Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-01-07

sec o. And be II further enacted, That within atx
months after the expiration Of the present insurrec
ton the corps Of pAyHAsfeIs and assistant paymN8
tiers shall be reduced to the number Of seventy.Te
Approved, July IL, 1861.
IPuBuc-NO. 81
AN ACT to authorize n National Loan and for
other purposes.
lie It enacted by the Senate and House Of Repre-
senTatiyes OF the United states of America in Com
Eres assembled, That tile Secretary OF the Treasury
be and he Is hereby authorized to borrow, tho
credit Of the United States within twelve months
from the pRsSage Of this act, a not exceeding
two hundred and nifty millions Of dollars, much
thereof rs he may deem necessary for tile public
vire, for which he is authorized 10 issue coupon
bonds OF re6Atcrrd bonds, Treasury notes In such
proportions OF each as he may deem Hdvisable; the
bonds to bear interest not exceeding per cent
per nnnum, payable seiniSnnually, fredeeInAhIe for
twenty years. and after that period resleenAGle at
the pleasure tue United States; aud the Treasury
notes to bo II any denomination liked by the Secre-
tAry OF the Treasury less than my dollars and
to be payable three years after date with Interest
Mt the rate Of seven atd thrCcenths PER ecntUm per
annuut, parable Semhaunually. Aud the Secretary
ef the Treasury may also Issue in exchange for coil
and part Of the above loan, may pay Tor salaries
other dues from the United Sntr5 Treasury notes
OF lc5S denomination than my dollars, not beAriug
interest," but payable demand by the Assistant
TreHsuTera Of the United States at Philadelphia New
York or Boston, or Treasury notes bearing interest
Mt the nte Of three and sixty-lye huDdrcdtls per
centunI, payable In year tTUn date aud exChnug-
able at any time for Treasury notes Tor nifty dollars
and upwards, IsSuahlc under The authority Of this
died, That exchange OF 6Gch notes in any less
amount than ole hundred dollars shall DO made at
any one time: And provided further, That no
Treasury notes shall lie issued OF less deEon
tlIan ten dollars, and that the whole amount Of
Treasury notes, not bearing interest Issued unter the
| of dollars.
Sec . Aud I,o It further enacted, That the Trea
sry notes aud bonds issued under the pTuvisions Of
this act shall be signed by the First Second Comp
tr0llcr or the Register Of the Treasury ard counter
signed by snc other Olioer or officers Of the Treas.
uTy ~ the Secretary Of the Treasury mHy designate;
md all such obligations. Of tile denomination u hy
dollars and upwards, shall be Issued under the seal
Of the Treasury Department. The registered bonus
shall 10 Transferable on tho books Of the Treasury
delivery OF the certificate, aud the COUPON pnds
aud Treasury shall be transferable on delivery
The luterCst coupons MAY 10 siguel by such pors0h
or persons, or cXcSutSd In such manner, may DO
designated by the Secretary Of tho Treasury, who
shall Tx the compensation for the saHe.
Sec. 3 Aud be 1t further enacted, That the Score.
taTy Of tho Treasury shall Cause books be opened
for subscription TO tho Treasury notes for ifty doll
lars and upwards at sucil places no may designate
IN the United States, and under such rues and TCgu.
lHtt0ns as lie may prescribe, to lee superintendent by
the assistant treasursra of the United States ut their
respective localities, aud NJ other places by rnciI
postOrieS, IostmRstsrs, aud other persons he may
desgnate notice thereof Icing given In at least two
daily papers Of this city, and IN or more public
newspapers published In the several pInccS where
subscription books may beopouel; and subscriptions
lOr such notes may he received from all persons who
nny desire to subscribe any law to tile CONTRARY not
NithstHndiugi and ia larger amount shalt be sub.
ECrtbed In the aggregate than Is required At time
the Secretary Of tho Treasury Is authorized re-
cetTe the salre, should lie deem II advantageous to
the public INTEREST," and not. he shall accept tile
amount required by giving the preference to the
smaller subscriptions; and the Secretary of the
Treasury shall fix the conlpeu.HtiOns Of the public
officers or othcrs Designated Tor receiving Eali sub
scrtptiOnH: Provided, That, for performing this or
any other duty In conneH0n with this net, no cOm-
ren.aton for services rendered slIall be allowed
paid to any public officer whose salary Is established
by IAWi AID tie Secretary q he Treasury may also
4 make such other rules ar equations A6 lie may
deem cxpeliOnt touching thu instRmcut to be paid
on any subscription at tito time OF subscribing and
further payments by lnstnIments or otherwise and
penalties for nnn1Iayment OF any instalment, and
also concerning the receipt, deposit, and safe keep.
