Delaware State journal and statesman., 1865-03-31
Approved, March ., 1866.
1PusLlo-No. 55.


pUBLlo-NO. 55
AN AGr 10 provide ways and means for the sup
port Of the government.
Be il enacted by the Senate and House Of
Representatives Of the United Stotes of Americn
in Congress assembled, That the Secretary of
the Treasury be, and he is hereby, authorized
to borrow, from timc to time, on the credit of
the United States, in addition to the amounts
heretofore authorized, any sums, not exceeding
in the aggregate six hundred millions of dollars,
and 10 Issue therefor bonds or treasury notes
of the United Strtes, in such form as he may
prescribe and SO much thereof as may be
issued in bonds shall be of denominations not
less than fifty dollars aud may be made paya-
bile at any period not more than forty years
from date of issue, or may be made redeemabe,
at tho pleasure Of the government, at or after
auy period not less than We years nor more
than forty years from date, or may be made re-
deemable and payable rs Aforesaid as may be
expressed upon their face; and so much thereof
as may be issued in treasury notes may be made
convertible into any bonds authorized by this
oct, aad may be of such ACKNOWLEDGEMENTS
less than fifty dOllers-aud bear such dates and
be made redeemable or payable Mt such periods
as in the opinion of the Secretary of the Trea-
sury may be deemed expedient. And tho inte-
rest OH such bonds shall be payable semi-an-
pually and on treasury notes authorized by
this act the interest may he made payable semi
annually, or annually, Or at maturity thereof !;
and the principal, or interest, or both, may be
mado payable in coin or in other lawful money:
Provided that the rate of interest on any such
bonds or treasury nOtea, when payable in coin,
shall not exceed six per centum per annum ;
and when not payable in coin shall not exceed
seven and three tehths per centum per annum; /;
and the ratio and character of interest shall be
expressed on all such bonds or treasury notes
And provided further, That the Act entitled IAN
act to provide ways and means for the support
Of the government and for other purposes" ap-
proved June thirtieth, eighteen hundred and
sixty four, shall be so construed as to authorize
the Issue of bonds of any description authorized
by this act And 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, lie converted into any description
of bonds authorized by this act and no bonds
so authorized shall be considered part Of the
amount Of six hundred mill ons hereinbefOre
authorized.
Sec. 9. And be it further enacted, That the
Secretary of the Treasury may dispose of any Of
the bonds or other obligations issued under this
act, either in the United States or elsewhere, in
such manner and at such rates, and under such
conditions as he may think advisable, for coin
or for other lawful money Of the United States,
or for any treasury notes, certificates of indebl-
edness, or certificates of deposit or other repre-
sentatives of value, which have been or may be
issued under any act Of Congress; and may, at
his discretion issue bonds OF treasury nutGs
authorized by this act, in payment for any re
auisitions for materials or supplies which shall
have been made by the appropriate department
or Offices upon the treasury Of the United States,
on receiving notice in writing through the de-
parimeut or office making tho requsitiOn, that
The owner Of the claim for which the requisition
is issued desires to subscribe for on amount Of
loan that will cover said requisition, or any
mart thereof; aud all bonds or other Obiga-
lions issued under this act shall be exempt from
taxation by or under State or municipal author
ity. -,
Sec. 8. And be il further enacted, That all
the provisions of the act entitled "An act to
provide ways and means for the support of the
government, and for other purposes" approved
June thrtieth, eighteen hundred and sixty four,
in relation 10 forma, Inscriptions, devices, and
the printing, altestation, sealing, signing, and
couuterfeiting thereof, with such others as are
applicable, shall apply to the bonds and other
obligations issued under this act: Provided,
That nothing herein contained shall be con-
stsued as authorizing the issue of legal tender
notes in any forms and sum not exceeding
one per centum of the amount of bonds and
other obligations issued under this act, is here
by appropriated to pay the expense of preparing
and issuing the same, and dsposing thereof.
Approved, March 8, 1865.