Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-11-02
proved, July IL, 1861.
IprpLrc-No. 81

Approved, July IL, 1861.
IPUBuc-No. 81
AN ACT to authorize National Loan and for
other purposes.
BE it enacted by the Senate and House of Repre-
EentAtiVes If the United States of America IN Con-
grcs assembled That the Secretary OF the Treasury
| Ge aud he ia hereby authorized to borrow, on the
credit Of the United States, within twelve months
from the passage Of this act, sum not exceeding
w hundred and nifty millions OF dollars or so much
thereof he may deem necessary for the pubic ser
vice for which lac is authorized 10 issue coupon
bonds or registered bonds OF Treasury notes. III such
proportions of each he may deem advisable: the
ini- To bsar interest not exceeding seven per cent.
TX: aunlrrl. ayae semanIin ally- irreeeLlate Tor
twenty yeas, and after thaI period redce:nat- al
the pleasure the United states; and the Treasury
notes 10 be Of any denomination fixed bS the Score
tary Of the Treasury. no: less than nifty dollars and
TO- be PAYABLE three years after date. with Interest
;hG rItt Of seven and thEeeie!t's Per centum per
anHjil:, paFable seusi-aIuTally Ana Ire secretary
1 tn. Treasury inal also issue in exchange for COIN
AMI a. Part the above loan may pay TOR salaries
other dues from ;he CHitci states. Treasury UutCs
~ les iynniuati thar fitty dollars not bearing
interest. but payable demand by tn" Assistant
Tre.urers If The United S;f;es NJ Philadelphia New
ECsS Boston, or Treasury notes beHTinS interest
az the rate 81 three sui =iNtytive huudredtns per
,cutum. pay able 10 year from date. ana exc ltIg
abe II any time Tor Tres Jury notes tor nifty dollai-
and upwsids. i>suabl under she authority o. this
net ami bearing interest specific; above: Prnv-
tied That no exchange Of such note IN any less
ai..ount than one hundred dollars snail lie made al
any uI,y time AuG provided further. hat 40
TTeasuT5 note sll! ie issued ui !yss den elimination
ilGlu lei, dollars, and that tie whole amount Of
re,ury notes. hesGrins interest issued under the
authority Of this ACT snail not exceed mtg millions
Ell dollars.
Sc. , And Ice j, further enacted. That the Tre1-
-ry and bOHde issued under the provisions Of
tins shall ie sLed 10y the First or second Comp
tryiItr the esier Of the Treasury aia counter
signed bv such other oiii1er or officers Of The Treas
ury secretary Of the Treasury may ,!cziSuate
aud all sue obligations Of the denomination OF nifty
dollars ana upwards. shall he Issued under the seal
Of the Treasury Department The registered bonds
shall be transferable the books of the Treasury
on delivery " the certificate, anu the coupon bonds
and Treasury Utes shall b. transferable delivery.
Tie interest coupons may he signed by such person
,r uersuus or exc uttd in such manner. may b.
designated by the Secretary Of the Treasury. WHO
shall fix the compensation for til" sane
Sec. g. And be it further enacted, That the Score
tIry Of the Treasury shall books to be opened
f'r subscription to tie Treasury notes for my dol
lars aud upwards, such places Ii" may designate
ia the United States. and under such rules aud ree
IhiiOns lac may prescribe TO he supeiihlehdetl by
the assistant treasures Of the United States at their
respective localities and ri other places 10y such do
IO4iIOTes pgstmasIuT- and other persons as lie may
designate. thereof Icing given in at least tao
daily papers Of this city, and in more public
ueEsuaIsTs published in the several places HhuIc
Gubscriptiou books may beupene; and subscriptions
for such notes may he received from all persons VII"
may desire TO subscriBc any law to the contrary not
wiIIstanding; and if a larger amount shall be sub
scribed IN the aggregate than l. required at one time,
the Secretary Of the Treasury is authorized to re-
ceivs the same, should Ie deem it advantageous to
tile 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 NIX the compen "iInis Ci the pubnc
officers others designated Tor receiving said sub
srriptions: Provided, That for performing this or
any other duty in counexiOn with this act, no COM
pensation for services rendered shall be allowed
paid any public officer whose salary is established
10y law; aud the Secretary & he Treasury may also
deem expedient touching th, instalnent to he paid
on any subscription at the time of subscribing and
further payments 10y instdlments OF otherwise, and
penalties for non-payment Of any instrument, and
HisU concerning the receipt, deposit. and safe keep
ing Of money received from such subscriptions. until
tue 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, il he shall deem IL
expcdient, before opening books oi subscription
above provided, to exchange for coin paw for
public dues or for Treasury notes OF the issue of
twenty-thiTd Of December, eighteen hundred and
hftyssven and falling due the thirtieth of June.
