Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-08-29

Sec G. And be it further enacted, That within six
months after the expiration of the present insuTTec-
tinn the curus of paymasters and assistant payInas
tiers shall be reduced to the number oil seNehtynEe
in the whole.
Approved, July II, 1861.
lPUDLIc-No. 81
AN ACT to authorize National Loan and for
other purposes.
BE it enacted by the Senate and House Of Repre-
sCntu ives of the United States of America i'll Con-
gress assembled That the Secretary Of the Treasury
be and he is hereby authorized to borrow, on the
credit Of the United States within twelve months
from the passage of this act, sum not exceeding
two hundred and fifty millions OF dollars, or 80 much
thereof he deem necessary for the public SER
vice, for which he is authorized 10 issue coupon
bonds, registered bonds, or Treasury notes in such
proportions of each As he may deem adNisaUej the
bonds to bear interest not exceeding seven per cent
per annnm, payable Seml-hnnually lrreueehlaDIe LOT
twenty years, and after that period redcenablc ut
the pleasure of the United States and the Treasury
notes TO lie Of any denomination fixed by the Secre
tnry of the Treasury, rot less than fifty dollars and
lie payable three years after date, with interest
at the rate of seven and thrretenths per cCntun per
nnnuni. papable semi-annuully. And the Secretary
Of the Treasury may also issue in exchange for coi
and us part of the above loan may pay for salaries
other dues from the United States, Treasury notes
of less denomination than fifty dollars not behrIiiS
interest, but payable on demand by the Assistant
Treasurers Of the United States at Philadelphia New
York or Boston. or Treasury notes bearing interest
at the rate of three and siXty-tve huudTedihs per
ccntuIn, payable in year from date and cXciang-
able any time for Treasury notes for nifty dollars
and lSsudDe ullutF the authority 't tHls
act and bearing interest as specified above: Pr"Ni-
dr,l, That exchange of such notes ia any less
amount than hundred dollars shall he nude at
any one time: Aud provided further That no
Treasury notes shall bc Issued Of less denomination
| than ten dollars and that the whole amount Of
Treasury notes. bearing interest issued under the
authority of this act, shall not exceed fifty millions
al collars.
snry notes and bonds issued under the provisions of
this act shall be signed 10y the First Or Second Comp
rollrr. the Register Of the Treasury and counter
signed 10y such other officer or officers OF The Treas
ury the Secretary OF the Treasury may dcslgnate
and all such obligations. Of the denomination Of fifty
dollars and upwards, slall lie issued under the seal
uf the Treasury Department. The registered bonds
shall he transferable the books of the Treasury
on delivery of the certificate AMI the coupon bonds
and Treasury notes shall he transferable OH delivery
The interest coupons may be signed by such person
persons. .utcd in such manner. as may be
designated by the Secretary of the Treasury, who
! shall iX the compensation for the same.
