Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-12-21
.pproved, July II, 1861.

tion the corps Of paymasters and assistant payn"s
tiers shall be reduced to the number of seventy-nvc
Approved, July II, 1861.
lPURIIc-No. 81
AN ACT to authorize National Loan and for
other purposes.
| Be it enacted by the Senate and House of Repre-
sentatives Of the United states Of America in Con-
grcSs assembled, That the secretary Vf the Treasury
| lie Hud he is hereby authorized to borrow on the
credit Of the United States, within twelve months
from the passage Of this act, sum not exceeding
two unred and fifty millions Of do. lars. or much
thereof lie may deem necessary for the public
| vice. for which he is authorized 10 ieswe coupon
bonds registered bonds, OF Treasury notes in such
proportions of each aH he may deem advtrAUle Tie
bonds to heiI interest not exceeding seNcn per cent.
per nnnum. payable semi-Humuuily, irredeemabe iUr
enty yeHI aud after that period redeeuRble ut
the plea ure OF The United Stirs anu the IlclsuTS
notes 10 be Of any denomination fixed by the SccT'-
Rry of the Treasury not less than hfy dollars ana
TO he payable three years after date. with interest
the ate ufscvGn aud threetenths per centum per
uunun. payable SeniannIially. Aud the SeCle tary
If the Treasury also issue in exchange Tor COLT
und part tie above iOun. may pay tor sIlnrits
ct other dues from the United states Treasury notes
uf a less denomination lImn NIFTY dollars. bearing
! Interest. but payable un demand by the Assistant
Tre:IsuTeTs Of the United States at Philadelphia New
| York I:ust"u. Treasury notes bearing interest
ut the rate of three and slXty-hre hnndTcdtls per
centuuI. payable in year nom date and eXchtmE-
nb any for Treasury notes tor fifty dOllals
and upwa d- issmaLc under the authority VI this
aud bearing interest ~ specified above: fruvl'
tleI Tint exchange OF such notes III any less
amount than one hundred dollars shall lie maze nj
any one tine: Anu provided further. I hat ~"
reasury shall lee issued u less denomination
! Than ten dollars. and that the whole amount at
Treasury nuIes. not bearing interest lhsurd under tc
authority of his act. shall not exceed NIFTY mlIiIOhh
\ Of dollars.
! Sec = And be it further enacted. That the Trc;l-
snrS aud bUrds issued umde the provisions "t
this shall hr signed hy the First eCUId Comp
ruIl.r ar the isrur of the Treasury and cuIIncr
sgmc by such Other off. officers of The Treas
Ury the secretary OF the Treasury may designate;
aud ali such obligations. "i he decentralization Of hty
!
of the Treasury Department The register ell bonds
sliII Lo transferable the books vi the treasury
Un delivery Of the certificate. aud the coupon hUnhs
and Treasury notes shall lie transfer able "i' delivery
The interest coupons may he signed 10y such person
ar persons, ur cXe uI i'll such n"IlIer' n" may he
designated 10y The Secretary vi tlr TIPabnTy, wlp
| shall fN the compensation tor the same
| Sec. s aud be II further enacted That the Score.
tary {" the Treasury slIMi cnse books to le opened
fnr subscription IT. the Treasury notes Tor NIL! dol
lars aud upwards at such places az Il" may dGsgnair
in the United states and under suc rules and regu-
IaiIIS he may prescribe. to be superintendent 10y
the assistant Ui the United suites at their
respective l,,cu les and nj other places by such
-iOTits masters and UIheI persons ns lie nnE
designate. notice thereof LcIng given i'll at least w"
daily papers Of this city, and in one or more public
| newspapers published in the several places whcr"
subscription books benpened: aud subscriptions
for ucil may he received from all per,Uns wis
may desire To subs ribe any law To the ntrary not
understandings aid ii II larger amount Shall lie sub
scrIhed IL the Iregatc than is required ut tir
the secretary of the Treasury Is authorized 10 r."
ceive the same should lle deem IL advantageous u
the public interest; and il rot. lie slHll accept Til!