ghteen hundred aud sixty-Onc, or for Treasury
notes issued aud taken in exchange for such notes.
any of said Treasury notes for hfty dollars
dollars.
See. l. And be it further enacted. That, before
awarding any portion Of the loan in bonds author
zed by this act the Secretary Of the Treasury il lac
deem it advisable to issue proposals for the sHnc i'll
the Uuited States, shall give not less than fifteen
days public notice in two or more Of the public
Icw srapers 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
Ice received for the same the periods for the
aud the amount Of each instalment in which it is
TO be paid, aud the penalty for the noH-payment Of
any such Instruments, aud Wien aud where such
IVsals shall be opened in the presence Of such per-
sous as he may choose to attend; and the Secretary
Of the Treasury is authorized to accept the IA
V"rTlble proposals offered By responsible bidders :
Provided That offer slall be accepted less than
PAR.
Sec s. And be il further enacted. That the Score
tary Of the Treasury may, If he deem it advisable
negotiate any portion Of said loan. not exceeding
one hundred niliong Of dollars in any foreign couI
try, and payable at any designated place either in
the GIFTED States i'll Europe and may issue regis
tered or coupon bonds for the amount thus negotia
FaI-s
interest payable scmiRunnally. either in the United
States or at any designated place in Europe and he
Is further authorized to appoint such agent agents
rs he may deem necessary for negotiating such loan
under his instruction. aud Tor paying the interest
on the same. and to fla the compensation Of such
agent or agents, and Ea! prescribe TO them all the
rules regulations, ami modes under which such loan
shall lie negotiated, and shall have power to fix the
rate uf exchange at which the principa shall be re-
ccived from the contractors for the Loan and the
Change for the payment Of the principal and inter
est In Europe shall be IT the same rate.
/ Sec, o. And he 1t further enacted, That whenever
any Treasury notes, NJ denomination less than fry
dollars authorized to he Issued by this shall have
been redeemed the Secretary Of the Treasury may
reissue the same or may cancel them and issue new
notes 20 an equal amount: Provided, That the RE.
EregRto amount Of bonds and Treasury notes issued
under the foregoing provisions Of this act shall
cNceed the full amount authorized by the first
tion Of this acti and the power issue reissue
such rot shall cense and determine after the thirty.
flint OF December, eighteen hundred and sxtytyro.
Sec !: And be It further enacted That the Seere-
tary Of the Treasury s hereby authorized whenever
ASSA" ~ 60 " AebuS III SACuAAke AOE
coin or IN payment for public duee, Treasury notes
OF any OF the denominations hereinbefore specified
bearing interest not exceeding six per centum per
Runuin, and payable At any time not exceeding
twelve months from date, provided that the amount
u notes 60 issued or paid shall at time exceed
twenty millions Of dollars.
Sec 8. And be Il further enacted, That the sscre-
taFy Of the Treasury shall report TO Congress- ime
dlatsly AFTER the commencement Of the next session.
the Asouut he has borrowed under tho provisions OF
this ant, Of whom, and on what terms with An alb
fAet o. al the proposals, designating those that
have been accepted aud those that have been reject
ed and the amount Of bonds or Treasury notes that
hsR6 b4su Issued for the name,
Sec. Q. And be Il further enacted, That the faith
Of the unitod States II hereby ROemnly pledged for
the bsybtnf o. thO interest and redemption Of tho
| principal 81 the Loan authorized by thia sot
] AID hn a hnrAhnr nnnnihh. That All nrrA.