Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1858-01-01

A Bill 10 authorize The Issue of Treasury Notes

sembed That the President of the United States is
hereby authorized to treasury notes for such sum
sums as the exgencies of the public service may
qure but not to exceed, at any time the amount OF
twenty millions of dollars and of denominations not less
than hundred thousand dollars for any such note to
be prepared signed and issued in the manner hereinafter
provided.
Section 9 And be it further enacted That such Urea
sury notes shall be paid and redeemed by the United
States at the Treasury thereof after the expiration OIL
one year from the dates of said notes. from which dates
until they have been respectively paid and redeemed
they shall bear such rate of interest shall be expressed
in said notes. which rate of interest upon 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 shall in no
exceed the rate of six per centum per annum The
residue shall be raised iii whole part after public adj
vertSement of not less than thirty days. the Secle
tay of the Treasury may direct by exchanging them at
their par value for specie to the bidder bidders who
shall agree to make such exchange at the lowest rate OF
interest, not exceeding six per cenum upon the said
notes. Provided That after the maturity of any OF said
notes. interest thereon shall at 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 onel more newspapers
published at the scat of government The payment or
redemption of said notes herein provided shall he made
to the lawful holders thereof respectively, upon present
ment 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 oil the United States Is
hereby solemnly pledged.
Section 3. And be it further enacted That such
treasury notes shall be prepared under the direction Of
the Secretary of the Treasury and shall be signed i'll
behalf of the United States by the Treasurer thereof
and counersigned by the Register of the Treasury.
Each of these officers shall keep i'll book or books
provided for that purpose separate full and accurate
counts showing the number, date, amount and rate OF
interest Of each treasury note signed and counersgncd
by them, respectively; and also similar accounts show
ing all such notes may be paid redeemed and Cancel
ed as The same may be returned all which accounts shall
be preserved in the Treasury Department. And the
Treasurer shall account quarterly for all such treasury
notes shall have been counersgned by the Register
and delivered to the Treasurer for issue.
Section 4. And be it further enacted, That the Sec
rotary of the Treasury is hereby authorized with the
appreciation of the President to such portion Of
said treasury notes may be deemed eXpedlelt to he
issued by the Treasurer in payment of warrants in favor
of public creditors or other persons lawfully entitled to
such payment who may choose to receive such notes III
payment at par And the Secretary of the Treasury is
further authorized with the appreciation of the Prcsi
dent to borrow from time to time such sums OF money
upon the credit of such notes the President may deem
expcdent provided, that treasury notes shall be
pledged, hypothetical sold disposed of i'll any way,
for any purpose whatever either directly indirectly,
for any less than the amount of such notes ncud
ing the principal and interest thereof.
Section 5. And be it further enacted That said rca-
sury notes shall be transferable by assignment endorsed
made payable accompanied together with the delivery of
the notes so assigned.
Section 6. And be it further enacted That said treas
ury notes shall be received by the proper officers in pay
men of all duties and taxes laid 10y the authority Of the
United States of all the public lands sold by said author
ty and Of all debts to the United States of any charac
ter whatever which may be due and payable at the time
when said treasury notes may be offered i'll payment
thereof and upon every such payment credit shall be
given for the amount of principal and interest due
the note notes the uaV when
the shall have been received by such officer.
Section :. And I've it further enate, That every col
leCOr OF the customs, receiver OF public moneys,
other officer agent of the United States who shall
ceve any treasury note notes III payment account
of the United States shall take from the holder Of such
note OF notes receipt upon the back Of each, stating
distinctly the date of such payment and the amount al
lowed upon such note and every such officer OF agent
shall keep regular and specific entries of all treasury
notes received in payment, showing the person from
whom received the number, date and amount of princi-
pal and interest allowed each and every treasury note
received i'll payment which entries shall be delivered to
the Treasury with the treasury note notes mentioned
therein and if found correct such officer agent shall
receive credit for the amount provided i'll the last
!: ton of this act.
Section 8. And he it further enacted, That the Sec
rotary 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
deposarCs and all others who may be required to re
ceivc such treasury notes in behalf Of and agents in
any capacity for the United States, to the custody
disposal cancelng aud return of any such notes as may
be paid to and received by them respectively and to
the accounts and returns to he made to the Treasury
Department of such receipts he shall deem best Cac
lated to promote the public convenience and security
and to protect the United States as well as individuals
from fraud and loss.
Section 3. And be it further enacted That the Sec
rotary of the Treasury be, and he hereby is authorized
and directed to to be paid the principal and inter
est of such treasury notes may be issued under this
act at the time and times When according to its pro
Visions the same should be paid. And the said Secre-
tary is further authorized to purchase said notes at par
for the amount of principal and interest due at the time
of the purchase such notes. And so much of any
Incorporated money i'll the Treasury may be neccS
sary for the purpose hereby appropriated to the pay
ment of the principal and interest of said notes.
Section TO- And be it further enacted That in place
of such treasury notes may have been paid and re-
deemed, other treasury notes to the same amount NAV
be issued Provided That the aggregate sum outstand
ing, under the authority of this act shall at time ex
coed twenty millions of dollars
Section IL And be it further enacted That to lefray
the expenses of engraving printing preparing and su
ing the treasury notes herein authorized the sum Of
twenty thousand dollars is hereby appropriated to be
paid out of any unapproprated money in the Treasury
Provided, That compensation shall be made to any
officer whose salary is fixed by law for preparing signing
Or issuing treasury notes.
Section T. And be it further enacted That if any
person shall falsely make, forge counterfeit Or cause
procure to be falsely made forged countereted
willingly aid assist i'll falsely making forging or cou
tertng any note in imitation of or purporting to be
treasury note issued aforesaid shall pass utter OF
publish OF attempt to pass utter publish true any
false forged COuntereitcd note purporting to be a
treasury aforesaid knowing the same to be false
y forged counterleite or shall pass utter or publish
as true any falsely altered treasury note issued as aore
said knowing the to be falsely altered every such
person shall be deemed and adudged guilty of felony