The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1866-03-27

r.zed if he shall deem it expedient, before open
ing books OF subscription above provided, to
exchange for coin or pay Tor puDhc cues OF Ior
treasury notes of the issue of twenty-thlrd OF De
cember eighteen hundred and tifty-sevcn, and
falling due on the tlIirtieth of June, eighteen
hundred and sixty-onc, or for treasury notes Is
sued and taken in exchange for such notes, any
amount of said treasury notes for h1ty dollars OF
upwards not exceeding one hundred millions OF
GallarS. ~,
See f. And be it further enacted, That, be-
fore awarding any portion of the loan IN bonds
authorized by ts act te ,, %. ronnsss
LOT the same III the United States, shall give not
less than fifteen days public notice IN Two or
more Of the public newspapers III tue city OF
Washington, and in such otter places of the unit
ed States as he may deem advisable, designating
the amount of such loan, the place and the time
up TO which scaled proposals will be received for
the same, the periods for the payment, ana the
amount, of each instalmenf i'll which it is TO be
paid, and the penalty for the non-paylncnt OF any
such instruments, and when and where siich pro
posaIs shall be opened in the presence OF such
persons may choose to attend; and the Secre-
tary of the Treasury Is authorized TO accept me
most favorable proposals offered by responsible
bidder: Provided, That no offer shall be accepted
at less than par.
See 5 And be it further enacted, tt at the
Secretary of the Treasury may, if he deem it ad
visabic, negotiate any portion OF said loan, not
exceeding one hundred mi mons Oh collars, III any
foreign country and payable at any designated
place either in the United States or IN Europe,
and may issue registered or coupon bonds for the
amount TINS negotiated ayrccably to the provl-
siOns Of this act, bearing interest payable semi
annually either in the United States or at any
designated place in Europe; and he Is further au-
thorized to appoint such agent or agents Is he
may deem necessary for negotiating sHch loan un.
der his instructions, and for paying the interest
on the same and to fiX the compensation OF such
agent or agents, and shall proscribe to them All
the rules, regulations, and modes under winch
such loan shall be negotiated and shall have pow
to fix the rate Uf exchange at which the pfln-
cfDal shall be received from the contr. ciOrs for
the loan, and the exchange for the payment of the
principal and interest in Europe snail he at the
rate.
Sec &. And be it further enacted, That when
ever any treasury notes OF Il denomination less
than fifty dollars authorized TO be issued by this
act, shall have been redeemed, the Secretary OF
the Treasury may reissue the same, or may can
&c! them and issue new notes 10 an equal amount;
Fovidcd, That the aggregate amount or bonds
and treasury notes issued under the foregoing
provisions OF tlis act shall never exceed the full
amount authorized BY the first section Of this
act; aad the power TO issue, or reissue s!ch
notes shall cease and determine alter tie thirty
first CT December, eighteen hundred and sixty
two.
See = And be it further enacted, That the
Secretary of the Treasury is h"r2,y authorized,
whenever he shall deem it cXi'cticnt TO issue III
exchange for coin, or i'll payment fnT pi!bic Dues
treasury notes of any OF the denominations here
ibtforG spcriiicl bearing interest NOT exceeding
six per ccntum per annun, and ;al' able at any !
time not exceeding tW Give months rom date,
provided thai the amount of notes 50 iss:!td or
paid, shall at 10 time exceed twenty millions OF
dollars.
See s And be it further enacted, That the /
Secretary OF the Treasury shall report to Con /
esrt~$, immediately &ttcr the commencement oi (
the next session, the amount he has borrowed ,
uder ilie provisions OF this act, Of whom, and on
what terms, with abstract 81 I'LL the proposals,
designating those that have been accepted and |
those that have been rejected, and the amount OF
bonds or treasury notes that have been issued for
the same.
See o. Aud be it further enacted, That the /
fifth of the United States is hereby sOlemny |
pledged for the payment Of the interest aud re |
demption Of the principal OF the loan authorized !
by this act.
See 10. And be it further enacted, That ali the .
provisions OF the act entitled . An act to author-
IL the issue OF treasury notes, approved the !
twcnty-tlirI day of December, eighteen hundred !
and fifty seven far the same can or lnay be
applied 10 the provisions OF tits act, ana not in
consistent herewith hereby revived or re- !
enacted
See. Ii. And be it further enacted That to de-
fray all The expenses that may attend the eNccu-
ton Of this act, the sum of two hundred thou F
sand dollars, or 50 much thereof may be
sarv, be and the same is hereby appropriated, to
be paid out OF any money in the Treasury not .
otherwise appropriated.
Approved, July II, 1861.