Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1861-07-30
[PUBLIC-NO. o.
AN ACTto authorize National Loan, and for 9th

congress
tPuBLIc-No. 81
AN ACTto authorize a National Loan, and for 9th
er purposes.
Re- :, enacted bv The Senate and House Of Representa-
,,s NJ tbs United States Of america Congress
ssn6led That the Secretary OF the treasury be and
the United States within twelve months from the
massage of this act, a sum not exceeding two hun
dred and fifty millions of dollars, much there
of as may be deemed necessary for the public SER
vice for which he is authorized to issue coupon
bonds, unregistered bonds or treasury notes. in such
proportions of each as he may deem advisable: the
bonds to bear interest not exceeding per CEN
tum per annum, pay able semi annually rredemable
for twenty years. and after that period redeemable
at the pleasure OF the United Staies aud the Urea
sury notes TO be of any denomination fixed by the
Secretary OF the Treasury. not less than fifty dollars
and to be payable three years after date with inter
est the rate of and three-tenths per centum
per annum, payable semi-annually. And the Sccre-
taTy Of the treasury may also issue in exchange for
coin, and as part OF the above loan may pay for
salaries or other dues from the United States, Urea
sury notes of less denomination than fifty dollars,
not bearing interest, but pay able demand by the
Assistant 1reasurers of the United States AT Phila
delphia. New ork, or Boston, or Treasury notes
bearing interest at the rate OF three and sixty-fve
hundredths per centum, payable in year from
date, and eXchangeable at any time for Treasury
notes for fifty dollars and upwards issuable under
the authority OF this act, and bearing interest as
specified above: Prorided, That no exchange of
such notes in any less amount than one hundred
dollars shall be made at any one time: And provided
further, That Treasury notes shall be issued of a
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 q And be 1t further enacted, That the Treasury
notes and bonds issued under the provisions of this
act shall be signed by the first or second comptrol
err the register of the treasury and countersigned
by such other officer officers OF the treasury as the
secretary of the treasury may designate; and all
such Obligations of the denomination of fifty dol
lars and upwards, shall be issued under the seal of
the treasury department. The registered bonds,
shall be transferable on the books OF the treasury
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 in such manner, as may be
designated by the secretary of the treasury, who
shall fix the compensation for the same.
Sec. g. And be 1t further enacted, That the secretary
OF the treasury shall cause books TO be opened for
subscription to the treasury notes Tor fifty dollars
and upwards, at such places he may designate in
the United States, and under such rules and regula-
tons as he may prescribe to be superintendent by
the assistant treasurers Of the United States their
respective localities and at other places by such de.
positares, postmasters and other persons he may
designate, notice thereof being given in least two
daily papers of this city, and in more public
newspapers published in the several places where
subscription books may be opened; and subscrp
tons for such notes may be received from all per-
sons who may desire to subscribe, any law to the
contrary notwithstanding; and il larger amount
shall be subscribed in the aggregate than is required
at one time, the secretary OF the treasury is author
lied to receive the should he deem it advana-
geous to the public interest," and il not, he shall
cept the amount required by giving the preference
the smaller subscriptions: and the SECRETARY OF the
treasury shall Xix the compensations of the public of
cers or others designated Tor receiving said subscrp-
tons: Provided, That for performing this any 9TH
er duty in connection with this act no compensation
for services rendered shall be allowed or paid to any
pupllc oihcer whose salary is established by law;
and the secretary of the treasury NAV also make
such other rules and regulations as he may deem ex-
pedlent touching the instament to be paid on any
subscription at tile time of subscribing and further
payments by instruments otherwise, and penal
ties for non-payment OF any instalment 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
oeposrares OF the treasury, any law laws 10 the
contrary notwithstanding: And the secretary of
the treasury is also authorized, ii he shall deem il
expedient, before opening books of subscription as
above provided, to exchange for coin or pay for
pubhc dues or Tor treasury notes of the issue of
