The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1861-08-14

That the -ecreaTy al the Treasury be ard 10" J. hereby
authorized 10 borrow credit OF the United States
within twelve months from the passage Of this act SUN
not exceeding two hundred and lig millions OF dollars,
much thereof as be may deem necessary fo- the
public service, for which he Is authorized 20 issue coupon
bonis, registered bonds treasury notes, III such
proportions II each as Lie may deem advisable The SO1t>
10 bear interest hot exceeding per cent per aunum
payable semi annually redeomabie for twenty years,
anu after that period mabe at the pleasure IL the
United states the Treasury be Of any Ce
nomination fixed by tne Secretary of the Treasury, hot
less than Aity dollars, and 10 be payable three years al
ter date, with interest at the rate Of seven and three
euths per ceHttm per annuin. payable semi GIhuaiN.-
And the Secretary o the IresUT may also issue Ia *
change for coin ard part the above loan, o" may
pay salaries other from the United states,
Treasury notes of a denomination than MY Collars,
not bearing interest but payable on demand by tLe rs
istan Treasurers OF the United States at Philadelphia
New York Boston or Treasury notes bearing interest
al the OF three and sixty five hundredths per cent
am, pay able in year from cate, aAd g, Manageable at
any lime FOR Treasury for hiiy dollars and up
wards issGabe under the authority Of THIS act, and
bearing interest specified above: PTosided That no
exchange OF such notes any less amount than one nun
dret dollars shall be nsde at any one time: Ana fgorta
~ further That EO Treasury notes shall be issued Of
less denomination than ten dollars. ant that the whole
amount OF Treasury notes Rot bearing interest, issued
under the authority OF THIS act. shah Lot exceed lily
millions Of dollars.
sec . and he At furlGer oHaclsd That the Treasury
and bonds issued under the PROVISIONS o tins act
shall be signed 10y the Firstor sooond, ,om'toer or TN
Register II the Treasury and COGnjvrsghe ~ stC 9th
er officer or officers of the Treasury as the secretary oi
the Treasury may designate and all such obiiSt oi
The denomination Of hity dollars and upN"rar- snail uc
issued the seal ol the Treasury department. Iho
registered bonds shall he transferable ou the BOOKS Z" Tia
Treasury delivery the certificate and t.e ,CuPUu
bonds and Treasury notes shall be transferable by Gcl
ery The interest coupons may be signed by such per
SOFA persons, or executed IN such Hiluuer may be
d ruated by the Secretary OF the Treasury who shall
lX TIA comp u,ation Tor the
Sec. And De Jartsr enacted, That the Secretary 81
the Treasury shall cause hooks toh opened for s'scr-
tioa to the Treasury for hy dollars aud ufwaros,
at such places ne may designate in t. United states,
and under sucn rules anu regulations IS he H'y pre-
scribe to br super tended by the tt tr-fcfs Oi
the United states al their respective localities and II
other places 10y such epOSitdrie, UsimI-tcrs, and OH
cr he may designate. notice thereof Being CIV
cn IN t least wo daily papers o ti~ city. and IA one or
more public newspapers published IA tn several places
where subscription hooks may be opened: and SHlscT
irons Tor such notes may be received from All persons
who may desire to subscribe, any law 10 t,e contrary
notw wi'h-;an;.ng and II larger amount shall b. sub
sCrbcd IN the ggr gate tn Is reulruia II one time, the
secretary O the Treasury is authorized To receive tia
aiuc should he deem II advantageous 10 the public IN
r'-t and II not he shall accept tiIc amount required
by giving tAc preference the smaller Subscriptions
anj the secretary Oi the Treasury sla N Tia. comp
stnns al the public officers Others dies. gatcj for
vgiyiug said subscriptions: Troritrf That, tor perform
Ing tins any other duty ia cunu"X0n with thr act
compensation for services rendered shall hr allowed
as u any public officer whose salary i established by
law" ahi the secretary oI the Treasury M! "-p maxi
such other rules and regulations Ia may dccm cNrt,I
ent touching the nstalment to be paid on amy snScriir
ll"n M tle nro SUBSCRIBING an" iuIt'r iUS I'l' hN
instruments Otherwise, and penalties for non y nct
any stalmcnt, an also concerning lhc receipt. dc
po-it and SAT" keeping ul money received from ~c sub
scripons, until the Toe placed in the possession
of Ocil dcuusitrcS ui the Treasury. Law Laws
10 the contrary nowitlstand!ug And the ~.rrrlry al
the Treasury also authorized If hc shall deem 1t c
dicnt, before opening boOS- Ul subscription above
provided, 70 exchange for coin pay Tor Pblir dHa-
Treasury oi the CT twenty third ol nc
cem'cr, eighteen hundred and tlty.Seytn, AMI failing
due the thirtir of june eighteen hundred and sixty
one, or Tor Treasury notes issued anu taken N exchange
Tor such notes any amount OF sahi Treasury roi'S for
ity dollars or upwards not exceeding one hundred m
lions Ct dollars.
