notes shall be paid and redeemed by the United States Of
the treasury thereof after the expiration OF year from
the dates Of said notes. from which dates until they shall
be respectively paid and redeemed they shall bear such
rate Of interest shall be expressed in said notes which
rate of interest upon the st issue, which shall not
coed six millions of dollars of such notes shall be fixed by
the Secretary of the Treasury with the appreciation of the
President but shall IN exceed the rate of six per
per The residue shall be issued In whole
In part after public advertisement of not less than thirty
days, the Secretary of the Treasury may direct by
changing them at their par value for specie 10 the bidder
bidders who shall agree to make such exchange nj the
lowest rate of interest not exceeding six per centu,
upon the said notes Pord That after the maturity of
any OF said notes. interest thereon shalt at the exp
ration of sixty days notice OF readiness to pay and
deem the same, which may at any time times be given
by the Secretary of the Treasury in newspa
pers published at the seat Of government The payment
redemption Of said notes herein provided shall be made
to the lawful holders thereof respectively upon present
at the treasury and shall include the principal OF
each interest which shall be due thereon
And for such payment and redemption at the time times
herein specified the faith of the United States hereby
solemnly pledged
SECTION g. And be further enacted That such treasury
notes shall be prepared under the direction Of the Seco
tary Of the Treasury and shall be signed in behalf Of the
United States by the Treasurer thereof and countersgcd
by the Register of the Treasury Each Of these officers
shall keep In book books provided for that purpose
separate full and accurate accounts showing the
ber date amount and rate of interest of each treasury
note signed and countersgned by them, respectively
and also similar accounts showing all such notes may
be paid redeemed and cancelled the may be
turned all which accounts shall be carefully preserved In
the Treasury Department And the Treasurer shall
count quarterly for all such treasury notes shall have
been countersgned by the Register and delivered to tho
Treasurer for issue
SECTION 4. And be further enacted That the Secretary
of the Treasury is hereby authorized with the approba
ton Of the President such portion of said Treas
uy notes may be deemed expedent be issued by the
Treasurer in payment of warrants In favor of public cred
TORS other persons lawfully entitled TO such payment
who choose to receive such notes in payment at par
And the Secretary of the Treasury is further authorized
with the appreciation Of the President 10 borrow from
time to time such of money upon the credit such
notes the President may deem expcdient Pyoptdod
That no treasury notes shall be pledged hypothetical
sod disposed of any way for any purpose whatever
either directly indirectly for any less than the
amount of such notes. including the principal and inter
est thereof. gauaa
SECTION 5. And be further enacted That said treasury
notes shall be transferable by assignment endorsed there
by the person to whose order the shall be made
payable accompanied together with the delivery of the
note assigned So ...a
SECTION 6. And be further enacted That said treasury
notes shall be received by the proper officers in payment
of all duties and taxes laid by the authority of the United
debts to the United States of any character whatever
which may be due and payable at the time when said
treasury notes be offered in payment thereof and
upon every such payment credit shall be given for the
amount of principal and interest due the note
received in payment the day when the shall have
been received by such officer.
SECTION L and be further enacted That every collector
of the customs receiver of public moneys other Off
agent of the United States who shall receive any
treasury note notes in payment account of the
United States shall take from the holder of such note
notes receipt upon the back of each, stating distinctly
the date of such payment and the amount allowed upon
such note and every such officer agent shall keep reg
uar and specific entries of all Treasury notes received in
payment showing the person from whom received the
number date, and amount of principal and interest al
lowed each and every treasury note received in pay
ment which entries shall be delivered to the treasury
with the treasury note notes mentioned therein and
II found correct such officer agent shall receive credit
for the amount provided in the last section Of this
act. AT %,
SECTION g. And further enacted That the Secretary Of
the Treasury be- and he hereby u.s. authorized make
and ISSUE from time to time, such instructions rules and
regulations to the several collectors receivers deposa-
ries and all others who be required to receive such
treasury notes in behalf Of and agents in any capacity
for the United States to the custody, disposal
ceiling and return of any such notes be paid to
and received by them, respectively, and to the
counts and returns to he made to the Treasury Depart
ment of such receipts he shall deem best calculated to
promote the public convenience and security and pro-
tect the United States well individuals from fraud
and loss 49,
SECTION g. And be further enacted That the Secretary
of the Treasury be- and he hereby u.s. authorized and d
rected to to be paid the principal and interest
such Treasury notes may he issued under this act at
the time and times when according its provisions the
should be paid And tho said Secretary Is further
authorized to purchase said notes at par for the
of principal and interest due the time purchase
such notes And much of any unappropriated mo-
ney in the treasury may be necessary for the purpose
hereby appropriated to the payment Of the principal
and interest of said notes
SECTION 10. lind be further enacted That in place of
such treasury notes may have been paid and redeemed
other treasury notes to the amount may be issued
Prodd That the aggregate outstanding, under the
authority of this act shall at time exceed twenty mil
lions of dollars And provided further That the power
issue and reissue Treasury notes. conferred the Presi
dent Of the United States by this act shall and
termine on the first day of January, 1859.
SECTION H. And be further enacted That TO deay the
expenses of engraving printing preparing and issuing
the treasury notes herein authorized the of twenty
thousand dollars hereby appropriated to be paid out of
That compensation shall be made to any officer whose
salary is fixed by law for preparing signing, Issuing
treasury notes
SECTION IL. And bet further enacted That any person
shall falsely make FORGE counterfeit cause or pro-
to be falsely made forged, countereited or will
lngly aid assist in falsely making forging or coun-
tereting, any note in imitation Of purporting TO be-
treasury note, issued aforesaid shall pass utter
or publish, or attempt to pass, utter publish or
any fse forged counteeitcd note purporting to be
treasury note aforesaid knowing the same to be
falsely made forged counterfcited, shall falsely
alter, procure to be falsely altered willing
ly aid assist in falsely altering any Treasury note
issued aforesaid, shall pass, UTTER publish or
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