Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-01-15

months after the expiration of the present insurrec
ien the eSrPs q g'y"sters and assistant payR't
in the whole.
Approved. July Il, 1861.
tPUBuc-No. 5.
AN ACT to authorize a National Loan and for
other purposes.
he it enacted by the Senate and House Of Repro
sentahves Of the United States of America in Con-
gTess Assem- bied That the Secretary of the Treasury
be and he is hereby authorized to borrow, on the
credit of the United States within twelve months
from the passage Of this act, n sum not exceeding
two hundred and City millions of dollars, or SO much
thereof KS he may deem necessary for the public
vice, for which he is authorized to issue coupon
bonds, registered bonds Treasury notes. in such
proportions of each as he may deem advisable; the
bonds to bear interest not exceeding seven cent
per onnum, payable semi-annUally, irredeemHbe for
twenty years, and after that period redeeinHbc at
the pleasure of the United States; and the Treasury
notes to be Of any denomination fixed by the Sccre
tary Of the Treasury not less than fifty dollars, and
10 be payable three years after date, with interest
at the rate of seven and threetenths per per
annum, payable semi.annually. And the Secretary
Of the Treasury may also issue in exchange for COIN
and part of the above loan, may pay for salaries
other dues from the United States Treasury notes
Of less denomination than fifty dollars not bearing
interest, but payable on demand by the Assistant
Treasurers of the United States Philadelphia, New
York or Boston, or Treasury notes bearing interest
at ttic rate Of three and siXty-ive hUudredtIs per
Ccntum, payable in year from date, and exchange
able at any time for Treasury notes for fifty dollars
and upwards, issuabIe under the authority Of this
act, and bearing interest specified aboVc proV-
Ged, That no exchange of such notes i'll any less
amount than one hundred dollars shall be made nj
any time: And provided further, That no
Treasury notes shall he issued Of 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 fry millions
of dollars.
Sec. .. And be it further enacted, That the Trea-
snry notes and bonds issued under the provisions of
this act shall be signed 10y the First Second Comp
troler or the Register of tho Treasury and counter
signed by such other officer officers Of the Treas
Ury 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 lie transferable the books of the Treasury
on delivery Of the certificate and the coupon bonds
and Treasury notes shall be transferable delivery.
The interest coupons may be signed by such person
or persons, or executed i'll such manner, may he
! designated by the Secretary of the Treasury who
sliuI lX the compensation for the same.
Sec. g. And be it further enacted Tint the Sccrc-
tary of the Treasury shall causc books to be opened
Tor subscription to the Treasury notes for fifty dol
lars and upwards, at suc places lac may designate
in the United States and under such rules and CgI.
latlons as he may prescribe, to be superintendent hy
the assistant trcasUrcrs of the United States their
respective localities and at other places by such de-
pOsitorcs pustmastcrs and other persons as he may
designate, notice thereof being given III least two
daily papers of this city, and in or more public
newspapers published in the several places where
subscription books may bCOpcncd: and subscriptions
for such notes may bc received from all persons who
may desire to subscribe any law the contrary not
withstanding; and if n larger amount shall be sub
sCr1bed i'll the aggregate than is required at time
the Secretary Of the Treasury is authorized
ceivc the same, should he deem it advantageous t.
the public interest; and if not, he shall accept the
amount required by giving the preference to the
smaller subscriptions; and the Secretary Of tho
treasury shall Xix the conversations of the publiC
officers or others designated for receiving said gulr
scrptiUns: Provided, That, for performing this
any other duty in cOnnexiOn with this act no com
pensation for services rendered shall be allowed nr
paid TO any public officer whose salary Is established
y law; and the Secretary 6 he Treasury may ais
make such other rules arr equations he may
deem eXpedient touching tho insalmcnt to be paid
on any subscription ut the time of subscribing, anu
iurthcr payments by instruments or otherwise, and
u peEutlcS LOT non-layment OF any lnstalment, and
ais" concerning the receipt, deposit. and sIf. keen
ing of money received from such subscriptions unit
the same can be placed in the possession Of official
repositories of the Treasury any law or laws to tho
contrary notwithstanding. And the Secretary n
the Treasury is also authorized. if lie smll deem il
expcdivnt, before opening books Ol subscription ~
:. above provided, To exchange for coin or pay fol
public dues or for Treasury notes of tl,r ist,r =,
| twcnty-tlIird of December eighteen hundred and
ttty-scven, and falling due the thirict juno
eighteen hundred and siXty-Onc, or for Treasury
notes issued and taken iii exchange for sucl notes
any amount Of said Treasury notes for fifty dollars
or upwards not exceeding one hundred millions O
Sec /. And 10 it further enacted That bcfor,
awarding any portion of the loan iii bonds author
Zcd by this act the Secretary Of the Treasury if Ii,
deem 1t advisable to Issue proposals for the same il
the uuited States, shall give not less than ftcCr
days public notice in two more of the public
newspapers in the city of Washington, and in slcl
other places Of the United States rs lie may deem
advisable, designating the amount of such loan thu
place and the time up to which scaled proposals viii
be received for the same, the periods for the payment
and tue amount of each instalmcnt in which it i:
to be paid, and the penalty for the nou-paymcnt O.
any such instruments, and when and where such nrO
posals shall be opened in the presence of such per
sous as he may choose TO attend; and the Secretary
ot the Treasury is authorized to accept the most f
vorlble proposals offered by responsible bidders
Provided That offer shall be accepted at less thar
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
one hundred millions of dollars in any foreign coun
try, and payable ut any designated place. either in
the ULlteu states or in Europe, and may issue regis
tered or coupon bonds for the amount thus negotia
ted aErecHbly to the provisions of this act, bearing
interest payable seminnually either in the Unit
States or any designated place in Euronc: and l,t
is further authorized to appoint such or agents
as he may deem necessary for negotiating such oar
under his instructions, and for paying the interest
on the same, and to fix the compensation of sucl
agent or agents, and shall prescribe them all tho
rules, regulations, and modes under which such loar
shall be negotiated, and shall have power to fix thu
rate of exchange at which the principal shall be re
CCYCd from the contractors for the loan. and the e,
clsQgo for the payment of the principal and inter
est in Europe shall be at the same rate
Sec. g. And be it further enacted That wheneve,
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 tho same. or may cancel them and issue new
notes 70 an equal amount: Provided. That the az
gregato amount of bonds and Treasury Totes issuc4
under the foregoing provisions of this shall never
exceed me tul amount authorized by the first sec
LION OF ms act; and the power issue or reissue
SUCH mol +shal cease and determine after tho thirty
hrSt OF December, eighteen hundred and sixty-two
sec. = And be 1t further enacted, That the Score
tary OF the Treasury is hereby authorized ,bnnovor