Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1864-10-13

penalties, and forfeitures, recovered
by virtue of this act, shall, after de
Quoting all proper costs, and charges
be disposed of and applied as provided
in the ninety-first section Of the acl
entitled "An act to regulate the col
lection of duties on imports and ton
mage" approved on the second o
March, in the year one thousand sew
en- hundred and nincty-iiine
Approved, June %, 1864.
[PUBuc-No. l47.l
AN ACT to provide Ways and Means
for the Support of the Government,
and for other Purposes. '''.t
BE ii enacted By the Senate and Houst
of Representatives. of The Umited States Of
America an Congress assembled, That
the Secretary Of the Treasury be, and
he is hereby, authorized to borrow,
from time to time, on the credit Of the
United States, four hundred millions
Of dollars. and to issue therefor cou.
pom or registered bonds of the United
States, redeemable at the pleasure of
the government, after any period not
less than five, nor more than thirty,
years, or, If deemed expedient, made
payable at any period not more than
forty years from date. And said bonds
shall be Of such denominations as the
Secretary of the Treasury shall direct,
not less than fifty dollars, and bear an
annual interest not exceeding six per
centum, payable semi-annually in coin.
And the Secretary of the Treasury
may dispose Of such bonds, or any
part thereof, and of any bonds COM
monty known as fve-tweuties remain
ing uusold, in the United States, or if
he shall find it expedient, in Europe,
at any time. on such terms as he may
deem most advisable, for lawful mon
icy of the United States, or, at his dis
erection, for treasury notes, certificates
OF indebtedncss. or "artificatce or &c
posit issued under any act OF congress.
And all bonds, treasury notes, and
other obligations Of the United States
shall be exempt from taxation by or
under state or municipal authority.
Sec. 2. And be it further enacted,
That the Secretary Of the Treasury
may issue on the credit Of the United
States, in lieu of an equal amonnt Of
bonds authorized by the preceding
section, and as part of said loan, not
exceeding two hundred millions of
dollars, in treasury notes of any de-
nomination not less than ten dollars,
payable at any time not exceeding
three years from date. or, if thought
more expedieDt, redeemable at any
time after three years from date, and
bearing interest not exceeding the
rate OF seven and three tenths per Gen.
tum, payable in lawful money at ma
turity, or, at the discretion of the Sec
retary, semi-annually. And the said
treasury notes may be disposed Of by
the Secretary Of the Treasury. on the
best terms that can be obtained, for
lawful money; aud such of them as
shall be made payable, principal and
interest, at IN maturity, shall be a legal
tender 10 the same extent as the Uni
ted Safes notes for their face value,
excluding interest, and may be paid
to any creditor Of the United States
at their face value, excluding interest,
or to any creditor willing to receive
them at par, including interest and
any treasury notes issued under the
authority of this act may he made con-
vertible, at the discretion Of the Sec
retary of the Treasury, into any bonds
issued under the authority Of this act.
And the Secretary of the Treasury
may redeem and cause to be cancelled
and destroyed any treasury notes or
United States notes heretofore issued
under authority Of previous acts oi
congress, and substitute, in lieu there
of, an equal amount of treasury notes
such al are authorized by this act, OF
of other United States notes Prorl
ded, That the total amount of bonds
and treasury notes authorized by the
FIRST and second SECTIONS of this ac,
shall not exceed four hundred millions
of dollars, in addition to the amounts
heretofore issued nor shall the tota
amount of the United States notes, is
sued or TO be issued, ever exceed foul
hundred millions of dollars, and such
additional sum, not exceeding fifty
millions of dollars,sas mpy be tempo
! rarily required for tho, redemption o
. temporary loan !; nor shall any treasu
~ note bearing interest. issued undel
this act, be legal tender in paymen
Tor redemption OF any notes issued BY
any bank, banking association, q
banker. calculated or intended to Cir
, cu!ate as money.
:. Sec. 8. And be it further enacted
That the interest ON all bonds hereto
fore issued, payable annually, may bt
paid semi,annually; and in lieu Q
, such bonds authorized to be issued
the Secretary Of the Treasury may is
: sue bonds bearing interest, payable
, semi-annually. And he may also is
cue in exchange for treasury notes
heretofore issued bearing seven ant
. three tenths per centum interest, be
sides the six per centum bonds here
/: tofore authorized, like bonds of all tn,
denominations in which such treasury
/. notes have been issued and the in
(; terest on such treasury notes afte
: maturity shall be paid in lawful mon
: ey, and they may be exchanged 70
/; such bonds at any time within three
/. months from the date Of notice OF re
!. demption by the Secretary Of tn
Treasury, after which the interest o.
!, the treasury notes shall cease. An