Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-11-07

list of assistant Paymasters
Sec t. And be it further enacted, That within six
months after the expirati of the present insurrec-
ton the corps Of paymastcrs and assistant Paynas
tiers shall be reduced to the number OF seventyivc
in the whole.
Approved, July Il, 1861.
iPUBuc-No 81
AN ACT to authorize a National Loan and for
other purposes
he il enacted by the Senate and House of Repre-
sentat;ves of the United States of America in Com
ress assembled. That the Secretary of the Treasury
bc 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. much
thereof he may deem necessary for the public ser
vice. for which he is authorized to issue coupon
bonds registered bOn.ls Treasury notes in smcl
proportions Of each rs lie may deem "dNls""ej tine
bonds To bear Interest not exceeding seven per Chi
per uunUm. payable scIi-amualy, irredceInHhlc FOR
twenty years and after that period rcdcennblv At
the. pleasure of the United States: and the Treasury
notes be Of any denomination fixed by the SecIe-
tary Of the Treasury, not less than fifty dollars nd
he payable three years after date. with interest
Mt the Ufsevcn ami threetenths per ccntum per
aununn. payable semiannually. And tile Secretary
uf the Treasury may also issue in exchange for com.
and part of the above loan may pay tor SALARIES
other dues from the United states, Treasury n"ica
of less denomination khan fifty dollars not bearing
interest hut payable on demand 10y the Assistant
Tras1Irers of the United States Philadelphia New
York Boston. Treasury notes bearing interest
the rate OF three AMI sNty-hve hundredtlIs per
centum. lIy able i'll from date. and eXcalg-
able at notes Iur MY uultllS
and upwards issuable under the authority Of Ibis
act and bearing interest specified above: Pr"ri-
,Iel. That 40 exchange Of such notes in any less
amount than one hundred dollars shall bc made at
any one time: And provided further. That
Treasury shall Ice issued of loss denomination
than ten dollars. and that tile Whole amount u
Treasury not bearing interest issued under the
authority Of this act, shall not exceed nifty millions
of dollars.
Sec. :. And be il further enacted, That the Trc:I
sury notes and bonds issued under the provisions Of
this act shall bc sigEcd lay the First Second Comp
troilcr the Register of the Treasury aud counter
signed 10y SUCH other oi'cr or "liccrT OF me Treas
airy the Secretary Of the Treasury may designate:
aud all such obligations. of the denomination Of nifty
dollars and UPWARDS shall he issued under the seal
OF the Treasury Department. The registered bonds
shall lie transferable on the books Of the Treasury
delivery of the certificate. and the coupon bonds
and Treasury shall be transferable on delivery.
The interest coupons may be signed 10y such person
or persons or exc, utCd in such manner. may he
designated 10y the Secretary Of the Treasury who
-iLll fix the compensation for the same.
Sec. - And be 1t further enacted, That the Sccre-
tary of tile Treasury slil cause books to be opened
FIR subscription to the Treasury notes for fifty dol
lars aud upwards at sIc places ns lac may designate
ia the United States, and under such rules and TcT-
iations as lac may prescribe to lie supernendcd 10y
She assistant treasurers of the United States at their
respective localities and at other places by such de
pOsitories pOstmasGrs, ard other persons as lac may
designate, notice thereof being given i'll ut least Two
daily papers Of this city, and IN one or more pubic
newspapers published III the several places wher"
subscription books be opened: and subscriptions
for such notes NAV lie received from all persons who
may desire to subscribe. any law to the contrary not
withstHnding; and if larger amount shall be sub
scribed in the aggregate than is required at one time
tl!c Secretary of the Treasury is authorized 10
ceyc the same, should he deem it advantageous t"
the public INTEREST," and If not lie shall accept the
amount required by giving the preference to the
smaller subscriptions; and the secretary OF the
Treasury shall fix the cuHpen-at0ns OF the pubic
officers others designated for receiving said -uh
scriptions: Provided That for p rorming this
any other duty in COnneNiun with this act,
pcnsHtion for services rendered shall be allowed
paid to any public officer whose salary is established
~ e In
make such other rules ar equations As he may
deem cNpcdient touching the in-talmcIt to DC paid
any subscription ut the time of subscribing. and
further payments by instruments or otherwise, ami
penalties for nOn-payment of any instrument and
also concerning the receipt, deposit and safe keep
ing Of money received from such 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
cNpclient, before opening books of subscription
above provided, to exchange for coin pay for
public dues or for Treasury notes of the issue of
twenty-thrG OF December, eighteen hundred :thd
fftyseveu. and falling due the thrtietl of June
eighteen hundred and siXty-one, or for Treasury
notes issued and taken in exchange for such notes.
any amount of said Treasury notes for nifty dollars
ur upwards not exceeding ouc hundred millions Of
dollars
awarding any portion of the loan in bonds author
jed 10y this the Secretary Of the Treasury il lac
deem it advisable to issue proposals for the III
the Uuited Staies. shall give not less than fifteen
days public notice i'll two more of the pui!ic
newspapers in the city Of Washington. and in such
other places Of the United States its lie may deem
advisable, designating the amount of such loan. the
place and the time up to which scaled proposals will
lie received for the the periods for the payment
and the amount of each instrument in which il is
to be paid. and the penalty for the ymcnt of
any sch instalmcnts, and when aud where such pro-
posalS shall be opened in the presence Of such per-
sons as lie may choose To attend; and the Secretary
of the Treasury is authorized to accept the most ia
vor5tble proposals offered by responsible bidders:
Provided That offer shall be accepted at less than
par.
Sec. 5. And be it further enacted. That the Score
tary OF the Treasury may if lie deem it advisable.
negotiate any portion of said loan not exceeding
one hundred millions of dollars, in any foreign
try. and payable ut any designated place. either in
the United States in Europe, and may issue regis
tered or coupon bonds for the amount thus negota-
ted agreeably to the provisions of this act, bearing
interest payable semi-annually either in the United
States or at any designated place i'll Europe and he
is further authorized appoint such agent agents
as lie may deem necessary for 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 to them all tie
rules regulations, and modes under which such loan
shall be negotiated, and shall have power to fix tho
rate of exchange at which the principal shall he
Ceved from the contractors for the loau and the
change for the payment Of the principal aud inter-
est in Europe shall be at the same rate.
Sec. g. And be it further enacted. That whenever
any Treasury notes of denomination less than fifty
dollars authorized to he issued by this act shall have
been redeemed the Secretary of the Treasury may
reissue the same. or may cancel them and issue
notes to an equal amount: Provided That the aC-
gregte amount oil ponds ana treasury notes Issued
ndeT the foregoing provisions of this shall
exceed the full amount authorized by the first
ton of this act; and the power to issue or reissue
such not ssha cease and determine after the thirty
first of December, eighteen hundred and sxty-twr.
Sec. Z. And be it further enacted, That the Secre-
tary of the Treasury is hereby authorized whenever
he shall deem it expedient, to issue in exchange for
coin, or In payment for public dues Treasury notes
OF any Of the denominations hereinbeforo specified,
bearing interest not exceeding six per centum per
annum, and payable at any time not exceeding
twelve months from date, provided that the amount
Of notes so issued or paid shall nj time exceed
twenty millions Of dollars.
Sec 8. And be It further enacted That the Secrc~
tary Of the Treasury shall report to Congress- inme
tOtely after the commencement Of the session,
the amount nc has borrowed under the provisions Of
this act, OF whom, and on what terms, with ABB
stract Of all the proposals, designating those tina!
have been accepted and those that have been reject
e., and the amount Of bonds Treasury notes that
have been Issued for the same.