The national Republican., 1861-06-11
NATIONAL REPUBLICAN.
1o9He Acts Passed at the Second Session
II the Thirty-sixth Congress.

4U91o Acts Passed at the Second Session
II the Thirty-sixth Congress,
ca Ian ACT u authcrxe Issue Of Treasury Notes,
z 1tlt and for other Purposes
HsiG exscted By he Senate and House Of
ADscsestatipcs Of tie United States of AWerica
- csNgress assembled, That the President OF
(1hsl United Statesl be hereby authorised to
11vee treasury notes for such sum or sums -
- exigsncies Of the public service may require,
~ NJ TO exceed at any time the amount Of ten
uillieas Of dollars, and Of dsnomi1ssioas NOT
~ than 6fty dollars for any sach mote, 70 be
psspaesd, signed, and issued In ths manner
So. 2. And be IL further enacfed, That such
treasury notes shall be paid and redeemed by
~ United States, at the Treasury thereof, after
~ sxpiration Of one year from the date Of issue
% such notes; from which dates, until they
shall be respectively paid and redeemed, they
shall bear such rate Of interest as shall be ex.
peessed in such notes, which rate Of interest
shallbe six per centuih per annum Provided,
That, after the maturity of any Of said notes,
iuessest thereon shall cease at the expiration
of sixty days notice Of readiness to redeem and
pay the same, which may at any time or times
be given by the Secretary of the Treasury in
one or more newspapers at the seat Of Govern.
nsnt The redemption and payment Of said
lawful holders thereof, respectively, upon pre-
ssntment ct the Treasury, and shall include
tie principal Of each note and the interest
which shall be due thereon. And for the pay.
nent and redemption Of such notes at the time
and times therein specified, the faith Of the
United States is hereby solemnly pledged.
Sec. 8. And be ii further enacted, That such
TREASURY notes shall be prepared under the di-
rection Of the Secretary OF the Treasury, and
shall be signed in behalf Of the United States
BY the Treasurer thereof, aud countersigned by
the Register of the Treasury. Each Of these
officers shall keep in book or books provided
for the purpose, separate, full, and accurate ac-
counts, showing the number, date, amount and
-rzss-of interest Of each treasury note signed
and countersigned by them respectively; and
also similar accounts showing all such notes
which may be paid, redeemed, and cancelled,
~ the same may be returned; all which &C.
counts shall be carefully preserved in the
Treasury Department And the Treasurer
shall account quarterly for all such treasury
notes as shall have been countersigned by the
Register and delivered to the Treasurer for
issue.
Sec. A. And be IL further enacted, That the
Secretary Of the Treasury is hereby authorized,
with the appreciation OF the President to cause
such portion Of said treasury notes as may be
urer, in payment Of warrants in favor Of public
creditors, or other persons lawfully entitled to
payment, who may choose to receive such notes
in payment at par; and the Secretary of the
Treasury is hereby authorized, with the appro-
baton Of the President, to issue the notes here
by authorized to be issued at such rate of in
terest as may be offered by the lowest respon-
sible bidder or bidders who may agree to take
the said notes at par after public advertisement
of not less than ten days in such papers as the
President may direct, the said advertisement to
propose to issue such noces at par to those who
may offer to take the same at the lowest rate Of
interest. But in deciding upon those bids no
fraction shall be considered which may be less
than one fourth per centum per annum.
Sec. s. And be it further enacted, That said
treasury notes shall be transferable by assign
ment endorsed thereon by the person to whose
order the same may be made payable, accom-
panied together with the delivery Of the note SO
assigned.
Sec. 6. And be il. further enacted That said
treasury notes shall be received by the proper
officers in payment of all duties and taxes laid
by the authority of the United States, Of all
public lands sold by said authority, and of all
debts to the United States, OF any character
whatever, which may be due and payable al
the time when said treasury notes may be offer
payment credit shall be given for the amount
Of principal and interest due on the note oil
notes received in payment, on the day when
the same shall have been received by such Off
Ger. -...
Soc. I. And be ii further enacted, That every
collector of the customs, receiver Of public
moneys, or other officer or agent Of the United
States, who shall receive any treasury note Of
notes in payment on account of the United
States, shall take from the holder of such nott
or notes, a receipt on the back of each, stating
distinctly the date of such payment, and th'
amount allowed on such note and every sucl
officer or agent shall keep regular and speci6,
entries of all treasury notes received in pay
ment, showing the person from whom received
the number, date, aud amount Of principal ant
interest allowed on each and every treasury
note received in payment, which entries shal
be delivered to the Treasury with the treasury
note or notes mentioned therein; aud, if tount
correct, such officer or agent shall receive credi
for the amount, as provided in the sixth section
of this act
Sec. 8. And be ii further enacted, That tn
Secretary of the Treasury be, and hereby is
authorized to make and issue from time to tim
snch instructions, rules, and regulations, to tn
several collectors, receivers, depositsres, an,
all others who may be required to receive sucl
treasury notes in behalf Of, and as agents in an
capacity for the United States, as to the Gus
tody, disposal, canceling, and return of an
such notes as may be paid to and received b
them respectively, and as to the accounts au'
returns to be made to the Treasury Departmen
Of such receipts, as he shall deem best calculs
ted to promote the public convenience and sc
curity, and to protect the United States, as wei
as individuals, from fraud ard loss.
Sec. 8. And be il further enacted That tn,
Secretary of the Treasury be, and hereby is
authorized and directed to cause to be pai,
the principal and interest of such treasur