Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1861-08-02
0a0rtrster 4ailg SPY,
OFFICIAL.
LAWS OF THE UNITED STATES.
49,, :, inc First Session of the Thlrty+eyenth
Hesseu - CnnercSS
TPUDLIC-No. o.
AN ACT TO authorize National loan, and for 9TH

FAsSeu " Congress
[PuBLIc-No. 81
AZ Acrto authorize a National Loan and for 9th
80 er purposes.
u. = ,,o,,,d bv the Senate and House Of Representa-
,;res of he United States Of Anerica, IN Congress as
sr,6ied That the Secretary OF the Treasury be ana
~ Is hereby authorized to borrow the credit of
the United States, thin twelve months from the
massage of this act, sum not exceeding two hun
dred and fifty millions of dollars or SO much there
of as NAV be deemed necessary for the public SER
vice for (which he is authorized to issue coupon |
bonds or registered bonds, or treasury notes, in such
nroportions of each as he may deem advisable; the
bonds to bear interest not exceeding seven per cen
tum per annum, payable semi annually, ire demapie
for twenty years. and after that period ledeemable
at the pleasure OF the United States; and the Ilea-
sury notes TO be of any denomination fixed by the
Secretary ofthe Treasury. not less than fifty dollars
and TO be PAYABLE three after date with inter
est al the rate of and threetenths per eetuln
DER annum. payable semi-anIually. And the seeIe-
tary of the treasury may also issue III exchange lor
coin and part OF the above loan, OF may pay LOT
salaries other dues nom the United States ilea-
sury notes of less denomination than fifty donals,
not bearing interest, but payable on demand by the
Assistant Ireasurers of the United States al fmia-
delphia. New York, or Boston, OF treasury notes
bearing interest at the rate OF three and slNty-tve
hundredths per centum, payable III one year rom
date, and eXchangeable at any time Tor treasury
notes for fifty dollars and upwards, issuahe under
the authority of this act and bearing interest as
specified above: Procided, That no exchange OF
such notes in any less amount than one hundred
dollars shall be made at any one time And Wor'ded
further, That Treasury notes shall be issued OF
less denomination than ten dollars and that the
whole amount of Treasury notes. not bearing inter
est issued under the authority OF this act shall not
exceed fifty millions of dollars.
Sec 2 And be it further enacted, That the treasury
notes and bonds issued under the provisions OF this
act shall be signed by the first OF second compiroi,
err the register of the treasury and counterslgheu
by such other officer officers OF the treasury US me
secretary of the treasury may designate and all
such obligations, of the denomination OF nifty DOL
lars and upwards, shall be issued under the seal OF
the treasury department. The registered bonds
shall be transferable the books OF the treasury on
the delivery ofthe 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 i'll such manner, as may DC
designated by the secretary of the treasury, VINO
shall fix the compensation for the same
Sec g. And be Il further enacted, That the secretary
of the treasury shall cause books to be opened Tor
subscription the treasury notes for fifty dollars
and upwards at such places as he may designate in
the United States, and under such rules and regula-
tons as he may prescribe, to be supe1ntended by
the assistant treasures of the United at their
respective localities and at other places by such de-
positaries postmasters and other persons as he may
designate notice thereof being given in at least two
daily papers of this city, and i'll one or more puDhc
newspapers published i'll the several places where
subscription books may be opened; and subscrip
tons for such notes may be received from all per-
sons who may desire 10 subscribe, any law TO the
contrary notwithstanding; and if a larger amount
shall be subscribed in the aggregate than Is required
at time the secretary OF the treasury is author
lied receive the same, should he deem it adyanta-
geous to the public Interest," and il not, he shall ac-
cept the amount required by giving the preference TO
the smaller subscriptions; and the secretary Of the
treasury shall fix the compensations OF the public Of
fcers others designated Tor receiving said subsel
tons POcided That for perfoi ming this any 9th
err duty in connection with this act, compensation
for services rendered shall be allowed 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
pedient touching the ins1alment to be paid on any
subscription at tile time OF subscribing, and further
payments by instruments or otherwise, and penal
ties for non-payment OF any instament, and also
concerning the receipt. deposit and safe keeping OF
money received from such subscriptions, until the
same can be placed in the possession of the official
depositaries of the treasury apy law or laws 10 the
contrary Notwithstanding. And the secretary OF
the treasury is also authorized, if he shall deem il
expedient, before opening books OF subscription as
above provided, to exchange for coin or pay fol
public dues for treasury notes of the issue o.
