Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-09-18
proved, July IL, 1861.

ton IN. corps Of paynastcrs and assistant payrnus
tiers shall be reduced TO the number OF seTentyhVe
in tile whole.
Approved, July Il, 1861.
jPUEuc-No. g..
AN ACT to authorize a National Loan and for
other purposes.
Dc il enacted by the Senate and House Of Repre-
seutatiycs Of the United States Of America in Con-
greSs assembled That the Secretary Of the Treasury
be and lac is hereby authorized to borrow on the
credit of tire United States within twelve months
from tire passage of this act, sum not exceeding
two hundred and fifty millions Of dollars, OF 50 much
thereof lac may deem necessary for the public ser
vice, iOr which lie is authorized 10 issue coupon
bonds registered bonds, Treasury notes, in such
proportions Of each lie may deem adviS1Dle the
bonds 10 bear Interest not exceeding seven per cent
per nunuIn, payable semi-anually, irIedeemabe Tor
twenty years and after that period redeemable at
tile Measure of the United States and the Treasury
notes be of any denomination fixed by the Sec:e
tary of the Treasury, not less than fifty dollars and
he payable three years after date, with interest
the Of seveu and tlireetets per Centum per
anmun.. payable seIni.annnally. And the Secretary
uf the Treasury may also issue in exchange for coin.
and part Of the above loan or may pay Tor SALARIES
or "Iher dues from the Glntcd States treasury utes
"f less denomination than fifty UliarS moi br'Ir;
interest, but payable on demand by the Assistant
TIt4LsTcrs Uf the United States at Philadelphia. New
York or Boston, or Treasury notes bering interest
| at the rate of three and sNtytve mudrcltiis per
centuIn payable in one year from date aud cNchnIS
able any time for Treasury notes Tor hlty dollars
and upwad-, i~-uab!e under the authority of this
| act. and bearing interest specified above: PrUv
| ci. That exchange Of such notes in any less
nIuuuut than one hundred dollars shall bc mail" at
any uue time: Aud provided further That En
Treasury notes shall la issued ola less denomination
than ten dollars, and TINT the whole amount al
Treasury notes. not bearing interest issued under tie
authority Of this act, shall not exceed fifty millions
of dollars.
sec , Aud lee it further enacted. That the Tre.,-
snry note, mud bonds issued under the provisions Of
tii- act ral be signed 10y the Frst or second Comp
trul!rr. the rDIscrnT the Treasury. ard counter
signed by SUCH other 9ii'er or officers Of The Treas
my the secretary of III" Treasury may desigrttr
and all such obligations. oftlIe denomination Of fifty
dollars ana upwards shall he issued under the st
81 the Treasury Department. Tie registered bonds
-ili lie transferable nn the books o the Treasury
delivery Of the certificate. and tic coupon bonds
and Treasury nuirs shall lee transferable delivery
rhr interest coupons may bc signed by S;Ich person
t-i mated by the Secretary Of the Treasury, who
| =lril fiN the compensation tor the zane.
Sec 3. Aud " IL further enacted. That the Score
tory II the TreaAurN shall books To- ir opened
fr subscription To The Treasury notes for my dol
Iir- aud upwards. at such I!nces as lie may designate
in the United States. AMI under such rules AMI rcg
lai"S as lac may prescribe I" b." snpefiiitenred by
tc assistant uf the United States at heir
Localities. and Nt other places 10y SUCH de
pusturirs. Iu-IIGIcrs. and other persons a. lc may
designate. notice thereof Lrng given in at least two
daily papers oi this city. and in more Pubiic
newspapers published IN the several places vh"'c
subscription huUkSmay hc"rcnel; and subscriptions
for s,:c may lee received from all persons who
may desire sub-cTibY. amy law tu the contrary not
wiIl.tandIg; and if larger amount shall lac sl!b
-crihc Isl the ~ yregatc tttnis required at one t
tile Secretary Of the Treasury u authorized l" re-
Ccivo the should lac deem it advantageous to
Tie public INTEREST," ana u not lie shall accept IN"
HmutEt required 10y gvinl; the preference I" tiie
smaller subscriptions; and tile Secretary of the
Treasury shall IiN the CumIri .gliuuS of the pubic
officers uthcrs designated Tor receiving said sub
sgriutiUus: Provided. That. for Performing this
any utLcr duty i'll connection with this act. no COM
rcn-.liiun for services rendered shall I've allowed III
Paid t" any public officer whose salary Is established
by law; aud the Secretary no Treasury my alsO
make such ether rules ar equations - hc may
icrm eNuciitnt touching TIN in-ainlcnt I" BE- paid
ANY subscription at tie timc of subscribing. and
further payments Icy iu>talint ITS ct otherwise. and
penalties SIR nOn-ihEinent al amy iE-tllineit- AMI
al" concerning te receipt, deposit. and safe keep
W. If money received from such subscriptions until
the sumo can lc placed in the possession of official
Repositories ur the Treasury. any law laws I" the
contrary notwithstanding. And tLe Secretary Of
the Treasury is also authorized, il lac sall deem it
tCNpcdcut. before opening books oi subscription as
above provided, to exchange for coin lay irr
public dues for Treasury notes of tie issue OF
/ twrUty -thTd Of December eighteen hundred aud
itty-scvcn. and falling due on tile thirteth "i june
/ Glitren hundred aud siXty-Onc. or for Treasury
notes issued and taken III exchange for such notes.
