Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-10-22
PusLrc-No. ST
AN ACT to authorize National Loan and 70
other nurrnses. -


(PUBuc-No. 81
AN ACT to authorize National Loan and FOR
other purposes.
BE il enacted 10y the Senate and House Of Repre-
sentatVes Of the United States of America IN Con-
gress assembled Tint the Secretary of the Treasury
Lee and he is hereby authorized 10 borrow, on the
credit OF the United states, within twelve months
from the passage of this act, sum not exceeding
two hundred aud fifty millions of dollars, or SO mnch
thereof AS he NAV deem necessary for the pubc
vice, for which he is authorized 10 Issue coupon
bonds registered bonds, or Treasury notes in such
| proportions Of each he may deem advisable; the
bonds hear Interest not exceeding seven per cent
per afuum. payable semi-anuually. rredeenable for
twenty years and after that period redcemaGle at
the pleasure of the United States and the Treasury
notes TO be of any denomination hNed BY the Secre
ary of the Treasury not less than fifty dollars and
To he payable three years after date, with interest
the rate Ofseven and threc-cntis per ccntun per
annun parable seni-anuually. And the Secretary
Of the Treasury may also issue in exchange for COLL
and AS part of the above loan or may pay salaries
or other dues from the United States Treasury notes
Of less denomination than fifty dollars. not bearing
| interest, but payable on demand by the Assistant
Trclsurers of the United Stntes at Philadelphia New
York or B"stoS or Treasury notes bearing interest
ut the rate Of three ard slNty-lYC hundTctth- per
reuum payable in year from date. and e&c!anE-
abe at any time for Treasury notes tor hity doais
| and upwa d., ssuable under the authority OF this
act aud bearing interest as specified above; Provi-
! dcl, That no exchange of such notes III any less
amount than one hundred dollars shall lie made 1t
any one time: And provided further, That no
Treasury notes shall be issued of less denomination
Treasury notes hearing. interest issued under the
authority of this act, shall not exceed hity millions
| Sec 2 And be it further enacted. That the Tren-
,IIry and bonds issued under 'e provisions Of
this urt shall he signed 10y the First Second Comp
trocr the Register Of the Treasury. and counter
signed by such other Oircr or officers Of the Treas
ury the Secretary of the Treasury may designate:
and all such obligations pt the denomination oi NIFTY
dollars and upwards. shall hc issued under the seal
Of the Treasury Department. The registered bonds
shall Ie transferable on the books 81 the Treasury
OH delivery OF the certificate. and the coupon bonds
aud Treasury shall be transferable delivery
The interest coupons may lie signed 10y suCh person
or persons. or executed in such manner may be
designated by the Secretary of the Treasury, who
shall fix the compensation for the same
Sec. 3. And be IL further enacted. That the Score
tary of the Treasury shall books to lie opened
for subscription the Treasury notes for ftty dol
lars and upwards, at such pltces a. he may designate
in the United States, aud under suc! rnIes ana reg
ntions he may prescribe, to be- speTintcnucd by
the assistant Treasures Of the United states Mt their
respective localities, ana nj DINER places 10y sch ne
pn-itOrcs, hustmu-tcrs, and other persons a. lie may
Designate notice thereof heinS given in at least two
daily papers Of this city and III one public
,.,, s:li,crs published in the several places where
/ subscription b"Ok-may bcUpencd; and subscriptions
FIR .ucl, n,ir- may lie received from all persons who
may desire subscribe. any law to the contrary not
witlrsudiDs; aud if a larger amount shall be sub
>crhed in the aggregate than is required at one time.
the Secretary Of the Treasury is authorized to re-
rciyo the same. should lac deem it advantageous t."
the public interest; and il not. lac siTIil accept the
amount required by giving the preference I" the
smaller subscriptions; anil tile Secretary Oi TIE
Treasury shall Xix tie cumpen,LtiOns U the public
officers others designated for receiving said sui
sCrIptum-: Provided, That, for lrrlnrimih% this OF
any other duty in connection with this net
IensItion services rendered shall be allowed or
paid to any public officer whose salary is established,
10y law and the Secretary - lie Treasury may also
make such other rules ar equations lac may
deem cNpedicmt tuuching thu instalmcnt Ia hc paid
OnU any subscription at the time of subscribing. and
further payments 10y instruments or Otherwise, and
penalties for nunpnymen of any instalment. and
also concerning the receipt. deposit, anil safe keep
ing Of money received from such subscriptions, until
the bc plaCedinthe possession of official
repositories of the Treasury, any law or laws tn the
contrary Notwithstanding Aud the Secretary of
the Treasury is also authorized IL lie shall deem it
rNpcIirnt before opening bouks ol subscription as
above provided, to exchange for coin pay for
public dues or fur Treasury notes of tho Issue of
twcnty-thiTd of December, eighteen hundrc, and
fysevcn. and falling due the thirticth of June.
