Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-09-23

See. c. And he it further enacted, That within six
months after the exprati Of the present insurrec
iers shall be reduced to the number of seyentytve
in the whole.
Approved, July IL, 1861.
[PuDuc-No. 81
AN ACT to authorize u National Loan and for
other purposes.
Be ii enacted by the Senate and House of Repre-
scntatves of tile United States of America in Con-
lie and he il hereby authorized to borrow, on the
credit Of the United States, within twelve months
from the passage Of this act, sum not eNceeding
thereof he may deem necessary Tor the public ser
vice. for which he is authorized 10 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
Der Runum payuble seInianuually, iTredeemable Tor
twenty wears. and after that period rcteemablc ut
the pleasure of the United States: and the Treasury
notes to be of any denomination fixed by the SCcrc-
tary of the Treasury, not less than fifty dollars and
to lie payable three years after date. with Interest
at the fseven and threetcntls per celtun per
,lnnmm, payable semi-annunlly. And the Secretary
vi the Treasury also issue i'll exchange Tor cOi
and as part Of the above loan may pay Tor salaries
or other dues from the United States Treasury notes
OF less denomination tnn itty dollars, not bearing
interest, but payable on demand 10y the Assistant
Of the United States al PlIiadepiiI- New
York or Boston. Treasury notes bearing interest
ut the rate OF three and siXty-hve hnndredtts per
centun payable in year from date, and eXcinng-
able at any time iUr Treasury notes Tor fifty dollars
and upwa. d.. issuabe under the authority OF thus
act. nd bearing interest as specified abONc PrCH-
dcd, That no exchange Of such nUteS i'll any less
amount than hundred dollars shall lie made ut
any one time: And provided further That n"
Treasury notes shall he Issued UfH less denomination
than ten dollars, and that the whole amount Ui
Treasury notes. not bearing interest issued under Tia"
authority of this act, shall not exceed MY millions
Sec. . And be it further enacted, That the Trea-
sury notes and bonds issued under the provisions OF
this shall be signed lay te First uT Second Coup
truer or tile KegstcrU Of the Treasury. and counter
signed by such other UIIer or officers OF the Treas
,ry as tile Secretary of the Treasury may designatc
and ali such obligations. OF the denomination Of fifty
dollars and upwards shall be Issued nn'icr the seal
of the Treasury Department. Tie Registered bonds
sInil Ice transferable the books Ot the Treasury
un delivery Of the certificate ana the coupon bonds
ans. Treasury notes shall be transferable Oh delivery
The interest coupons may be signed by such person
or persons. or executed III sHcI Ii'ahicr as may he
Sgn.Itud 10y the Secretary Of the Treasury, who
shall Tx the compensation for the same.
Sec. >. And b. It further enacted. That the Sccre-
tnry tile Treasury shall books to be Opcne,
subscription to the Treasury notes for my dol
lars and upwards at such pCcs as ia may designate
in the United States and under such rules anu resI
lniious he may prccrLc. t" be 7urerintcnocd by
tire trestsuTers of te United states at their
respective localities. and at other places by such de-
positurcS. pUstIn;Stcis and other persons a lie may
designate, IiutiCc thereof hciug given i'll ut least two
daily papers of this city, and in or more public
newspapers published III the several places Where
subscription books may bcuppncd: and subscriptions
for such notes may he received from all persons VIII"
may desire subscribe any law to the contrary not
withdrawing; and IL larger amount Shall DC Sl-
scrbe in the aggregate than is required at one time,
the Secretary Of the TrSasury is authorized to r.
