The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1861-07-29
OFFICIAL.
LAWS OF THE UNITED STATES
Passed at the First Session Of the Thirty
seVeRth Congress-
[PUBLIc-No. 5.
AN ACT to authorize National Loan and
for other purposes

for other purposes.
Be 1t enacted 6y the Senate and House Of
Representatives of the United States of Amer
sea in Congress Assembled, That the Secre-
tary of the Treasury be and is hereby au-
thorized to borrow, on the credit of the
United States, within twelve months from
the passage of this act, sum not exceed
ing two hundred and fifty millions of dol
lars, or so much thereof as he may deem
necessary for the public service, for which
he is authorized to issue coupon bonds, or
registered bonds or treasury notes, in such
proportions of each as he may deem advisa-
BILE the bonds to bear interest not exceed
ing seven per cent. per annum, payable
semi-annually, irredeemable for twenty
years, and after that period redeemable at
the pleasure of the United States and the
Treasury notes to be of any denomination
fixed by the Secretary of the Treasury, not
less than fifty dollars, and to be payable
three years after date, with interest at the
rate of seven and three-tenths per ceutum
per annnm, payable semi-annually. And
the Secretary of the Treasury may also is
sue in exchange for coin, and as part of the
above loan, or may pay for salaries or other
dues from the United States, Treasury notes
of less denomination than fifty dollars,
not bearing interest, but payable on de-
mand by the Assistant Treasurers of the
United States at Philadelphia, New York,
or Boston, or Treasury notes bearing inter-
est at the rate of three and sixty-ive hun
dredths per centum, payable in one year
from date, and exchangable at any time for
Treasury notes for fifty dollars und upwards,
issuable under the authority of this act.
and bearing interest as specified above -
ProOided, That no exchange of such notes
in any less amount than one hundred dol
lars shall be made at any one time and
proUided further, That no Treasury notes
shall be issued of a less denomination than
ten dollars, and that the whole amount Of
Treasury notes, not bearing interest, issued
under the authority of this act shall not
exceed fifty millions of dollars.
SEC. 2. And be 1t further enacted, That
the Treasury notes and bonds issued under
the provisions of this act shall be signed by
the First or Second Comptroller, or the Re-
gister of the Treasury, and countersigned
by such other officer or officers of the
Treasury as the Secretary of the Treasury
may designate and all such obligations of
the denomination of fifty dollars and up,
wards, shall be issued under the seal of the
Treasury Department. The registered bonds
shall be transferable on the books of the
Treasury on delivery of the certificate, and
the coupon bonds and Treasury notes shall
be transferable by delivery. The interest
coupons may be signed by such person or
persons, or executed in such manner as
may be designated by the Secretary of the
Treasury, who shall fix the compensation
for the same.
SEC. 9. Ind be it further enacted, That
the Secrata of ths- -TzHeaarss rk1II,sts
in the United States, and under such rules
and regulations as he may prescribe, to
be ruperintended by The assistant treasurers
of the United States at their respective ioz
calities, and at other places by such deposit
taries, postmasters, and other persons as he
may designate, notice thereof being given
in at least two daily papers of this city, and
in one or more public newspapers published
in the several places where subscription
books may be opened; and subscriptions for
such notes may be received from all per-
sons who may desire to subscribe, any law
to the contrary Notwithstanding and if
larger amount shall be subscribed in the ag-
gregate than is required at one time, the
Secretary of the Treasury is authorized to
receive the same, should be deem it advan-
tageous to the public interest and if not,
he shall accept the amount required by Civ
ing the preference to the smaller subscrip-
tions; and the Secretary of the Treasury shall
fix the compensations of the public officers or
others designated for receiving said sub
scriptions Provided, That, for performing
this or any other duty in connexion with
this act, no compensation for services rendered
shall be allowed or paid to any public officer
whose salary is established by law; and the
Secretary of the Treasury may also make
such other rules and regulations as he may
deem expedient touching the instalment to
| be paid on any subscriptions at the time o.
subscribing, and further payments by in
stalments or otherwise, and penalties fol
| non-payment of any instalment, and also
concerning tbs receipt, deposit and safe
/ keepiug of money received from such sub.
scriptions, until the same can be placed il
the possession of official repositories of tbs
Treasury, any law or laws to the contrary
notwithstanding. And the Secretary o
the Treasury is also authorized if he shall
deem it expedient, before opening books o
subscription as above provided, to eXchangt
for coin or pay for public dues or for Treas
urv notes of the issue of twenty-third De
cember, eighteen hundred and ffty-seven
/ and falling due on the thirtieth of June
eighteen hundred and sixty-one, or 10
Treasury notes issued and taken in exchaug
for such notes, any amount of said Treasu
ry notes for fifty dollars or upwards not ex
ceeding one million of dollars.
Sec. 4. And be at further enacted, Tha
before awarding any portion of the loan il
bonds authorized by this act, the Secretar.
of the Treasury, if he deem it advisable t
issue proposals for the same in the Unite
States, shall give not less than fifteen day:
public notice in two or more of the publ
newspapers in the city of Washington, an
in such other places of the United States 8
: he may deem advisable, designating th
r amount of such loan, the place and the tim
up to which sealed proposals will be recei'
: ed for the same, the periods for the paymen
4 and the amount of each instalment in whic
y it is to be paid, and the penalty for the moi
: payment of any such instalments, and whe
and where such proposals shall be opene
in the presence of such persons as he ma
choose to attend; and the Secretary of II
Treasury is authorized to accept the mo
$ favorable proposals offered by responsib
: bidders: Provided, That no offer shall
accepted at less than par.
Ser K An6 be II further enacted Tb