The New York herald., 1865-03-01
The Six Hundred Million Loan Bul.

WASHINGTON Feb. 2S, 1855.
the Following is copy OF tho Loan bill as passed by
the House to-day. The Senate has yet to act on IT,
SECTION l-Be 1t enacted &c, That the Secretary Of
the Treasury be- and he hereby authorized borrow
from time 70 tme the credit OF the United States In
addition TO IDS amount heretofore authorized any sums
not exceeding In the aggregate six hundred millions Of
ana 70 issue therefor bonds Treasury Of
sne onea STATES In such form he may prescribe; and
SO much thereof as may be issued in bonds shall be Of
denominations not less than fifty dollars and may be
from oate OF ISSUE or may be made redeemabe at the
pleasure OF the or after any period not
less than nve years nor than forty years from date
or may be made redeemabe and payable aforesaid "a
may be expressed upon their face and much thereof
- may % issued in Treasury notes may be made
sct and may be Of such denominSions no. % .,s isss
than nfty dollars, and bear such date and
made redeemable or payable at such periods as in
deemed expedient and the interest such bonds shall
be payaSle sernannually and all Treasury notes
sciniannualy or annually at maturity thereof and
the principal interest," both shall be made payable
In con or other lawful money provided that the rate OF
interest sues bonds Treasury notes shall exceed
six per centum per annum; and when not payable in
coin shall and three ensfs per centum
per annum and the and OF The interest
shall be expressed all such bonds obligations
Treasury notes. and provided further that the act
titled IAN act to provide ways and for the sup
port OF the governments and for other purposes" ap
proved June 80, 1864 shall be construed TO
authorize the issue of bonds Of any description authorized
by TINS act, ana any treasury notes or other
obligations bearing interest, issued under any
act Of Congress may, at the discretion of the
Secretary Of the Treasury and with the consent
OF the holder, be converted into any descrip
ton OF bonds authorized by this act and no
bonds authorized shall be considered part Of the
amount OF six hundred millions heretofore authorized
SEC. BE 1t further enacted That the Secretary OF
the Treasury may dispose OF any of the bonds other
obligations Issued under this act either in the United
States or elsewhere, In such and at such rates
and under such conditions he may think advisable,
for coin for other lawful money of the United States
or for any Treasury notes, certificates Of indebtedness
certificates of deposit other representatives Of value
which have boen may be issued under any OF Con
gres and may his discretion issue bonds Treasury
notes authorized by this act In payment for any requ
stons for any materials supplies which shall have
been made by tho appropriate department officers Of
the United Sates receiving notice In writing through
the department Office making the requisiton
that tho Of the claim for which the requision
issued desires subscribe for amount Of the loan
that will said rcqution or any part thereof and
all bonds other obligations iued under this act shall
be exempt from taxation by or under State municipal
authority.
SEo a-And be It enacted, that all the provisions Of
the act entitled An act to provide ways and for
the support of the government for other purposes
approved June 30 1854 relation FORMS inscriptions
devioes and the printing atestaton sealing signing and
countseitng thereof with such Others applicable
shall apply tho bonds other cations issued under
this provided that nothing herein contained shall be
construed authorizing the Issue OF legal tender notes
In any FORM and not exceeding per centum Of
the OF bonds and other issued under
this act hereby appropriated 70 pay the expense Of
preparing and issuing the and disposlg thereof