Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-01-13
we'd, July Il, 1851.

present
ton the corps OF paymazters and assistant paynas
tess shall be reduced to the number of seventy-ve
in the whole.
Approved, July Il, 1851.
[PUB1c-No. ST.
AN ACT to authorize National Loan and for
other purposes.
Be it enacted by the Senate and House Of Repre-
gentatives of the United States Of America in Con-
gress assembled, That the Secretary of the Treasury
be and he is hereby authorized to borrow, the
credit OF the United States, within twelve months
from the passage Of this act, not exceeding
two hundred and fifty millions Of dollars SO much
thereof he may deem necessary for the public ser
vice, for which he is authorized To issue coupon
bonds registered bonds, Treasury notes, in such
proportions Of each as he may deem aavisable the
bonds to bear interest not exceeding seven per cent
per annum, payable semi-annually, irredeemabe for
twenty years. and after that period redeemablc at
the pleasure Of the United States: and the Treasury
notes to be Of any denomination fixed by the Secre-
tary of the Treasury, not less than fifty dollars and
to be payable three wears after date with Interest
at the rate of seven and threetents per centum per
| annun, papable seIniannually. And the Secretary
Of the Treasury may also issue in exchange coin,
and as part Of the above lOau may pay TOR salaries
other dues from the United States Treasury notes
OF less denomination than fifty dollars, bearing
| interest, but payable on demand by the Assistant
Ircasurers of the United States at Philadelphia, New
York or Boston, Treasury notes bearing interest
at the rate of three and sixty-iye hundredths per
ccntun, payable III one year from date, and cXClnn
able at any time for Treasury fifty dollars
and upwards, issuable under the authority of this
act, and bearing interest specified above: Proyi-
ded, That no exchange Of such notes i'll any less
amount than one hundred dollars shall he made at
| any one time: And provided further, That no
Treasury notes shall be issued of less denomination
| than ten dollars and that the whole amount Of
Treasury notes, not bearing interest, issued under
| OF dollars.
Sec. Q. And be it further enacted That the Urea
sry notes and bonds issued under the provisions Of
TINS act shall be signed by the First or Second Comp
rOller the Register Of the Treasury and counter
signed by such other officer officers Of the Treas
"ry as the Secretary of the Treasury may designate;
and all such obligations, of the denomination Of fifty
dollars and upwards shall be Issued under the seal
! of the Treasury Department. The registered bonds
/ shall be transferable the books of the Treasury
ON delivery of the certificate and the COUPON bonds
and Treasury netcs shall be transferable on delivery
Tile interest coupons may be signed by such person
or persons, OF executed in such manner as may be
designated by the Secretary of the Treasury, who
shall fix the compensation for the same.
Sec. 5. And be it further enacted, That the Score
tnry Of the Treasury shall cause books to be opened
for subscription to the Treasury for fifty dol
lars and upwards at such places AS he may designate
in the United states. and under such rules and re
htiohs as Ic may prescribe to be suPcrintcnded by
the assistant tTeasurers Of the United States at their
respective localities and at other places by such de-
Positores, postmastcrs, and other persons lie may
designate, notice thereof being given in least two
daily papers of this city, and in or more public
newspapers published i'll the several places where
subscription books may beopencd; and sUbseriptions
for such notes may be received from all persons who
may desire to subscribe, any law the contrary not.
withStanding; and iii larger amount shall he sub.
