Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-09-02


tion the corps Of paymasters and assistant payaas
tiers shall be reduced to the number oil seVentSnNe
III the whole. .
Approved, July II, 1861.
CPUBuo-No. 81
AN ACT to authorize a National Loan and for
other purposes.
he il enacted by the Senate and House of Repre-
gentatiyes Of the United States of America in Con-
grcss assembled That the Secretary Of the Treasury
be and he is hereby authorized to borrow, on 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 so much
thereof he may deem necessary Tor the pubic ser
vice, for which he is authorized TO issue coupon
bonds registered bonds Treasury notes IN such
proportions of each as he may deem advisable; the
bonds bear interest not exceeding seven per cent
per annum, payable semi-anuually, irredeemable for
twenty years. and after that period redeemabIe at
the pleasure of the United States; and the Treasury
notes to be of any denomination fixed by the Score
tary the Treasury, Eot less than nifty dollars, and
to be payable three years after date with interest
at the rate 0fscven and threetenths per centun per
annun, payable semi-annualIy: And the secretary
of the Treasury may also issue in exchange Tor coI
and AZ part the above loan may pay tor SALARIES
other dues from the United states. Treasury notes
Of less denomination than nifty dollars not bearing
interest, bur payable on demand by the Assistant
Treasurers of the United States at Philadelphia, New
York OF Boston, or Treasury notes bearing interest
at the rate Of three and siNty-hve huudredtls per
centun, payable III year from date. ana eNchaug-
able at any time for Treasury notes Tor hy dollars
and upwards. issuaDle under the authority oil TINS
act and bearing interest specified above: PTpvl-
ded. That exchange Of such notes in any less
amount than one hundred dollars shall be nuiie ut
any one time: And provided further, That
Treasury notes shall lie issued Of less denomination
than ten dollars, and that the whole amount Of
Treasury notes not 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 Trcl-
sury aud bonds issued under the provisions Of
this shall be signed Icy the First OF Second Coup
troIIer TIE Register Of the Treasury and counter
signed by such other officer officers Of the Treas
ury the Secretary Of the Treasury may designate;
and all such obligations. OF the denomination ci hiTy
dollars and upwarGs sha! be issued under the seal
Of the Treasury Department The registered bonds
shall be transferable the books of the Treasury
delivery Of the certificate. and the coupon bonds
aud Treasury notes slfI he transferable on delivery.
The interest coupons may be igned by such person
or persons. utsd IN such manner. a. may be
designated by the Secretary Of the Treasury who
shall TX the compensation for the same.
Sec 3. Aud be 1t further enacted, That the Score.
tary Of the Treasury sLa!l cause books TO be opened
Tor suIsCfiI;IuT to fe Treasury lio;es for fifty dol
lars and upwards. at such places a. he may designate
ia the United States aud under such rules and regu-
latiOs a. lie may IIescTIbc Ia be sUperintenned by
the assistant reauyer= Of tile United states at their
respective localities and at other places by such tie
postories, IostmsteTs, and other persons lac may
Designate motto. thereof being given i'll at least two
daily papers of this city. ana IN one or more PuDhc
newspapers published in the several places where
subscription bGoksmay bcopcned; and subscriptions
for such uofs may lee received from all per>ons WHO
may desire subscribe, any law to the contrary not
withstanding; aud if larger amount shall lie sub
sCTibe i'll the 1reGate than required at one time
criyc the same, should he deem it advantageous to
tie public interest; and if not. lie shall accept the
amount required Icy giving the preference 10 the
smaller subscriptions and the Secretary of the
Treasury shall fix the Compcnsations Of the public
officers others designated for receiving said sub
ecriptions: Provided. That, FOR performing this or
any other duty i'll COHucNiOn with this act. Hp COLI
IcI-atiun for services rendered shall be allowed or
paid to any public ucer whose salary is established
10y law: AID the Secretary Of the Treasury may alsO
make such other ruies and regulations as he may
deem cNp.dient touching the inNialmcnt 10 be paid
any subscription ut the time Of subscribing. and
further payments by instalmCnts or otherwise, and
penalties for noupaymcnt Of any instalment, 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 10 the
contrary notwiths landing And the Secretary of
the Treasury is also authorized, ii lac shall deem II
eXpedicnt, before opening books OF subscription a
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
iity-scvcn and falling due on the thirtcth of June.
eighteen hundred and siXty-one. or for Treasury
notes issued and taken in exchange Tor such not es
any amou"t of said Treasury notes for fifty dollars
or upwards not exceeding one hundred millions of
dollars.
: Sec. 4. And be it further enacted That, before
awarding any portion Of the loan in bonds author
lied by this act the Secretary of the Treasury if he
deem il advisable TO issue proposals for the same in
the Uuited States shall give not less than fifteen
days public notice in two more of the public
newspapers in the city of Washington, and 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
be received for the the periods for the payment
and the amount Of each instalment in which il is
to be paid, and the penalty for the nOHpayment of
any such instruments and when and where such pro-
posHls 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
vorable proposals offered by responsible bidders :
Provided, That offer shall be accepted at less than
par.
Sec. 5. And be it further enacted That the Score
tary of the Treasury may if he deem it advisable,
negotiate any portion Of said loan. not exceeding
hundred millions of dollars, in any foreign coun-
try, and payable Mt any designated place, either in
the United States in Europe, and may issue regis
tered coupon bonds for the amount Thus nrgotia-
ted agreeaby to the provisions of this act bearing
interest payable semiannuay, either in the United
States at any designated place in Europe; and he
s 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 fix the compensation of such
agent agents, and shall prescribe 10 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 re-
ceived from the contractors for the loan and the
change for the payment of the principal and inter
/ est in Europe shall be at the same rate.
| Sec. 6. And be 1t further enacted, That whenever
nny Treasury notes, of denomination less than fly
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 new
notes to an equal amount: Provided, That the ag-
gregntc 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 not shall and determine after the thirty
| first Of December, eighteen hundred and siXty-two
Sec. .. And be it further enacted, That tho Secrc
tary of the Treasury is hereby authorized whenever
he shall doom il eXpedient 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 so issued or paid shall at no time exceed
| twenty millions of dollars.
Sec. s. And be it further enacted That the secre-
tary of the Treasury shall report TO Congress imme
diatuy after the commencement of the next session.
the amount he has borrowed under the provisions of
this act, of whom, and what terms, with an alb
stract Of all the proposals. designating those that
have been accepted and those that have been reject
ed and the amount of bonds or Treasury notes that