Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-01-31


Sec 4 And Be it further enacted That within six
months after the eKpraJn of the present insuTrec-
tion the corps of paymAstera and assistant Iaymas
in the whole.
Approved, July Il, 1861.
IPUBuc-No. 81
AN ACT to authorize a National Loan and for
other purposes.
Be it enacted by the Senate and House Of Repre-
sentatTOs Of the United States Of America in Com
gIess That the Secretary of the Treasury
De and he Il hereby authorized to borrow, 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 OF So much
thereof he may deem necessary for the public scr
vice. Tor which he IS authorized to tissue coupon
bonds, or re Rstered bonds or Treasury NOTES in .i,
proportions Of each a. he may deem advisable; the
bonds TO bear interest not exceeding seven per cent
per annum, payable seniAnnualy, irredee1nabie for
twenty yeaTs, and after that period redeemable at
the pleasure Of the United States; and the Treasury
notes to be Of any denomination fixed by the Secre-
tHry Of the Treasury, not less than hty dollars and
TO be payable three years afer date with interest
At the rate Uf6eVen and threetenths per centu per
annun,, payable semtannuAlly. And the Secretary
Of the Treasury may also issue in exchange for coin
and as part OF the above loan, may pay SALARIES
or other dues from the United States treasury notes
OF less denomination than nifty dollars not bearing
interest, but payable on demand by the Assistant
TreasuTers Of the United States at PHILADELPHIA New
HorE or Boston. or Treasury notes bearing interest
AT the rate OF three and siEty-hve hundredths per
ctntuin payable In one year from date and eXchang
able at any lime for Treasury notes Tor ty dollars
and upwards issuablo under the authority of this
act, and bearing interest specified above Proyi-
ded, That exchange Of such notes in any less
amount than one hundred dollars shall be made Mt
any one time: And provided further, That NO
Treasury notes shall be issued of less denomination
than ten dollars, aud that the whole amount Of
Treasury notes not bearing interest issued under the
Of dollars.
Sec. =. And be 1t further enacted, That the Trsa-
sry notes and bonds Issued under the provisions Of
thts act shall be signed by the First Second Comp
troller the Register Of the Treasury and counter
signed by such other officer officers Of the Treas
Ury the Secretary of the Treasury NAV designate.
and all such obligations of the denomination or ty
dollars and upwards shall be 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 bonds
and Treasury notes shall be transferable on delivery
The interest coupons may be signed by such person
2E persons, OF eGeSutcd In such manner a. may be
designated by the Secretary OF the Treasury who
shall NIX the compensation for the same.
Sec. 3. And be il further enacted That the Score.
taFy OF the Treasury shall books TO be opened
for subscription to the Treasury notes for INV dol
lars and upwards at such places az he NAV designate
IN the United States and under such rules aud re-
latous as he may prescribe, TO be superintendent by
the assistant tIeasurers Of the United States their
respective localities, and Mt other places by such de-
Positories postmasters and other persons as he NAV
designate, notice thereof being given In at least two
'ly papers OF thls city, and In one or more public
newspapers published IN the several places where
subscription bOoksmay beopened; and subscriptions
Tor such notes may be received from all persons who
may desire to subsCribe law the contrary not
withdrawing; and IL larger amount shall be sub.
