Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-11-01

I % And TuTTMcT
after the expiration Of the present nsuTTec
tion the corps Of pAymasters and assistant paymas
ters shall be reduced to the number of seventy-hve
| in the whole.
approved, July IL, 1861.
[PuBuc-No. 81
AN ACT to authorize National Loan and for
other purposes.
Re- II enacted by the Senate aud House of Repre-
sentativea Of the United States Of America in Con-
rress assembled That the Secretary of the Treasury
be 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 he may deem necessary for the puouc ser
vice, for which he is authorized to issue coupon
bonds or registered bonds, Treasury notes IN such
/ PROPORTIONS of each as he may deem advisable; the
bonds To bear interest exceeding seven per cent
per annum, payable seIni-annualy, rredeemable for
twenty years, and after that period Tedeenaole at
the pleasure Of the United Sates and the Treasury
notes to be Of any denomination fixed by the Secre
tarY Of the Treasury, not less than fifty dollars. and
to he payable three years after date with interest
nj the rate of seven and threeenths per centum per
Annum, payable semi-annually. And the Secretary
If the Treasury may also issue in exchange for COIN
and as part Of above loan may pay tor salaries
CT other dues from the United States Treasury notes
of less denomination than fifty dollars. not bearing
interest, but payable on demand by the Assistant
Treasrcrs Of the United States Mt Philadelphia New
York or Boston, Treasury notes bearing interest
at the rate of three and stxty-hre hundredtis per
centum, payable in year from date. and eXchaug
able any time for Treasury notes for fifty dollars
and upwards, issUable under the authority OF this
I
| ded, That no exchange of such notes in any less
amount than One hundred dollars shall he made at
any one time; And provided further. That no
Treasury notes shall La ssued offs; cs- denomination
than ten dollars, and that the whole amount of
Treasury notes. not hearing interest, issued under the
authority OF this act, slial! not exceed my millions
uf dollars
/ Sec . Aud be it further enacted That the 1rca-
slry notes and bouds issued under the provisions of
this act shat! w.. grcd bY the First second Comp
trollcr or the RegstcT nj the Treasury and counter
signed nv such other ohccr or officers of the Treas
TrnasI n 10
and ali suCh obligations. d the denomination of fifty
tGllHEs and upwards sIall be issued uidcr the zeal
|, of the Treasury Department. The registered bonds
shall &c transferable on the books Of the Treasury
ON delivery OF tire certificate and tie coupon bonds
aud Treasury notes shall be transferable on delivery
The interest coupons may 10" signed by such person
or persons, executed in SUCH manner. as may be
designated by the Secretary OF the Treasury, who
shall fix the compensation for the same.
Sec ). And be it further enacted. That the Secre.
tary of the Treasury shall cause books to lie opened
fur subscription to the Treasury notes for fifty dol
Lara and upwards, at such plHces lac may designate
in the United States, and under such rules and reGu-
IatiOns he may prescribe. to be superintendent by
the assistant of the United States at their
respective localities and at other places by such de
Iostorics, postmastcT, ad other persons as lie may
designate notice thereof being given in at least NV"
daily papers of this city, and i'll one or more pubic
newspapers published in the several places where
subscription books may beOpened; and subscriptions
for such notes may be received from all persons who
may desire to subscribe any law TO the contrary not
withdrawing; and if larger amount shall be sub
scrbed in the aggregate than Is required at one time
the Secretary of the Treasury is authorized I" re-
ceiVe the same, should lie deem it advantageous To
the public interest; and If not. he shall accept tho
amount required by giving the preference TO the
smaller subscriptions; and the Secretary of the
Treasury shall fix the conpen atiOns Of the public
officers others designated for receiving said sub
scriptions: Provided That, for performing this or
any other duty in cOnneXOn with this act, no COM
pensatOn for services rendered shall be allowed or
paid to any public officer whose salary ts established
iy law; aud the Secretary he Treasury may also
make such other rules arr equations as he may
tleem eXpedent touching tho instalment to be paid
GfH
further payments by instalmtnts or otherwise, and
penalties for non-Payment of any instalment. and
also concerning the receipt, deposit, and safe keep
ing Of money received from such subscriptions until
the same can be placed in the possession at official
repositories oil tine treasury any law OF laws 70 the
contrary Notwithstanding. And the Secretary OF
the Treasury is also authorized, il he shall deem it
eXpedient before opening books OF subscription as
above provided, to exchange for coin or pay for
public dui for Treasury notes Of the issue Of
twenty-thtd of December, eighteen hundred and
fy-seven and falling due on the thirtieth Of june
eighteen hundred and siXty-oue, or for Treasury
issued and taken In exchange for such notes.