Crivc the sImc should he deem II advantageous To
the public Interest; and II not lie shall accept Inc
amount required by giving the preference I" The
smaller subscriptions: and the Secretary of the
Treasury shall iiN the cOInpen .atiuns of the public
officers others designated for receiving said sub
scTiptDns: Provided, That, for pertaining this nT
any other duty in connection with this act no COM
Iensatiun for services rendered shall Ice allowed or
paid any public officer Whose salary is established
10y Laws AID the Secretary he Treasury may also
! make such other rules ar equations hS lie may
dccm cNpcdient touching thv lnsthncnt 70 he pam
any subscription at the time of subscribing, and
further payments 10y instalmCnts or otherwise, aud
UcIialtics for nUn-pnyuIent of any instlnent. and
also concerning the receipt, deposit, and saie keep
ing cT money received TTnm such subscriptions, until
the be- placed in the possession OF official
dcpo-tOrics of the Treasury, any law or laws In the
contrary notwithstanding. And the Secretary OF
the Treasury is also authorized II he shall deem il
eNpedient, before opening books ui subscription rs
above provided, to exchange for coin IAy for
public dues for Treasury notes of the issue nt
| twenfy-tlIir of December, eighteen hundred and
ity--cveT and falling due the thirticth Ut June.
| ightcrn hundred and siXty-unc, or for Treasury
notes issued and taken in exchange for such notes,
any amount of said Treasury notes for hitY dollars
or upwards not exceeding one hundred millions oil
dollars.
src J. And lie it further enacted. That before
awarding any portion Of the loan Ill bonds "utn"r-
lied BY this act, the Secretary of the Treasury II lie
ducu it advisable to issue proposals for the same in
the Uutcd States, shall give not less than fifteen
| days public notice in two 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 which scaled proposals will
Lee received for the same, the periods for the paymcnt
aud the amount UT each imstalmcnt III which il is
To- lie paid and the penalty for the nOI-paynent OF
any such instruments and wien and where such pro-
puss shall hs opened in the presence of such per-
sons he may choose To attend; and the Secretary
of the Treasury is authorized to accept the most l-
vnrIhlc proposals offered 10y responsible bidders
Provided, That offer shall lie accepted at less than
par.
tary Of the Treasury may, if lie deem it advisable
negotiate any portion "i said loan, not exceeding
one hundred millions NJ dnar-. in any foreign conn
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 nCEotin
ted aGrCeably to the provisions Of this act bearing
interest payable scnannuay. either in the Unit Cd
States any designated place in Europe; and ht
Is further authorized tu appoint such agcntOr Hgent
rs lie uRN deem Necessary for negotiating suCl' OaT
under his Instructions and for paying tho interest
on the same, and to fix the compensation oT such
agent agents, and Ehnl prescribe to them all tn,
rncs, regulations, and modes under which such LOAF
shall lie negotiated, and shall have power To fix tn,
rate Of exchange at which the principal shall he re-
CCived from the contractors for the lu and the OK
change fur the payment of the principal and inter
est IN Europe shall bc at the same rate.
Sec. q. And be 1t further enacted. That Whenever
any Treasury notes, of denomination less than fttN
dollars, authorized to bC s8uCt by this act siHlI have
beeH redeemed, tho Secretary of the Treasury may
nntes to an equal amount: Provided. That the ag
ErcEAtc amount of bonds and Treasury notes Issued
under the foregoing provisions vf this act shall nevc
exceed the full amount authorized by the first sec
tion Of this acts and the power to sEue or REISSUE
such not yehRll cease and determine aeTthe thirty
RTst of December, eighteen hundred and HiNty-twO.
Sec. Z, And be it further enacted, That the Score
tRry uf the Treasury Is hereby authorized, wherever
be shall deem It eNpedicnt, TO is5ue in exchange iu
coin, or IN payment for public dues Treasury note
Of any Of the denominations heTeinbeEure specified
bearing intefest not exceeding six per centum pei
anhunI, and payable ut any time not exceeding
twelve nlouths rum date, provided that the amount
Of notes 10 Issued or paid shall at time uxcee,
twenty millions Of dollars.
Sec 8. And be il further enacted, That the Score
tary Of the Treasury shall report 10 Congress Inine
dRtSly AftET the commencement Of the next session
the amount no has borrowed under the provisions o
this act, Of whom and on what terms, with an all
Atract Of all the proposals, designating those tina
have been accepted and those that have been reject
ed and the amount Of bonds or Treasury notes tina
L -. Ia. En.A liz.