Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-10-31

months after the exprati of the present insurrec-
ti"n the corps Of paymasters and assistant paY1nas
shall he reduced to the number of sevEnty-hve
IN the whole.
Approved. July Il, 1861.
IrUnuc-Nu. ST.
An ACT TO authorize \ National Loan and for
other purposes.
lie it enacted by the Senate and House Of Repre-
,cntave, Of the United states "t America in Com
reS assembled That the Secretary # the Treasury
lie and he j. hereby authorized 1" borrow on the
credit tire United STATES, within twelve months
from t'Ic passage IF ti, act, not exceeding
humTr'l and nifty millions of dollars much
thereof ie may dvc necessary for the public SER
vice. for which he is authorized to issue coupon
bonds cstcrc bonds. Treasury notes. i'll such
proportions Of each Ire may deem advisable: tile
hui- bear Interest not exceeding seven per cent.
per AMMAN. PAYABLE zcmi-aiuually, irrcdecnIhe for
twenty wears and after that period re,lecmable
the pleasure of the United States; and the Treasury
NOTES bo If any denomination fixed by the Secrc
tary oi tie Treasury. not les tlsu fifty d"!iaIs and
To Ur payable three year, after date. with Interest
the rate "fsrven and thr"'tenths per cciiun lrr
nuIiii;r payable sominmnually Aud the Secretary
4 al" Treasury may also issue in exchange iur CON.
and IS part uI tHc"D1Nc l'EiI OF MAY pay Ioi si'ti's
other dues from the United states, Treasury notes
81 less denomination than nifty dollars not hearuG
Interest: Int paSalIr ON demand UY tits. Assistant
Trr.,surers the United States Philadelphia. New
4 York Bnston. Treasury notes hearin, interest
/ at tile rate al three and s%ty-vc hundredtils per
cCutWIH payable III year FROM date. and rNcihuE-
abe at any time for Treasury notes IOT ility dDllaa
and upwa ds. issIubic Under the authority Uf this
/
del. That no exchange OF such notes III amy less
amount than one hundred dollars shall lie made at
| any time: Aud provided further, hat no
Treasury notes SHALL Ice Issued Ola less denomination
! 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
| of dollars
| Sec =. And he it further enacted, That the Trea-
snry notes aud bonds Issued undcr the provisions of
this shall be Signed 10y tile First second Comp
troller, or the Hegiser of the Treasury and counter
signed by such other uil.er officers Of III" Treas
ury the Secretary of the Treasury may ,lrSignntc
and all such obligations. al the denomination "f fifty
uiiar- and upwnjds, shall lie issued under the seal
of the Treasury Department. The resi>ier"! bonds
shall lee transferable on the books Of the Treasury
delivery Of the certificate, ana The COUPON bonds
and Treasury notts shall he transferable delivery
I!Io Interest coupons ;;ty be- sgncl ty suc! person
designated by tile Secretary Of the Treasury, who
shall fix the compensation for the same.
SEQ 3. And he II further enacted. That the Score
t1ry OF tie Treasury shall cause books to Lac opened
Er subscription to the Treasury MUtes FOR nifty dol
lars aud upwards, at such places AZ IL" may designate
in the United States. and under such rules and reE
lHticnS lie may prescribe, In Ice supcrintendcd 10y
the assistant of tie United states AT their
respective localities. and other places 10y such dc
IOsIories. pCstmasreIs, and uheT persons h" may
designate notice thereof being given III at least two
daily papers of this city, and In more public
newspapers published i'll the several places where
subscription bo"ksmay hcopened ami subscriptions
Tor such may l.. received from all persons Win
inay desire to subscribe, any law 10 hecunrry not
wIthStandinS; ami II II larger amount sali bc sub
sIihed in the aggregate than Is required at "Ec time,
the Secretary If the Treasury il authorized to-
Ceive the same, should lie deem IL advantageous to
the public INTEREST," and if he shall accept the
amount required by giving the preference 10 the
snntllcr subscriptions; and the Secretary al the
Treasury shall fix the conpen ations uI the public
officers others designated for receiving said sul
scriptiOns: Provided That, for p-rinrnling this
any other duty in connection with this act COIN
Iensatun for services rendered shall be allowed
paid to any public officer whose salary is established
Icy law; aud the secretary lie Treasury may also
make such other rules EQUATIONS lie may
deem eXPedient touching tho nstalment to be paid
uu my subscription at the time Of subscribing. and
further payments Ivy instamtnts or otherwise, and
penalties for non-pnyment of any iustament. and
also concerning the receipt, deposit. aud safe keep
i; Of money received from such subscriptions, until
the SInC can be placed in the possession nj official
repositories of the Treasury, any law laws the
contrary Notwithstanding. And tho Secretary of
ie Treasury Is also authorized If he shall deem it
"Nrelient- before opening books ul subscription
above provided, 20 exchange for coin or pay for
public 'ires for Treasury notes Of the Issne of
twentN-tlirn OF December, eighteen hundred and
iitv-scven, and falling due the thiriet Of June,
slIttch hundred and siXty-UIe, for Treasury
issued and taken in exchange for sucli notes.