any amount of said Treasury notes for fifty dollars
OF upwards not exceeding ono hundred millions Of
dollars.
Sec. 1. And be it further enacted, That, before
awarding any portion of tho loan in bonds author
lied by this act the Secretary Of the Treasury If he
deem It advisable to issue proposals for the same in
the Uuited States, shall give not less than ffleen
lays public notice in two or more Of the public
newspapers In the city of Washington, and in snch
other places of the United States as he may deem
advisable designating the amount Of such loan. the
place and the time up to which sealed proposals will
lie received for the Eame the periods for the payment
and the amount Of each instalment in which It Is
to be paid aud the penalty for the non-payment of
any such instruments and when and where such pro-
posals shall be opened in the presence of such per
as he may choose to attend; and the Secretary
of the Treasury Is authorized to accept the
vorablf proposals offered by responsible bidders:
Provided, That offer shall be accepted at less than
Sec s. And BIO it further enacted, That the secru-
tary d the Treasury may, If no deem it advisable
negotiate any portion OF said loan, not exceeding
one Kindred millions Of dollars in any foreign couH
try, apd payable at any designated place, either in
the hted States or in Europe and may issue regis
teTedior coupon bonds for the amount thus negotia
ted areeaby to the provisions Of this act, bearing
interest payable semRnnually, either in the United
States at 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
TN tie snme, and to Az the compensation Of such
agent agents. and shall prCscribe to them all tho
rules regulations, and podes under which such oan
shRl be negotiated, and shall havO power 10 fix the
rate Of exchange at which the principal shall DO
CeiTed from the contractors for the oan and the
charge for the payment Of the principal and inter
{ est In Europe shall DO at the same rate.
Sec, G. And DO IL frrthcr$enacted, That whenever
any Treasury notes, of denomination less than itY
d"lNrs authorized 20 be Issued by this act shall hRH
beeD redeemed the Secretary Of tho Treasury may
reissue tho sRme, oE may cancel them aud issue now
notes TO an equal amounti Provided, That the ag-
gregatO amount OF bonds aud Treasury notes Issued
Under the foregoing prOyisions of this act shall
exceed the full amount authorized by the 1rst sec
ton of this aGti End the power to issue rgisSue
such not shsl cease 1ni determine after tho thirty
Art Of DecC:nbOr, eighteen hundred and sixty-two,
Sec. z, And be It further enacted That the SeCre-
;Ary cf The Ttea4nrv T. hereby authorized, whenever
lie shall dG0m IL o&gedleut 20 Issue in exchange for
coin, or In payment for public dues, Treasury notes
Of any Of the denominations hureihboiorc specified,
bCattaS interest not UREuciipg siH per etHiGu pUr
Rrnun, aud payable at any tins not exceeding
twelve month"; ffom date, provided that tho amount
Of uotGs go lssusd or paid shs at no time exceed
ttNsnty millions Of dollars.
Sec s, And be II further enacted. That the 9Gcre-
tRry Of ths Treasury shall report Congress imne
atSly After the commencement Of the next session,
tie Rhirnpt he he8 borrowed under the prOyisuns OF
This a1t, Of whom, aud on what terms With an alb
sitant Of al the proposals., designating those that
have BEEN BccaptOa aud those thai hBye been reject
81 ADD the amount Of bonds or Treasury Hotsa that
hA4p bean Issued for the same,
Rec. Q. And be 10 further enacted, That the faith