Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-11-08
owed, July II, 1861.

tion the corps Of paymasteTs and assistant paymas
tiers shall be reduced to the number Of seventy-hNe
| in the whole.
Approved, July II, 1861.
[PUBLIc-NO. ST.
AN ACT. to authorize National Loan and for
other purposes.
Re il enacted by the Senate and House Of Repre-
gentatives Of the United States of America in Con-
gress assembled That the Secretary of the Treasury
be and he il hereby authorized to borrow, on the
credit of the United States, within twelve months
| from the passage of this act, sum not exceeding
two hundred and fifty millions OF dollars OF so much
thereof he may deem necessary for the public ser
vice, for which he is authorized TO issue coupon
bonds or registered bonds, Treasury notes. in such
proportions of each Rs he may deem advisable; the
bonds to bear interest not exceeding seven per cent.
per Rnuum, payable semi-Rnnually, irredeemaDe Ior
twenty years and after that period rGdeemable at
the pleasure of the United States AMI the treasury
notes be Of any denomination fixed by the Secre-
tary of the Treasury, not less than fifty dollars and
TO be puYahe three after date, with interest
nj the rate of seven and three per centum per
nnnum payable seuiannually. Aud the Secretary
Of Treasury may also issue in exchange for coin,
aud part of the above loan, may pay Tor salaries
or other dues from the United States Treasury notes
of less denomination than fifty dollars, not bearing
| interest, but payable demand by the Assistant
TrcIsurers Of the United States at philadelphia, New
York Boston, or Treasury notes bearing interest
at tho rate Of three and siXty-hye hundredths per
Ceutun, payable in one year from uhtet ana eNciiE
able at any time for Treasury notes for htty dollars
and upwards, sSuable under the authority OF this
net and bearing interest specified above: PrDTi-
ded. That exchange OF such notes in any less
amount than one hundred dollars shall be made at
any one time: And provided further, That no
Treasury notes shall be Issued of a less denomination
| than ten dollars and that the whole amount al
Treasury notes, not bearing interest, issued under tile
authority Of this act, shall not exceed nifty millions
Sec ?. And be it further enacted, That the Trct-
snry notes and bonds issued under the provisions of
this shall he signed by the First or Second Comp
troIler the Register of the Treasury, and counter
signed by such other officer or officers OF the TTciIs
uFy as tile Secretary Of the Treasury may designate:
| doll ltH If
dollars and upwards shall be issued under the seal
of the Treasury Department. The registered bonds
| shall be transferable on the books of the Treasury
delivery of the certificate, and the coupon bonds
and Treasury shall be transferable on delivery
Tho interest coupons may be signed by such person
OF persons, or executed in such manner az may Da
designated by the Secretary Of the Treasury, WHO
! shall fix the compensation for the same.
Sec 3. And be il further ehactgd, That the Score.
tary of the Treasury shall cause books to be opened
for subscription to the Treasury notes for tty dol
lars and UPWARDS at such places lie may designate
in the United States, and under such rules and reg
atiOns he may prescribe, to be superintended by
the assistant Of the United States at their
respective localities, and at other places by sch de-
ostOries pOstmasters. and other persons as lie may
designate notice thereof being given in at least two
daily papers of this city, and in one or more public
newspapers published in the several places where
subscription books may be Opened and subscriptions
for such notes may be received from all persons VIII
may desire subscTibe any law to the contrary not
withstandIng; and ifa larger amount shall be sui
scrbed in the aggregate than Is required at one tim,
tIe Secretary Of the Treasury is authorized to n,
Ceiye the same, should he deem it advantageous
the public interest; and if not. lie shall accept Tia
amount required by giving the preference to III
smaller subscriptions; and the Secretary OF Ia .
