Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-02-28
TpualIc-No. 81

Approved, July II, 1851.
IpuHuc-No. 81
AN ACT to authorize n National Loan and for
I'D su8 other purposes. 40 '- asfs Po
Re It enacted by the Senate aud House Of Repre-
sentatives Of the United States Of America in Con
grefs assembled, That the secretary OF the Treasury
be and he l. hereby authorized to borrow, on the
credit of the United States, within twelve months
from tue pasPge Of this act, sum not exesedinE
thereof he nay deem necessary for the public
vice. for which lie is authorized to issue coupon
bonds or registered bonds or Treasury In suc
proportions of each as he may deem advisable; the
bonds interest not exceeding seveh per cent.
per annum, payable semiannuaiiy, trredeemabie for
twenty years, and After that period TedeeHnbleGt
tbs pleasure of the United Sintes and the Treasury
TO be Of any denomination h1ed by the Secre-
tary Of the Treasury, not less than my dollars and
TO be payable three ye'fTs after date with Interest
ut the rate Of seven and threetenths per centum per
annuni, payable semiannually. Aud the Secretary
Of the Treasury may also issue in change for coin,
and as Part ofthe above loan or may pay Tor slaries
CT other dues from the United States, Treasury notes
of less denomination thup fifty dollars, not bearing
interest, but payable demand by the Assistant
Tresurers of the United States at Philadelphia New
York Boston, or Treasury notes bearing interest
the rate of three aud Eixty-tivs hundredths per
centum, payable in year from date and sxciang-
able at any time FOR Treasury notes for Hty dollars
aud upwaSds, isspable under the authority OF this
act and bearing interest specified above: ProN-
dei. That no exchange Of such Notes in any less
amount than hundred dollars shall be made at
Treasury notes shall Le issued ola less denomination
than ten dollars, and that the whole amount OF
Treasury notes not bearing interest Issued under tho
authority OF this act, shall not exceed bity millions
of dollars.
sec. 2 And he it further enacted, That tho Trea-
sFy notes aud bonds issued uuder the provisions of
this act shall be signed by the RIrst Second Comp
troIler The Register Of the Treasury and counter
signed by such other officer or officers of the Treas
rry as the Secretary OF the Treasury may designate
aud all such obligations. of the denomination of fifty
dollars and npwurds, shall be issued under tile seal
Of the Treasury Department The registered bonds
shall be transferable the books Of the Treasury
delivery Of the certificate, aud the coupon bonds
and Treasury nutesshall be transferable on delivery
The Interest coupons may be signed by such person
or persons, executed in suclI manner, may be
designated by the Secretary Of the Treasury, who
shall fix tile compensation for the same.
Sec ). And be II further enacted, That the Score
tnry of tito Treasury shall books to be opened
Er subscription to tie Treasury notes for hfIy dol
lars and upwards at such places Hs has may designate
In the United States and under sncI rules and reg-
iations he may prrsclibc 10 be nperintenued by
the assistant ttesurers Of tile United states their
respective localities and at other plHces by such de
pOsIories, postmasteTs ard other persons he may
designate, office thereof being given natleast two
daily papers of ttscity, and In one OF more public
newspapers published in the severed places where
subscription bookstnAy beopenedi and subscriptions
for such notes may be received from NIL persons who
may desire subscribe any law TO the contrary not
wthStauding; aud ifH tUTger amount shall lie sub
scrtbe In the thah Is relulred az ons tne'
the Secretary Oi the IrSASury Is authorized TO re-
ceITe tile same should lie deem it tnlVRntng eous to
the public Interest; and II not he shall accept the
smaller subscriptions; and tile Secretary OF the
Treasury shall lx-tlIsr CUmpeB,sstieus Of the public
officers or others designated Tor receiving said sub-
serntions: PROVIDED That, for q forming this or
any other duty III connexOn with this act CONF
pensation for services rendered shall be ALLOW ed or
paid 70 any public Chcer Whose salary Ia established
By law; aud tho Secretary G he Treasury may ALEC
/ make sucl other rules ar equations he may
deem expedient touching tho nstalment TO be paid
any subscription tile time Of subscribing, and
further Payments by instalnt nts otherwise, and
Ieualtie- for non-payment OF any lIntalment; and
also concerning the receipt, deposit ana sale Keep
ing OF money received from such subscriptions until
the same can DO placed in the possession OF official
Repositories Of the Treasury, any law laws the
| contrary Notwithstanding. And the Secretary OF
the Treasury e also authorized, II he shall deem II
expcient, before apeDing books OF subscription as
| above provided, TO exchange for coin pay for
1 public dues for Treasury notes OF the issue OF
| iwenty-third OF December, eighteen hundred aud
hityseyeu, and falling due the birtieth of June,
4 eighteen hundred and sixtyole, or fo= Treasury
notes Issued aud taken in exchange for such notes,
any hinOu"t of said Treasury NOTES for Ity dollars
dollars '''~ ''',''
Sec. 1. And be it further enacted. That before
awarding any portion of the loan in bonds author
lied by this act the Secretary Of the Treasury IL lie
deem it advisable TO issue proposals for the same in
the United States. shall give not less than fteen
days public notice in two more of the putIc
newspapers in the city OF Washington, and in such
other places of the United States as he may deem
advisable, designating the amount of such loan. the
place and the time up to which scaled proposals will
be received for the same the the payment
to be paid, and the penalty for the nonpayment Of
Sny such instruments. and when and where Snch pro-
| IOsih pIt7tllCe SllCn per-
sous he may choose to attend; aud the Secretary
of the Treasury is authorized accept the most IA
vorRble proposals. offered by responsible bidders {:
Provided That offer shall be accepted at less than
par. -E-- EE=Es 5r7=9 = =, - sFrs,
See s-Ana bert fufth 81 enacted, TliattlIe seOsc-
tary of the Treasury may, II he deem it advisable,
negotiate any portion of said loan, not exceeding
one hundred millions of dollars in any foreign couiI-
try, and payable at any designated place, either in
the United StAtes or in Europe, and may issue regis
tered coupon bonds for the amount thus negOtia-
ted agTeeaby to the provisions of this act bearing
interest payable semiAnnrnlly either in the United
States or at any designated place In Europe; and tc
is further authorized to appoint such agent agents
as he may deem necessary for negotiating such loan
under his Instructions and for paying the interest
on the same, and to nix the compensation of sucl
agent or agents, and shall prescribe TO them all tile
rules regulations, and modes under which such loan
shall be negotiated, and shall have power fix the
rate OF exchange nj which the principal shall be- re.
change for the payment of the principal and inter
| est in Europe shall be at the same rate RI % 4
Sec. 6. And be 1t further enacted. That whenever
any Treasury notes. OF denomination less than fiy
dollars authorized to be issued by this act shall have
been redeemed, the Secretary Of the Treasury may
reissue the same. may cancel them and issue new
notes to an equal amount: Provided, That the ag-
SregAte amount Of bonds and Treasury notes fssue
under the foregoing provisions OF this shall never
exceed the fail amount authorized by the frst SEC
ton of this acts and the power issue or reissue
sneh moi shall cease and determine after the thirty
| hrst of December, eighteen hundred and sfxty-two
Sec. Z. And be it further enacted THAT the secre
tary of the Treasury is hereby authorized whenever
he shall deemit expedient 70 issue In exchange for
coin, in payment for public ues, Treasury notes
OF of the DENOMINATIONS specifie(l