Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-10-29

iers shall be made by regular promotion from the
list of assistant pHymastcrs.
SEC g. And he it further enacted That within six
ntls after the expiration of the present tnsurrec
iir the corps of PHynIasters and assistant Paynas
rrrs shall lie reduced to the number of seVenty-hve
Approved, July IL, 1851.
[PuBuc-No. 81
| AN ACT to authorize a National Lean and for
other purposes.
IA, Il enacted by the Senate and House Of Repre-
.entaiives Of the United States Of America i'll Con-
GIcss assembled, Tint the Secretary Of the Treasury
BE- and lie is hereby authorized to borrow, on the
credit Of the United States, within twelve months
from the passage uT this act, sum not exceeding
two hundred and fifty millions of dollars or so much
thereof lie may deem necessary for the public ser
| vice. for which he is authorized 10 issue coupon
bonds, Registered bonds or Treasury notes. IN Such
| proportions Of ClCh IA he may deem hdVlsaOle' ue
bonds to bear interest not exceeding seven per cent
per Hunun payable ScInEannually, lFredtenIluc "I
twenty wears, and after TINT period rcdeehnhle At
~, asnr,. Of tho United States; and the Treasury
notes to be Of amy denomination liked by The Secre.
,ary of the Treasury, not less than hty dollars ana
to lie payabls three years after date, with interest
Mt the RATE and tbrtc-tetts per Centun per
hnrun., payable selntannualS. Anc the secretary
II the Treasury may also issue in exchange for com,
and part Of the above loan or may pay Tor 'aries
or other dues from the United states, Treasury notes
of less denomination than fifty dollats not bearing
| interest, but payable demand by the Assistant
Treasurers OF the United states at Philadelphia New
York Boston. Treasury uotcs bearing interest
| al the rate of three and sNty-fVe hundredths per
GENUINE payable in year fTn date. and eSclnnE-
i.. at AM time Treasury notes inr fifty dollars
and upwards, issuable under the authority OF this
| act and bearing interest specified above ProNt-
ei, That no exchange S' sHSh nV'sI IL my ~
amount than one hundred dollars shall be made at
| any one time: Aud provided further That no
Treasury shall be Issued Of a less denomination
| than ten dollars, and that the whole amount ol
Treasury notes, bearing interest issued under the
authority Of this act, shall NOT exceed MY millions
Sec , And be it further enacted, That tlic Treat
sury notes and bonds issued under the provisions of
| ali second
troer or the Rcgisersf the Treasury, and counter
signed by such other officer or officers OF the Treas
rrv rs the Secretary of the Treasury may designate;
and all such obligations. ufthe denomination 81 my
dollars and upwards shall be issued under the seal
of the Treasury Department. The registered bonds
shall lie transferable on the books Of the treasury
ON delivery Of the certificate and the coupon bonds
and Treasury notes shall be transferable nn delivery
The Interest coupons may be siened by such person
or persvus utctl in such nJ:et- n may be
| designated by the Secretary of the Treasury, who
/ shaIl fix the compensation ior the same.
