Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-08-26

nHntbs after tho cxpIatiIn OF the present insurrec
tion the corps Of paymAsters and assistant paymas
tiers shall be rednced to thc nunDeI Oh seNei'!-LNe
approved, July Il, 1851.
[PUBLc-No. 81
AN ACT to authorize National Loan and for
other purposes.
De it enacted by the Senate and HouFc of Repre-
SentNtives Of the United States of America in Con-
rF. assem- bIed That the Secretary Of the Treasury
be and he il hereby authorized to- borrow, IN the
credit Of the Unted States, within twelve months
from the passage OF this act, sum not exceeding
two hundred and nifty millions of dollars. or SO much
thereof as lie may deem necessary for the public SER
vice, for which he Is authorized to Issue coupon
boudS. registered bonds Treasury notes in such
proportions of each as he may deem adVtSRblei the
bonds to bear interest not exceeding seven per cent
per annun. payable Semi-anuuHlly, irredeemRble for
twenty years, and after that period TCdeemRble ut
the pleasure of the United States: and the Treasury
notes TO be Of any denomination fixed by the Secre-
taTy Of the Treasury rot less than nifty dollars and
to payable three years after date, with interest
the Of seven and thrcetenths per ccntum per
annunl. papHbe semi-annually. And the Secretary
Of the Treasury also Issue in exchange for coin
and part of the above loan may pay for salaries
CT other dues from the United States Treasury notes
of less denomination than fifty dollars, not bearing
interest, but payable OH demand by the Assistant
TreasuTers Of the United States NJ Philadelphia New
York Boston, or Treasury notes bearing interest
at the rate of three and siXty-tve hundredths per
centum, payable in year from date, and eNchnng-
able at any time for Treasury notes Tor nifty dollars
aud upwards, i=5unblO under the authority OF this
act, and bearing interest as specified above: PTovi-
dcd, That no exchange OF such notes IN any less
amount than one hundred dollars shall be made nt
any one time: Aud provided further, That no
Treasury notes shall lie sued Of less denomination
than ten dollars, and that the whole amount OF
Treasury notes. bearing interest Issued under the
authority Of this act shall not exceed fifty millions
Of dollars.
Sec. 2 And be it further enacted, That the Trea-
sIry notes and bonds issued under the provisions Of
this act shall be signed by the First Second Comp
troer or the Register of the Treasury, and counter
GuCh other officer officers OF the Treas
ury the Secretary of the Treasury may designate;
aud all such obligations OF the denomination Of nifty
dears and upwards, shall be issued under the seal
of the Treasury Department. The registered bonds
sli4ll transferable the books Of the Treasury
delivery of the certificate and the coupon bonds
and Treasury notes shall be transferable on delivery
The interest coupons may be signed by such person
or persons, or executed in such manner. MS may be
designated by the Secretary of the Treasury, who
shall FIX the compensation for the same
Sec 3. And De 1t further enacted, That the Secre-
tary Of the Treasury shall cause books to be opened
for subscription the Treasury notes for nifty dol
lars and upwards at such places ns he may designate
in the United States and under such rules and rceu-
lati5nA he may prescribe. to be supeTlnteHded by
the assistant Of the United states AT their
respective localities, and at other places by such de
p0sitories postnasteTB and other persons as he may
designate, notice thereof being given in nj least Two
daily papers Of this city, and in or more public
newspapers published in the several places where
subscription bo0kslnay heopened; and subscriptions
for such may he received from all persons who
may desire subscribe any law TO the contrary not
Withstanding; and If larger amount shall be sub
ECrbed in the aggregate than required NJ one time
the Secretary of the Treasury is authorized TO re-
ceive the same should he deem it advantageous Is
the public interest; and If not, he shall accept the
amount required by giving the preference 10 the
smaller subscriptions; and the Secretary of the
Treasury shall fix tho Compeusations OF the public
officers others designated for receiving said sub
scrptons: Provided, That, for Performing this or
any other duty in connection with this act, no COM
pcnsaIton for services rendered shall be allowed or
paid any public officer whose salary is established
hy Laws aud the Secretary OF the Treasury may also
make such other rules and regulations ms he may
deem expedient touching the instnlment To be paid
on any subscription at the time OF subscribing, and
further payments by instalm,nts otherwise, and
penalties for nonpIyment Of any instalnIent and
also concerning the receipt, deposit and safe keep
ing Of money received from such subscriptions, until
the same be placed in the possession Of official
repositories Of the Treasury any law laws to the
contrary Notwithstanding. And the Secretary Of
the Treasury is also authorized II he shall deem 1t
eXpedent, before opening books OF subscription as
above provided, to exchange for coin or pay for
public dues for Treasury nOteE OF tile issue OF
twenty-third of December, eighteen hundred and
ffy-seven, and falling due the thirtieth Of June,
ghteeh hundred and sixty-one, or for Treasury
issued and taken in exchange for such notes
my amount Of said Treasury notes for fry dollars
or upwards not exceeding one hundred millions Of
dollars.
sec {. And he it further enacted, That, before
awarding any portion of the loan in bonds author
lied by this the Secretary Of the Treasury If he
deem II advisable TO issue proposals Tor tho same IN
the Uuited States, shall give not less than fifteen
days public notice i'll two or more Of the public
newspapers in the city of Washington, aud In such
other places of the United States as he may deem
advisable designating the amount of such loan the
place and the time up to which sealed proposals will
he received for the same the periods for the payment
and the amount Of each instalment in which 1t Is
to be paid, and the penalty for the noU-payment OF
any such instruments and when 'nd where such pro
posAls shall be opened in the presence OF such per-
sons he may choose to attend; and the Secretary
Of the Treasury is authorized to accept the most fa
Vorable proposals. offered by responsible bidders
Provided That offer shall be accepted at less than
par.
Sec g. And be it further enacted, That the secre-
tor n 1n ndv
( negotiate any portion of said loan, not exceeding
hundred millions Of dollars in any foreign coun-
try and payable at any designated place, either in
the United States in Europe, and may issue regis
tered coupon bonds for the amount thus negotia-
ted agreelbIy to the provisions OF this act bearing
interest payable seIniannuRly either in the United
States at any designated place in Europe; and he
is further authorized to appoint such agent or agents
AS he may deem necessary for negotiating sucl, 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 all 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
ceived from the contractors for the loan and the OK
change for the payment of the principal and inter
est in Europe shall be ut the same rate.
Sec G. And be it further enacted, That whenever
any Treasury noteR Of a denomination less than Ely
dollars authorized to LO Issued by this act shall have
been redeemed, the Secretary Of tho Treasury may
reissue tho same, may cancel them and issue new
notes to an equal amount: Provided, That the hg-
gregate amount Of bonds and Treasury notes issued
under the foregoing provisions Of this act shall never
exceed the full amount authorized by the first sec
tion Of this act; and the power to issue reissue
such moi shall and determine after the thirty
hrst Of December, eighteen hundred and Sixty-two.
Sec. z. And be It further enacted, That the Score
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 herenbefore specified
bearing interest not exceeding ak per centum per
annum, and payable at any time no; exceeding
twelve months from date, provided that the amount
Of notes issued or paid shall at no time exceed
twenty millions Of dollars.
Sec 8. Aud be II further enacted, That the SecrO-
tary Of the Treasury shall report to Congress, inme
iAtSly 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 alb
stract Of all the proposals., designating those that
have been accepted and those that have been ree T.
ed, and the amount Of bonds Treasury notes that
have been Issued for the same.
Sex 9. And be Il further enacted, That the faith