Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-10-21

ieTs shalI be made by regular promotion from the
Sc. d And be it further enacted, That within six
months amer the expiration OF the present insnrrec
ti0B the corps Of paymasters and assistant Paymas
tiers shall be reduced to the number OF seVenty-hVe
Approved, July IL, 1861.
tPUBuo-So. 81
AN ACT to authorize National Loan aud for
other purposes.
he it enacted by the Senate and House Of Repre-.
sentAtiyes Of the United States Of America in Com
eress assembled, That the Secretary Of the Treasury
he and he il hereby authorized to borrow on tile
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 much
thereof he may deem necessary for the public
1 vice, for which he Is authorized 10 Issue coupon
bonds registered bonds, Treasury notes. In such
proportions Of each ~ he may deem advisable; the
bOnds to bear interest not exceeding per
per annum, payable semi-annually, rredeenabie for
twenty years, and Riter that period Reasonable at
the pleasure Of the United States; and the Treasury
notes 10 be Of any denomination fixed By the Secre
tnry Of the Treasury not less than my dollars, and
to be payable three years amer date with interest
Mt the rate Of aud threeteths per centuin per
Hnhum, payable seIniannually: Aud the Secretary
Of the Treasury may also Issue in exchange for colin
and part Of the above loan may pay tor SALARIES
CT other dues fum the United States, Treasury notes
uf less denomination than fifty dollars, not bearing
intcrest but payable on demand by the Assistant
TTralsuTeTs Of the United States nj Philadelphia New
York Boston, or Treasury notes bearing interest
mt the rate Of three and siXty-hye huhdredths per
centuin, payable in one year from date aud eXehang
able ut any time for Treasury notes for ty dollars
and upwards, issualie under the authority Of this
net, and bearing interest specified above: Pruy-
tleI, That exchange Of such notes in any less
amount than one hundred dollars shall be made at
any time: And provided further, That no
Treasury notes shall Le Issued Of less denomination
than ten dollars, aud that the whole amount OF
Treasury notes not bearing interest issued under the
authority Of this act shall not exceed nifty millions
! OF dollars.
Sec. 2 And be 1t further enacted, That the Trua-
Hry notes and bonds issued under the provisions OT
thIs shall be signed by the First Second Comp
tTOeT the LEICESTER Of the Treasury and counter
signel by such other officer officers Of tile Treas
uTy the Secretary Of the Treasury may designate;
and all such obligations, Of the denomination Of ty
dollars aud upwards, shall be issued under the seal
Of tho Treasury Department The registered bonds
slral ba transferable the books Of the Treasury
on dtairrFy u aud the coupon bonds
The interest cOurns may be sigucd by such PcTsoH
or persons, executed in such man1er, may be
Designated by the Secretary Of the Treasury, who
zlAll Tx the compensation for the same.
Sec. 3 And be It further enacted That the Score
taTy OF tho Treasury shall cause books to he opened
for subscription to the Treasury notes for y dol
lars and upwards, at such places rs r may designate
In the Uhlted States and under such rules and regu-
atons Rs he may prescribe, TO be supeTintended by
the assistant tTcasurer Of the United States ~ their
respective localities and at other places by such de
oSitOries pGstmasters and other persons rs 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 bOOksmay beopened; and subscriptions
for such notes may he received from all persons who
may desire to subscribe any law to the contrary not
Withstanding; aud iTa larger amount shall DO sub.
srTbed In the aggregate THANH required at one time
the Secretary Of the Treasury is authorized TO re-
ceive the same should he deem IL advantageous to
tile public interest; and " not. he shall accept the
amount required by giving the preference TO the
smaller subscriptions; and the Secretary Of the
Treasury shall M the compensations Of the public
officers or Others designated for receiving said sub
scriptions: Provided, That, for performing this
any other duty In connection with this act, no com
pensatiOn for services rendered shall be allowed OF
paid to any public officer whose salary is established
10y aWi and the Secretary C he Treasury may also
make such other rules REf equations rs he may
deem eNPedient touching tho instalment TO be paid
any subscription at the time OF subscribing, and
further payments by instaiments or otherwise, and
penalties for non-pSyment OF any instalment, and
aIsO concerninu the ncceipt Iepost and safp keen.
