Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-10-23

Sec G. And be il further enacted, That within SIX
months after the expiration of tho present insurrec-
zion the corps OF payfnasters and assistant paymas
tiers shall be reduced to the number Of seventyhTe
Approved, July Il, 1851.
tPUBrIc-No. 81
AN ACT to authorize a National Loan and for
other purposes.
BE II enacted by the Senate and House of Repre-
sentaiIyes 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 mouths
from the passage of this act, sum not exceeding
two hundred and fifty millions Of dollars. or SO much
thereof az he may deem necessary for the public
vice for which lie is authorized to- issue coupon
bonds registered bonds, Treasury notes. in such
proportions of each rs he may deem advisable the
bonds to bear interest not exceeding seven per cent
per annum, payable semi-aunually, irredeemabe Tor
twenty years. and after that period redeemable at
the pleasure of the United States; AMI the Treasury
notes to be Of any denomination fixed by the Secrc-
tary of the Treasury, not less than hty dollars and
| to be payable three years after date, with interest
at the rate UfscvcE and thrCc-tenhs per ccntum per
annun. parable semannunly, Aud the Secretary
Of the Treasury may also issue in exchange for coin,
and az mart OF the above loan OF 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
Treasurers Of the United States at Philadelphia New
| York Boston, or Treasury notes hearing interest
at the rate of three and sXty-hVe hundredtlls per
centum payable in one year from date anu eNGhang-
able any time for Treasury notes for fifty dollars
and upwards, issuable under the authority OF this
act, and bearing interest specified above: Provi-
ded, 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 no
Treasury notes shall be issued of less denomination
than ten dollars, and that the whole amount Of
Treasury not bearing interest issued under the
authority of this shall not exceed fifty millions
Of dollars.
| Sec ? And he it further enacted, That the Trca-
curry notes and bonds issued under the provisions Oi
this shall he signed by the First or Second Comp
trOer, the Register" of the Treasury and counter
signed by such other officer or officers Of the Treas
Ury the Secretary Of the Treasury may designate;
nud all such obligations. Of the denomination oil hitE
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
Oh delivery of the certificate and the coupon bonds
aud Treasury notes shall be transferable On delivery
The interest coupons may be signed 10y such person
or persons. executed in such manner. a. may be
designated 10y the Secretary Of the Treasury, who
| shall fix the compensation for the same
Sec 3. And be it further enacted. That the Score
tIry of the Treasury shall cause books I" he opened
for subscription the Treasury notes for fry dol
lars aud upwards sucl places lac may designate
iu the United States. and under such rules and reu-
latiuuS as he may prescribe. To Ice speTintcndcd by
the assistant Of the United states ut their
respective localities and other places by sucl de-
pOstories. posmuscrs, ard other persons a. he may
designate, notice thereof being given in at least two
daily papers of this city, and in one or more public
newspapers published in the several places where
subscription books may beOpened; aud subscriptions
for such may be received from all persons vii"
may desire to subscribe any law 10 contrary not
withNthndiug; anu u larger amount shaii De sun
cribed in the aggregate than required ut one time,
the Secretary of the Treasury is authorized 10
Crivc the same, should lac deem 1t advantageous t.
tie public interest: and if not. lie shall accept the
! amount required by giving the preference L. the
! smaller subscriptions; and the Secretary oil the
Treasury shall fix the corporations Of the public
officers others designated for receiving said sub
scriptiuns: Provided, That, for performing this or
any other duty in ConneNiun with This act. no COM
pensltiOn for services rendered shall be allowed
maid any public officer whose salary i established
by law; and the secretary C he Treasury may also
| make such other rules ar. equations a. lac may
deem eNpcdient touching the instalrnent {" Ice paid
on any subscription at the time of subscribing and
further payments by instruments or otherwise and
penalties for nun-pAyment of any instalment, and
also concerning tile receipt, deposit, and safe keep
iu OF money received from such until
the same can be placed in the possession of official
repositories of the Treasury any law laws t" the
contrary Notwithstanding And the Secretary OF
the Treasury is also authorized, II lac shall deem it
eNpedient, before opening books OF subscription
| above provided, to exchange for coin or pay for
public dues or for Treasury notes Of the issue of
twenty-third of December, eighteen hundred and
ftty-seYen and falling due on the thTtic;h Of June,
| ghteen hundred and siXty-Unc, or for Treasury
notes issued and taken III exchange Tor such notes
any amount Of said Treasury notes for fifty dollars
upwards not exceeding one hundred millions Of
dollars.
| Sec. l. And be it further enacted. That, before
awarding any portion Of the loan in bonds author
Zed by this act the Secretary OF the Treasury if lac
deem IT advisable TO issue proposals for the same in
the Uuited States shall give not less than hiicen
| days public notice in two more OF the public
newspapers in the city Of Washington, ard in such
other places Of the United States as lie may decm
advisable. designating the amount Of such loan. the
place and the time up to which sealed proposals will
he received for the same. the periods for the payment
and the amount Of each nstalment in which it is
to be paid. and the penalty for the uon-pnyment Of
any such instruments, and when and where such pro-
posals shall he opened in the presence of such per-
sons he may choose TO Rttend and the Secretary
Of the Treasury il authorized to accent the most IA
vorable proposals offered by responsible bidders:
Provided That offer shall be accepted at less than
par.
tary 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
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 negotia-
ted agreeably to the provisions of this act, bearing
interest payable semi-anuualy, either in the United
States or at any designated place in Europe: and lie
is further authorized appoint such agent or agents
under his instructions and for paving the interest
| on the same, and to fix the compensation of such
agent or agents. and shall prescribe to them all the
rules, regulations, and modes under which such loan
shall DO negotiated, and shall have power to fix 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-
est in Europe shall be At the same rate.
| Sec. g. And be il further enacted, That whenever
any Treasury notes, Of denomination less than fifty
dollars authorized TO be issued by this shall have
been redeemed the Secretary Of the Treasury may
reissue the same or NAV cancel tksm and issue new
notes to an equal amount: Provided, That the sg
grgate amount Of bonds and Treasury notes Issued
under the foregoing provisions Of this act shall never
exceed the full amount authorized by the first
ton Of this act; and the power to issue reissue
sinai Cease teteFnl0S dlteT
first Of December, eighteen hundred and sixty-two.
Sec. I, And be it further enacted That the Secre-
aVy OF the Treasury is hereby authorized, whenever
ne EMAIL deem u expedient 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
| aununi, and payable at any time not exceeding
twelTo months from date, provided that the amount
OF Dotes 40 issued or paid shall at time exceed
| twenty millions Of dollars.
Sec. g. And be 1t further enacted, That tho Score
tnry Of the Treasury shall report to Congress, imme
dlatcy AFTER the commencement OF the session,
the amount he has borrowed under the provisions OF
this act, Of whom, and on what terms with an alb
ETact Of all the proposals, designating those that
hhvc been accepted aud those that have been reject
ed and Tho amount Of bonds Treasnry notes that