sec /. Asd BE- Il ftrib.T eadried That before award
| hplitS hE
act the Secretary cr The Treasury il h. deem 10 .yii
= ble to issue proposals lnr the sans. in the Iaicl States,
shall give not less than fifteen days pubic notice in two
or more OF the public newspapers in a." city Of Wash
inon. and in such other places of the United states
ic may deem advisable, dcs sgn1tng the amount OF such
loan, the place and the time up to which sealed proposals
viii be received for the thc periods lur the pay
mcnt, and the Of each as,lncnt u which it is
To pc inid and the penalty Tor the non payment o any
such mStalmentS, and when AMI where sch proposals
shall he Opened in the presence oi such persons a c
may cOusc 10 attend; and the Secretary of the Treasury
Is authorized 10 accept the favorable prup,s
fcTcd hy responsible bidders: PTori&'d. That Offer
shall be accepted al less than per.
3. Ind b. IL further enGcted, That The Secretary ii
the Treasury may lac deem il advisable u,.utgtr any
portion OF Sii loan not exceeding one hundred millions
OF doars in any foreign country, and payable at any
designated place either in the United States or in E
rope ana may issue registered COUPON bonds Tor the
s amount thus negotiated agrceahly to ii provisions o
this act bearing interest payable semi annually either
IN the United States any designated place Europe
and lac is further authorized To appoint such agent
agents he may deem necessary Tor negotiating such
loan under his Instructions AID paving the interest
on the same and Ia fix the compensation of such agent
agents and shall prescribe To them all the rules
ulltions and modes under which such loan shall h"
gotacd and shall have power To fix the of cXcang,
y, at which the principal shall be received from the
tractors for the loan, and the exchange for the payment
Of the principal and interest in Europe shall hc 1t th
| same
Sec. D. Ind be At further eraciel, That whenever any
Treasury notes, Of denomination less than !ty dollars
authorized o hc issued by this act shah have been
deemed, the secretary of the Treasury my reissue Tn,
same, may cancel them and issue now notes to an
O.IIl i'FCrifI That Il. %
bonds and Treasury notes issued under The forcgonl
provisions Of this shall exceed the fun
authorized by the first of this act aud the power
to ssu" or reissue such notes shall ccS" AMI determine
after the thirty first of December, eighteen hundred
siXty-two.
Sec. J. Ind BE- d further enal That the Secretary q
the Treasury Is hereby authorized, Whenever hc slal
deem expclicnt, to issue in cNci1ugc for coin,
g. payment Of public dues. Treasury notes Of any OF th
denominations hercnbelOre specified -aring inter,
exceeding SIX per cCntUm per Jnnum ul pay able
time not exceeding twelve months from date provide
that the amount OF notes issued paid shall at
,, time exceed twenty millions of dollars.
Sec. s. And D. further cncc'@f That the Secretary
the Treasury shall report To- Congress. mm,iitriy
commencement Of the Session tn, amount hr h1
borrowed under the provisions OF tins act e! whom.
on what terms, with an abstract OF al The proposals
designating those that have been accepted and those TIA
have been rejected, aud tin amount bonds IrCsu
| ~ notes thai have been issued for tll" samc
Sec. O. Ind BE- further .Enctsd That the faith Of tn
United states is hereby SolcmHy pledged ur te pay
ncnt Of the interest and redemption Of the principal
| the loan authorized by this
SEC. 10. Ind b. further enacted That AL the proVis
= ions Of the act entitled An act to authorize tc issue
| Treasury notes, approved the 2.l day ot necombcY
1877, So far as the sumo cln or my De- applied to ii
provisions of this act, and not inconsistent thrr.wi
| are hereby revived rc-eIslctci.
e See. II. iH' b futEer enacted Tint TO ,,ccr5y d
tn expense that my attend ti 'cItlon "i hi ;c
the sum ot two hundred thousand dollars. n4r
thereof a. may be Necessary, he and t' Is horl
appropriated to b. paid ou OF any money in the Irc-
ury not otherwise appropriated.
:. Approved, July Il, 1>6l
=
IN lpVEIIC-NO. 6