Sec. - And he it further enacted. That the Secre
ary of the Treasury shall cause books to he opened
for subscription tU the Treasury notes for my dol
lars and upwards at such plHces he may designate
in the United states and under such rules and rcgu
IatiupS he may prescribe. to be superintendcd by
the assistant trCasurcTs OF tile United states AT their
respective localities, and Mt other places 10y such de-
pusiIOTGs pOstmnsteTs ard other persons as lac may
designate, notice thereof being given i'll at least two
daily papers of this city, and i'll one or more public
newspapers published III the several places where
subscription b"Oksmay LcUpencd: and subscriptions
for such may hc received from all persons who
may desire to subscribe any law To the contrary not
withstanding and If n larger amount shall he sub
scrbe lit the aggregate tlnis required at one time,
the Secretary of the Treasury is authorized to re-
Ccye the same should he deem it udynntng euus to
the public INTEREST," aud if he shall accept the
amount required by giving the preference to the
| smaller subscriptions; and the Secretary OF the
/ Treasury shall fix the CUmpensatiOns of the public
officers others designated for receiving said sub
scriptioms: Provided, That. for performing this or
ANY other duty in c0nneNi0n with ms act no COll-
pcnSatiOn for services rendered shall be allowed or
paid to any public officer Whose salary is established
y law: and the Secretary of the Treasury may also
make such other rules and regulations as lie may
deem expcdient touching the instamcnt To he Iaid
on any subscription at the time of subscribing. and
further payments by iustalmemta otherwise, and
penalties for nun-paEment of any instrument, and
also concerning the receipt, deposit, and safe keep
ing If money received from suc subscriptions until
the be placed in the possession Of official
Repositories of the Treasury, any law laws TO the
contrary notwithstanding. And the Secretary OF
the Treasury is also authorized, II he shall deem II
cXpedent, before opening books OF subscription As
above provided, to exchange for coin or pay for
| public dues or for Treasury notes of the issue of
| twenty-thrd of December, eighteen hundred and
fiy-seven, and falling due the thirtich Of June,
eighteen hundred and siNty-onc, or for Treasury
notes issued and taken in exchange for such notes,
any amount of said Treasury notes for fifty dollars
I or upwards not exceeding one hundred millions of
dollars
Sec 4. And lie it further enacted. That, before
awarding any portion of the loan in bonds author
lied by this act the Secretary Of the Treasury if he
deem it advisable issue proposals for the same in
| the Uutcd States, shall give not less than fifteen
days public notice in two more of the public
ncyysIapprs in the CITY of Washington and in such
other places of the United States rs he may deem
advisable. designating the amount Of such loan the
place and the time up which sealed proposals will
be received for the same, the periods for the payment
and the amount Of each instament in which it is
to be paid, and the penalty for the nOHpayment of
any such instruments, and when md where such pro-
pOsas shall bV opened in the presence of such per-
sons he may choose to attend; and the Secretary
of the Treasury is authorized to accept the IA
vorable proposals offered by responsible bidders {:
Provided That offer shall be accepted ut less than
par.
e ha fVi
negotiate any portion of said Loan not exceeding
one hundred millions Of dollars in any foreign conn
try. and payable at any designated place, either in
the United States in Europe, and may issue regis
tered coupon bonds for the amount thus ncgOtia-
ted agreeaLly TO the provisions OF this act. bearing
interest payable scml-annally, either IN the united
States ut any designated place in Europe; and he
is further authorized to appoint such agent or agents
AS he may deem necessary for negotiating such loan
under his instructions, and for paying the interest
on the same, and To fix tho compensation Of such
agent agents, and shall prescribe to them all tho
rulcR regulations and modes under which such loan
shall be negotiated and shall have power to fix the
of exchange at which tho principal shall be re-
ceivcd from the contractors for the Loan and the
change for the payment Of the principal and inter-
est iii Europe shall be at the same rate.
Sec 6. And be it further enacted, That whenever
anv Treasury notes. Of denomination less than ffty
dollars authorized 10 he issued by this shall have
been redeemed, the Secretary of the Treasury may
reissue the same, or may cancel them and Issue new
notes to an equal amount: Provided That the ag-
Eregnte amount Of bonds and Treasury notes issued
under the foregoing provisions Of this act shall never
exceed the t1Il amount authorized by tho nrst sec
tinn OF this act; and the power to issue or reissue
such not shall cease and determine after the thirty
frst Of December, eighteen hundred and sxty-two.
Sec. 4 And be it further enacted, That the Secre-
tary OF the Treasury is hereby authorized whenever
he shall deem it expedent, 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 ceutum per
annum, and payable at any time not exceeding
twelve months from date provided that the amount
Of notes 60 issued or paid shall at no time exceed
| twenty millions Of dollars.
Sec 8. And be It further enacted, That the Secrc-
tary OF the Treasury shall report to Congress- Dimc
dately 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 alb
stract Of all the proposals, designating those that
have been accepted and those that have been reie
I'd and tie amount Of bonds or Treasury notes that