Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-10-02

ti6n tie corps of laYmastcrs and assistant raSlS
ters ,all be reduced to the number Of sevcnty-ive
Approved, July l., 1861.
IPuBuc-No. 81
AN ACT to authorize National Loan and for
other purposes.
Re it enacted by the Senate and House Of Repre-
.entaives Of the United States Of America in Con-
assembled, That the Secretary 81 tue treasury
be aud lac is 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 or SO much
thereof ns may necessary for the public SER
vice. for which lie is authorized To issue coupon
bonds registered bonds, or Treasury notes i'll such
proportions Of each he may deem advisable; the
bonds bear interest not exceeding seven per cent
per payable Scmi-annually, irTcdeemable Tor
twenty years, and after that pcriO'l rcdccmable ut
the pleasure of the United States; and the Treasury
uUrcs he of any denomination fixed by the Score
tHry OF the Treasury, not less than nifty dollars, hnu
lc PAYABLE three years alter date, with interest
nt the tate seven and thrrctrntls per ccntum per
anIium payable scmiannually. And the secretary
of the Treasury may also issue in exchange for coin
aud rs part Of the above loan. may pay Tor SALARIES
CT other dues from the United Siatcs, Treasury notes
Of less denomination than liity dollars not bearing
interest, but payable demand by tlc Assistant
rrcnsurcrs Of the United States at Philadelphia New
York B''stUn or Treasury notes bearing Interest
at the rate Of three aud siNty-hve hundredtls per
Ccntum payable in year from date AMI CNclanE-
abe at any time for Treasury notes for fifty dollnIs
and upwards, i-Suable under the authority OF this
act and hearing, interest rs specified above: Pruyi
,cil, That no exchange "f such notes i'll any less
aInOunt than Une hundred dollars shall lie made at
any one time: And provided further, That M
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 c&cctA hity millions
Sec >. And be it further enacted. That the Trca-
sury notes aud bonds issued under the provisions of
this act shall tie signed by the First Second Comp
tro!Irr or the tcisero Of the Treasury and counter
si.cd hy such other officer officers "f the Treas
ury the Secretary of the Treasury may designate;
III matt.
dollars and upwards, shall be issued under the seal
of the Treasury Department. The registered h"nds
sir Ice transferable on the books Of the Treasury
delivery OF the Certificate, AMI the coupon bonds
and Treasury uUtes shall lee transferable OH delivery
The interest coupons may be 81 sncd 10y such person
ur persons. utCd in suCl manner. may lie
designated 10y the Secretary of the Treasury, who
shall fN the compensation FOR the SAME
Sec :. And lac it further enacted. That the Score.
tmry IF tho Treasury shall bGrk- to lac opened
fer subscription to tine Treasury notes for my dol
lars and upwards. Mt such places as Il" may designate
in the United States, and under such rnlrs and rcSu-
i"i's ''s e may prescribe. l" he superintendent ny
iu assistant trr-urcrS "r the United states nj their
respective Localities. and AT other places Icy sur de
ln-t"ricE, l"- nn-ci1, ana other persons s lac may
designate, notice thereof being given ia 1T least Nv"
daily papers "t this city. and In one ar more public
urwzIaurrs published in the several places where
subscription books may hc"Vencd ami subscriptions
fer such notes may I've received tr"m all persons VIII"
may desire To subscribe, any law to the contrary not
wIil>i,tndinr: and it, larger amount shall Ice sub
scrih"d ia the assrcetc ltIis required at one ulne'
the Secretary ri the Treasury Is authorized t" re-
The should TIE deem IL advantageous
the public interest; ami II not lac shall accept Tie
required 10y giving the preference to the
SMALLER subscriptions; AMI the secretary of the
Treasury shall hN tile CUlnpen atoms oil the lhhc
officers others designated for receiving said sub
,cripti"n-: Provided. That. for = TfngnIiug this
any other duty in cunneNun with this net. mo com
pensai0n for services rendered shall he allowed or
paid any public officer whose salary is established
by law: and the secretary lie Treasury may also
make such other rules ar equations as lac may
dCem eNpcleut touching tho inStaimcnt IL lee paid
any subscription at the time VI subscribing and
further payments Icy instam,nts or otherwise, and
penalties for nun-ptynent al any instrument. AMI
ulsn concerning the receipt, deposit anil safe keep
ing 81 money received from such subscriptions, until
the be placed in the possession OF official
repositories Of the Treasury. any law or laws tU the
contrary Notwithstanding. And the Secretary Of
the Treasury is Rlso authorized, If he shall dceInit
oxIcdicut before opening hooks al suJscriptiUIrIs
above provided, to exchange for coin or pay for
public 'lnes for Treasury notes of the issue OF
twenty -thiTl Of December, eighteen hundred and
hny-scvcn. and falling due on the trtirth OF june
Shtccn hundred and siNty-Onc, or for Treasury
notes issued and taken in exchange for such notes
any amount of said Treasury notes Tor my dollars
upwards not exceeding one hundred millions of
dollars.
