Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-09-06

/ SEC 8 Aud be il further enacted. That within six
months after the expiration Of the present insurrec
ton the corps u paymasters and assistant Eaynlas
tiers shall be reduced to the number Of sevcHty-hTe
Approved. July Il. 1851.
IPUP1c-No. ST.
AN ACT to authorize National Loan and for
other purposes.
/ lie it enacted by the Senate and House Of Repre-
sentaIiveS If the United States Of America in Con
Erc-s assembled, That the Secretary Of the Treasury
lie and he l. hereby authorized 10 borrow, on the
r-e4ii of the United states. within twelve months
from the passage Of this act not exceeding
hundred and fifty millions Of dollars or 50 much
thereof he may deem necessary for the public ser
vice. tor which he i authorized I" issue coupon
bonds, Unregistered bonds CT Treasury noie III sneh
proportions of each as he may deem advisable: The
bonds 10 interest not exceeding per cent
Per annum payable senIi-annuaLly. lrredeentie Tor
twenty years. and after that peTiOl redeemAble at
the pleasure OF The UTitc! States: and the Treasury
notes 10 be Of any denomination HNed by the SeSTe-
tary Of the Treasury. less than fifty dollars and
To payable three years after date. with Interest
nj the rate cfseven and threetcrths per centum per
aunuu.. paFable seIniannuay. And the Secretary
tf the Treasury also issue in exchange for coin
and part Of the above loan. may pay tor salaries
other dues from tLe United states. Treasury notes
VI i less denomination than nifty dCi!a;- not hearing
interest, but payable demand by the Assistant
Tre.asurers Of the United States at Philadelphia New
OTk OF Boston, OF treasury notes bearing interest
q the rae Of three and siNty-hTe hundrcutts per
ceutuLl. payable in year from date. ami exchange
able at any time for Treasury notes Tor nifty dollars
and upwards. iesUable under the authority Of this
act and bearing interest a. specified aboye Pruyi-
del! Thai NO exchange Of such notes ia any less
amount than one hundred dollars shall be made III
any time: And Provided further, That no
Treasury -hali be issued Of less denomination
than ten dollars, and ;hat the whole amount Of
Treasury notes, not bearing interest i='ed under the
authority Of this act, shall! not exceed nifty millions
sec . And be it further euacted, That the Trca-
sIIry and bonds Issued under the provisions Of
this shall be signed by the First second Comp
fTul!er, The Register Of the Treasury ana counter
by such ether tilrgr GiiGeFs lGts--
ry the Secretary Of the Treasury may des!gnaie
aUL all such obligations Of the denomination fifty
dollars and upwards. shall be Issued under the seal
OF the Treasury Department. The registered bonds
si3 be transferable on tl!e books of the Treasury
delivery of the certificate. and the coupon bonds
aud Treasury notes shall be transferable delivery.
The interest coupons Inay be signed by such person
or PERSONS or exc, ut,d in such manner. may he
designated by tile Secretary OF The Treasury, who
shall fix the compensation for the same.
Sec J. And be it further enacted. That the SecTe-
tary Of the Treasury shall cause books to be opened
for subscription to the Treasury notes for hty dol
lars aud upwards at such places As h" may designate
in the United States and under such rules and rcgu-
latious AS he may prescribe. be superintendent by
the assistant of the United States at their
respective localities and other places by such de
pu.Vries. p1stua-tcr and other persons rs he may
designate. notice thereof being given in at least two
daily papers OF this city, and in more public
newspapers published III the several places where
subscription books may beopened: and subscriptions
for such notes may h received from all peTsOus who
may desire 10 subscribe any law 10 hecshiTry not
withsthndng; aud II a larger amount shIl DC SUI
crbed in the gregate THANH required at one time
the Secretary Of the Treasury is authorized to re-.
cetv" tile same should hc GeeiH u advantageous l."