ing OF money received from such subscriptions nnt
the same can be placed in the possession Of official
dep-itOries OF the Treasury any law laws TO the
contrary notwithstanding. And the Secretary oi
the Treasury Is also authorized, ifhe shall deem Il
expetlient. before opening bOoks OF subscription
above provided To exchange for coin or pay f1T
public dues for Treasury notes OF the Issue OF
tSeniythird Of DeSemecr, cishtecn hundred and
huy-EeVen, and falling due the thirtieth Of June
eighteen hundred and sixtyone, or for Treasury
notes Issued and taken in exchange for such notes
any amount Of said Treasury notes for hfty dollar
or upwards not exceeding one hundred millions d
sec. l. And be Il fnriher enacted. That. beEor,
awarding any portion Of the loan In bonds author
He by this act the Secretary OF the Treasury Il he
deem advisable to Issue proposals for the IN
the Uuited States, shall give not less than iIeeU
days public notice In two or moro Of the public
newspapers In the city Of Washington, aud in such
other places OF the United states ng he may deem
advisable designating the amount Of such loan thC
place and the time up TO which sealed proposals viii
he received Tor the same, the periods for the payment
and the amount Of each instAluleut In which It Is
TO be paid and the penalty for the nOn-payment Ot
any such instruments and when 4ud where such pro
Posas shall be opened ia the presence Of such per
sons as he may choose attend; and the Secretary
Of tho Treasury is authorized To accept the
Vurablu proposals offered by responsible bidders
Provided, That oer sAal be accepted at less thAu
Sec. s. And be it further enacted, That tho sOcre-
tary Of the Treasury may, il he deem i advisable
one hdnfed ihfions OF dollars IN any foreign conn
Try, aaa psyabe at any designated place, either in
tered or coupon bonds for tho amount thus negotia
Ted agreeabl to the pFuvisions Of this act bearing
iatSfe1t payable soannually, either IN the United
States or q any designated place in Europe: and he
Il further authorised to appoint such agent AGENT
a he may deem nseesaIy for ues0tiating such lOaH
ON tho same, and to tx the compensation Of such
agent agents and shall prescribe to them all the
rules. regulations md modes under which sueh Ioau
shall be negotiated, and shall have power to tx tn,
nate Of exchange az which the principal shall he
eeirrd rum the contractors for the loan and the
change for tho payment Of the principal and inter
est IN gurgpe shall be at the same rate.
Sec. 9, And be IL further enacted, That whenever
any Truasury notes Of denomination less than ftJ
dollars authorized " Be Issued by this act shall haze
been redeemed, the Secretary OF the Treasury may
reissue the saine CT may cancel them and issue new
notes to an equal amount: Provided. That the az
grugate amount Of bonds and Treasury notes Issues
under The fsrsgung provisions Of this act shall
exceed the tnli amount authorized by the first
tion Of this act; and the power to issue or reissue
such not ,ahAl eeAse and determine afterth thirty
hTst Of DoeemboF, eighteen hundred and sixty-tWo.
Sec ]. And be u further enacted That the Score
tATy o. tho Treasury 4 hereby authorized, whenever
he shall deem u oGpedient to issue In exchange foi
coin, In pAyn5ent for public dues Treasury note
Of any OF the determinations heretnbsfoFe specified
bearing Interest not exceeding six per eentum pei
annum, and payable a. any time NOT exceedinl
twelve months from date, provided that the amount
o. notes % lssaed OF paid ehal At no time e1eeej
twenty millions o. doltars-
Sec. 3 And b Il further enacted, That the Secre
laFy Of the Treasury shAit rrport to COngFOz immo
dately aftsr the ecrneneement Of the next session
the amount be has borrowed under the provisions o
this act, o. whom, und 90 what terms, with an al
stTaet % Al the pruppsals, designating thoso thai
hare been aeeepto and thosa that have been reject
g, I'D ,sS saos1t g hooe Or Treo'ury notes thai