Ing OF money received FROM sue subscriptions until
the bs placed IN tile POSSESSION of Official
depnifOrie> Of the Treasury, amy law laws the
| contrary notwithstanding And the Secretary Of
the Treasury ~ also authorized, iEhc shall deem II
eHFe'lent, before opening books Of subscription as
public dimes or for Treasury notes Of the Issue Of
twcnty.third Of December, eighteen hundred aud
htyseven, and falling due the thiTtieth Of June,
eShtesn hundred aud Si&ty-one, for Treasury
notes issued and taken In exchange for such notes
any amount OF said Treasury notes for my dollars
or upwards not exceeding one hundred millions OF
Sec. 4. And be it further enacted, That, before
aW1rdlnE any portion of the loan In bonds author
bed By this act the Secretary of the Treasury Il he
deem II advisable to iue proposals for the In
tho Uulted States, shall give not lees than 1Ceen
newspapers in the city OF Washington, and In such
other places Of the United States "a he may dsgm
place and tho time up to which sealed prOpOsHls will
be received for tho same, the PeTOdsior tho payment
and the amount Of each instalmcnt In which it IL
to be paid. and the penalty for the uOnFayment Of
any such instnlmentE, and When 0nd where such pro
pOsals shall be opened IN the presence OF such per-
Sous he may ehOOse to RitCn; Rnl the Secretary
OF the Treasury Is authorized to accept the most n.
VOFable proposals offered by responsible bidder:
Provided, That ODER sha be accepted at less than
Sec. 5. And be 1t further enacted, That the Score
tnTy OF the Treasury may, II he deem II advisable
one hundred millions OF dollars ia any oreITp comm
try and payable at any designated place, either Ia
tered or coupon bonds for the amount thus neEotie
ted RETeeAbly to the provisions Of this act bearing
interest payable seInEannnhy, either in the Unite
States or At any designated PiAce In Europe; and S
u further authorized to appoint such agent or acct6
q he may deem necessary for negotiating such loan
under his Instructions, and for paying the interest
on the same, and to FIX the Compensation or 1ieb
agent or agents and shall prescribe to them All tiis
rules, regulations, and modes under which Eycb ieS,,
shall be Negotiated aud Slthll have power TO NJ thp
rate Of exchange At which the principal shall Be- ro
esised nom tbs contractors for the loan and the e
change Tor the payment Of the pFlncpsl and inter
est In Europe Ghnll be at the Ean1e rate
Sec. Q. And be It further enacted, That whenever
any Treasury notes OF denomination less than 6ffr
upAEU authorized to be Issued bT thlS Sst EbSI bSS
Oeen redeemed, the Secretary OF the Treasury ma
.hs saEae' cF may cancel them and iss1e new
BTeFate amount Of bonds and Treasury notes isg1Si
under the ternSning provisions Of this act Sa mover
exceed the fall amount AUTHORISED By Inc ART 90
ton Of this act; and the power to fSspe or rsisn
such not llN cease and determine after the fhirtT
hrst OF DeecmbeE eighteen hundred and TiTtvtI'Ss
sec Z: Aud DO Il farther enacted, That the Eeere-
taTy Of the Treasury Is hereby authnFxcd vbensrsT
ne lhA deem Il eHPeiicnt. % issue In exchange fF
entn or IN payment for public dnes TroaSury notss
q any Of the determinations herenbeloro Spsci6eII
bearing tntere1 not exceeding six per cenfum psP
ennnnl, and payable at any time not oSrFEdfnCr
TEetVe months from date, provided that the S1oTnf
q notes % tgued OF paid shall a. no time OycPej
Sec 8. And ba e further erasfa8 FbIa ~. 49,,
taEy q the Treasury hhAll report 10 CunrTSI tTFs
Ilatsly ateE the commencement Of the next lion
NE amount Ne hn8 borrowed under the proTf1onG al
G1lo 0ct, Of whom, md on What taIBSS JTfk ~,
stFaes o. III the PTupolls, designating thoSo thSt
nave been accepted and thoSe that have Boon rsierf
have bean LSsaod tx the GaFnos + iS'f -
IS 50 Nd 3 Il tlEthor OnAetod, that tie fSiEi
g ne United stas 4 hereby 9Olonnly pIedEod ~
G1S Pym61e o. the interest Gnd Eed ufinn a IN
P[4nqPA9 q. ths Loan A1th0Ei80Il hy thi4 - :
10. And bSlt further S1asfSS ltj,Sf an ~,
y, g I &c IS Untitled SAn set . Authoriss he