any aIuUI"t Of said Treasury notes for fifty dollars
80 upwards not exceeding one hundred millions OF
dollars.
Sec !. And be it further enacted, That, before
awarding any portion Of the loan in bonds author
iZe by this act the Secretary Of the Treasury ii hr
deem it advisable Ia issue proposals for the
Tie Iuited states, shalt give not less than fifteen
lays public notice in two Inp-e Of the public
newspapers in the city of Washington. and in such
other places 1T the United States rs lac may deem
advisable designating the amount II such loan. the
liace AMI the time up Ia which sealed proposals. will
re received for the same. the periods for tile paVert
Hnd the amount Of each iustalment in which 1t is
IL be- paid and the penalty for the Mu-pavlncut of
amy such instruments nui when aud yvter" srgcr pro-
pnSHls shall he opened IN thc presence of such Der-
sous as no may choose To attend; aui the Secretary
Of the Treasury Is authorized acrept the most fl
vnrHhc proposals offered by responsible bidders
Provided. That offer shall lee accepted NJ less than
par.
SIC. 5. And he it further enacted That the Score
inry OF the Treasury n'ay. if he deem it advisable
negotiate any portion Of sad loan. not exceeding
une hundred millions of dollars in any foreil cuu
TRY, and payable at any designated place. either in
the Cited States i'll Europe. and may issue regis
tered coupon bonds fur the thus negotia-
led agrCeably to the provisions Of this act bearing
interest payable seni-annuaily either in thc United
states or at any designated place in Europe; and c
il further authorized to appoint such agent agents
w. lie may deem necessary for negotiating such loan
under his instructions, and for paying the interest
un the same and To fix the compensation of such
agent or agents. and shall prescribe to Them all the
rules, regulations, and modes under which such loan
shall Ire negotiated and shall have power fix the
Of exchange which the principal shall lie re-
ceived from the contractors for the loan and the ex
change for the payment Of the principal and inter
est in Europe shall be Mt tho same rate
Sec, g. And be it further enacted. That whenever
any Treasury notes. of denomination less than fifty
dollars authorized to be issued by this act shall have
been redeemed, the Secretary of the Treasury may
reissue the same, or may cancel them and issue new
notes TO an equal amount: Provided, That the ag-
Eregate amount OF bonds and Treasury notes issued
under the foregoing provisions of this shall
exceed the fall amount authorized by the first sec
ton of this act; and the power TO issue or reissue
such not shRll and determine after the thirty
hrst OF December, eighteen hundred and sixty-two
Sec Z: And be 1t further enacted, That the Secre-
tary OF tue Treasury Il hereby authorized whenever
lie ehhl deem It expedient, to issue in exchange for
coin, or In payment for public dues Treasury notes
nf any Of the denominations hereiubefore specised
bearing interest not exceeding aix per centum per
NnnuTn, and payable at any time not exceeding
twelve months from date, provided that the amount
VI notes Issued or paid shall at no time exceed
twenty millions OF dollars.
Sec. 8. And be II further enacted That the secre-
Z TTeaguFg inn
dintsly after the commencement Of the next session.
tho amount no hns borrowed under the provisions Of
this act, Of whom, and on what terms, with an alb
strBet Of all the proposals. designating those that
have been accepted and those that have been reject
ed and the amount Of bonds Treasury notes that
have been issued for the same.