Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1865-05-11
LAWS OF THE UNITED STATES
Passed at The First Session Of the Thirty-etghth
Congress.
IPUBLIc-NO. l47 ]


poses
Be IL enacted by the Senate and House o. KEEP
yessntattreS Of the United States Of America az
Congress assembled, ,
That the Secretary of the Treasury be, end he
is hereby authorized to borrow, from time to
time, on the credit of the United States, iour
hundred millions of dollars, and to issue mere
for coupons or registered bonds OF the uhte1
States redeemable at the pleasure OF me gov
ernmept, alter any period not less than hFe nor
more than thirty years, or, if deemed experiment
ma dc payable at any period not more than l'rly
Years from date. And said bonds shall be ol
such demon nations as the SeereiTy liHe A'oAs
IIry sh4N direG,, not .ess than fifty dollars, a"a
~ animal interest not exceed & TX per cen
tun, paya9.e semi-annua ly IN com. Ana me
Sgcrrtars Of the Treasury may dispose OF suCH
},I,G, or any part thereof and OF any theFtol,
and Of any bonds comm MY known as hVc-
tyya,ties remaining uns old, in the United States'
or if he shall ii dit exped ent, in EUROPE, any
time on such terms as he may dem mos al
visab!e- for LAWFUL money OF the Ublted S'ates,
or, at his dis retion, for tr, a5uTy no.ss. geruh
cates of ind btedne 3, OF Certificates OF depCs
issued under any &C; otCon gresi And al Do1qs'
asury notes, and other obligations oil the
Unltel stats shall be exempt from ttSat on by
0runipr s a.e or munci al authority
SIC O. And be IL ftrther enacted, That the rec
Rotary Of the a reasury may tsSua ca the cre1I
Unit "a States, ana in leu Of an equal amount OF
bonds authorized by the preceding sectlol, and
as part Of said loan, not xceeditg two hundred
million of dollsrs, ia treasury notes o. any Ce-
nomination not LEES than ten dollars. payao e
at any time not exceeding three years from date,
or ifthreugh more eXPe1i'ht, redef mao g 81
any time alter three years from date, ana bearing
interest not exceeding the rate of ven ana
three-tenths per centum, payable Ia lawlu'
money at IN liurlty, or, at the lscFetoh Of 'be
Secretary Eemi-aunua Iy, And the sara treas
ury notes may be disposed ofby the Secretary OF
the Treasury, on the best terms tnat Can oe oo.
tanned for law tul MOI ey ard such OF lheih ao
cha he made payable, prlnt lpal ana 1hle eel at
maturity, sDall he l' gal teGder to the same eH-
tent ms United States notes for their face value,
excluding interest, and may be paid to any cred
itoc OF the United States a5h ir taccYaue, exc u
ding Interest, or 10 ATTY credltor WI llhg 70 It.
90 va them at par, including interest; and any
treasury note lssuel under tn authority oi tins
net NAV be made convert Bile, at the dlSCre'loa
oftne Seare airy of the Treasury, into any Doha
issued unGer the authority Of tn ACT An tHc
Secretary Of the Treasury may redeem ahica0se
to be canoe led and destroy ed, ytret a. 10 IS
or United St ties notes heretofore issued undeT
authority OF previous acts Of Congress, ana SUP
stitute, in lieu thereof an equal am UNI OF
treasury notes such as are aQtbori BY ms act
or OF other Uni ed States note: Pr0rtded, ina.
| the total amount of bonds and treasury tes au-
thorjzed BY the first and second sections OF TINS
| act shall not exceed four hundred millions of
| dollars in addition to the amounts heretofore
issued. nor shall the total amour u OF fhe UnlLed
States otee issued or 10 be issued, ever exceed
| four hundred millions of dollars, and sach add
| itional sum, not exceeding fifty million Otdol-
| lars as may be temporarily required for the re-
demption of temporary loan; nor sEaA any
treasury note bearing interest, issued under this
| act, be legal tender in payment OF redempnon
| of any no es issued by any bank, bahEing a g.
citation, or banker, calculated or INTENDED 70 CIT
| eulate as money. 80 =,
| SEC. g. And be al further enacted, That thu
interest on all bonds heretofore issued, payabl'
| ANNUALLY, may be paid semi=annualIy; and IN lei
ofsuch bonds au horized to be issued, the Secre
| tary of the Treasury may issue bonos peaIlhl
! M mr. Ms lie
| also issue in exchange for treasu'y notes mere
| tofore issued bearing seven and three-tenthS pei
certum interest, besides the SIX per centuln
| bonds heretofore authorized, he bonds OF al
| the denominations in which such TT asury notes
| have been issued; and the interest on suct
| treasury notes maturity shall be paid in Lawful
| money, and they may be exchanged for sucf
| bonds at any time within three months IRON
the date ofnotice of by the secretan
| ofthe Treasury, af G; which the intere on suci
| treasury notes shall cease. And so muca OF I'M
| law approved NJ CHI third, eighteen hundred an'
| sixty-fluF, as limits the loau authority thereI'
10 the current fscal year, is hereoy tePgaieu
| and the autAority of the Secretary OF the Treas
| ury 10 borrow money and issue therefor bond
| or notes conferred by the Sc tim OF the act o
March third, eighteen hundred and sixty three
| entitled "An act to provide wavs and means 10
| the support of the government" shall cease o.
| and after the massage Of this act, except so Il
| asit nav effect afectl seventy-fiye, millions
| bonds already advertised.
| Sgc 4. And be u further enacted, ina, th'
| Secretary Of the Treasury may authorize me re
ceipt. as a temporary loan, Of Unit d STATE
notes or the notes OF Irrational banking as'o tatlol
on ,leposit for net less than h rty days, in sum
oFnot less than fty dollars, by any Of The aesIs
fant treasurers of the United States, or deSpos
tories for that purpose, other than tlona
banking associations who shall issue GER lilsate
of deposit in such form as the Sc reta'y OF IN
Treasury shall Ireseribe, be tfing interest no
| exceeding six rer oentum annually, an pas adj
az anv time aft-r he term of deposit, and afte
| ten DAYS subsequent notice, unless time am
mott e b. waived ~ the Secretary Of the Ireasu
J and the Secretary of the fres ury may ih-reas'