The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1858-06-18

vessel the postage only the malls conveyed .
Provided that the preference shall always be given to
American foreign steamship when departing from
the pOIt for the same destination within three
days of each other.
Approved IA june 1863 ~aaaau89e te egl
a3 Pub - 90. oapia
AN ACT to authorize loan not exceeding the sum of
FF twenty millions of dollars
BE enae ed Jy the Sea7's and House Of Representatives. Of The
Ued &as Of Amyica Congress assembled That the Pres
dent of the United States be- and hereby IS authorized
ut any time within twelve months fom the passage OF
this act to borrow the credit of the United Sates
exceeding twenty milliors of much
thereof as in his Opiron the exigences of the public
service may requires to be applied to the payment of a
proplMtons made by Law, in addition to the money
ceyed or which may be received into the from
other sources Popied That stipulation contract
shall be made to prevent the United States from rem-
bursting any borrowed under the authority of this act
at any time after the expiration of fifteen years from the
first day of January next 's'i ts g'it ' es
Src g. And be Il further e.aesd That stock shall be
issued for the amount borrowed bearing interest not
exceeding five per centum per annum, payable seTian-
nually with coupos for the interest attached
the certificates of stock thus created and the Secretary
Of the Treasury be, and hereby is authorized with the
consent of the President certificates Of stock to
be prepared which shall be signed by the Register and
sealed with the seal of the Treasury Department. for the
amount borrowed in favor of the parties lending the
same or their assigns preca that certificate shall
be issued for less sum than one thousand dollars.
SEc 3. And Be il further enaoed 1nat before awarding
said loa the Secretary Of the Treasury shall to be
inserted in Of the public newspapers of the city of
Washington, and In or more public newspapers in
other cities of tho United States public notice that sealed
proposals for such loan will be received until certain day
to be specified in such notice. not less than thirty days
from its first insertion in Washington newspaper and
such notice shall state the amount Of the loan at what
periods the money shall be paid If by nsalments and
what places. Such scaled proposals shall be opened
on the day appointed in the notice, in tho presence of
such persons may choose to attend and the proposals
decided on by the Secretary Of the Treasury who shall
accept the most favorable proposals offered by responsible
bidders for said stock And the said Secretary shall
port Congress at the commencement Of the next
sion the amount or money borrowed under this act and
of whom and what terms, it shall have been obtain
cd with an abstract brief statement of all the pro-
poss submitted for the same distinguishing between
those accepted and those rejected with detailed state
ment of the expense of making such loans PrOvdei,
That no stock shall be disposed Of at less than its par
value. a @3fi ettFtlstats tsft -'f p "a
SIC, A. And be atuhey enacted That the faith of the
United States is hereby pledged for the due payment of
the interest and the redemption of the principal Of said
stock it ssfaii = 3&f8ast1d
SEC. 5. And bs further snac'd That, to defay the ex
pense of engraving and printing certificates of such stock
and other expenses incident to the execution of this act
the sum of five thousand dollars is hereby appropriated
Provided That compensation shall be allowed for any
service performed under this act to any officer whose
salary is established by law.
Approved IA June 1858