Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-01-17

peIntmentS to MI vacancies in the corps OF pRymas.
tors shall be made 10y regular promotion from the
list of assistant paynaStcTS.
Sec 6. And be it further enacted, That within six
months after tho expiration Of the present insurTec
ton the corps of paymasters and assistant paymas
ters shall he reduced to the number Of sevcnty-Ve
ia the whole.
Approved, July IL, 1861.
[PUBLc-No. 81
AN ACT to authorize National Loan and for
other purposes.
&c 1t enacted by the Senate and House Of Repro
sentatves Of the United States OE America in Con-
Eres assembled That the Secretary of the Treasury
he and he is hereby authorized to borrow, the
credit OF the United States, within twelve months
from the passage of this act, exceeding
two hundred and fifty millions Of dollars, much
thereof lie 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 advisable; the
bonds to bear interest not exceeding per cent
per annum, payable semi-Annually, irTedcemabo for
~ onty years, ami after that period reIiecmHGe
the pleasure of the United States; and the Treasury
notes to be of amy denomination fixed by the Secre-
tary OF the Treasury, not less than fifty dollars and
TO be payable three years after date, with interest
at the rate Ofseven and thrcetents per CentHm per
annin!, payable semi-anHUally. And the Secretary
of the Treasury may also Issue in exchange for coin,
and part of the above loan or may nay Tor salaries
other dues from the United States Treasury notes
of less denomination than fifty dollars bearing
interest, but payable demand by the Assistant
Tre3ssuTeT5 Of the United States at Philadelphia, New
York OF Boston, or Treasury notes bearing interest
at the rate Of three and siXty-ive hundredtbs per
payable IN date, and cSChhuH
able at any time for Treasury notes fifty dollars
and upwards, issuabe under the authority Of this
act and bearing interest as specified above ProYi
ued, Ihat no exchange OF such notes i'll any less
amount than one hundred dollars shall be made at
any one time: And provided further, That no
Treasury notes shall lie issued of less denomination
than ten dollars, and that the whole amount of
Treasury not bearing interest issued under the
authority of this act, shall not exceed fifty millions
of dollars.
Sec. =. And be it further enacted, That the Trea-
sury notes and bonds issued under the provisions of
| zNnNI InnE
troler the Register Of the Treasury and counter
signed by such other officer officers of the Treas
TTy 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 bc transferable ON the books of the Treasury
delivery of the certificate, and the coupon bonds
and Treasury netcs shall he transferable delivery.
The Interest coupons may be signed by such person.
| or persona, executed in such manuer, as may he
designated by the Secretary of the Treasury, who
| shall fix the compensation for the Einlc.
Sec ). And be it further enacted, That the Score
tlry Of the Treasury shall cause books to be opened
for subscription to the Treasury notes FOR fifty dol
lars and upwards, at such places he may designate
III the United States, and under such rules and
latiOns he may lrCScribc be supcru ended by
the assistant treasurers Of tho United States at their
respective localities ana at other places by such de-
pOsitorcs postmastcrs, ard other persons lie may
designate, notice thereof being given in at least two
daily papers OF this city. and in more public
newspapers published in the several places where
subscription buuEsmay bcOpcne: and subscriptions
for such be received from all pcrsony who
may desire to subscribe any law the contrary not
wtstanding; and if larger amount shall be sub
scribed i'll the gErcgatc than is required at one time
the Secretary Of the Treasury is authorized to re-
cetrc the same, should he deem it advantageous to
the public interest; aud if not he shall accept the
amount required by giving the preference to the
SInalIor SUBSCRIPTIONS; aud the Secretary Of the
Treasury shall fix the corporations Of the public
officers or others designated for receiving said sub
scriptons: Provided, That, for performing this or
any other duty i'll connection with this act no COM
pcnsation for services rendered shall Ice allowed
paid to any public officer whose salary is established
by laws and the Secretary e. he Treasury may also
make such other rules arr equations as lie may
deem eXpedient touching tlu instulmcnt tu be maid
on any subscription at the time of subscribing, and
further payments by instruments or otherwise and
penalties for nonlaymcnt of any iustalmcut and
ais" concerning the receipt deposit and keen.
ing Of money received from such subscrptuns until
the same be placed in the posse ssion Of official
repositories Of the Treasury, amy law laws to the
contrary Notwithstanding And the Secretary al
the Treasury is also authorized, lie shall deem il
OXpcdicnt, before opening books oil subscription as
above provided, to exchange for coin pay FOR
public dues or for Treasury notes of tho issue Of
twcnty-tIirl Of December, eighteen hundred and
hlty-scVen and falling duo on the thirtieth Of June
eighteen hundred and siXty-onc, or for Treasury
notes issued and taken in exchange for such notes
any amOn"t Of said Treasury for fifty dollars
olI %i%''' NOT exceeding ON" 'nd'S' millions Of
Sec. i. And be it further enacted That. lcc,re
awarding any portion Of the loan il, bonds author.
lied by this act, the Secretary of the Treasury if lie
deem IT advisable to Issue proposals for the in
the SWle1 states, shall give not less than fifteen
days public notice in two more Of the public
newspapers in the city of Washington, and in such
advisable, designating the amount of such loan, the
place and the time up to which scaled proposals will
hc received for the the periods tho paymcnt
ana the amount of each instalment i'll which it is
to he paid, and tho penalty for the nou.payment OF
any such instruments, and when aud where such nro
posais shall be opened in the presence of such rer-
SONS as he may choose to attend; and tho Secretary
oil the Treasury Is authorized to accept the most IA
vorabJe proposals offered by responsible bidders
Provided, That offer shall be accepted ut less than
par.
Sec. .. And be it further enacted That the Secre-
tarS OF the Treasury may. If lie deem it advisable
Negotiate any portion of said loan, not exceeding
one hundred millions Of dollars, i'll any foreign cou
Try and payable at any designated place, either in
the U,ted States i'll Europe. aud NAV issue regis
tered or coupon bonds for the amount thus negoia
ted agTceaby TO the provisions of this act bearing
interest payable scni-annuay, either in the United
States or at any designated place in Europe; and he
IS further authorized to appoint such agent or agents
as he may deem necessary for negotiating such loan
under his instructions and for paving the interest
ON the same, and to fix the compensation of suCl
agent agents, and shall prescribe them all tho
rules regulations, and modes under which such Ios
rate of exchange at which the principal shall be ro
ceiYCG from tic 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 fifty
dollars, authorized to be issued by this shall have
Deen redeemed, the Secretary of the Treasury may
reissue the same. nr may cancel them and issue new
notes 10 an equal amount: Provided, That the ag.
greRate amount of bonds and Treasury notes issued
under tho foregoing provisions of this act shall never
cNceCd tho full amount authorized nv the first scr.
ton OF this acts and the power to issue or reissue
ucn mol sall cease and determine after the thirty
hrst oil December, eighteen hundred and sixtv.fyro
Sec. z. And be it further enacted That fbs Sore
tary OF the Treasury is hereby authorized whenever
ne snail acem 1t eSpedient, to issue in exchange for