Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1862-03-12

ters shall bo made by regular promotion from the
| list OF assistant pAymAstaFH,
Sec. g And be It further enacted, That within sig
months after the expiration Of the present inaurrec
tion tho corps of paymAstsrs and assistant paynas
teEG shall be reduced to the number of seventy Ave
Approved, July Il, 1861
[PUBIIo-No. 81
AN ACT to authorize National Loan and for
other puTpoSes.
Be It enacted by the Senate and House Of Repre-
GentAtiVes Of the United States OF America In CON
gres assembled That the Secretary Of the Treasury
10 and he is hereby authorized TO borrow On III.
credit Of the United States within twelve months
.Eom tue passage Of this act, a sum not exceeding
Two hundred and fifty millions Of dollars OF so much
thereof as he may deem necessary for the public ser
vice, for which he Is authorized TO Issue coupon
Oonds OF registered bonds or Treasury notes, In such
proportions Of each he may deem adylsable: lie
bonds to beNr interest not exceeding seven per cent
per annnm, payable Semi1nnually, irredsemable for
twenty years. and after that period relleemNble at
the pleasure Of the United SAtss and the Treasury
notes 70 be Of any denomination fixed by the Secre-
tA[y Of the Treasury, not less than fifty dollars and
to 10 payable three yeara amer date with interest
at the rate ofseYeu and threetenths per centum per
annup, payable semi.annuRlIy. Aud the Secretary
OF the Treasury may also issue In exchange for coIi
and as part Of loan, may pay tor salaries
CT other dues from the United States Treasury notes
OF less denomination than MY dollars not bearing
interest, but iiayRble demand by the Assistant
TreasuTers Of The United States at Philadelphia New
YORK or Boston, or Treasury notes bearing interest
1t the rate Of three and sixty-fvs hundredths 0er
eentum, payable in year from date and exchRnE-
AOe AZ any time Tor Treasury notes Tor fifty dollars
and uPWaidH, tEsuabls under the authority Of this
act, and bearing interest specified above: PruYi-
ded, That no exchange Of such notes in any leRs
amount than ons hundred dollars shall be made at
any one time: And provided further, That no
Treasury notes shall 10 Issued of less denominatoS
than ten dollars, and that the whole Rmonnt Of
treasury notes not bearing interest Issued under the
| OF dollars.
Sec . And be It further enacted That IN. ,rr.,.
snfy notes and bonds issued under the proVisons Of
h1 act shall be signed by the First or Second Comp.
roller, or the Register OF the Treasury and counter
signed BY such other officer officers Of the Treas.
uEy as the Secretary OF the Treasury NAV designate:
and all such obligations, Of the denomination Of aIty
dollars and upwards, shall be Issued under the seal
/ OF the Treasury Department. The registered bonds
shall be transferable on the books Of the Treasury
on delivery of the certlhCate and the coupOn onts
and Treasury notes shall be transferable ON delivery
The Interest coupons may be signed by such person
or persons or executed In such manner n may hs
designated by the Secretary Of the Treasury. who
shall TX the compensation for the samo.
Sec. y And be 1t further enacted, That the secre-
tary OF the Treasury shall cause books he opened
for subscrptiontO the Treasury notes for INV dol.
RH and upwards, ut such places as ha may designate
IN ine United states, and under such rules and regu
!atons as he may prescribe, to be superintended by
the assistant treasurerH Of the United at their
localities, and at other places by such de-
posmasters, and other persons he may
designate, notice thereof being given In at least two
daily papers OF this city and in or more public
newspapers published In the several plareS Sherc
subscription books may be opened and HulseriptionS
Tor suc notes may be received from all persons who
may desire to Rnbscrlbe any Law to the contrary not
scrbed In the aggregate than Is required ut one time
the Secretary Of the Treasury is authorized to 10,
cetVo tile same, should he deem Il advantageous TO
the public interest," and Il net. he shall accept the
amount required By giving the preference to the
g,nallOr subscriptions; and the Secretary Of the
treasury shall nix the cOmpenSatiOuR Of the DublIc
officers or Others designated for receiving said SuI
scrPtions: Provided, That, for performing this or
any other duty In eonueXOn with this act no com.
