Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-09-20

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Sec. s. Aud be It further enacted, That cach as
paymaster shall, upon his appointment enter
into bonds in the amount of ten thousand dollars,
with least two good and sufficient securities for
the faithful performance of his duties, and that as
sistant paymasters shall have rank aud precedence
with assistant SUI geons not passed and that all ap
p0intments to fill vacancies in the corps 0f payus-
tiers shall be made by regular promotion from the
| list Of assistant 1aymastcTs.
months after the xPratian Of the present inSurrec-
ton the corps Of paymasters and assistant Paynas
tiers shall be reduced to the number oil SeEeny-nNe
Approved, July Il, 1861.
tPuBHC-No. ST.
AN ACT to authorize National Loan and for
other purposes.
Be it enacted by the Senate and House Of Repre-
seutaIiVes Of the United States Of America in Con-
ress Assem- bed That the Secretary Of the Treasury
lie and 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 hundred and fifty millions of dollars, or SO much
thereof as he may deem necessary for the public SER
vice, for which he is authorized to issue coupon
bonds registered bonds or Treasury notes in such
proportions of each as he may deem advisable; the
bonds bear interest not exceeding seven per cent
per payable semi-annually, irredeenIabe Tor
twenty years. and after tlItt period redeemable at
the pleasure of the United States; and the Treasury
notes to be Of any denomination fixed by the Secre-
tRry of the Treasury, not less than nifty dollars ana
to he payable three years after date, with interest
the rate Of seven and threetenths per centnm per
| aumum, payable seuiannually. And the Secretary
the Issue IN GNCnnuge COl1I5
and part Of the above loan, may pay tor SALARIES
or other dues from the United States Treasury notes
Of less denomination than fty dollars, not bearing
| interest, but payable on demand by the Assistant
Treaisurers Of the Uutel States at Philadelphia. New
| York BOSTON, Treasury notes bearing interest
at the rate nf three and SXty-iye huudTCitlis per
ccntun payable in year from date, and cXclIang-
abe any time for Treasury notes for fifty dollars
aud upwards, issuablc under the authority of this
act, and bearing interest specified above: PTuYi-
de'l. That no exchange OF such notcS IA any less
amount than one hundred dollars shall bo made at
any on" time: Ard provided further That n"
| than ten dollars. and that the whole amount OF
Treasury notes. not bearing interest issued under the
authority Of this act, shall not exceed nifty millions
| Ut dollars.
Sec 2 Aud bp it further enacted. That the Urea
sury notes and bonds i-su, under the provisions Of
this shall lee signed 10y the First or Second Comp
troilcr the Register Of the Treasury. and counter
signed by such other officer officers of the Treas
ury the Secretary Of the Treasury may designate;
and all such obligations. of the denomination Of nifty
dollars and upwards shall be issued under the seal
Of the Treasury Department. The registered bonds
| shall Ice transferable on the hooks of the Treasury
delivery Of the certificate and the coupon bonds
and Treasury notes shall lee transferable on delivery
The interest coupons may be signed by such person
persons executed in such manner. as may be
designated 10y the Secretary Of the Treasury, who
| shall fix the compensation for the same.
Sec. s. And he it further enacted, That the SecTe
tary Of the Treasury shall cause books to lie opened
FOR subscription to the Treasury notes for MY dol
lars and MpWariS at Such places he may designate
in the United States and under such rules and reGu-
AtOns No he may prescribe, to be superintendrd by
the assistant treIsIIrerE Of the United states Mt their
respective localities. and Mt other places 10y such de-
IUsiturics s- tnasters and other persons lie 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 hooksnay beOpened; and subscriptions
for smell nptes NAV received from all nerEnns who
MAY desire subscribe. any law to tlIeContTary not
withstannE and il larger amount shall he Sub.
sCribcd in the aggregate than required at time
the Secretary nf the Treasury is authorized To
cciVe the same, should he deem it Advantageous {"
the public interest; and IL not. lie shall accept the
| amount required by giving the preference 10 the
! smaller subscriptions; and tho Secretary Of the
Treasury shall fix the Cnmpen nations Of the public
officers others designated for receiving said sub
scTiptiUns: Provided. That. for performing this or
| any other duty in connection with this act, COM
Icns;itiOn for services rendered shall be- allowed
raid to any public officer whose salary is established
10y law; aud the Secretary c Treasury may ais"
| make such other rules equations as lc may
deem eApedient touching the instalnIcnt To- Lee paid
any subscription at the time NJ subscribing. and
further payments by instruments or otherwise and
penalties for nUu-payment Of any insialmcnt. and
sn concerning the receipt, deposit. and safe keep
inSuf money received from such subscriptions, until
the he placed in the possession Of official
Repositories Of the Treasury, Huy law laws tu the
contrary notwithstanding. And the Secretary OF
the Treasury is also authorized, if he shall deem ii
cXpedient, before opening books Ut subscription as
above provided, to exchange for coin pay for
| public dues or for Treasury notes Of the issue of
twemt y-third of December, eighteen hundred and
ffty-scVCm. and falling due the tlrtieth of june
| eighteen Lundred and sixty-one, for Treasury
notes issued and taken In exchange for snch notes,
amy amount of said Treasury notes for fifty dollars
| or upwards not exceeding one hundred millions of
dollars
Sec !. And he it further enacted That, before
awarding any portion Of the luan in bands author
lied by this act the Secretary OF the Treasury, il lac
deem it advisable to issue proposals for the same in
the Uuited States, shall give not less than fifteen
days public notice in two or more Of the public
newspapers ia the city Of Washington and in such
other puces Of the United States as he may deem
advisable, designating the amount of such loan. the
place and the time up tn which sealed proposals will
be received for the the periods the payment
and the amount of each instalment in which it is
TO he paid, and the penalty for the nOn-payment OF
any such instruments. and when and where suc pro
pOsas shall be opened in the presence Of such per
sons as he may choose to attend and the Secretary
al the treasury authorized to accept the most tt-
vOrIble proposals offered by responsible bidders:
Provided That offer shall be accepted at less than
par.
Sec. s. Aud be it further cnacted That the Score
tary Of the Treasury may, If he deem it advisable
negotiate any portion OF said loan, not exceeding
hundred millions Of dollars in any foreign coun
try, and payable at any designated place, either in
the uited States or in Europe, and may issue regis
tered or coupon bonds for the amount thus negotia
ted agreea6ly to the provisions Of this act bearing
interest payable semiannualy either in the United
States or at any designated place in Europe; and he
is further authorized to appoint such agent OF agents
us lie may deem necessary for negotiating such loan
under his instructions and for paying the interest
! on the same, and to nix tho compensation OF such
agent agents. and shall prescribe TO them all the
rules. regulations, and modes under which such loan
sha he negotiated, and shall have power to fix the
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 it further enacted That whenever
any Treasury notes. Of denomination less than fty
dollars authorized to he Issued by this net shall have
been redeemed, the Secretary of the Treasury may
reissue the same, or may cancel them and Issue new
4 notes 70 an equal amount: Provided, That the ag
gresate amount Of bonds and Treasury notes issued
under the foregoing provisions Of this act shall mover
exceed the full amount authorized by the first
tion of this act; and the power issue reiseue
such not shall cease and determine after the thirty
i nrst Of December eighteen hundred and sixty-two
Sec. 4 And be It further enacted, That the Secrs-
taTy OF the Treasury is hereby authorized whenever
no shall deem II expedient, to issue In exchange for
coin. or in payment for public Dues Treasury notes
Of any OF the denominations herenbefore specified
bearing interest mot exceeding six per eentum per