Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-02-26

act of March Sd, 1883, in ten-fortys, SIOO 900
be put in the msrket, redeemsble in mot less
than i've years nor more than fifty. A
MI. Stevens asked for the immediate passage
Mr. Brooks asked It the bill did not also au-
thorize the Secretary ofthe Treasury to issue an
| additional amount OF ten twelve millions on
the $50 stock already subscribed for.
millions.
By common consent, action on the bill was
Postponcd until the bill could be printed.
| 3 The Naval appropriation bill was then taken
The bill which Mr.. Stevens introduced to-day
| Supplementary to au act entitled an Act to
/ provide for the ways and means for the support
is as follows;
Be it enacted &c, that in lieu Of so much ofthe
loan authorized by the set Of March Sd, 1853, to
which this is supplementary, the Secretary OF
the Treasury Is authorized to borrow f. ON tins
to time, on the credit Of the United States, two
hundred millions OF dOll6rs during the current
fiscal yesr, and to prepare and Issue therefor
coupon and registered bonds Of the United
Ststes, redeemsble at the pleasure Of the Gov
ernment after any period not less than five years
and payable at any period not more than forty
years from date, and Of such denomination as
may be found eIpedieut, not less thsn ffty dol
lars, and bearing interest not exceeding six per
cent ear, payable IN bonds not over one hnn-
semi-snnually in coin. He may dispose OF any
such bonds a. any time and vt such terms as
may be deemed advisable, for lawful money OF
the United States, or st his discretion for Treas
ury notes, certificates Of indebtedness, or GER
tifeates Of depositissued under any act OF Con
gress, and all bonds issued under this act shall
be exempted from taxation by or under State or
municipal authority, and the Secretary o { the
Treasury shall pay all necessary expenses of
preparation, issue and disposal ofsuch bonds out
OF any money in the Treasury not appropriated.
but the amounts paid shall not exceed one half
Of one per cent OF those so issued and disposed
Of
I'd. That the Secretary is hereby authorized
to issue to persons who subscribed on or before
the 2lst Of January, 1854, for bonds redeemable
after five yesrsI and payable twenty years from
date, and have paid into the Treasury the /
amount Of their subscriptions, the bonds by them
respectively subscribed for, notwithstanding
suo t,.assfa may he in sIcsss of vs. hum
dred millions Of dollars, and the bonds soissued
ahall have the same force fsnd effect as il is |
sued under the provisions Of the act to author
ize tie issue Of United States notes, and for 9TH
er purposes, approved February 26th, 1852.
The consideration Of the bill has been post |
poned. |
The clause appropriating S2l5 900 for the Phila-
delphia Navy Yard was discussed and stands as |
reported by the Committee. After a long de. |
bate Mr., Thorns moved that a new section |
providing for the erection Of floating docks for |
monitors at New York and Philadelphia, be in |
serted. Agreed to.
The bill then passed.
The bill to extend the time, on the withdrawal /
OF goods from plblic stores and bonded ware
houses, was taken up and amended by changing /
the time from the first Of June to the first OF /
September.
The House then adjourned.