The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-12-10

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authorized by the joint resolution of Congress
January IL, 1868.
Act Of April 12 1866, provided that Of United
States notes not more than $40, 600 may be
retired and cancelled within six months from
the passage OF this act, and thereafter not more
than $iOOO,0O0 in any one month; and pro-
vided, further, that the act to which this is an
amendment shall continue in fall force in all
/ Its provisions except as modified by this act.
Act of February 20 1862, authorized tempo
rary loan of $25 900, 900 in United States notes,
Tor not less than thirty days, payable after ten
days notice, at five per cert. interest per
annum. This was increased 10 Sl0O, 200, 900 by
| the following acts:-March IL, 1862 authorized
an increase OF temporary loans OF S25, 900, 900,
bearing interest at a rate not exceeding five per
cent. per annum. July IL, 1862, authorized
| further increase of temporary loans of $780,
100000, making the whole amount authorized
Act of June 80, 1868, authorized the increase
OF temporaryloaus to not exceeding $3.50, 900, 900,
at rate not exceeding six per cent.
Act OF March g. 1868, authorized loan of
S3OOOOO,0O0 for this and 5000 900 for the
next fiscal year, for which could be issued bonds
running not less than ten, nor more than forty
| years, principal and interest payable in coin,
bearing interest at rate not exceeding six per
cent per annum, payable In bonds not exceed.
ing SlCO annually, and on all others semi-annu
ally, the whole amount OF bonds. Treasury
notes and United States notes issued under this
act not 10 exceed the sum of 5000, 900 000 And
so much of this act as limits the loan to the
current fiscal year Is repealed by act OF June 3d.
1864, which also repeals the authority to borrow
money conferred by section l, except so far as
it may affect S75,0O0,OOO of bonds already
advertised
Act OF March 3, lS63-And Treasury notes to
the amount OF S4O0,0 600, not exceeding three
years TO run, with interest at not over per
cent. per annum, principal and interest payable
IN lawful money, which may be made legal
tender for their face value, excluding interest,
or convertible into United states notes. Secre-
tary may receive gold on deposit, and issue GER
thcates therefor in sums not less than $40.
A 10 nj
bonds not exceeding $780, 100000, bearing date
March !, 1864, or any subsequent period, Ie-
deemable at the pleasure OF the Government
after any period not less than five years, and
payable at any period not more than forty
years from date, in coin bearing interest not
exceeding per cent. yearly, payable on bonds
not over $l00 annually, and on all other bonds
scmi-annually, in coin.
Act of March l, 1862, authorized an issue of
certificates of Indebtedness, payable one year
from date, in settlement of audited claims
against the Government. Interest six per cent.
per annum, payable in gold; and by act of March
3, 1868, payable in lawful currency on those
issued after that date. Amount OF issue not
specified.
Act of July II, 1862, authorized on issue of
notes of the fractional parts OF 81, receivable in
payment of all dues, except customs less than
So, and eXchangeable for United States notes in
sums not less than So. Amount OF issue not
specified.
Act of March 8, 1868, authorized an issue not
exceeding $50, 900 in fractional currency lin
lieu of postage or other stamps), excnangeable
for United States notes in sums not less than So,
and receivable tor any dues TO the United States
less than SIS, except duties on imports. The whole
| amount issued, including postage and other
stamps issued as currency, not to exceed
S50,000 600. Authority was given to prepare it
in the Treasury Department under the super
vision of the Secretary.
Act Of June 80, 1864, authorized an issue in
lieu of the issue under acts of July IL, 1862, and
March 3, 1868, the whole amount outstanding
under all these acts not to exceed $50, 100000
Act OF June 80, 1864, authorized the issue of
S400, COO of bonds redeemable at the plea.
sure of the Government after any period not less
than five nor more than thirty years, or, if
deemed expedient, made payable at any period
not more than forty years from date. And said
bonds shall bear an annual interest not exceed
ing six per ocntun, payable seml-aunually In
coin. And the Secretary OF the Treasury may
dispose of such bonds, or any part thereof, and
of any bonds commonly known Jas Five-twenties,
remaining unsold, on such terms as he may
deem most advisable for lawful money of the
United States, or, at his discretion, for Treasury
notes, certificates Of Indebtedness, or certificates
of deposit issued under any act OF Congress.
Act of March 8, 1868, authorizes an issue of
Treasury notes, not exceeding three years to
rum interest at not over six per cent. per annum,
principal and interest payable in lawful money.
Act of June 80, 1864 also authorizes the issue
OF and in lieu of an equal amount of bonds
authorized by the first section, and as part OF
said loan, not exceeding 5000 900, 900 in Treasury
notes OF any denomination not less than $40,
payable at any time not exceeding thIee years
from date, or ii thought more eKpedient, re-
deemable at any time after three years from
date, and bearing interest not exceeding the
rate OF seven and three-tenths per centum, pay
able in lawful money at maturity, or, at the
discretion of the Secretary, semi-annually; and
such of them as shall be made payable, princi-
pal and interest, at maturity, shall oe legal
tender to the same extent as United
States notes, for their face value, excluding
interest, and may be paid to any creditor OF
the United States, at their face value, exclud-
ing interest, or to any creditor willing
to receive them at par, including interest; and
any Treasury notes issued under the authority
OF this act may be made convertible, at the dis
cretlon OF the Secretary of the Treasury, into
any bonds issued under the authority of this
act, and the Secretary may redeem and cause
to be cancelled aud destroyed any Treasury
note or United States notes heretofore issued
under authority OF previous acts of Congress-
and substitute in lieu thereof an equal amount
OF Treasury notes, such as are authorized by
this act, or of other United States notes; nor
shall any Treasury note bearing interest issued
under this act be a legal-tender in payment or
redemption OF any note issued by any bank,
banking association, or banker, calculated OF
intended to circulate as money.
Act of January %, lS65-The whole amount
may he Issued in bonds or Treasury notes. at the
discretion of the Secretary.
Act OF March g. 1865, authorized an issue of
5000, 600, 900 in bonds or Treasury notes; bonds
may. be made payable at any period not more
than forty years from the date of issue or NAV
be made redeemable at the pleasure of the Gov.
ernment, at or after any period not less than
five years nor more than forty years from date
or may be made redeemable and PAYABLE as
aforesaid, as may be expressed upon their face
and so much thereof as may be issued in Trea-
sury notes may be made convertible into any
bonds authorized by this act and be of such
denominations, not less than $50, and bear such
dates and be made redeemable or payable at
such periods as the Secretary of the Treasury
nav deem pXDe0ipnf. The intarast On tho bonie