Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-01-20

S1StAut shall nave rank anu preCeu0nCe
with assistant surgeons not passed. and that all APP
pointments to fill vacancies in the corps of paymas
tiers shall be made by regular promotion from the
| list of assistant paymnsters.
Sec 6. And be it further enacted, That within six
months after the expiration of the present insurec
| ton the corps of paymasters and assistant paymas
ters shall be reduced to tho number of Seventy-hve
in the whole.
Approved, July Il, 1861.
[PuBLIC-No. ST.
AN ACT to authorize National Loan and for
other purposes.
Be it enacted by tho Senate and House Of Repre-
sentatives of the United States of America in Con-
gress assembled, That the Secretary of the Treasury
be and he is hereby authorized to borrow, on tho
credit Of the United States, within twelve months
from tue passage of this act, sum not exceeding
two hundred and fifty millions of dollars, much
thereof as 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 per cent
per annum, payable scmi-anually, irredeemable for
twenty years. and after that period rpdeemRblc ut
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 years after date, with interest
at the rate of seven and threetents per centum per
| NnnuM, papablo semi.annually. And the Secretary
Of tho Treasury may also issue in exchange for COIN
and part Of thG0boVc loan, may pay salaries
other dues from the United States Treasury notes
of less denomination than fifty dollars, not bearing
| interest, but payable demand by the Assistant
Trcasurers of the United States nt PHILADELPHIA New
York or Boston, or Treasury notes bearing interest
at the ratio of three and siXty-ive hundredtls per
Ccntum, payable in year from date, and exchange
able at any time for Treasury notes tor fifty dollars
and upwards, issUnbO under the authority OF this
act, and bearing interest specified above: PrOVi-
died. That n" exchange oI such notes III any less
amount than one hundred dollars shall DO made at
| my one time: And provided further, That no
Treasury notes shall he issued of less determination
| than ten dollars, and that tho whole amount of
Treasury notes, not bearing interest, issued under the
authority of this act, shall not exceed fifty millions
| of dollars.
| Sec q And be it further enacted That the Trea-
sMry notes and bonds issued under the provisions of
this act shall be signed by the First Second Comp
roler, or tho Register of the Treasury, and counter
signed by suclI other officer officers of the Treas
ury tho 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. Tho registered bonds
shall be transferable the books of the Treasury
on delivery OF the certlc2te and the coupon bonds
and Treasury notes shall be transferable delivery
The interest coupons may bo signed by such person
| or persons, executed i'll such manner as may be
designated by the Secretary of tho Treasury, who
| shall fix the compensation for tho same.
Sec g. Aud be it further enacted, That the Sccrc
tHry Of the Treasury shall cause books to be opened
for subscription to the Treasury notes for fifty dol
lars and upwards, at such places as he may designate
in the United States, AMI under such rules and regu
ations as lie may prescribe, to be superintcndcd by
tho assistant rcnsurcrs of the United States at their
respective localities anu at other places by such de-
posttOres, pustnhEteTS, and other persons ms lie may
designate notice thereof being given in at least two
daily papers Of this city. and i'll moro public
newspapers published in the several places where
subscription bUOksnlay heOPcncd; and subscriptions
for snc notes may he received from all persons WHO
may desire to subscribe any law to the contrary NOT
withsandinG; and if a larger amount shall be sub
scrbcd in the aggregate than is required ut time
the Secretary of the Treasury is authorized to re-
Ccivc the same, should lie deem it advantageous to
the public interest; aud il not lie shall accept the
amount required by giving the preference to the
smaller subscriptions; and the Secretary of tho
Treasury shall fix the conpeusatons of the public
officers or others designated for receiving said sub
scriptiEns: Provided, That, for performing this or
any other duty in connection with this act, COM
pCnsation for services rendered shall be allowed
paid to any public officer whose salary is established
by law; and the Secretary C he Treasury may also
mako such other rules arc equations Hs lie may
deem oXpcdicnt touching tho instalmcnt to be paid
any subscription at the time of subscribing and
further payments by instalments or otherwise, and
, penalties for nOn-payment of any instaImcnt and
also concerning the receipt, deposit, and safe keep
ing OF money received from such subscriptions until
the same can be placed i'll the possession of official
repositories of the Treasury, any law laws to the
= contrary notwithstanding. And the Secretary al
the Treasury is also authorized, he shall deem il
eXPodcnt, before opening books Of subscription MS
public dues or for Treasury notes of tho issue al
twcnty-tllir'l of December, eighteen hundred and
hftyscven, and falling due the thircth of June
eighteen hundred and sixty-one, or for Treasury
notes issued and taken in exchange for such notes
any amount of said Treasury notes for fifty dollars
dollars ''O' e>s''"'' OHO n"n"'eu H'A''OhS o.
Sec. 4. And be it further enacted, That, bcfor,
lied by this net, the Secretary of tho Treasury if C
deem it advisable to issue proposals for the same in
the Quilted States, shall give not less than fifteen
:,
newspapers in the city of Washington, and in suc
other places of the United States aB he may deem
advisable designating the amount of such loan the
place and the time mp to which sealed proposals will
be received for the same, the periods for the payment
and the amount of each instalment in which it i.
to be paid and the penalty for the non-payment o.
any such instruments, and when and whore such pro
posas shall be opened in the presence of such per
sons as he may choose to attend; and tho Secretary
Of the Treasury is authorized to accept the most m
vorable proposals offered by responsible bidders;
Provided, That offer shall be accepted thar
i par.
Sec. 5. And be it further enacted That the Score
tary OF the Treasury may, if he deem it advisable
negotiate any portion of said loan, not exceeding
hundred millions of dollars in any foreign conn
try and payable At any designated place, either il
the Uited States or in Europe and may issue regis
tered or coupon bonds for the amount thus negotia
ted agreCably to the provisions of this act bearing
interest payable semi-annualy, either in the United
states or at any designated place in Europe; and liz
is further authorized to appoint such agent or agents
as he may deem necessary for negotiating such loan
under his Instructions, and for paying the interest
l on the same and to fix the compensation of sncI
agent agents, and shall prescribe to them all the
rules regulations and modes under which such Iool
shall he negotiated, and shall have power to fix Tho
rate of exchange at which the principal shall be re-
ceived from the contractors for the 0an the ex
change for the payment of the principal and inter
est in Europe shall be at this same rate
Sec. 6. And be it further enacted, That whenovel
any Treasury notes, of denomination less than fifty
dollars, authorized to be Issued by this shall have
been redeemed, the Secretary of the Treasury may
t notes to an equal amount: Provided, That the ag
gregate amount of bonds and Treasury notes issued
uhuer the foregoing provisions of this act shall never
exceed the full amount authorized hy the first sec
ton OF this act: and the power to issue or reissue
Such mol shall cease and determine after the thirty
: HEst OIL december, eighteen hundred and sixty-two
sec. And be it further enacted, That the Score
ay OF t9e treasury is hereby authorized whenever
coin, or in payment for public dues Treasury Notes
OF any OF the denominations hereinbefore gDecifieI
bearing interest not exceeding six per centum peT
) annum, and payable at any time not eTceediino
twelve months from date, provided that the amnnmf
OF notes so issued paid shall at no time eTceeI
twenty millions of dollars SAN''u
Sec. g. And be it further enacted, That the Seero.
tary OF the Treasury shall report to Congress- mme
dlAtely after the commencement of next session
the amount he has borrowed under the provisions 81
this act OF whom, and on what terms, with an ali.