Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-08-08
TPUpLrc-No. 81
AN ACT to authorize National Loan and for
other purpose5

other purposes.
be It enacted by the Senate and House of Repre-
Eeut1tves Of the United States OF America In Con-
Ere4s assembled, That the Secretary Of the Treasury
be and hH is hereby authorized TO borrow, tho
credit OF the United States, within twelve months
from the pIssaSe OF this act, SUM not exceeding
two Hundred aId fifty millions OF dollars, much
thereof he may deem necessary foe tile public ser
vice for which he Is authorized TO issue coupon
bonds, registered bonds, Treasury notes in such
proportions of each rs lac may deem advisable; the
hOns bear interest not exceeding seven pes cent.
per annum, payable semi-annuully, irredeenIa6e Tor
twenty years, and prter that period redee inHLo
the pleasure OF Tho United States; and the Treasury
notes he of any denomination fixed by the Secre-
tury Of the Treasury, not less than fifty dollars and
to lie lyable three years ater date, with interest
Mt the Ofseven anu three.tenths per ccntm per
AnnUiE. plpible sentannltlly. Aud the Secretary
Of the Treasury may also issue in exchange for coin,
and ns part OF the above o or may nay Tor salarits
or other dues from the Tn ii State, Treasury notes
OF less denomination than flty dollars. not bearing
interest, but payable demand by tile Assistant
Trelurers OF the United States at Philadelphia New
York or Boston, Treasury notes be1rng interest
nt tho rate OF three and siSty-tive hundr,dths per
centum payable in Que year from date ami eXrhgUE-
abe at any tmG for Treasury notes fifty doIa.s
aud upwa ds, issuabie under the authority of this
act, and bearing interest specified above: Provi
dc 1, That exchange of such notes IN any less
amount q one hundred dollars shall be made Nt
any one time: And provided further. That no
TreLSury notes shall Le Issued ofa LEGS denomination
than ten dollars, AMI that the whole amount OF
Treasury notes not bearing interest, issued under the
authority of this act shall not exceed nfty millions
of dollars.
Sec >. And bo It further enacted, That the Trea-
snry notes mud bonds issued under the provisions OF
this act shall be signed bY the First second Comp
trOller, the ltcsterof the Treasury. aud cOunter
signed by such other officer officers Of the Treas
ury tho Secretary OF the Treasury may designate;
and all such obligations of the denomination OF ATTY
dollars and upwards, shall bu Issued under the seal
of the Treasury Department. The registered bonds
shall be transferable on the books Of the Treasury
on delivery Of the certificate, and the coupon bonus
aud Treasury shall be transferable delivery
Tho interest coupons may be signed by such person
nrn in stVnns In
de iguated by the Secretary OF ttla Treasury, who
shall fix the compensation for the samo.
Sec 5. And be it further enacted, That the Secre.
tary of tile Treasury shall cause books to be opened
for subscription to the Treasury notes for fifty dol
lars aud upwards, at such places n may designate
in the United States and under such rules and regu
lations he may prcscrbc to be sUperintendcd by
the assistant treasurers OF the United states at their
respective loca lies and at other places by snch do
positores pOsImNsters, and other persona as he may
desguate notice thereof being given in ut least two
daily papers Of this city, and IN ono more public
newspapers published in the seJerll places wherO
subscription books may beopened; and subscriptions
for such notes mly he received from all persons who
may desire TO subscribe any law to the contrary not
wthstnnding aud il a larger a'nOunt shall be SUBJ
scrbed in the a gregate than Is required Mt time,
the Secretary OF the Treasury Is authorized to
ceiys the same should he deem Il advantageous to
the public Interest; and If not he shall accept tho
amount required by giving tho preference 10 the
smaller subscriptions; aud tho Secretary of the
Treasury shall fix the compensations Of the public
officers or others designated for receiving said sub
scrptions: Provided, That, for performing this or
any other duty in cOnnexinn with this act, no com
pensation for services rendered shall bs allowed or
paid to any public officer whose salary Is establshed
by law; AID the Secretary Of the TreIsnry may also
make such other rules and regulations as he may
deem eXpedient touching the in,talment to be paid
any subscription ut the time OF Subscribing and
further payments by instRlmentS or otherwise and
penalties for non-payment of any tnstalment, and
also concetning TIE receipt, deposit and safe keep
ing VI money received from such subscriptions until
the be placed in the possession OF official
depostOres of the Treasury, any law or laws the
! contrary notwithstanding. And the Secretary ol
the Trrn'urY Is also authorized II he Bhall deem Il
eXpedient. huf0re opening books OF subscription na
iHbJye provided, to exchange for coin or pay for
public dues OF for Treasury notes Of the issue OF
twenty-thiri of December, eightesn hundred and
ftyseven, and falling due the thirtieth of June
/ eighteen hundred aud sxty-one, or for Treasury
notes Issued aud taken in exchange for such notes
any amonnt Of said Treasury notes for fty dollars
or upwards not exceeding one hundred millions OF
| dollars.
Sec. 4. And be It further enacted, That, before
awarding any portion of the loan in bonds author
lied by this act the Secretary Of the Treasury IL he
deem Ii advisable to issue proposals for the same In
the United States, shall give not lsss than hfeon
days public notice in two or moro Of the public
newspapers in the city OF Washington, and Ia such
othor places Of the United States rs be may deem
advisable, designating the amount Of such loan the
place and the time up to which sealed proposals will
be received for the slne, the periods the payment
and the amount OF each inStameut In which Il Is
to be psid, and the penalty for the noupayuent Of
auy such instruments and when and where such prl.
posals shall bo opened In the presence OF such per
sons as he may choose to attend; aud the Secretary
of the Treasury Is authorized 70 accent the mot IA
Vorable proposals offered by responsible bidders
Provided, That oer shall be accepted az less than
| par.
tary Of the Treasury may, II he dean it asiTIsabIe
negotiate any portion Of sud loan, not excecljng
one hnndred millions OF dollars In ahy foreign c0un.
Try, anI payable at any designated place either IN
the United States or In Eufone and may Issue regis
tered Or c0uPon bonds for the amount thus neEota-