Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1861-07-31
a0lOrfester 4ailp Syn,
LAWS OF THE UNITED STATES,
Passed at the First Session of the Thirty4eventl
~@' Congress
[PuBLIc-No. 81

(PuBLIc-No. 81
AN ACT to authorize National Loan, and for 9TH
er purposes.
Be it enacted By The Senate and House Of Representa-
fires of the United States OF nae'1ca, IN Congress
fr,abied That the Secretary of the Treasury be ana
he Is hereby authorized to borrow, the credit of
the United States, within twelve months from the
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
hond or registered bonds or treasury notes in such
of each as he may deem advisable; the
bonds to bear interest not exceeding per
tum per annum, payable semi annually, irIedemabe
for twenty years, and after that period redeemabe
at the pleasure of the United States aud the TTea
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 seven and threetenths per cenum
per annum. payable senlianhually. And the SecIe-
tay of the treasury may also issue i'll exchange Tor
COIN and as part OF the above loan, may pay for
salaries other dues from the United States, Urea
sury notes of less denomination than fifty dollars
not bearing interest, but payable on demand by the
Assistant Ireasurers of the United States at Pha-
deIpha. New York, or Boston, or Treasury notes
bearing interest at the rate three and sixty-tve
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
specified above; POuided, That no exchange OF
such notes in any less amount than one hundred
dollars shall be made at any one tme And preceded
further, That no Treasury notes shall be issued of
less denomination than ten dollars and that the
whole amount of Treasury notes, not bearing inter-
est issued underth authority of this act, shall not
exceed fifty millions OF dollars.
Sec 2, And be it further enacted That the Treasury
notes and bonds issued under the provisions OF this
act shall be signed by the first or second comptro-
er, the register OF the treasury and countersgned
by such other officer officers of the treasury the
secretary of the treasury may designate; and all
such obligations, of the denomination of fifty dol
lars aud upwards, shall be issued under the seal of
the treasury department. The registered bonds
shall be transferable on the books OF the treasury on
the delivery OF the certificate and the coupon bonds
and treasury notes shall be transferable by delivery
The interest coupons may be signed by such person
persons, executed in such manner, may be
designated by the secretary of the treasury, who
shall fix the compensation for the same.
Sec 8. A1d be a 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 regula-
tions as he may prescribe, to be superintendent by
the assistant treasuels Of the United States at their
respective localities and at other places by such de-
postaries postmasters, and other persons he may
Designate notice thereof being given i'll at least
daily papers of this city, and in more public
newspapers published in the several places where
subscription books may be opened; and Nsubscrip
tons for such notes may be received from all per-
sons who may desire to subscribe, any law to the
contrary notwithstanding; and if larger amount
shall be subscribed in the aggregate than required
at one time the secretary OF the treasury is author
lied to receive the same. should he deem it advana
geous to the public interest," and il not he shall
cept the amount required by giving the preference TO
treasury shall fix the cOmpensaons of the public Of
fcers Others designated Tor receiving said subscrip
tons: Provided, That for performing this any 9TH
er duty in connection with this act compensation
orservices rendered shall be allowed or paid any
public officer whose salary is established by law;
and the secretary of the treasury may also make
such other rules and regulations as he may deem
pedient touching the instalment TO be paid on any
subscription at the time Of subscribing and further
payments by instruments or otherwise, and penal
ties Tor nOn-payment OF any instalment, and also
concerning the receipt, deposit and safe keeping of
money received from such subscriptions, until the
can be placed in the possession of the official
depositares of the treasury, any law laws TO the
contrary Notwithstanding. And the secretary of
the treasury is also authorized, if he shall deem it
expedient, 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 third of December, eighteen hundred and
tty-seyen, and falling due the thirtieh 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 ii further enacted, That before award
ing any portion the loan in bonds authorized by
this act the Secretary of the Treasury if he deem
it advisable to issue proposals for the same in the
United States, shall give not less than fifteen days
public notice in two more of the public newspa-
pers in the city of Washington, and in such other
places OF the United States as he may deem advsa-
ble 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 it to
be paid and the penalty for the non payment OF any
such instaments, and when and where such propo-
sails shall be opened in the presence of such persons
as may choose to attend; and the Secretary of the
Treasury is authorized TO accept the most favorable
proposals offered by responsible bidders Proris5z
That no offer shall be accepted at less than VIZ
Sec. B. And be u Further enacted, That the Secretary
~ treasury may, if he deem il advisable nego-
Liate 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,
agreeably to the provisions of this act bearing in
terest payable semi-annually either in the United
States or 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 the compensation of such
agent agents, and shall prescribe to them ali the
rules, regulations, and modes under which 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 tor the loan and the
exchange for the payment of the principal and in
terest in Europe shall be at the same rate
SEC o. And be II 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 to issue
reissue such noes shall cease and determine after
the thirty first of December, eighteen hundred and
sixty-two 7
SEC. T. And be it further enacted That the Secretary
of the Treasury is hereby authorized, whenever he
shall deem it expedient, to issue in exchange for
coin, or in payment Tor public dues Treasury notes
of any OF the denominations hereinbetoIe 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 paid shall ut no time exceed
twenty millions of dollars
SEC. g. And be II further enacted That the Secretarv
Of the Treasury shall report to Congress immedi.
diatey after the commencement of the next session.
the amount he has borrowed under the provisions
N. nm hat .,.el
abstract of all the proposals. designating those that
have been accepted, and those that have been reec
teo, ana me amount Of bonds or Treasury notes
SEC D. And be at further enacted, That the faith
Of the g United States is hereby solemnly
pledged for the payment OF the interest and redemp
ton OF the principal Of the loan authorized by this
act
SEQ. TO- And be il further enacted That all the nro
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,
so far as the same may be applied to the pro-
visions of this act and inconsistent Herewith
are hereby revived or re-enacted.
SEC. IL. And be IL 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 as may be necessary be and the
same hereby appropriated, to be paid out Of any
Approved, July II, 1861.
[PUBLIc-No 81
AN ACT making additional appropriations for the
support of the army for the fiscal wear ending
June thirtietb, eighteen hundred and sixtv-fyyoe
and appropriations OF arrearages for the fiscal wear
ending june thiftieth eighteen hundred and sixty
-
Be f enacted BY the Senate and House of Representa-
fices Of The United States Of America IN. Congress as
seDabled, That the following sums be and the same
are hereby appropriated, out of any money in the
Treasury, not otherwise appropriated for the sun
port of the army for the year ending the threth Of
June, eighteen hundred and sixty-two
For expenses Of recruiting transportation of re-
cruts from the different rendezvous to general de-
pots, procuring of medical attendance and all other
expenses attending the raising of twenty-four thou
lied into nine regiments Of infantry, one regiment
cau alr,ta md ln1aa IL