Delaware State journal and statesman., 1862-08-12
Approved, July Il, 1862.
1PuBLro No. ll6.
PUBLIO NO. IIb.
AN ACT to authorize an additional issue of Trea-
sury notes, and for other purposes.

AN ACT to authorize an additional issue OF Irea-
sury notes, and for other purposes.
Be Il enacted 6y The Senate and House OF Repre-
seatanpes Of the United States Of America in Con-
gress assembled, That the Secretary OF the Trea-
sury is hereby authorized to issue, in addition TO
the amounts heretofore authorized, on the credit
of the United States, one hundred and fifty mill
lions of dollars of United States notes, not bear
ing interest, payable to bearer at the Treasury
of the United Statep aud of such denominations
As he may deem expedient; PROVIDED, That no
note shall be issued for the fractional part OF
dollar, aud not more than thirty-hve millions
shall be of lower denominations than five dollars;
and such notes shall be receivable in payment OF
all loans made to the United States aud of all
taxes, internal duties, excuses, debts, and de-
mands Of every kind due to the United States,
except duties on imports and interest aud of all
claims aud demands against the United States,
/ except for interest upon bonds notes and Gtrtlti
Gates of debt or deposit; and shall also be lawful
money and legal tender in payment of all debts,
public and private, within the United States,
except duties on imports and interest, as atore-
snid. And any holder of said United States
notes depositing any sum not less than nifty
dollars, or some multiple of fifty dollars, with
the Treasurer of the United States, or either of
the assistant treasurers shall receive in exchange
therefor duplicate certificates of deposit, one Of
which may be transmitted to the Secretary OF
the Treasury, who shall thereupon issue 10 the
holder an equal amount Of bonds OF the United
States coupon or registered, Us may by sald
holder be desired, bearing interest at the rate OF
six per centum per annum, payable semi nh-
nually, and redeemable at the pleasure OF the
United States alter five years, and payable
twenty years from the date thereof: PT0Vlded,
hotOepsr, That any notes issued under this act
may be paid in coin, instead Of being received in
exchange for certificates of deposit as above
specified, at the direction of the Secretary of the
Treasury And the Secretary of the Treasury
may exchange for such notes, on such terms as
he shall think most beneficial TO the public in
terest, any bonds of the United States bearing
six per centum interest, and redeemable after
five and payable in twenty years, which have
been or may be lawfully issued under the pro
visions of any existing act may reissue the notes
SO received in exchange may receive and eance
any notes heretofore lawfully issued under nny
act of Congress- and in lieu thereof Issue ai
equal amount in notes such as are authorized By
this act; and may purchase, at rates not exceed
ing that of the current market and cost OF pur'
chase not exceeding one-eighth Of oneper centum
any bonds or certificates OF debt OF the United
States as be may deem advisable.
See. .. And be il further enacted, That tn
= Secretary Of the Treasury be and is hereby au
thorized in case he shall think it texpedient to pro
cue said notes, or any part thereof, to be ensra
, we'd and printed by contract, to cause the sal!
notes or any part thereof to be engraved, printed
and executed in such form as he shall prescribe
at the Treasury Department in Washington, an
under his direction; and he is hereby empowere
to purchase and provide all the machinery an
. materials, and to employ such persons and ap
Ii point such officers as may be necessary for thi
q purpose.
Sec. 8. And be il further enacted, That th
limitation upon temporary deposits Of Unite
States notes with any assistant treasurer or de'
ignated depostary authorized by the Secreiar
o Of the Treasury 10 receive such deposits 10 hil
millions dollars, be aud is hereby repealed All
+ the Secretary of the Treasury is authorized
= receive such deposits. under such regulations {
g he may prescribe, to such amount as he ms
d deem exp,dient, not exceeding one hundrt
Il millions of dollars for not less than thirty day
e in sums not less than one hundred dollars, at
b, rate Of interest not exceeding five per centnl
L. per anum; and any amount SO deposlteu,hay
le withdrawn from deposit at any time ai'er "
ss days notice, on the return of The ceruncate
ID deposit And of the amounts OF United atat'
ne rotns onthorized by this act not less than MI
It. millions of dollars shall be reserved for the pul
IL nose of securing proupt payment Of such ueposl
when demandeu, and shall be issued aud use
oply when in the judgment Of the Secretary
the Treasury the same or any part 5hef.ot m'
be needed for thai purpose. Aud oertlhcates
T. deposit and OF ihueDteuhess lssueu upup' '"'S
former acts may be received Oh the same tern
e as United States notes in payment Tor bou
y redeemabe after five aud payable in TWEEN
IL years. mi,
rs Sec. a. And De Je'mef esac's"' tnHt
ii. Secretary of the Treasury may, at any time un
rs otherwise ordered by Congress, and under I
q restrictions imposed by the "Aet to authorize
od national loan, and for other purposes" berro
n. on the credit of the United States, such part
of the sum of two hundred and fifty millions me
a. toned in said act as may not have been borrow