Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-02-01

uIlcT tue etplEAtl OF The
non the corps Of pay masters and assistant paymas
tiers shall be reduced to the number Of seTenty-Ye
in the whole.
Approved, July Il, 1861.
lPUBLlc-So. 81
AN ACT to authorize a National Loan and for
other purposes.
BE It enacted by the Senate and House Of Repre-
sentatyes Of the United States Of America in Con-
gTe- assembled, That the Secretary Of the Treasury
be and he l. hereby authorized TO borrow. on the
credit Oi the United States, within twelve months
IRON the passage Of this act, 1 not exceeding
two hundred and Fifty millions o: dollars or so much
thereof rs he may deem necessary for the public ser
wee, Tor which he - authorized To issue coupon
bonds, or registered bonds, Treasury notes in such
proportions Of each lac may deem advisable: tire
bonds TO bear interest not exceeding seven per cent
per anuum, payable setui-Auu tll iTreeemable for
twenty years and after that period TeieeinaiIe at
the pleasure Of the United States: and the Treasury
uotes TO be Of any denomination fixed by the Stcre-
lazy oi the Treasury, not less than fifty dollars, and
to lie payable three years after date, with Interest
Mt the rate Of seven and threcJcnts per centun per
annuns. payable seni'annualiy. Aud the Secretary
Of the Treasury may also issue in exchange for coin
AMI rs part OF the above loan, may pay salaries
Ct other dues from the United States Treasury
OF less denomination than nifty dollars not bearing
interest, but payable on demand by the Assistant
Trcasnrers Of the United States nj pIiadelnIa Nev
York or Boston, OF Treasury notes bearing interest
at the rate Of three and si&ty-ye hundredtls per
centum payable ia one from date, and exchang-
he NJ any time for Treasury notes Tor fifty dUIlais
and upwards. issuabe under the authority Of this
act, aud bearing interest specified Hbove prov-
Gtl, mat no exchange OF such notes ia less
amount than one hundred dollars shall be made at
any one time: And provided further, That no
Treasury notes shAIl lie ised of les denomination
than ten dollars, and that the whole amount Of
Treasury notes, not bearn interest issed under the
authority Of this act, shall not exceed nifty millions
Of dollars.
Sec. .. And be it further enacted. That the Trea.
snry notes aud bonds issued under the provisions OF
this act shall be signed by the First Second Comp
troller or the Register Of the Treasury counter
signed by such other officer or officers Of the Treas
uTy as the Secretary Of tho Treasury may designate
and all such obligations Of the denomination Of ty
dguRrr anu upwards shall be Issued under the seal
Of she Treasury Department. The registered bonds
snail be transferable on the books of the Treasury
on delivery OF the certificate and the coupon bonds
anu Treasury notes shall lie transferable delivery
The Interest coupons may be sigucd by such person
or persons executed in such manner As may L..
designated by the Secretary Of the Treasury, who
| shall hx the compensation for the same
Sec D. And be II further enacted, That the Secre-
tary Of tho Treasury shall cause book be opened
for subscription TO the Treasury notes for ffty dol
lars and upwards, at such places rs he may designate
ia the United states, and under ueh rules and regIl-
atons rs he may prescribe, to be superintendent by
tho assistant treasureTs Of the United stac- at their
respective localities and at other places by such
Ostorlts, P0stmasers- and other persons as he may
designate, notice thereof being given in least two
daily papers Of this city. and in or more public
newspapers published in the several places Where
subscription booksmay beopeGed; and subscriptions
Tor such notes may lie received from all persons who
may desire 10 subscribe. any law To the contrary
"lthstandng; and If larger amount shali be sub.
scribed in the aggregate than is required one time
the Secretary Of the Treasury is authorized TO rc-
CeiNe the came. should lie deem IL nlyHuta ia
mo pubIc interests and il not. lie shall accept the
amount required Nv giving the preference to the
smaller subscriptions; and the Secretary Of the
treasury shall hN the corporations Of the public
officers or others designated for receiving said cub
| seTiptions: Provided. That for performing this or
any other duty in conneXiou with this act; no com.