nmUnnt required by giving the preteience TO III d
smaller subscriptions; ami the Secretary OF th
Treasury shah iiN the CUnlCn nliunE OF the pmb,ii
officers Others designated receiving suid sui
srriptiune: Provided. That, for y rfDrming this
any other duty in cunnvXi"n with this act. com
pensatiun EIT services rendered shall he allowed
10y law; d the secretary he Treasury may Rie
make such other rules ar equations as lie Ma
deem eapcdient touching tho in talmemt to be pal
ON any subscription mt the time of subscribing M
further payments Icy instalu nts or otherwise All
penalties for nun-payment Of amy instalnent; an
also concerning the receipt, deposit and safe keel
ing If mon-y received from such Subscr ptnms. unit
the be placed il the possession OF of1ic;
repositories of the Treasury, any law OF laws to l
contrary Notwithstanding And the Secretary
the Treasury is also authorized, il he shall deem
eXpedent. before opening books o subscription
above provided. 10 exchange Tor con- or pay II
public dues for Treasury notes of the issue
twrnt y-tlrd Of december, eighteen hundred an,
hity-sevcn, and falling due on the thrtIeth OF Jun
ghteen hundred and siXty-one, or for 1reaeuI
notes issued and taken in exchange for such note
any amount OF said Treasury notes for fifty dollar
or upwards not exceeding one hundred millions
Sec 4. And he II further enacted That befol
! awarding any portion of the loan in bonds author
lied by this act. the Secretary Of tho treasury. il /
deem it advisable TO issue proposals. for the same
| the Uuited States. oha give not less than tfiec
days public notice IN two or more OF the publ
newspapers in the city of Washington, and in suc'
other places Of the Uniteu States as he may deei
advisable, designating the amount Of such loan H.
place and the time up to which sealed proposals vi
e received for the same the periods for the paynel
ind the amount of each instalment in which il
To be paid, aud the penalty for the payment
any such instalnents. aud when sud where such pr
pUsals shall by opened in the presence of such pc,
sons as he may choose to attend and the SecreIaI
uf the Treasury is authorized to accept the most In
Yurable proposals offered by responsible bidder
Provided That offer shall Ge accepted at less tia
| par.
Sec 8. And be it further enacted. That the Seer
/ tHry of the Treasury may, if he deem it advisable
negotiate any portion of said loan. not exceedim
one hundred millions of dollars. in any foreign
try, and payable Mt any designated place either
the United States or in Europe. and may Issue reg
tered or coupon bonds for the amount thus negntiI
interest payable semannua ~, either in the Unite
States al any designated place in Europe; and l.
Is further authorized TO appoint such agent agen,
s he may deem necessary for negotiating such loa
Under his instructions and for paying the intere,
ON the same, and to fix the compensation of sue
agent agents, and shall prescribe them all tbs;
rules. regulations. and modes under which such oa
shall be negotiated, and shall have power to fix Il
rate Of exchange at which the principal shall he r,
ceved from the contractors for the ORn and the e!
change for the payment of the principal and int.
/, sst in Europe shall be at the same rate.
Sec. g.. And be 1t further enacted. That whsnevti
any Treasury notes. Of denomination less than it,
nilars authorized be issued by this act shal ha,
been redeemed the Secretary of the Treasury
reissne the same. or may cancel them and issue me-
nOteB to an equal amount: Provided. That the al,
gregate amount Of bonds and Treasury notes issue
under the foregoing provisions Of this act shall newt
UxCeed the fIll amount authorized by the first
ton Of this act; and the power to iSsue or reosu
such not Ehal cease and determine after the thirt,
! 1rot Of December, eighteen hundred and eSty-two.
Sec. z. And be IL further enacted, That the Beer.
tRry Of the Treasury is hereby authorized. whonev
| he shall deem II expedent. to issue In change f
coin, or In payment for public duss TIE .sury not
! OF any Of this denominations hsrOinbefore rpccAS
anrurn, and payable at any tim6 not 0rceoaIn
tvslvb months nom date, provided that tho amuul
81 notss ~ lasted or paid ahsll At no time eHEet
| twenty nIllions Of d0llRFs,
SEQ, 8, And TO II hirthGe enacted. That tho eecr,
tSrS 81 tbs Treasury ahGil report 20 Congress- r1nr
dihteit Ef.5r the commencement Of the next sSEalo
The amount DO has borrowed under this pToSiEIons u
ihis act, 81 Sllutp Ahd tn what lsFTDh with m al
stfaet OF al the pFcrsalS. Designating tGsU lbI
hays kceU ArctrIkl aud those that have teen FEtH
cd. and the amount Of bepds OF Treasury uoieh thl
have b1En issued fpf lSs FSWe