Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-11-06

Sec d. And be it further enacted. That within six
months after the expirat Of the present insurrec
tinn the corps of paymnsters and assistant paymas
tiers shall be reduced to the number of seventy-ve
in the whole.
Approved, July Il, 1861.
[PUBuc-No. 81
AN ACT to authorize National Loan and for
other purposes.
Re it enacted by the Semitic and House of Repre-
sentatves of the United States of America in Con
trrss assembled That the Secretary of the Treasury
lie and lie is hereby authorized to borrow, Oh 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 50 much
thereof lac deem necessary Tor the pubic SER
vice for which he is authorized to issue coupon
bonds. registered bombs, or Treasury notes IN Shc
prupurtiuns of each as he may deem advisable; tile
bonds Ia bear interest not exceeding seven per cent
ner annrm pavaIie scnif.anmualIy, rredcemabIc Tor
twenty yeaI H. and after that period redcemRble ut
the pleasure OF the United states; and the Treasury
notes be of any denomination fixed by the Secrc-
tary Nf the Treasury, not less than htly dollars, and
10 be payable three years after ate, with interest
mt the UfseYcu and three trfths per ceutliIn per
annun!. PAYABLE scmi.annIally: And the Secretary
II the Treasury may also issue IN tNchhtEe LOT c0i
and as Itrt of the above nau may pay tor salaries
CT other dues from the United States. Treasury noicS
nC less denomination than fifty dollars, not bearing
interest. bnt payable On demand by the Assistant
Treasurcrs of the United States ut philadelphia, New
York Boston. or Treasury notes bearing interest
ut the r1Ite of three and siXtyfve hundredths per
centuT payable in one year from date and eXcllaug-
able Mt any time for Treasury notes for fifty dOaIs
and upwards. issuablc under the authority OF this
net, aud hearing interest as specified above: PruNi-
Jlcd, That no exchange Of SuclI notes in any less
amount than one hundred dollars shall be made at
any one time: And provided further, That no
Treasury notes shall he issued of less denomination
than ten dollars, and that the whole amount "f
Treasury notes bearing interest issued under the
authority OF this act shall not exceed NIFTY millions
Of dollars.
Sec. =. Aud he it further enacted That the Tret-
sIry notes aud bonds issued under the provisions OF
thi: act shall he signed by the First Second Comp
trOer OF the Register of the Treasury, and counter
signed by such other officer or officers of tile Treas
ury as tile Secretary of the Treasury may designate;
and all such obligations. OF the denomination Of fifty
dollars and upwards, shall be issued under the seal
of the Treasury Department. The registered bonds
shall lie transferable the books of the Treasury
on delivery Of the certificate. end the coupon bonus
and Treasury notes shall lie transferable OF delivery
The interest coupons may be signed by such person
persons exc, utod in such manner as may bs
designated 10y the Secretary of the Treasury, who
snlI fix the compensation for the same
Sec. 8. And he it further eunced. That the Score
;ary of the Treasury shalt cause books to Ice opened
I.r subscription to the Treasury notes for fifty dol
lars and unwnrls mt such places lie may designate
in the United States under suclI rules and reEn
iaIDus lac may prescribe. to he superInienled 10y
assistant trcSurcrs of the United States ut their
respective localities, and At other places by sliclI de-
positorie postmnsters and other persons as he may
designate, notice thereof being given ia at least twn
daily papers of this city, and i'll one or more public
newspapers published III the several places whcf"
subscription books may bcDpcne'; aud subscriptions
for such may hc received from all IcrsUnS who
may desire subscribe. any law Ia the contrary moi
withsanding: aud IL larger amount shall be sui
srhed in the aggregate than i required at one time.
the Secretary of the Treasury iR authorized TO Ic-
CCvc the same. should lie deem it advantageous l.