any tn"u"t of slid Treasury notes for MY dollars
! or upwards not exceeding one hundred millions Of
! Sec l. And Ire IL further enacted That. hcIorc
awarding any portion If fS loan i'll bonds author
izc lay this act, the Secretary Of tile Treasury if lac
deem it advisable TO issue proposals for the in
the uued States. shal give not less than fifteen
days public notice III two or more o1 the public
Newspapers in !hc city of Washington. and in such
other places Of the United States :s lie may dCcu
advisable designating the amount Of such loan tile
piicC and the time up which scaled proposals i'll
Il" received for the the periods for the pay
and the amount vT each in=tnlmcnI in which it is
To be paid. aud the penalty for the nnr-payIuent Of
any such instruments, ami when aud where such pro-
poshs shall be opened in the presence Of such per-
Sous he may choose TO attend; and the secretary
uf the Treasury is authorized tn accept the IA
v"rahlo proposals offered by responsible bidders:
Provided, That "er shall DC accepted at less than
par.
Sec. D. Aud bo It further enacted That the Score
iHry of the Treasury nay, if he deem it advisable
neSotiate any portion "i sud loan, not exceeding
one hundred millions OF dollars. in any foreign
try. aud payable Mt amy designated place. either in
the United States in Europe. and regis
tered coupon bonds for the amount thus ncgOtia-
ted nsreeabIy to the provisions of this act bearing
interest payab!e semiannuaIlv either in the United
States any designated place in Europe: and l'c
is further authorized to appoint such agent agents
ms he mny deem necessary for negotiating -uclI loan
under his Instructions. aud for paying the interest
ON the same, and tn fix the compensation of such
agent agents. and shall prescribe Ia them all the
rules, regulations. and modes under which such loan
shall lie negotiated and shall have power I" fix the
rate Of exchange mt which the principal slRll he
ccived from the contractors for the loan. and the
change for the payment of the principal aud inter
! Get in Europe shall he at the same rate.
Sec. 6. And lie il further enacted. That whenever
any Treasury notes. Of denomination less than any
dollars authorized to be issued by this act shall have
been redeemed, the Secretary Of the Treasury may
reissue the same. may cancel them and issue new
greEAtc amount Of bonds and Treasury notes issued
under the foregoing provisions Of this act shall never
EXCEED the fall amount authorized by the first sec
tpn OF this act; and the power 10 issue or reissue
sDCb not shall cease and determine after the thirty
frst of December, eighteen hundred and sixty-two.
Sec z. And be it further enacted, That the Score
tay OF the Treasury Is hereby authorized whenever
he shall deem 1t eXpcdent, to Issue In exchange for
coin or in payment for public dues Treasury notes
OF any Of the denominations hereinbefore specified,
bearing interest not exceeding six per centum per
auuuul' and payable at any time not exceeding
twelve months from date, provided that the amount
OF notes so issued or paid shall at timo exceed
twenty millions Of dollars.
Sec. 8. And BE- Il further enacted That the Score
tary Of the Treasury shall report 10 Congress imme
diatUy after the commencement Of the next session.
the amount he has borrowed under the provisions of
this act, Of whom, and on what terms, with an abb
StTuet Of all the proposals., designating those that
have been accepted and those that have been reject.
ed, and tile amount Of bonds or Treasury notes that