Sec ). And be it further enacted, That the seeTe-
tary the Treasury shall cause books to be opened
subscription to the Treasury notes for my dol
lars and upwards at such places rs In may designate
in the United States, and under scl rules hnd Tegu
lntiOns he may prescribe, TO be superiniended by
the assistant treasurers oil the United states ut er
respective localities, and at other places by sch de
IostOries postmHsters aud other persons rs he may
designate notice thereof being given in at least two
daily papers of this city and III one or more pubic
! newspapers published in the several places where
subscription books may beOpened; and subscriptions
for smell notes may he received from all persons who
may desire subscribe any Law to the contrary not
| withstaudng; aud If larger amount shall be SUB
scribed IN the aggregate than is required at one time
the Secretary Of the Treasury is authorized to re-
ceive the same, should he deem 1t advantageous to
the public Interest," and IL not. lac shall accept the
amount required by giving the preference to tn. the
Treasury shall fix the compen'ations Of the public
officers or others designated for receiving said sub
SCriptions: Provided That, for Performing TINS OF
any other duty in connection with this act, COM
pensaton for services rendered shall be allowed or
raid to auy public officer whose salary is established
@lta
make such other rules ar" equations as lie may
deem expedient touching thu instaIment to be paid
any subscription at the time of subscribing, and
further payments by instalmsnts or otherwise and
penalties for nOn-payment of any instalment: anu
also concerning the receipt, deposit and sale keep,
ing of money received from such subscriptions until
the eau be placed in the possession Of official
repositories of the Treasury, any law or laws To the
contrary notwithstanding. Aud the Secretary OF
the Treasury is also authorized, il lac shall deem 1t
eSpedent, before opening books oi subscription as
al6ye provided, to exchange for coin pay for
public dues or for Treasury notes Of the issue Of
I twcnty-third of December, eighteen hundred and
ity-Seven, and falling due the thirtetiI Of june
| eighteen hundred and siXty-one, or for Treasury
notes issued and taken in exchange for such notes
any nrnOuut OF EIid Treasury notes for nifty dollars
or upwards not exceeding one hundred millions Of
/ Sec 1. And be IT further enacted, That, before
awarding any portion Of the loan in bonds author
lied by this act the Secretary of the Treasury, IL he
deem It advisable to Issue proposals for the came in
the Uuited States, shall give not less than fifteen
days public notice in two or more of the public
nsyErapers ia the city Of Washington and in such
other places Of the United States AZ he may deem
advisable, designating the amount Of such loan. the
place and the time up 10 which sealed proposals
lie received for the same, the periods for the payment
and the amount of each instalment in which 1t is
to paid, and the penalty for the non-payment of
any such instruments, and when 1nd where such pro-
POsIlH shall be opened in the presence OF such per-
MS he may choose TO attend; and the Secretary
Of the Treasury Is authorized to accept the most IA
vorable proposals. offered by responsible bidders:
Provided That offer shnll be accepted at less than
Sec. 8. And be it further enacted, That the Secre-
taFy of the Treasury may, IL he deem it advisable,
negotiate any portion of saId loan, not exceeding
one hundred millions Of dollars, in any foreign count
try, and payable Mt designated place, either in
the UIted States in Europe, and may issue regis
tered coupon bonds for the amount thus negotn=
ted Agreea6y to the provisions Of this act bearing
interest payable gemLahnuAy, either In the United
States or ut any designated place in Europe; and he
is further authorized to appoint such agent or agents
rs he may deem necessary for negotiating such loan
under his Instructions and for paying the interest
on tile came, and tn Ak 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 shRll have power TO tx the
rate Of exchange at which the principal shall be
ceived from the contractors for the loan. and the
change for the payment Of the principal and inter
J est In Europe shall be ut tho same rate.
Sec. g. And be It further enacted, That whenever
any Treasury notes, of denomination Ices than my
dollars authorized to he Issued by this act shall have
been redeemed, tho Secretary OF the Treasury may
reissue the same. may cancel them aud Issue new
notes to an equal hmounti Provided That the ag-
gresRto of bonds and Treasury notes Issued
ndeEhe foregoing provisions Of this act shall never
exceed the full amount authorized by the fret
ton oftbis Reti and the power to Issue reissue
such not shall cease and determine after the thirty
first of December, eighteen hundred and sixty-twO-
Seo z, And be It further enacted, That the Secre-
tAVy OF the Treasury ID hereby authorized, whenever
he shall deem It eXpedient, 10 issue in exchange for
coin, In payment for public dues TroahuTy notes
Of any Of tho denomipAttons hCrenhefurs specified,
bearing interest not exceeding eLX per eentnm per
Hnnum, and payable Rt any time not exceeding
twelve months from date provided that the amount
Of notes 10 BsuGd or paid shall at no time exceed
twenty millions Of dollars. 5
Sec g. And be Il further Nnnctetl, That The SpcrC-
tsry of the Treasury shall report to Congress nWa
datSiy after the commencement OF the neXt session,
the amount no has borrowed under the provisions Of
this act, Of whom, and on what terms, With an alb
GtTact Of all the proposals, designating those that
have boon accepted aud those that have been rsiect
ed, and tbs amount OF bonds Treasury notes that