crbed in the aggregate than is required time
the secretary OF the Treasury ts authorized TO
eeive the same, should he deem it advantageous to
the public intercst and If not he shall accept the
amount required by giving the preference to the
smaller subscriptions; aud the Secretary Of the
Treasury shall tx the corporations Of the public
officers others designated for receiving said suI
scripti@ns: Provided, That, for performing this or
any other duty in cunneNiun with this act, no crt-
Iensaton for services rendered shall be allowed or
paid to any public officer whose salary Is established
by law; and the Secretary he Treasury NAV also
make such other rules ar equations as he may
deem eNpedient touching thu instalment to be maid
On any subscription at the time of subscribing, and
further payments by instalments or otherwise, and
penalties for non-payment of any instaIment. 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 OF Official
repositories OF the Treasury, any Law laws to the
contrary notwithstanding. And the Secretary Of
the Treasury Is also authorized he shall dee Il
eHpedient, before opening books OF subscrption as
above provided, to exchange for coin or pAy for
Tnblc dues or for Treasury notes OF the issne al
tWenty-third OF December, eighteen hundr,I and
hity-seVeu, and falling duo on the thrtet of lime
eighteen hundred and sixty-One, or for Treasury
notes issued and taken in exchange for such notes
any Rnou"t of said Treasury notes for ffy dollars
OF upwards not exceeding one hundred millions OF
Sec. /. And DO it further enacted, That, before
awarding any portion of tie loan in bonds author-
iAed by TINS act the Secretary Of the Treasury IL he
deem It advsabe to issue proposals for the same in
the Cuted States, shall give not less than fffeen
days public notice in two or more of the public
newspapers in the city Of Washingtop and in .1rI
other places Of the United States a. he NAV deem
advisable designating the amount OF such loan the
place and the time up TO which sealed proposals will
be received Tor the same the periods for the payment
and the amount OF each instalment in which Il Is
20 90 paid Hnd the penalty for the nOn-paynient Of
MY jsuen lmstanents and when and where such pro
Posas shall be opened in the presence Of such per-
cons as he may choose attend; and the Secretary
OF the Treasury Is authorized accept the most "a.
xora6le proposals offered by responsible bidder /.
Provided, That offer shall DO accepted at les tItan
par. - ''-''''
See 5. And be 1t further enacted. That the s.rro
LlEy OF the Treasury IN ha u
negotiate any portion OF said loan not rTreijns,
one hundred millions Of dollars in any foreign CONF
try ana payable at any designated place either in
the United States in Europe aud may iss,,r rei
tered or coupon bonds for the amount thus nec,tia
TED agreeaby to the provisions Of this act bearing
interest payable semiannually, either in the United
states or At any designated place in Europe; and c
Is further authorized to appoint such agent or agents
a he may deem necessary for Negotiating such ioon
under his Instructions and E,r ,,svir,. H. i. -,
on the same, and to NIX the Concentration az -,rL
agent or agents and Hha prescribe to them all the
shall be negotiated, and shall have power 10 fix fJc
rate OF exchange At which the principal shall be re-
rom me CONTRACTOR for the loan, and the sx-
ehAnSS LOT the payment Of the principal and inter-
est In Europe shall be At the came rate
SEC O. And be it further enacted, That whenever
any treasury notes, OF denomination lea than Inv
dollars authorized to be Issued By this act shall have
been redeemed, the Secretary Of the Treasury M
reissue the same or may cancel them and issue nav
notes 70 An equal amount: Provided. That the a..
gregate amount Of bonds and Treasury notes fssnSI
under me foregoing provisions Of this act Eha never
LII AQInuIlLon by the 1Fgf So
tion OF this act and the power TO issue or reisne
such not 1ahall cease and determine aer the thirty
Arst OF Deeen Der, eighteen hundred and sixty-tTo
SEC 2. And be It further enacted That the Seera-
aFy 0! the Treasury is hereby authorised whenever
ne ahAu deem IL eHpedient, issue in EXCHANGE foT
coin OF in payment for public dues Tre.1ITT HotSs
OF any Of the denominations herefnbefore TTsr5SSJ
De9Elng interest not exceeding six Per eenfum ~
1 SIl, and payable At any time not exceeding
months nom date, provided that the Suncunf
o. notes 30 Issued or paid Ehau at no time exoeei
twenty millions Of doilarA
Sec. g. And be 1t further enacted III. -. e.
tAry Of the Treasury shall report 10 oonersS i1Ts
qiAtsy amer the commencement Of the next se,s-fon
ne amount ne has borrowed under the pTTiIfo1T n
TINS acI3 Of whom, md on what terms T[ith a, al,
StEaef Of AL the proposals., designating thoSs thof
nave been accepted and those that have ben Tsie[t
80 me mount Of bonds or Treasury notes thSt
IS. y. And Be II further enacted That the hIith
ne United states 4 hereby uolSmnly PLEDGED For