Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-12-25
[PUBuc-No. 81
AN ACT to authorize National Loan and fOl
other purposes,

[PUBIc-No. 81
AN ACT to authorize u National Loan and for
other purposes.
Be it enacted by the Senutr aud House Of Repre-
rentatives Of the United states Of America in Con-
rres 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 Tie massage of this act, n sum not exceeding
two hundred and fifty millions OF dollars or SO much
thereof lie may deem necessary for the public ser
vice, for which he is authorized 10 issue coupon
bonds registered bonds Treasury notes, in such
proDortions of each he may dUenf adviSablei tlr
bonds bear interest exceeding seven per cent
per annum payable semiaunually, irreSleemuble Tor
enty years, and alter that period redeem"bIe at
the pleasure Of the United States; and tile Treasury
to be OF any denomination h&sd ny tie secr',
tary of the Treasury. not less than nifty dollars Ai
to be payable three years after date win lntersht
nj the Iatc ufseVen and tTeetsntis per centun per
Hnnun.. pnpaUIe semiHnnually. Aud the Secretary
If the Treasury may also issue In exchange for coin,
aud part Of the above loan, mny pay tor sanris
or other dues from the United States Treasury
OF less denomination than hity dollars not bearing
interest, but payable ON demand by the Assistant
TreasuTers OF the United states at Philadelphia New
York BOSTON, or Treasury notes bearing interest
at the rate Of three md sNtyANe hnndre'ltlls per
centum. payable in year from date and eNeh4If
abe aus time for Treasury notes for nifty dotins
RId upwai DIS. zsuUblc under tile authority oil thlS
net, and bearing interest specified nboyc Prnyi-
tlei Thut exchange OF such notes III any iCsH
amount than One hundred dollars shall be made at
any one time: And provided further That hO
Treasury notes shall bc Issued Of lees denomination
than ten dolIars, and that the Whole amount OF
Treasury notes, beHTug interest issued under the
authority Of this act, shnl not exceed my millions
sec, . And be It further enacted, That the TreH-
sury notes aud bonds issued under the provisions of
this act shall be signed bY the First or second Coup
troer or the RegsterOf the Treasury. aud counter
signed by such other officer officers Of the Treas
IiFy as tile Secretary Of the Treasury may designate;
md all such obligations of the denomination of fifty
dollars and upwards, shall be Issued under the seal
Of the Treasury Department. The registered bonds
shall lie transferable OIL the books OF the Treasury
on delivery of the certificate, and the coupon bonds
and Treasury shall be transferable on delivery
or persons. or exc, utCd In such nAnner as may be
designated by lie Secretary Of tue Treasury, who
shall fix the compensation for the same
Sec ). And be it further enncted That the Score.
tnry of tie Treasury shall cause books to be opened
for subscription the Treasury notes for ly dol
lara and upwards, at suC places as lie may designate
IN the United States and under such rules and reglI
lations he may prescribe, to be snperhtcnIed by
tI,o assi.tant tre res of The United states their
respective Localities and nj other places By such de-
Iostorips pOstmastsrS, aud other persons us lie may
Designate notice thereof beng given In at least two
daily papers of this city, and IN one or more public
newspapers published in tile several places Where
subscription books may beopened; and subscriptions
may desire subscribe amy law TO contrary not
withdrawing; aud If u larger amount shall De SUP
scribed ia the aggregate THANH required Vt one time
the Secretary ut the treasury IL authorized I" re-
ceive the same, should lie deem 1t advantageous I"
the public interest; aud If not lie shall accept the
amount required by giving the preference TO the
Treasury shall lN the cUmpen ations Of the public
oicer- others designated for receiving said sub
sctiptinns: Provided, That, for rforning this or
any other duty in connection with this act no cont
pensutOn for services rendered shall DC allowed "I
pad to any public officer whose salary Is established
by lnwi a. d tile secretary he Treasury may ais"
make EuclI other rules nr equations nh lie may
deem expedent touching thu inrtalment 70 be pail
on any subscription ut the time of subscribing ami
further payments by tnstanltn ts or ottTWi5e, anti
penalties for nOn-piyment of any instaiment, AMI
also concerning the receipt, deposit anu sac Keep
ing money received from such subscriptions until
tue same be placed in the possession Of official
IeDoSitories Of the Treasury, any law laws to tho
Notwithstanding. And the Secretary oil
the Treasury is also authorized, II lac shall deem IL
cNpcdient before opening books OF subscription as
above provided, IN exchange for coin or pay Tor
public dues or for Treasury notes Of the issue OF
twenty-third Of December, eighteen hundred and
fy-seYen, and 6IliinS due the thirtieth of June,
eighteen hundred and sixty-one, or for Treasury
notes issued and taken in exchange for such notes,
any amount Of said Treasury notes for htty dollars
OF upwards not exceeding one hundred millionsoi
Sec. l. And be 1t further enacted, That. before
awarding any portion of the loan in bonds author
lied by this act the Secretary OF the Treasury If lie
deem It advisable TO issue proposals for the same In
the Uulted States shall give not less than fifteen
flays' nnllic notice ia two or more of the public
newspapers in the city Of Washington, and in such
other places OF the United States as lie may deem
advisable designating the amount Of such loan, te
place and the time mp which sealed proposals. will
he received for the same, the periods the payment
and the amount of each instalnent In which If IL
TO be paid and the penalty for the nou-paynent OF
any euCh instruments aud when aud where such pTtl-
sons as he may choose to attend; and the Secretary
of the Treasury Is authorized to accept the most ia
YOTable prOpoSals offered by responsible bidders:
Provided That offer shall DO accepted ut less than
par.
tary OF the Treasury may, If he deem 1t advisable,
negotiate any portion or said loan, not exceeding
ono hundred millions Of dollars In any reign
try, and payable Mt any designated place, either IN
the U.ited States in Europe and may Issue regis
tered or coupon bonds for the amount tins negutiH-
ted ngreeably the provisions Of this act bearing
interest payable semannuallS, either IN the United
States any designated place in Europe; and lIC
is further authorized appoint huch agent agents
as he may deem necessary for negotiating such loan
under his Instructions, and for paying the Interest
agent or agents. and shal preseribs to them all the
rnles regulations and modes under Which such loan
shall be negotiated, and shall have power to FIX tile
rate Of exchange at which the principal shall be
ceived from the contractors for the O1u and the
change for the payment Of the principal and inter
est In Europe shall be at the same rate.
SEQ. Q. And be 1t further enacted. That whenever
any Treasury notes, Of denomination less than htY
dollars authorized TO he Issued by this act sha have
been redeemed. the Secretary of the Treasury mAS
reissue the or may cancel them and tEsue new
notes to an equal amountf Provided That the Rg-
Eregate amount of bonds and Treasury nOtes issup
under the foregoing provisions Of this act shall netet
exceed the fall amount authorized by the hrst
tlon OF this act; and the power to issue reissuo
Euch not sehal ceage md determine atterths thirty
first Of December, eighteen hundred and BXtI.tWo.
Sec Z. And be II further enacted, That the secrP-
tarT OF the Treasury IL hereby authorized whenever
hs shall deem Il o1peisnt, 70 issue In exchange for
coin or In payment for public dues Ire asury notes
OF any Of the denominations hefeinbsfoTe spechSl,
bearing interest mot exceeding six per eentum per
Rnnurn, and parable At any time not exceeding
twelve months from date provided that the amount
d notes % Issued or paid shall ss NO time G1cerl
twenty millions Of dciiars,
geo a. And be IL further snSrtBd, That the BscrC-