the public interest," and II not he shall accept the
amount required by giving the preference IL the
smaller subscriptions; and the secretary Of the
Treasury shall fix the cOmpeu Htiuu- Of the public
officers others designated Tor receiving said sub
scriptiUms Provided, That, for psIioruiuS this or
any other duty in COnneXiOn with this act, com
pensatOn for services rendered shall be allowed or
paid to any public officer whose salary is established
by law; and the Secretary Of the Treasury may also
make such other rules and regulations as he may
deem eXpedient touching the instalmeUt I" he paid
any subscription at the time Of subscribing, and
further payments 10y instalmtnt or otherwise ana
penalties for nOn-Isgyment Of SnS instalment and
ais concerning the receipt. deposit. and safe keep
in= If money received from such subscriptions, Uit
,hc be placed ia the possession Of official
repositories Of the Treasury law laws 10 the
! contrary Notwithstanding. And the Secretary OF
the Treasury also authorized. ii lac shall deem il
eNpcdieut, before opening books u subscription Is
above provided, to exchange for coin or pay Tor
public dues for Treasury notes Of the issue oi
twcuty-thirh Of December, eighteen hundred and
iy-seven, and falling due the thrtietl! of June.
eighteen hundred and siXty-one, or for Treasury
notes issued and taken III exchange or such iSitS
any aInou"t Of said Treasury notes for nifty dollars
or upwards not exceeding one hundred millions Of
Sec. !. And he It further enacted. That. before
awarding any portion Of the loan in bonds author
lied by this act the Secretary of the Treasury. il
deem it advisable 10 issue proposals for the same III
the Uuited States, slall give not less than fifteen
days public notice i'll two or more of the public
=Iapers IN the city Of Washington, and in such
other places Of the United States as he may deem
advisable designating the amount If such loan. the
be received for the same the periods Tor the payment
and the amount of each iIistalment in which il is
to lie paid and the penalty for the nou-payment Vi
any such instruments and when and where such pro-
posHls shall Ls opened i'll the presence of such per-
as he may choose to attend; and the Secretary
OF the Treasury i authorized to accept the most IL
V"r.tl.lc proposals offered by responsible bidders
Provided, That offer shall be accepted at less than
par.
Sec. 8. And be it further enacted That the Secre-
tary Of the Treasury Inay. if he deem it advisable
negotiate any portion of said loan, not exceeding
try. and payable at any designated place. either in
the United States in Europe and may Issue regis
tered coupon bonds for the amount thus nesotia-
ted aGreeably to the provisions of this act bearing
interest payable seni-annUaily, either IN the United
States ut any designated place in Europe; and he
is further authorized TO appoint such agent or agent'
as he may deem necessary for negotiating such loan
under his instructions, and for paying the interest
on the same, and to Xix the compensation of such
agent or 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
ratio Of exchange at which the principal shall be re-
eeived from the contractors for the loan, and the
change for the payment Of the principal and inter
est in Europe shall be at tho same rate.
Sec. 8. And be il further enacted, That Whenever
any Treasury notes, Of denomination less than fifty
dollars authorized TO he issued by this act shall have
been redeemed, the Secretary OF the treasury may
reissue the same or may cancel them and Issue new
notes to an equal amount: Provided, That the ag
EreEate amount Of bonds and Treasury notes issued
under the foregoing provisions Of this act shall
exceed the fall amount authorized by tho first sec
tioh Of this act! and tho power 10 Issue or reissue
such not tshail cease and determine after the thirty
first Of December, eighteen hundred and sixty-twO.
Sec. I. And be it further enacted, That the Secrc
tSr Of the Treasury hereby authorized, whenever
lie shall deculit eXpedent, to issue in exchange for
coin, or in payment for public dues Treasury notes
Of any Of the denominations hereinbefore specified
bearing interest not exceeding six per centum per
anDun, and payable at any time not exceeding
twelve months from date, provided that the amount
Of notes 90 issued or paid shall at time exceed
twenty millions Of dollars
Sec 8. And be 1t further enacted, That the Score.
tary OF the Treasury shall report to Congress- mme
dietuly after the commencement Of the next session
the amount he has borrowed under the provisions OF
this act, OF whom and on what terms, with alb
street OF ell the proposals, designating those that
svS been accepted and those that have been reject
Cd and the amount Of bonds Treasury notes that
have been issued for the same.