Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1861-08-16

LAWS OF THE UNITED STATES,
Passed at the First Session OF the Thirty
Seventh Congress.


- LPuBLIc-No. ALL
BE it enacted by the Senate and House of Repro.
sentatlyes OF the United States of America in dnn
gfess assembled That the secretary of the treasury
- nereoy authOI!zed to issue bonds of the United
states, bearing interest at six per centum per an
num- and payable at the pleasure of the Tinted
| States alter twenty years from date; and If anv
holder OF treasury notes bearing interest nj tbe
OF seven and three tenths per centum which 10
DC issued under the authority of the act to authorize
national loan and for other purposes approved
JuiE seventeenth, eighteen hundred and sixty-one
snail desire to exchange the same for said bonds the
secretary OF the treasury may at any time be fore or
az me maturity OF said treasury notes. issue to said
holder, in payment thereof an amount of said 6onds
equal to the amount which, at the time of such M
ment or exchange, may be due ON said treasury
notes. but no such bonds shall be issued far ias
sum than five hundred dollars nor shall the ,.boio
amount of such bonds exceed the whole amount Of
treasury notes bearing seven and three teuths Der
cehtum interest," issued under said act; and any mart
OF the treasury notes payable demand auth6riz-
ca by said act, may be payable by tine assistant
treasurer at Saint Louis by the depository at Gin
Sec. 2, And be it further enacted That the treasu-
ry notes issued under the provisions OF the said act
TO authorize national loan, and for other mr.
poses, of any other act now in force aufhoriliI
the issue of such notes. shall be signed nv the +re
urer OF the United States, or by some officer of the
treasury department designated by the secretary of
the treasury for said treasurer, and counersi9ued
by the register OF the treasury or by some officer of
the treasury department. designated by the secretar,
oil the treasury, Tor said register, and treasury
notes. issued under any act shall require the seal f
the treasury department. -
Sec. 3. And be it further enacted That so ro,,cb
OF the act to which this is supplementary as limits
the denomination of portion of the treasury notes
authorized by said act at not less than len dollars
be and is so modified to authorize the secretary Of
the treasury to fix the denomination of said notes at
not less than five dollars.
Sec. A, And be it further enacted, That in addi
ton TO the amount heretofore appropriated the
sum of one hundred thousand dollars or so mnch
thereof as may be necessary. be and the same is
hereby appropriated, out Of any money in the treas
ury not otherwise Appropriated to nav such CIV
penses commissions, or compensation as NAV be me-
cessary, IN the Judgment of the secretary of the
treasury TO carry into execution the provisions of
this act and of the act TO which this is supplement
tary.
Sec. 5. And be it further enacted That tl,e trans
ury notes Authorized by the act which this is sup
Elementary, of less denomination than fifiy dol.
lars payable on demand without interest, and not
exceeding in amount the sum of fifty millions
of dollars, shall be receivable in payment of public
dues. FN'-0
Sec. 6 And be it further enacted. Tint fine pro.
visions OF the act entitled An act to provide for
the better organization of the treasury and for the
collection safe keeping transfer and Disbursements
1I me pubic revenue passed August six, eighteen
hundred and torty-siX, be and the same are hereby
suspended SO Tar as to allow the the secretary of the
treasury to deposit any Of the money, obtained on
any OF the loans now authorized by law TO the
credit of the treasurer of the United States in sch
solvent specie paying banks he may select; and
sne said MONEYS SO deposited, may be withdrawn
from sucl deposit for deposit with the regular an
thorzed depositaries, for the payment Of Dnblic
dues or PAID IN redemption of the notes authorized
TO be issued under this act or the act to which Ills
IS supplementary, payable on demand, as NAV seem
eApeaent to- or be directed by the secretary OF the
Sec. Z. And be it further enacted That the secre
ary OF the treasury may sell or negotiate for anv
portion OF the loan provided for in the act ia which
ms Is supplementary bonds payable not more than
.Wehly years from date, and bearing interest not
exceeding six per centum per annum PAYABLE semi
innuay ut any rate not less than the equivalent of
par, ior the bonds bearing seven per centum inter
EST, authorized by said act
Approved, August 5, 1861