tweny-third of December, eighteen hundred ano
ftty-seyen, and falling due on the thirtieth OF june
eighteen hundred AID sxty-one or for reasur,
notes issued and taken il exchange for such notes
any amount of said treasury notes, any amount o
said treasury notes for fifty dollars upwards no
exceeding one hundred millions of dollars
inaac A. And be ii further enacted That before award
this portion OF the loan in bonds authorized By
It advisable Secretary of the Treasury II he deem
United States, issue proposals for the same in thu
public notice in I'll give not less than fifteen days
pers in the city Of NeI more OF the public newspa
bacss q lhe United staisg 70 anu n suon 1,ae
DIe sighatng The am ount o. ne may ueei auN ~
and the time up TO which, seq ia 'ch loan, the place
ana tbs ,oF ape same he periods for the w u
Ks sSs ~ the gsR En- ege u
fnay choose to let's and the Secretary of the
Treasury is authorized to accept the most favorable
proposals offered by responsible bidders: Pouided,
That no offer shall be accepted at less than par,
Sec 5. And be il further enacted, That the Secretary
OF the Treasury may, it he deem it advisable nego
tiate any portion of said loan, not exceeding one
hundred millions of dollars in any foreign country
and payable at any designated place, either in the
United States or In Europe and may issue registered
or cupon bonds for the amount thus negotiated
agreeably to the provisions of this act bearing in
terest payable semi-annually either in the United
States or any designated place in Europe; and he is
further authorized to appoint such agent or agents
as he may deem necessary Tor negotiating such loan
under his instructions and for paying the interest
on the same, and TO fix the compensation OF such
agent or agents. and shall prescribe them all lie
rules regulations, and modes under which such
loan shall be negotiated and shall have power to ix
the rate OF exchange at which the principal shall be
received from the Contractors for the loan and the
exchange Tor the payment of the principal and in
terest in Europe shall be at the same rate.
SEC g. And be il further enacted, That whenever
fifty dollars, authorized be issued BY this act shall
have been redeemed the Secretary Of the Treasury
may reissue the same, may cancel them and is
new notes to equal amount: Prouided That
the aggregate amount of bonds and Treasury notes
issued under the foregoing provisions of this act
shall never exceed the full amount authorized by
the hrst section Of this act; and the power issue
or reissue such notes shall and determine after
the thirty OF December, eighteen hundred and
sixty-two.
SEC 4 And be ii further enacted That the secreta r
of the Treasury is hereby authorized, whenever he
shall deem it expedient, to issue in exchange for
coin, in payment for public dues Treasury notes
OF any OF the denominations hereinbeioie specified
bearing interest not exceeding six per centnm ner
annum, and payable at any time not exceeding
twelve months from date providing that the am outI
Of notes SO issued or paid shall at time exceed
twenty millions of dollars
DEC O. ana De u Tasher enacted That the Secretary
OF the treasury shall report to Congress immedi-
olately 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
abstract OF all the proposals. designating those that
have been accepted, and those that have been rejec
ted, and the amount of bonds or Treasury notes
that have been issued for the same.
SEC ~ And be IL further enacted That the faith
OF the United States is hereby solemnlv
pledged for the payment of the interest and redem
ton OF the principal of the loan authorized by this
act - VINO
SEC TO- And be it further enacted That all the nro
visions of the act entitled AN act to authorize the
issue of Treasury notes. approved the twenty third
day OF December, eighteen hundred and ffty-seyen
so far as the same can may be applied to The pro
visions OF this act and not inconsistent tberevifH
are hereby revived or re-enacted.
SEC. H. And be IL further enacted. That TO defiav
81 the expenses that may attend the execution Of
this act, the sum of two hundred thousand dollars
or SO much thereof as may be necessary be and the
same is hereby appropriated to be paid out of any
money IN the Treasury not otherwise Appropriated
Approved, July II, 1861
tPUBLIc-No. 81
AN ACT making additional appropriations for the
support OF the army for the fiscal wear ending
june thirtieth eighteen hundred and siStv-f,vo9
and appropriations OF arrearages for the fiscal wear
ending june thirtieth. eighteen red and sixty
''
Be IL enacted By the Senate House of RepyeSenta
fives Of re United States Of America in Congress as
senbied, That the following sums be and the same
are hereby appropriated, out of any money in the
Treasury, NOT otherwise appropriated fol the SIM
port of the army for the year ending the thirtieth Of
June. eighteen hundred and sxty-trn