Arkansas true Democrat., 1858-08-25
BY AUTHORITY.

1 LAWS OF THE UNITED STATES. 1 AN ACT to authorize the issue of Treasury Notes.
 Be 1t enacted, etc.. That the President of the Uni ted StiteI> hereby auth rzed treasury note for such sum or sums the eXireucies of the public service may require, but not to exceed at any time the amount of twenty millions of dollars, and of de- nominations not less than hundred dollars for any such note. to be prepared. signed and is uetl | m the manner hereinafter provided.
 2 l. hat such treasury notes shall be paid andre deemed by the United States the treasury thereof alter the expiration of one year from the dates of said notes, rom which dates until they Shall be rcspec- lively paid and redeemed they shall bear such rate of interest as shall be expre>-e in said notes wh h rate oi Interest upon the first i~suc wh shall not exceed S6ooooOo of such hote> shall be hNed by the Secretary of the Treasury with the approbation of the President but shall m no eae excect the rate "f >lX per centum per annun. The residue shall be issued m whole or in part, after public advertise heit or not less than thirty days, the Secretary of the reasury may direct. by exchanging them at their par value for specie 10 the bidder or bidders who shall agree to make such exchange at the lowest rate of interest not exceeding six per ccnum. upon the said notes Protded That after the maturity of any Of sad notes interest thereon sh Ill the expiration of sixty days notice of readiness to pay | and redeem the same, which may at any time or times be given by the Secretary of the Treasury in one or more newspapers published at the seat of go | Yernment The payment redemption of said notes herein provided shall be made to the lawful holders thereof, respectively. upon presentment at the treasury. and shall include the principal of each note and the interest which shall be due thereon And for such payment and redemption. at the time or times herein specified. the faith of the United | States Is hereby solemnly pledged.
 3. That such treasury notes 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 thereof, and countersgn by the gister of the treasury Each of these officers shall keep in a book books provided for that purpose separate, full, and accurate accounts. showing the number date, amount. and rate of interest of each | tp danl UtpI bV ham spectisely and aso similar accounts showing all such notes may be paid redeemed, and cancelled ss the may be returned, all which accounts shall be carefully preserved in the treasury depart ment And the treasurer shall account quarterly for all such treasury notes shall have been counter signed by the register and delivered to the treasurer for issue
 1. That the Secretary of the Treasury is hereby authorized with the appreciation of the President, to cause such portion of said treasury note, may be deemed expedient to be issued by the treasurer in payment of warrants in favor of public creditors, or other persons lawfully entitled tp such payment. who who may choose to receive such notes in payment at par And the Secy of the Treasury is further auhor zed,wih the appreciation ofthe President to borrow, from time to time such sums of money npon the dit of snch notes as the President may deem eXpedicnt: Pr"rMed That treasury notes shall be pledged, hypothecated, sold, or disposed Of in any way for any purpose whatever either directly or indirectly. for any sum less than the amount of such notes in cludlng the principal and interest thereof
 
 by assignment indorsed thereon by the person to whose order the same shall be made payable accom- panied together with the delivery of the notes so as- signed.
 G. That said treasury notes shal Lbe received by the proper officers in payment of all dnties and taxes laid by the authority of he United States of all public lands sold by said authority and all debts the U & ofa any character whatever which may be due and pay able at the time when said treasury may be offer ed in payment thereof and upon every sneh payment credit shall be given for the amount of principal and interest due the note or notes received in payment on the day when the same shall have been received | by such officer.
 | s7 That every collector of the customs. receiver | of public moneys or other officer agent of the United States who shall receive any treasury note or notes in payment account of the United States shall take from the holder of such note or notes n receipt upon the back of each stating distinctly the date of such payment and the amount allowed upon such note: and every such officer or agent shall keep regular and specific entries of all treasury notes re- ceived in payment showing the person from whom received the number date and amount of principal and interest allowed each and every treasury note received in payment which entries shall be delivered to the treasury with the treasury note or notes men
 toned therein, and, if fo nd correct such officer or agent shall receive credit for thenmount Us provided | in the last section of this act
 $ S. That the Secretary of the Treasury be and he hereby is authorized to make and issue from time to time such instructions. rules and regulations to the several collectors. receivers. depositaries and all others who may be required to receive such treasury notes in behalf of and agents in any capacity for the United States, the custody disposal cancel ling and return of any such notes may be paid to ar received by them, respectively, and to the counts and returns to be made to the treasury de- part of such receipts he shall deem best cal culated to promote the public convenience and rity and to protect ihe United States well in- | divdiuals from fraud and loss.
 9. That the Secretary of the Treasury be and he hereby is authorized and directed to cause to be paid the principal and interest of such treasury notes may be ssned under this act at the time and times when according tp its provisions the same should paid. And the said Secretary is further authorized to purchase said notes at par for the amount of principal and interest due at the time o the purchase on such notes. And so much of any unappropriated money in the treasury may be ne- of be an p ssd
 10. That in place of such treasury notes as may have been paid and redeemed other treasury note to the same amount may be issued: Pr9udad, Tha