twenty-third of December, eighteen hundred and
hfty-seyen, and failing due the thirtieth OF June
eighteen hundred and sixty-one, for treasury
notes issued and taken in exchange for such notes
any amount of said treasury notes, any amount OF
said treasury notes for fifty dollars or upwards not
exceeding one hundred millions of dollars
Sec A. And be it further enacted That before award
ing any portion OF the loan in bonds authorized by
this act the Secretary OF the Treasury if he deem
u advisable TO issue proposals for the same in the
United States shall give not less than fifteen days'
public notice in two or more of the public newspa-
pers IN the city OF Washington, and in such other
places OF the United States he may deem adyisa-
bic, designating the amount of such loan the place
and the time up to which sealed proposals will be
received for the same, the periods the PAYMENT
and the amount of each instalent in which Il 10
Ne pad, ana isss essy Tor the non. Icnt Of any
such instruments, and when and where such propo-
sails shall be opened in the presence such persons
may choose to attend; and the Secretary of the
Treasury authorized to accept the most favorable
proposals offered by responsible bidders: hocided,
That no offer shall be accepted at less than par
Sec 5. And be it further enacted That the Secretary
Of the Treasury may if 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 iu the
United States or in Europe and may issue registered
or cupon bonds for the amount thus negotiated
O apf in
terest payable seni-annually, either in the United
States or any designated place in Europe and he is
further authorized TO appoint such agent agents
as he may deem necessary for negotiating such loan
under his instructions, and for paying the interest
on the same, and to ilX the compensation of such
agent or agents, and shall prescribe to them all the
rules, regulations and modes under @.Fhieh such
loan shall be negotiated, and shall have power to fix
the rate of exchange at which the principal shall be
received from the contractors for the loan and the
exchange for the payment of the principal and in
terest in Europe shall be at the same rate
SEQ. g. And be 1t further enacted That whenever
any Treasury notes, of denomination less than
fifty 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 is
sue new notes to an equal amount: Provided, 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 first section of this act and the power issue
or reissue such notes shall cease and determine after
the thirty first of December eighteen hundred and
sixty-two.
SEc. !. And be it further enacted, That the Secretary
shall deem it expedient, to issue in exchange for
coin, or in payment Tor nubc dues, Treasury notes
of any OF the denominations hereinbefore specified
bearing interest not exceeding six per ceninm per
annum, and payable at any time not exceeding
twelve months from date providing that the amount
OF notes SO issued or paid shall at no time exceed
twenty millions of dollars.
SEC. g. And be further enacted, That the Secretary
of the Treasury shall report to Congress, immedi-
diately 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 Treasury notes
that have been issued for the same.
SEQ g. And be u further enacted That the faith
pledged for the payment the interest and redemn-
ton of the principal of the loan authorized by this
act.
SEC. TO- And be il further enacted, That all the pro-
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-seven
far as the same can may be applied to the pro
visions Of this act and not inconsistent Herewith
are hereby revived or re-enacted
SEC. IL. And be it further enacted That to defray
all the expenses that may attend the execution Of
this act, the sum Of two hundred Thousand dollars
or SO much thereof 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, 1851
[PUBLIc-No. 81
AN ACT making additional appropriations for tn,
support of the army for the fiscal wear endinf
June thirtieth, eighteen hundred and sixty-two
and appropriations OF arrearages for the fiscal yea
ending June thirtieth, eighteen hundred and sixty
one.
BE it enacted by the Senate and House Of Representa-
tires Of the United States Of america Congress as
semtlsd, That the following sums be and the SAM
are hereby appropriated, out of any money in tn,
Treasury, not otherwise appropriated, for the sup
port Of the army for the year ending the thrtieth
June, eighteen hundred and sixty-two.
For expenses of recruiting, transportation of re
cruits from the different rendezvous to general de
POTS procuring OF medical attendance, and all othe
sand Two hundred and eighty-iive men, to be organ
lied into nine regiments of infantry, regimen