Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1861-04-13
TPCBLIC-No. 22.1

-
AN ACT to provide payment of outstanding Treas
~ notes. authorize lOan 10 regulate and nix the du-
ties imports, and for other purposes.
BE it enacted BIZ the Senate end House of Representatives,
of the United States Of insricG C"ngyesS assembled,
That the President of the United States be and hereby is
authorized at any time within twelve months from the pas
of this act, to borrow the credit OF the United
States, not exceeding ten millions OF dollars, or so
much thereof in his opinion the exgenceS OF the public
service Iequre TO be applied to the payment OF APP
preparations made BY law, and the balance Of Treasury
notes outstanding and other purposes, in addition
to the money received which be received into the
Treasury from other Pr0cdd, That no Stpna-
ton shall be made TO prevent tue United States
from remburSing borrowed under the authority
of this time after the expiration of two years
from the first " of July next BY the United States Civ
ing three months notice. To be published in some newSpa-
per published at the seat of government of ther readiness
TO do and contract shall be made TO prevent the
dempton OF the same at any time afer the expiration oil
twenty wears from the said first day of July next.
Sec Ind be further eHdctej That stock shall be is
sued for the amount borrowed bearing interest not
ceedng per cenum per annum and the Secretary OF
the Treasury be and hereby authorized with the consent
of the President certificates of stock TO be pre-
pared which shall be signed by the Register and sealed
with the seal of the Treasury Department for the amount
borrowed in favor of the parties lending the same,
their which certificates may be transferred on the
books of the Treasury, under sHch regulations may be
established by the Secretary of the Treasury PFogid
That certificate shall be issued for less than
thousand dollars: And POUfet also, That whenever
qued the Secretary of the Treasury coupons of
semannua interest payable thereon to be attached TO
tcates issued uader this act and any certificate with
such coupons of interest attached may be assigned and
transferred by delivery of the same instead of being
ferred on the books OF the Treasury.
Sec g. And be IL further enacted. That, before awarding
any of said Oan the Secretary of the Treasury SHALL the
exgencies of the public require to be insert
ed in two of the public newspapers OF the city of Wash
ingtOn and in public newspapers in other
cities of the United States, public notice that scaled pro-
posals for much of said loan required will be
ceived until certain day, to be specified in such notice,
not less than thirty days from its first insertion in Wash
ingon newspapers and such notice shall state the amount
of the oan what periods money shall be paid if by
mpntS a
shall be opened the day appointed in the notice in the
presence of such may chose to attend and the
proposals decided by the Secretary Of the Treasury who
shall accept the favorable Offered by responsible bid
ders for said stock And the said Secretary shall report
Congress at the commencement OF the next session. the
amount of money borrowed under this act and of whom,
and what terms it shall have been obtained with alb
sract or brief statement of all the proposals submitted for
the same distinguishing between those accepted and those
rejected with detailed statement of the expense of
king such loans: ProUi That stock shall be disposed
of at less than its par value: And prOCid FURTHER That
part of the loan hereby authorized shall be applied to
the service of the present fiscal year.
Sec 4 And be ii further enacted That in the pro-
posas made for said oar for much theeO the ext
gences of the public service shall require shall not be sat
Sactory the President of the United States shall be- and
hereby is authorized TO decline TO accept such offer for
less than the value of the bonds constituting The said
stock and in lieu thereof and to the extent and amount of
the loan authorized to be made by this act to issue Teasu
~ notes for less than fifty dollars, bearing inter-
est at the rate of six per cenum per annum payable SEMI
annually on the first days Of January and July IN each year.
at proper places OF payment to be prescribed by the Sece
",
like circumstances and conditions the President of the
United States hereby authorized to substitute Treasury
notes of equal amount for the whole part OF any Of
the loans for which he is by law authorized contract
and issue bonds And the Treasury notes issued under
the authority herein given shall be ecevedu payment for
all debts due TO the United States when offered and in like
shall be given in payment for any due from
the United States when In that mode requested
by the to whom is to be made for their
par value in con And the faith of the United States IS
hereby pledged for the due of the interest and the
redemption of the principal of the stock Treasury notes
which be issued under the authority of this act and
the of twenty thousand dollars hereby appropriated
out of in the Treasury not otherwise apprOpra
ted TO pay the expenses of preparing the certificates OF
stock Treasury notes helm authorized be done in the
usual mode and under the restrictions the employ
ment and of officers contained in the laws author
Zng former loans and issues of Treasury notes and it
shall be at the option of holders of the Treasury notes
hereby authorized by this exchange the for the
stock herein authorized at for bonds lieu of which
said Treasury notes issued: Provided that cert
cate shall be exchanged for Treasury bonds in
less than five hundred doars And provided further
authority to issue the said Treasury notes give
the same in payment for debts due from the United States
shall be limited to the hirteh day of June eighteen hum
dred and sxywO and that the same NAV be redeeuabe
at the pleasure of the United States any within two
after the passage of this and that said notes shall
to bear interest after they shall called by
the Secretary OF the Treasury under the provisions of this
| act
Sec. s. And be IL further enacted That from and after
the first day of April Ammo Domni eighteen hundred and
sxtyone in lieu of the duties heretofore imposed by
the articles hereinafter mentioned and such
and paid the goods and merchandise
merated and provided for imported from foreign countries
the following duties and rates of duty that to say:
| First On raw sugar, commonly called Muscovado OF
brown not advanced beyond its by caying
or other process one cent per pOund on syrup of