tile public interest; and il not, lie shall accept the
amount required 10y giving the preference TO tile
smallcr subscriptions; ami the Secretary oi ~"
Treasury shall nix the computations uf the public
officers others designated for receiving said sub
scrpionS: Provided. That, for ptrforminG this ar
amy other duty in c"nucNinn with this act no cont
uensation for services rendered shall lie allowed
paid any public officer whose salary Is established
y law; AID the secretary ne Treasury may also
mall. aNV.I 9th RTHIa
deem eXpedicnt touching thu in>tamcut TO be IIi'i
any subscription at the time of subscribing. aud
further payments hy instaln,mts or otherwise, and
penalties far n"n-raymcnt of any inSt'lmeni, AMI
also concerning the receipt, deposit. anu safe Keep
ing If money received from such subscriptions until
the same can he placed IN the possession oil OihclaI
repositories of the Treasury, law or laws 10 il'''
contrary Notwithstanding. And the Secretary Of
the Treasury is also authorized, he shall deem it
rXpedieMt. before opening books al subscription
above provided, To exchange for coin or pay for
public dues or for Treasury notes of the issue Of
twenty-tlIirl of December, eighteen hundred and
ffty-seyen and falling due on the thirteth of June,
Shtecn hundred and siNty-One, or for Treasury
notes issued and taken i'll exchange for such notes.
any amount of said Treasury notes for nifty dollars
or upwards not exceeding one hundred millions Of
dollars.
Sec l. And be it further enacted, That, before
awarding any portion of the loan i'll bonds author
lied by this the Secretary of the Treasury il he
deem it advisable to issue proposals for the same in
the Uuited States. shall give not less than fifteen
days public notice in two or more of the public
newspapers i'll the city OF Washington, and in suc
other places OF the United states as lie may deem
advisable. designating the amount Of such loan the
place and the time up to which sealed proposals will
be received for the same the periods for the payment
and the amount of each instalment in which 1t Is
to be paid AMI the penalty for the non-payment of
any suclI instruments and when and where such pro
pOsals shall be opened in the presence of such per-
as he may choose to attend; and the Secretary
Of the Treasury is authorized to accept the most ia
vOrabe proposals offered by responsible bidders
Provided, That offer shall lie accepted Mt less tnm
Sec. 5. And be it further enacted That the Score
tary of tho Treasury may. If he deem it advisable
negotiate any portion Of said loan. not exceeding
one hundred millions Of dollars, in any foreign cOun
try, and payable Mt any designated place, either in
the United States or in Europe, and may issue regis
tered or coupon bonds for the amount thus negoiu
ted agrecably to the provisions of this act bearing
interest payable seInannunlly, either in the United
States OF AZ any designated place in Europe; and hc
is further authorized to appoint such agent agents
rs lac may deem necessary for negotiating such loan
under his Instructions AMI for paying the interest
on the same, and TO fix the compensation of slic
agent agents, and shall prescribe them all the
rules regulations, and modes under which such loan
SHAH be negotiated, and shall have power to fix the
rate Of exchange Mt which the principal shall he re-
ceived from the contractors for the loan, and the
change for the payment of tho principal and inter
est in Europe shall be at the same rate
Sec. 9. And bc it further enacted, That whenever
any Treasury notes of denomination less thRn iRy
dollars authorized TO be issued by this act shall have
been redeemed the Secretary of the Treasury may
reissue the same. or may cancel them and issue
notes tn an equal amount: Provided, That the ng-
gregRto amount OF bonds and Treasury notes lssued
under the foregoing provisions of tis act shall
exceed the full amount authorized by the first
ton of this act; aud the power to issue reissue
such not esba and determine after tho thirty
first of December, eighteen hundred and siXty-two.
Sec. Z. And be it further enacted, That the Secrc
taCy of the Treasury is hereby authorized whenever
he shall deem It expcdient 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
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 secro-
tHry Of the Treasury shall report to Congress- imme
diatSly after the comm encement Of the next session.
the amount he has borrow ed under the provisions Of
this act, Of whom, and on what terms, with an Alb
sraot OF all the proposals, designating those that
have been accepted and those that have been rie't
ed, and the amount Of bonds or Treasury notes that
have been issued for the same, s..... .- ...
SEQ 9. And be it further enacted, That tho faith