Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-10-24

Sec G. And be ii further enacted That within six
months after the expiration of the present nsurrec
tion the corps of paymasters and assistant payIas
tiers shall reduced TO the number of seyenty-fye
in the whole.
Approved, July Il, lSGl.
[Puruc-So 81
AN ACT to authorize n National Loan and for
other purposes.
BE it enacted by the Senate and House of Repre-
-entatives II the United states of America in Con-
rCSS assembled That the Secretary of the Treasury
lie and he l. hereby authorized 70 borrow, on the
.geGlt VI the United States, within twelve months
Irui the passage of this act, sum not exceeding
hundred and nifty millions Of dollars or so much
;heryct lie may deem necessary for the public ser
Vics. for which he is authorized To issue coupon
t,ss. Registered bonds, OF Treasury notes IN snCh
Proportions Of each a. he may deem advisable; the
bonds to et-r interest exceeding seven per cent
r-sr aununl payabc semianuualIy. irredcemable for
~ eniy years, and after that period rcdecmhble at
the pleasure Of the United States: and the Treasury
notes be Of any denomination fixed by the Secre-
tary OF the Treasury not less than ftty dollars, and
he payable three years after date with interest
AT the rate of and threetenths per centum per
annunI, payable seIninnnutlly. And the Secretary
Of the Treasury also issue in exchange for coin
and part of the above loan may pay for salaries
or other dues from the United States, Treasury notes
less denomination than fifty dollars not bearing
interest but payable ON demand 10y the Assistant
Tresurers of the United States at Philadelphia New
York Boston. or Treasury notes bearing interest
at the rate of three and siXty-ive humdrcdths per
ccutun payable IN one year from date, ana eNGihE-
able ut time for Treasury notes Tor nifty dollars
and upwuIds. issuIble under the authority Oi tins
act and bearing interest as speculed above: ffoN-
| del. That exchange Of such notes ia any less
amount than one hundred dollars shall De made at
any time: And provided further. That no
Treasury notes shall he 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 htty millions
of dollars.
Sec. . And be it further enacted, That the Urea
sury notes and bonds issued under the provisions of
this act shall be signed 10y the First Second Comp
troller the Register Of the Treasury and counter
signed by such other officer officers of the Treas
ury the Secretary of the Treasury may deSgnate
and all such obligations of the denomination OF nifty
dollars and upwards, shall be issued under the seal
of the Treasury Department. Tie registered bonds
shall Ice transferable the books Of the Treasury
on delivery of the certificate. and the coupon bonds
and Treasury notes shall be transferable delivery.
The interest coupons may be signed by such person
or persons, executed i'll such manner. 's may lie
designated by the Secretary of the Treasury, who
| shall fix the compensation for the Smc.
See. s. And be it further enacted, That the Score
tary of the Treasury shall cause books to be opened
for subscription to the Treasury notes for nifty dol
lars and upwards at such places as lac may designate
in the United States and under such rules ana reEu'
aiions he may prescribe, to be superintended by
the assistant of the United states at their
respective localities. and at other places by such de-
pOsitUries pOsImastcrs and other persons Us lie may
designate, notice thereof being given i'll ut least two
daily papers Of this city, and i'll one or more public
newspapers published in the several places where
subscription books may beOpened; and subscriptions
for such notes may bc received from all persons VIII"
may desire to subscribe any law to the contrary not
withstIudng; aud if u larger amount shall be sub
scribcd in the aggregate than is required AT one time
the Secretary of the Treasury Is authorized to re-
ceive the same, should he deem il advantageous to
the public interest: and If not. lie shall accept the
amount required by giving the preference 10 tlie
smaller subscriptions; and the Secretary of the
Treasury shall fix the CUmpen -atious OF the public
officers others designated for receiving said sub
scriptiOns: Provided. That. for performing this or
any other duty in connection with this act. no COM
TensItiOn for services rendered shall be allowed or
paid any public officer whose salary is established
10y Law; aud the Secretary he Treasury may also
! make such other rules ar equations lie may
deem eXpedient touching the in-ttlinent t. be paid
On any subscription at tile time Of subscribing ana
further payments by instalments or otherwise, ami
penalties for Hou-PHyincnt of any instalmcnt. and
also concerning the receipt. deposit. and s,it. keep
ing uf money received from such subscriptions until
the sans can be placed in the possession of official
repositories of the Treasury any law or laws I" the
contrary notwithstanding. And the secretary OF
the Treasury j. also authorized, il lie shall deem II
! cNpcdent. before opening books OF subscription as
aLuVC provided, to exchange for coin or pay Tor
public dues or for Treasury notes of the issue Of
twrnty -tTd of December, eighteen hundred and
ffty-seven. and falling due the thiTteth Ot June
eighteen hundred and siNty-onc, OF Tor Treasury
notes issued and taken in exchange for such Eptc-
any annunt of said Treasury notes for nifty dollars
1 upwards not exceeding one hundred millions oi
! dollars
Sec l. Aud lie it further enacted, That, before
awarding any portion of the loan iU bonds author
lied By this act the Secretary Of the Treasury if lac
deem il advisable to issue proposals for the in
tI,e Uuted States. shall give not less than fifteen
days public notice in two or more of the public
newspapers in the city of Washington, and in such
other places of the United States IS he may deem
advisable designating the amount Of such loan the
place aud 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 it is
to he paid and the penalty for the noi-puymeut of
any such instruments and when and where such pro-
Posnls shall he opened presence Of such per-
sons as lie may choose to attend; and the Secretary
of the Treasury Is authorized to accept the most IA
vorabc proposals offered by responsible bidders
Provided, That offer shall be accepted at less than
par.
Sec. 5. And be IL further enacted. That the Secre
tary OF the Treasury may, if lac deem it advisable
negotiate any portion OF said loan, not exceeding
one hundred millions of dollars in any foreign cCu
try. and payable at any designated place, either in
the United States or in Europe and may issue regis
tered or coupon bonds for the amount thus uegOtia
ted agreeably to the provisions of this act, bearing
interest payable sem-annually, either in the United
States or Mt any designated place in Europe and he
is 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 them all the
rules regulations, and modes under which such loan
shall be negotiated, and shall have power fix the
rate OF exchange at which the principal shall lie 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. g. And be it further enacted, That whenever
any Treasury notes, of denomination lees than fifty
dollars, authorized to be issued by this act shall have
been redeemed, the Secretary of the Treasury may
reissue the same ar may cancel them and issue new
notes to an equal amount: Provided, That the aE-
gregate amount of bonds and Treasury notes issued
under the foregoing provisions of this act shall
exceed the full amount authorized by the first sec
ton OF this act; and the power to issue reissue
such not shall cease and determine after the thirty
first Of December, eighteen hundred and sxty-two.
Sec. Z. And be 1t further enacted, That the Score
tRry OF the Treasury is hereby authorized whenever
he shall deem it expedent issue in exchange for
con or in payment for public dues, Treasury notes
OF any OF the denominations hereiDbefore 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 paid shall at no time exceed
twenty millions OF dollars.
Sec. 8. And be It further enacted That the Score
tary Of the Treasury shall report to Congress, imme
diatey after tho commencement of the session,
the amount he has borrowed under the provisions of
this act, Of whom, and on what TERMS with an alb
Bract OF all the proposals, designating those that