Treasury shall nix the c0mpen ations OF the publ
officers or others designated for receiving said sui
scriptons: Provided, That, for performing this o
any other duty in connection with this act, c"ni
pensatiOn for services rendered shall be allowed
paid to any public officer whose salary is establisc
by law; and the Secretary C he Treasury may als
make such other rules aE. equations as he ma
deem eXpedient touching thu instnIment TO be pa
on any substitution at the time OF subscribing,
fuFfI Thar INF ~
penalties for nOn-paynent of any instalment, an
also concerning the receipt, deposit, and safe keel
ing Of money received from such subscriptions, unit
the same be placed in the possession OF oiici'
repositories of the Treasury, any law or laws Ia IT,
contrary Notwithstanding. And the Secretary
the Treasury is also authorized IL he shall deem
expedient, before opening books OF subscription
above provided, to exchange for coin or pay to
public dues or for Treasury notes OF the issue
twenty-third of December, eighteen hundred aH
ffty-seYen and falling due on the thirtieth of jun
eighteen hundred and sixty-one, or for TTeasnr
notes issued and taken in exchange for such note
any amount Of said Treasury notes for fifty dollar
or upwards not exceeding one hundred millions
dollars.
Sec. 4. And be it further enacted, That, befoI
awarding any portion of the loan in bonds authO
lied by this act the Secretary OF the Treasury II
deem it advisable to Issue proposals for the came
the Quilted States shall give not less than hftee
days public notice in two OF more of the publ
newspapers in the city of Washington, and in sue
other places of the United States as he may dee
advisable, designating the amount of such lean. til
place and the time up to which scaled proposals wi
be received for the the periods for the paynIeb
and the amount Of each nstalment in which it
to be paid, and the penalty for the non-payment
any such instruments and when and where such pr
posals shall be opened in the presence Of such per
sons he may choose to attend; and the SecrefnI
Of the Treasury j. authorized to accept the most ia
vOrable proposals. offered by responsible bidders
Provided, That offer shall be accepted at less tina
par
taTy of the Treasury may, If he deem it advisable
negotiate any portion of said loan, not cxceedin
one hundred millions of dollars in any foreign couI
| try nndT IIR Mt nTV design pit
the United States or in Europe and may issue regi
tered or coupon bonds for the amount thus ncgotit
ted agreeably to the provision Of this net 6earin
interest payable semLannGally, either in the Unite
States or at any designated place in Europe; and
Is further authorized TO appoint such agent agent
as he may deem necessary for negotiating such lou
under his Instructions and for paying the interes
on the same, and to tx the compensation of sue
agent or agents, and shall prescribe to them all IL
rules regulations, and modes under which such loa
shall be negotiated, and shall have power to fix IT,
rate of exchange at which the principal shall DO
ceved 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 whenev,
any Treasury notes, of denomination less than FIJI
dollars authorized to be issued by this act shall has
been redeemed the Secretary Of the Treasury ma
reissue the same. may cancel them aud issue
notes to an equal amount: Provided, That the a.
gregate amount Of bonds and Treasury notes issue
under the foregoing provisions Of this act shall nevt
exceed the full amount authorized by the first Sc
tion of this act: and the power to issue or reiss
such not shall cease and determine atterth thTt
, first of December eighteen hundred and siXty-twU.
Sec Z. Aud be It further enacted, That the Seer
tary of the Treasury is hereby authorized, whenevt
he shall deem It expedient, to issue in exchange
COIN or In payment for public dues, Treasury mote
Of any of the denominations hereinbefore specific"
bearing interest not exceeding six per centum pc
annum, and payable at any time not exceedn
twelve months from date, provided that the amour
Of notes issued or paid shall at no time excel
twenty millions Of dollarB.
Sec. 8. And be Il further enacted, That the Seer
tary Of the Treasury shAl report TO Congress, imm
diately after the commencement OF the next session
the amount no has borrowed under the provisions
this act, Of whom, and what terms with an al
stract Of all the propoBals, designating those thi
have been accepted and those that have been rejeo
ed and the amount Of bonds or Treasury notes TIT
have been issued for the same.