The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1858-03-03
BK AUrmon1rv
LAW OF the UNITED STATES.

tGCo ~ tC z CftStt tCCttCcl q
america IN Congress assembled, That TIL
President Of the United States is hereb,
authorized to cause treasury notes 70
such rum or sums assthe ~exigencies Of tn
public service may require, but not to ex
coed, at any time, the amount of twenty
millions of dollars, and of Denomination
notices. than one hundred dollars for aul
such note, to be prepared, signed, and is
sue in the manner hereinafter provided
SECTION 2. And be At further enacted
That such treasury notes shall be pait
and redeemed BY the United States at III,
treasury thereof after the expiration o
one year from the dates ofsaid notes, from
which dates, until they shall be respective
ly paid and redeemed, they shall beal
such rate of interest as shall be expressed
in said notes, which rate of interest upor
the first issue, which shall not exceed six
millions of dollars of such notes shall be
fixed by the Secretary of the Treasury,
with the appreciation of the President
but shalt no case exceed the rate of six
per ce1tun1 per onnuns. The residue
shall be issued in whole or in part, after
public advertisements pinot less than thir:
ty days, as the Secretary of the Treasury
may direct, by exchanging them at their
par value for specie to bidder or bid
ders who shall agree to make such ex
change at the lowest rate of interest, not
exceeding six per eentum. upon tho said
notes: Provided, That after the maturi-
ty of any of said notes, interest thereon
shall cease at the expiration of sixty days
notice of readiness to paysand redeem the
same, which may at any time or times be
L. H. Ca0~ofor1 of the HfraaG1ru
in one or more sswspapers published at
the seat of government. The payment or
redemption of said notes herein provided
shall be made to the lawful holders there
of, respectively. upon presentment at the
treasury, and shall include the principal
of zach note aud the interest which shall
be due thereon. And for such payment
aud redemption at the time or times here
in specified, the faith of the United States
is hereby solemnly pledged
SECTION, Sind be 1t further enacted,
That such treasury shall be prepared un-
der the direction of the secretary of the
Treasury, and shall be signed in behalf of
the United States by the Treasurer there
Of, and countersigned by the Register of
the Treasury. Each of these officers
shall keep 10 a book or books provided for
that purpose seperate, full, and accurate
accounts, showing that the number, date,
amount and rate of interest of each treas
ury note signed aud countersignea by
them, respectively and also similar ac-
counts showing all such notes as may be
paid, redeemed, and cancelled as the same
may be returned, all which accounts shall
shall be carefully preserved in the Treas
.ry Department. And the Treasurer
shall account quarterly for all such treas
ury notes as shall have been counter
By the Register and delivered to
the Treasurer, for issue.
SECTION 4And be atJurther enacteds
That the Secretary of the Treasury is
authorized, with the appreciation
the President, to cause, such portion of
,aid Treasury notes as may be deemed
,xpedient to be issued by the Treasurer
payment of warrants in favor of public
,rediters, or other persons lawfully enti-
led to such layment, who may choose to
.eceiVe such notes in payment at par
And the Secretary of the Treasury is fur
her authorized, with the appreciation of
he President, to borrow, from timsTto
Ssne. such sumssof money upon tho credit
olsuch notes as the President may deem
exhdient: Provided, That no treasury
noteSshalI be pledged, hypothecated, Sold,
diposed of in any way, for any purpose
Uhateser, ether derectly or Indirectly,
for anySsum less than the amount of such
notes, iDeluding the principal and interest
thereoE
msecTIosss And BE- &c further snacted
ihat saIdSF4sshsH be trans
byAssignment enaersed thereon
~ ~ -lfannE f0 -bo.o
hall b made payable, accomna--rTo
withathe deIiyerl1>ne note SO
ssigned.
sEcrIoN s. Ind Be at further enacted,
hat said treasury notes shall be resolved
y the proper officers in payment of all
uties and taxes laid by the authority of
he United States, of all public lands
bid by said authority, and of all debts
!, the United States of any character
hatever, which may be due and payable
: the time when said treasury notes may Z
3 offered in payment thereof; aud upon
1eryssuch payment credit shall be given
r the amour of principal and interest
ne on the note or notes received in pay.
ent on the day when the same shall have
sen received by such officer. !
SECTION 4. And be 1t further enacted,
every collector of the custom, recei- {
II of public moneys, or other officer or ]
,ent of the United States who shall re-
any treasury note or notes in pay '
on account of the United States, I
all take from the holder of such note t
notes a receipt, upon the back of each, {
ring distinctly the date of such pay
lent and the amount allowed upon such
tie and every such officer or agent
all keep regular and specific entries of s
Treasury notes received in payment,
the person from whom received, t
e number, date, and amount of prinei-
i and interest allowed on each and every
sasury note received in payment; which Z
tries shall be delivered to the treasury
til the treasury note or notes mentioned d
erein, and, il correct, such officer and
emit shall receive credit for the amount, b
provided In the last section of this act
find be ii further enacted, g
lat the Secretary of the Treasury be,
d he hereby is, authorized to make and q
ue, from time to time, such instructions,
lee and reou1atfons 70 the several col. Fl