Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-12-07

paymaster shall, upon ms appointment enleT
into bonds in the amount of ten thousand dollars,
with least two good and sufficient securities for
the faithful performance of his duties, and that as
sistant paymasters shall have rank ana Pfece9ence
with assistant geons not passed. and that all APP
pontments to fill vacancies in the corps OF payn9s
tiers shall be made by regular promotion from the
list of assistant pAymasters.
Sec. g. And be it further enacted, That within six
months after the expiration of the present insurrec
ters shall be reduced to the number Of seYenty-vo
in the whole.
Approved, July II, 1861.
GPUBuc-No. 81
AN ACT to authorize National Loan and for
other purposes.
Be it enacted by the Senate and House of Repre-
sentatves of the United States of America in Con-
cress assembled That the Secretary of the Treasury
be and he is hereby authorized to borrow, on the
credit of the United States, within twelve months
from the passage of this act, a sum not exceeding
two hundred and fifty millions of dollars, or SO much
thereof he may deem necessary for the public SER
vice. for which he is authorized TO issue coupon
bonds registered bonds Treasury notes in such
proportions of each as he may deem advisable; the
bonds bear interest not exceeding seven per cent
per annum, payable semiannualy. lrredeemaDe Tor
twenty years, and after that period redeemHOle at
the pleasure Of the United States and the Treasury
notes to be of any denomination fixed by the Secre.
tary of the Treasury not less than fifty dollars and
to be payable three years after date, with interest
Mt the rate ofseyen and three tents per centum per
Rnnun.. payable semfunnuHlly. And the Secretary
of the Treasury may also issue in exchange for colt"
and as part the above loan may pay for SALARIES
II
Of less denomination than fifty dollars not bearing
interest, but payable on demand by the Assistant
Treasurers of the United States at philadelphia New
York or Boston, Treasury notes bearing interest
at the rate of three and siXty-ive hundredths per
centum, payable in year from date, and eXchanE-
able at any time for Treasury notes for fifty dollars
and upwards, issuabe under the authority OF this
act, and bearing interest specified above: PrnvI-
,Ied That no exchange of such notes in any less
amount than one hundred dollars shall be made at
any one time: And provided further That II"
Treasury notes shall he issued of less denominai ion
IL. Ntlr
Treasury notes. bearing interest, issued under the
authority of this act, shall not exceed fifty millions
Sec . And be it further enacted, That the Trea-
smry notes and bonds issued under the provisions III
this shall be signed by the First or Second Comp
troller the Register of the Treasury ana counter
signed by such other officer or officers OF the Treas
ury as the Secretary of the Treasury may designatc
and all such obligations. of the denomination of fifty
dollars and upwards shall be issued under the seal
of the Treasury Department. The registered bonds
on delivery of the certificate and the coupon bonds
and Treasury shall be transferable on delivery
The interest coupons may be signed by such person
or PERSONS executed in such manner. as may be
designated by the Secretary OF the treasury WI"
shall fix the compensation for the same
Sec 3. And be it further enacted, That the Score
tary of the Treasury shall cause books to be opened
for subscription to the Treasury notes for my dol
and upwards, at such places as h" may designate
in the United States, and under such rules ana rE-
lations as he may prescribe. to be superintendent by
the assistant reasurers OF the United states at Their
rcspective localities and other places by suCh de-
lOstories postmasters. ard other persons as lac may
designate notice thereof being given in at least two
daily papers of this city. and i'll one or more public
newspapers published in the several places where
subscription books may b0Opened; and SUBSCRIPTIONS
for such may he received from all persons via
may desire subscribe any law to the contrary not
wthstanding: and II n larger amount snail De sun
scribed in the aggregate than is required at one time
the Secretary of the Treasury is authorized To- re-
ccive the same, should he deem II advantageous l"
the public interest; and If not he shall accept the
amount required 10y giving the preference t" til"
smaller subscriptions and the Secretary Of the
!
officers or others designated for receiving snd sub
scrptons: Provided, That, for performing this or
any other dnty in connection with this act. no c0n-
pensation for services rendered shall be allowed or
paid any public officer whose salary is established
by laS aud tho Secretary G he Treasury may Als
make snch other rules ar, equations as ne may
deem expcdient touching tho instalment 10 be paid
ON any subscription Mt the time OF suDscriDins' AMI
further payments by instruments or otherwise. ann
penalties for non-payment of any instrument AMI
also concerning the receipt deposit, and safe keep
ing of money received from such subscriptions unit
| the be placed in the possession Of official
repositories of the Treasury, any law laws la the
| contrary notwithstanding And the Secretary al
the Treasury ia also authorized if he shall deem
cXpedient, before opening books OF subscription ~
above provided, to exchange for coin or pay for
public dues for Treasury notes of the issue OF
| twenty third of December, eighteen hundred and
! ffty-seven and FILLING due the thirteth of June.
! eighteen hundred and sixty-One, or for Treasury
notes issued and taken in exchange for such notes
any of said Treasury notes for nifty d"llaIs
or upwards not exceeding one hundred millions OF
Sec. H. And be it further enacted, That, before
awarding any portion of the loan in bonds author
lied by this the Secretary of the Treasury if c
deem advisable to issue proposals for the same i'll
the United States, shall give not less than fifteen
days public notice in two or more OF the public
newspapers in the city of Washington, and in such
other places of the United States as lie may deem
advisable, designating the amount of such loan the
place and the time up to which sealed proposals will
lie received for the the periods for the payment
and the amount of each instalmeut in which it is
to be paid aud the penalty for tho non-payment Of
any such instruments, and when and where such lr"
posals shall be opened in the presence of such per-
sons he may choose to attendi and the Secretary
of the Treasury is authorized to accept the most ia
vorable proposals offered by responsible bidders
Provided That offer shall be accepted at less than
par,
tary OF the Treasury may, If he deem It advisable
hundred millions of dollars, in any foreign Cou
try, and payable at any designated place, either j"
the UIted States or In Europe, and may issue rosis-
tered or coupon bonds for the amount thus negotin
ted agreea6y to the provisions of this act bearing
interest payable uemi-aunuay, either in the Unitc
States at any designated place in Europe; and lie
Is further authorized to appoint such agentor agents
rs he may deem necessary for negotiating such loan
under his Instructions and for paying the interest
on the same, and to fix the compensation of sucl
agent agents, and shall prescribe to them all the
rules, regulations, and modes under which such loan
shall be negotiated, and shall have power to fix the
rate of exchange at which the principal shall be
ceiYed 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.
&c., 8. And be 1t further enacted, That whenever
any Treasury notes. of denomination less than fifty
dollars authorized to be issued by this act shall have
been redeemed, tho Secretary Of the Treasury may
reissue the Eame. may cancel them and ibsue now
notes to an equal amounti Provided, That the aE-
gregate amount of bonds and Treasury notes issued
Under the foregoing provisions of this act shall
exceed tho fnll amount authorized by tho first
tion of this act and the power 10 Issue or reissue
such moi shRll and determine after the thirty
| frct Of December eighteen hundred and rixty-two.
Seo T. And be 1t further enacted, That tho Score
tary Of tbo Treasury !; hereby authorised WHENEVER