Sec l. And he It further enacted. That before
awarding any portion Of the loan iu bonds author
lied 10y this act the Secretary Of the Treasury, if lac
dcCIu it advisable to issue proposals for the in
the Uuitcd States, shall give not less than fifteen
days public notice in two or more "f the public
| newspapers in the city Of Washington, aud in such
other places Of the United States as lac may deem
advisable, designating the amount of such loan the
place and the time up to which scaled proposals will
received Tor the the periods the
and the amount Of each instalment in which it il
to he paid, and the penalty for the nnu-TtyUcut Of
any -uclI instiIlmcnts, and when and where such pro
pusals shall hS opened in the presence of such per
~ lac may choose to attend; and the Secretary
ri the Treasury is authorized accept the most
vorahlc proposals offered by responsible bidders:
Provided, That offer shall Lu accepted at less than
| par. .-..
Sec. .. And he it further enacted, That the Score
ary Of the Treasury may. if he deem it advisable.
negotiate any portion Of said loan. not exceeding
onr hundred millions Of dollars, in any foreign
try. AMI payable at any designated place either in
the Uncd States or in Europe, and may issue regis
tered or coupon bonds for the amount thus ncgutt
ted nrecbly 10 the provisions of this act, bearing
interest payable scmaunuaily either in the United
States any designated place in Europe; and he
is further authorized appoint such agent agents
a. he may deem necessary for negotiating such loan
under his Instructions and for paying the interest
on the came, and to fix the compensation Of such
agent or agents, and shall prescribe to them all the
rules regulations, and modes under which such loan
shall Ice negotiated, and shall have power Ia fix the
rate of exchange at which the principal 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 at the same rate.
Sec. q. And I've 1t further enacted, That whenever
any Treasury notes, Of denomination less than filtY
dollars, authorized to be issued by this act shall have
been redeemed, the Secretary Of the Treasury may
reissue the same. or may cancel them and issue
notes to an equal amount: Provided. That the ag-
greEnte amount OF bonds and Treasury notes Issued
under the foregoing provisions of this act shall never
exceed the full amount authorized by the first
ton Oi this act; and the power to issue or reissue
such not shall cease and determine after the thirty
first Of December, eighteen hundred and sxty-two.
Sec Z; And be it further enacted, That the Secrc-
tay OF the Treasury IL hereby authorized whenever
lac shall deem it eSpedpnt, to issue In exchange for
eoiH or In payment for public dues, Treasury netes
Of any Of the denominations hereinbefOre specified
bearing Interest not exceeding six per centum per
| anuum, and payable at any time not exceeding
twelve months from date, provided that the amount
Of notes so issued or paid shall at time exceed
twenty millions Of dollars.
Gee. 8. And DO 1t further enacted, That the Score
tary 81 the Treasury shall report t. Congress imme
1p If
tho amount lie has borrowed under the provisions of
this act Of whom, and on what terms with an alb
strnrt Of all tho proposals, designating those that