pensaton Tor services rendered shall be allowed or
paid TO any public officer whose salary b established
by law; aud The Secretary 'ho Treasury may also
make tuch other FuIes an he,
deem eGpedient touching tho instalmeut to bs Maid
on any subscription at this time Of subscribing and
further payments by instRlments or otherwise and
penalties for non.payment Of any instaIment and
also concerning the receipt, deposit, anil Ie keen
ing oil money recelTed from such subscriptious until
the same can be placed in the possesGion on ofsIHi
repositories nI the Treasury, any Law or laws to the
contrary notwithstanding. And the Secretary Of
tne treasury e also authorized, ifhs shall deem Il
e1pedlent, before opening books OF subscription as
above provided, to exchange for coin or pay for
public dues or for Treasury notes OF the iSsns 81
tUenty-thirl Of December, eighteen hundred ami
htyseven, and falling due on the thIrtieth OF June
eighteen hundred and sixty-One, or for TFe1surT
notes Issued and taken in exchange for such notes
any amount of said Treasury notes for inv dollar
OF upwards not exceeding one hundred millions Of
Sec: {. And bs It further enacted, That, before
any portion Of the loan In bonds authors
Led by this act the Secrelaryof the Treasury F he
deem It advisable to issue proposals for the aIs in
the uuited States, shall give not lees Than ffTsn
n tN ~, a IS Or moro OF the public
other places OF the United States ~ he NAV deem
adusable designating the amount Of such loan the
place and the time up to which sealed proposals viii
10 received for the same, the periods the paymenf
and the amount Of each instaImsnt in which Il "a
to be paid, and the penalty for the non-payment Of
"ny such instruments, andwhen snd where such pr
posAA shall Be opened In the presence OF such peF.
3nS e he may choose to attend; and tho Secretary
Of the Treasury b authorized to accept the most a.
yoraoie proposals., offered by responsibIe bidder.
Provided That eer shRll be accepted at les than
Sec. s. And be IT further enacted, That the seer..
saly q inc Treasury may u he deem 1t advisable
heG9tiAte any portion Of said loan, not exceeding
one hundred millions Of dollars, in any foreign c0un
Try, and At any designated pIEee either In
inc Gted States or in Europe, and may isrue reeis
tered or coupon bonds for the amount thus neCofa-
TED agTeeAby TO the provisions OF this act beSrin
interest payable semiannuay, either In the United
Il further authorized to appoint mch nr ot
as ne may deem necessary for negotiating such IoGn
Gnasr his Instructions and for paying die interest
agent or sgents and shall prescribe 10 them All tSe
rules regulations and modes under which such loSr
rate Of exchange at which the PRINCIPAL GhsII IA ~
eeved from the contractors for the lo0n AMI ne
81 S ioE the 5Ient Of the principal and inter-
| SI IN Europe ahAl be At the same rate
see, O. And be II further enacted. That whenever
nv 1Leauiy notes OF denomination laEa than INV
been redeemed, the Secretary 81 the Treasure TnsS
reissue the same, or may cancel them and iSS1S pey
notes 70 an equal amount. Provided THAT tba ~.
gregate amount Of bonds and Treaanry note iSSSI
under the toreSong provisions Of this act Gha neyer
exeeed ne ful amount authorized by the mt sec.
such not sh1l cease and determine after the thirty
nrst o. Deeember, eighteen hundred aud Exty.tVo
sec q And be Il further enacted, That the Secre-
taFy o. the Treasury e hereby Authorized hsnsVSF
eS ahAu deem IL eGpedsnt, 70 Issue In OxchSDFe or
cotn or In payment for public dues TrOasury notss
% any o. the denominations her6inheiore SDeei6ed
eeAEing Interest not exceeding Iix per eenfun TSF
ssHlntums end payable At any time not exeaedin,
2. noses e i.ued er Paid Shal At no time 0xeoed
Sec. g. And b Il further enacted sF,.t ~. g.
~ % ne Treasury shA report TO Congress immO
aiteE the eonaeneelnent Of the 1aIt solSion
tnla set q whom, and d what tsrraI, With a AZ
stLsI q all me PEopo!alS, designating thoSs that
"a - and those that have been reieCt.
Cd ana the amount Of b00d8 OF Treasure pofsS 49,
have ben tlJpOd f1r The same = sHes
Sc .. And be Il further enacted, That the fssih
q me UNITED stns q heFeby GolGEnn1y plelFed ~
ne paynent q the interest and r6dsmptEon a tbe
Pssnelial 81 the loan authorized by this aet >
/, spes 10 And ~ II further enacted That An mn
Eto11 g the ct entitled GAn 6e& % 6nf8oFls az
iell' q GEealaEy notoasS apprOVSd tho IA day q