scrbed in the aggregate than is required time,
the Secretary of the Treasury is authorized to re-
ceive the same, should he deem it advantageous to
inc pubic lnIcrCstT ana II not he shall the
amount required by giving the preference to the
smaller subscriptions; aud the Secretary of the
Treasury shall hX the comPcnsatons of the public
officers or others designated for receiving said SUBJ
sCriptiOns: Provided, That, for performing this or
any other duty in connection with this act no COM
pensation for services rendered shall lie allowed or
paid to any public officer whose salary is established
by law; and tho Secretary C. he Treasury may also
make suck other rules ;Irr' equations az he ma =,
deem eXpcdient touching tho instaImcnt to be maid
on any subscription Mt the time of subscriDinS and
1urther payments by instalments otherwise, and
VtnVF of,
also concerning the receipt deposit and safe keen
ing of money received from such subscriptions until
the same can be placed in the possession official
repositories OF the Treasury, any law laws TO the
contrary Notwithstanding And the Secretary of
the Treasury is also authorized if he shall it
eXpedient, before opening books OF subscription
above provided, to exchange for coin or ls,y for
public dues or for Treasury notes of the issue of
tWenty-third OF December, eighteen hundred and
tty-scven, and falling due the tlrtieth of June,
eighteen hundred and sixty-one, for Treasury
notes issued and taken in exchange for such not as
any amount of said Treasury notes for fifty dollars
or upwards not exceeding one hundred millions OF
Sec. 1. 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 if he
deem it advisable to issue proposals for the same in
the Uutcd States, shall give not less than fifteen
| days public notice in two of the public
newspapers in the city Of Washington and in such
other places of the United States lie may deem
advisable, designating the amount of such loan tile
place and the time up to which sealed proposals will
be received for the the periods the payment
and the amount of each instalment in which it is
TO be P4td and the penalty for the non-payment OF
any such instalments. and when and where such ro
Posals shall be opened in the presence of such ner-
sons as e may choose to attend; and the Secretary
Of the Treasury is authorized to accept the most fl.
Xora6ie proposals offered by responsible bidders
Provided That offer shall be accepted at less than
par.
Sec g. And be it further enacted, That the Secre-
tary OF the Treasury may, if he deem it advisable
negotiate any portion of said loan, not exceeding
ono hundred millions of dollars, in any foreign coun.
ty' anu payable at any designated place, either in
the United States in Europe. and NAV isgc regis
tered or coupon bonds for the amount thus negota.
ted agrecaGly to the provisions this act bearing
interest payable semi-annuay, either in the United
states or ut any designated place Europe; and he
Is inrher authorized to appoint such agent agents
s ne may deem necessary for negotiating such loan
under his instructions and for paying the interest
on the same. and to fix the compensation Of sucI,
agent or agents, and shall prescribe them all tile
rules regulations, and modes under which such loan
shall be negotiated, and shall have power to fix to
rate q exchange at which the principal shall be re-
ceVed from the contractors for the loan, and the ex
change for the payment of the principal and inter
est in Europe shall be at the same rate.
Sec. 6. And be it further enacted, That Whenever
any Treasury notes, Of denomination less than fty
dollars, authorized to be issued by this act shall haze
been redeemed the Secretary Of the TREASURY mn =,
reissue the same. may cancel them and issue new
notes to an equal amount: Provided, That the ag-
gregate amount Of bonds and Treasury notes issued
uhder the foregoing provisions of this shall never
exceed the full amount authorized by the first sec
to3 OF TINS act; and the power to issue reissue
eR SoI <shE cease and determine aftert the thirty
hEst oil december, eighteen hundred and sixty-two.
sec. .; Anu be 1t further enacted That tho Secre-
taFy o. me treasury is hereby authorized whenever
nc sh" aeem eXpedient, to issue in exchange for
com, or IN payment for public dues Treasury notes
OF any OF the denominations hereinbefore sneciSed
bearing interest not exceeding six per centum nor
annum, and payable at any time not cTcoo5tt,,,
twelve months from datO, provided that the smonnf
OF notes 30 issued or paid shall at no time eycee
twenty millions Of doilarA 0NNseN
Sec. 8. And be it further enacted, That the Secro.
tary OF the Treasury shall report to Congress- mmS
diatey after the commencement of the next aeSsio,,
the amount ne has borrowed under the DroviEfonS ~
this act, Of whom, and on what terms, with an al.
sraeT OF all the proposals, designating those that
Deen accepted and those that have been reject
have been issued for the same '-1e
Sec. 9. And be it further enacted, That the faith