eighteen hundred and sXty-Onc or for Treasury
notes issued and taken in exchange Tor such notes
any amuu"t uf said Treasury notes for fifty dollars
or upwards not exceeding one hundred millions of
Sec. 1. And be it further cnnctet. That, before
awarding any portion Of the loan in bonds author
Zcd by this act, the Secretary Of the Treasury if he
deem it advisable TO issue proposals for the same i'll
the Quilted States, shall give not less than fifteen
days public notice in two Of the public
newspapers in the city OF Washington, and in such
other places Of the United States as he may deem
advisable, designating the amount Of such loan the
place and the time up TO which sealed proposals will
be received Tor the same, the periods for the payment
and the amount Of each fnstaIment in which it is
to Ice paid. and the penalty for the noT-payment Of
amy such instruments and when and where such pro-
pnsals shall be opened i'll the presence of such per-
he may choose to attend; and the Secretary
OF the Treasury is authorized 10 accept the most fI
vOrable proposals offered by responsible bidders ::
Provided That offer shall be accepted ut less than
par.
Sec .. And be it further enacted. That the Score
tnry Of the Treasury may, if he deem it advisable,
negotiate any portion of said loan. not exceeding,
one hundred millions of dollars, in any foreign cOuIl-
try. and payable nt amy designated place. either
the United States in Europe. and may issue regis
tered coupon bonds for the amount thus negotia-
ted agrceIhly to the provisions of this act bearing
interest payable seniiannmay, either in the United
States NJ any designated place in Europe: and he
Is further authorized to appoint such agent agents
he may deem necessary for negotiating such loan
under his Instructions and for paying the interest
on the same. anti To Xix the compensation Of such
agent agents, and shall prescribe 10 them all the
rules, regulations, and modes undcr which such loan
shall be negotiated, and shall have power 10 fix the
rte Of exchange ut which the principal shall be re-
Ccived the contractors for the loan and the cX-
change for tho payment Of the principal and inter
est in Europe shall be at the same 1atc.'
Sec G. And be it further enacted, That whenever
my Treasury notes, Of denomination less than fifty
dollars authorized to be Issued by this act shall haze
been redeemed, the Secretary of tho Treasury may
reissue the may cancel them and issue new
notes to an equal amount: Provided, That the Rg-
Ercgatc amount OF bonds and Treasury notes issued
under the foregoing provisions of this act shall
exceed the full amount authorized by the first sec
tion of this act and the power TO issue or reissue
such not shall and determine after the thirty
first Of December eighteen hundred and sixty-two.
Sec :. Aud be it further enacted, That the Secre-
tary of the Treasury is hereby authorized, whenever
lie shall deem it cxPCdient, TO issue in exchange for
coin, or in payment for public dues, Treasury notes
OF any OF the denominations hereinbet0re specified,
bearing interest not exceeding six per centum per
Rnnum, and payable at any time not exceeding
twelve months from date provided that the amount
OF notes go issued OF paid shall Mt no time exceed
twenty millions of dollars
Sec. S. And be it further enacted That tho SecrD-
tary OF the Treasury shall report to Congress- immo
diately after the commencement Of tho session,
tho amount he has Borrowed under the provisions of
this act, of whom, aud on what terms, with an alb
EirAet 81 ell the proposals. designating those that
Rye beep EcceDted aud those that have been reject
ed Rpd the AMOUNT Of bonds Treasury notes that
have been issued Cos tho same.
Sec. Q. And be Il eIrther enacted, That the faith
Of the United States is hereby soleDnly pledged for
tis payment Of tbs intaFsgt and redemption OF the
4 principal Of theIOan authorized by this act
soc. TO- And bh II further enacted, That all pro-
Eiona Of the net entitled gAn alt 20 authorize tho
Ne OF TrOasnry notes." approved the 23d day Of