Arkansas intelligencer., 1858-08-13

! AN ACT to authorize the issue of treasure
notes.
Be 1t enacted by-thc' Senaie a24d House Q,
Representatives OF tic United States of Ame
rica IN Congress assembled, That the Prcsi-
! dent of the United States IS hereby authori
zed to cause treasury notes for such sum or
sums as the exigenc..'s of the public service
may require, but moi to exceed, at any time
/, the amount Of twenty millions of dollars, and
of denominations not less than one huRdred
dollars for any such note, to be prepared,
signed, and issued in the manner hereinafter
| provided.
Sec 2. .And be Il Jarsher enacted, That
such treasury notes shall Dc pad aud radeem-
| ed by the United States al tna tre..oU... there
of after the expiration OF one year from the
| dates OF said notes, from winch Jates, until
they shall be respectively pa. ..u .edeemed,
| they shall bear such rate Of interest shall
| be expressed III said notes, which rate Of in
| terest upon the first issue, which shall not
exceed six millions OF dollars of such notes
shall be fixed by the Secretary OF the Ireasu-
ry, with the appreciation of the President,
| but shall in no case exceed tho rate of six per
csntum per annum. The residue shall be
issued in whole or in part, after public adver-
/
| Secretary Of the Treasury may direct by ex-
changing them at their par value for specie
! To the bidder or bidders who shall agree to
make such exchange at the lowest rate of in.
! terest, not exceeding SIX per centum, upon
! tho said notes: Pro- laed, That after tho ma
/ tCnty OF any Of sa.l notes, interest thereon
saaI. cease at t.e 5~P.E.,,loa ut * lays uytCs
/ q READINGS. u pay and re~esu .ne sa,1e,
I ~ 1
the Secretary OF the Treasury IN one or more
newspapers published al the seat of govern
ment. The payment or redemption of said
notes herein provided shall be made to the
lawful holders thereof, respectively, upon pre-
sentiment at the treasury, and shall include
the principal OF each note and the interest
which shall be due thereon. And for such
payment aud redemption, at the time or times
herein specified, the faith OF the United States
is hereby solemnly pledged.
| Sec. ,. Ind be 1t further eaactcd, That
| such treasury notes shall be prepared under
the direction OF the Secretary Of the Treasury,
and shall be signed in behalf of the United
States by the treasury thereof, and counter
signed by the reg:sser of the treasury. Eacl,
OF these officers shall keepin book or books
provided for that purpose separate, full, and
! accurate accounts, showing the number, date,
amount, and rate Of interest of each treasury
note signed and couutcrsi igued by them, re-
spectiYey; and also, similar accounts showing
! all such notes as may be paid, redeemed and
cancelled as the same may be returned, All
which accounts shall be carefully preserved
in the Ireasur Department. And the treas
urer shall account quarterly for all such treas
| ury notes as shall have been countersigncd
by the register and delivered to the treasurer
for issue,
Sec. 4. Ald Ls Il JurtAer c,acted, That
the Secretary OF ths Treasury is hereby au
thoszed with the appreciation OF the Presi-
dent, 10 cause such portion OF said treasury
notes as may be deemed expedent to be is
sued by the treasurer in payment Of warrants
in favor of public cieditors, or other persons
lawfully entitled to such payment, who may
| choose TO receive such notes in payment at
par. And the Secretary Of the treasury is
further authorized, with the apprcb baton of
the President, to borrow, from time to TIM,
such sums OF mouel upon Il, eroa aJch
notes as the President may l>em e. se ..iaut:
| Iroctdef, That 80 treasury notes sail DC
pledged, hypotheeated, sold OF disposed Of in
any way, Tor any purpose whatey,, either
directly or indirectly, for any sam lsas than
the amount OF such notes, including the prin-
| cipal and interest thereof.
| Sec 5. And be AZ turther enacted, That
said treasury notes shall be transferable, by
assignment endorsed thereon by the person
to whose order the same shall be made paya-
| tls, accompanied together with the delivery
of the notes SO assigned.
Sec. 6. Aad be At farther 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
States, of all public lands sold BY said auIho
/ ritv, and OF all debts to tAs OnitoI states Of
( any character whaterer which may be due
/ ana parable al the timo when said treasury
r~tes may be offered h Payment thereof, and
up0r aEesy such pay sllent credit shall b. aig-
Ell for the srsoaht " prncpal and interest
due on the note OF notes r4ceiyed IL payment
on the day when the sarle shall have been
received by such officer.
Sec. 7. And be IL Jiurther enacted. That
every collector Of the customs, receiver of
public moneys, or other officer Of the United
States who shall receive any treasury note or
notes in payment on account OF the United
States, shall take from the holder such note
or notes a receipt, upon the back OF each,
stating distinctly the date of such paymen,
and the amount allowed upon such note; and
every such officer or agent shall keep regular
and specific entries of all treasury notes re-
ceNed in payment showing the person from
whom received, the number, date, and amount
ofprincipal and interest allowed on 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 found correct, such
officer or agent shall receive credit for the
amount, as provided in the last section Of this
act. @ eta
I Sec. s. 4nd be it farfle,. enacted, That
the Secretary Of the Treasury be and he is
hereby authorized to make and issue, from
time to time, such instructions, rules, and