pensaton for services rendered shall be allowed OF
paid to any public officer whose salary is
10y law; AID the Secretary = he Treasury may also
make such other rules ar equations as he ma =
deem eHpedient touching tho instnlueut to lie maid
on any subscription at the time Of subscribing and
InEther payments by instalments or otherwise and
| Peuh'eA iOr non-paymcnt OF any tnstalnIcnt- and
also concerning the receipt, deposit aud sale keep
ms Oi money received from such subscriptions. mill
tue same can be placed in the possession Of official
repositories Of the Treasury, any law laws 10 the
! contrary Notwithstanding. And the Secretary Of
the Treasury is also authorized If lac shall deem II
eHpedent, before opening books Ui subscription as
| above provided, TO exchange Tor coin or nav for
| public dues or for Treasury OF tile Issue Of
| twenty-third of December, eighteen hundred aud
hity-scyen. and falling due the thirtiutl of June
eighteeh hundred and si1ty-one, or for Treasury
notes issued and taken in exchange for Slch notes
any amount OF said Treasury notes for hfty dollars
dollars. '''''''Oi' OF
| Sec. :. And he it further enacted That before
awarding any portion Of the loan in bonds author
lLed by this act, tho Secretary of the Treasury il lie
deem it advisable issue proposals for the same in
the United States, shall give moi les than fT,een
days public notice in two more Of the public
hewsral ers IN tho city OF Washington, and in such
other places Of the United States he may deem
advisable, designating the amount Of such loan lie
place and the time up which sealed proposals will
DC received Tor Inc same. the periods Tor thc
ana tho amount Of each instaiment in which it is
TO be paid, and the penalty FOR the uor-payment OF
any such instruments, and when and where such pro-
losls shall Is opened in the presence Of Euch per-
sons as he may choose attend; and the Secretary
OF tile Treasury is Authorized to accent the most "a.
Norahle proposals offered by responsible bidders
Provided Tha; offer shall be accepted at less thai,
! pur.
Sec g. And be it further enacted. That tho Score.
Fy oi the Treasury may, IL lac deem Il advisable
negotiate any portion OF said loan not exceeding
one hHndred millions of dollars in any foreign conn
tty' anu payable at any designated place, either in
the C'nted States or in Europe, and may issue res-
tered or coupon bonds Tor the amour: ;hus ir,tia
ted agreeahy TO the provisions OF this act bearint,
interest payable temiannually either IN the United
states OF at any designated place in Europs and he
Is further authorized to appoint such agent or AGENTS
rs he may deem necessary for ne.oistp, srcl, ioa,,
HadeF ms Instructions, and for paying the interest
ON the same, and to TX the cornpcnsation OF srrl,
agent or agents and sha prescribe to them All tile
rules regulations, and modes under which such loan
shall be negotiated and shah have rover to fix Tho
Fnie OF exchange At which the principal shall he ro
esved from the contractors for the loan and the ex-
change for the payment of the principa! and inter
| est In Europe shall he At the same rate
Sec O. And be 1t further enacted. That whenever
any treasury notes of denomination less than ~
dollars authorized be issued by this ACT shall l
been redeemed, the Secretary Of the Treasury ms
reissue the same or may cancel them and issue new
notes TO an equal amount: Provided, That the ar
Rreate amount Of bonds and Treasury notes iss1IeI
under the ioroiug provisions Of this act shall never
tjo 50 me ms ta amount authorized by the hrst sec
Won OF TINS net and the power to issne or ressne
such not Sshsi cease and determine affertbe tbiy
nrst OF December, eighteen hundred and sixty-tvo'
Sec And be 1t further enacted TI,at The Ss,ra
tAy OF the Treasury is hereby authorized whenever
ne shalI deem 1t eApedient to Issue in exchange for
COIN or in payment for public dues Tre,E1TT 5,,s
81 any o; the denominations hereinbeIore specifoi
LEARNS interest not exceeding six per eentum por
snn!un, and payable at any time not exceodinS
twelve months from date provided that he SS
OF notes so issued paid shall At No tj11s a,-i
twenty millions Of doiInns sAsse1
sec. 5 And be it further enacted That the seere
SsEy o. the Treasury shall report 70 Congress- INNS
IL'ey Ater the commencement Of the next session.
s ne mas borrowed under the provisions oi
Hnls GcL OF whom, and on what terms with A. Al,
staeI o. All the proposals, designating tho,e thai
nave oeen accepted and those that have been reiet
have been issued for the same H''S AAi2s
IS =. Ana 6e 1t further enacted That the f,itb
me Oniled states e hereby solamnIy pledged or
the payment Of the interest and Ts]s,, - ~ -