The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-12-10
LOAN ACTS OF CONGRESS.
Acts Authorizing Loans and Synopsis of
the Same.

TIIFTUsT
at q rate not exceeding six per cent. per annum,
and reimbursable at the wlll of the Secretary
after SIX months notice. or at any time after
three years from January l, 1842. The act OF
April ID, l842, authorized the loan of an add.
tonal sum OF $4,000 C00 and made the amount
obtained on the loan after the passage of this
act relmbursable after six months notice, or at
any time not exceeding twenty years from Janu-
ary /, l843. THIS loan was made for the par
pose OF redeeming outstanding Treasury totes,
ana to deiray any of the public expenses.
Act OF January 29, lS47, authorized the issue
oil Sz3OOO,OOO In Treasury notes, bearing interest
at rate not exceeding six per cent. per annum,
with authority to borrow any portion of the
amount, and. issue bonds therefor, bearing in
terest at rate not exceeding six per cent, and
redeemable after December 81 1867. The thlr-
teenth section authorized the funding of these
notes into bonds OF the same description. The
act limited the amount to be borrowed or issued
IN Treasury notes, and funded as aforesaid, to
S23, 900, 900, but authorized the funding OF Trea-
sury notes issued under former acts beyond that
amount. The excess OF the $23, 900, 900 is made
up OF Treasury notes funded under the four
teenth section.
Act of March 81, 1s4s, authorized loan of
SIG, 900 000 bearing interest at rate not exceed
log six per cent. per anuum, and relmbursable
at any time after twenty years from July l, 1913.
Authority was given to the Secretary to pur-
chase the stock at any time.
Act of september 8, 1850, authorized the issue
OF SlO00O0 900 in bonds, bearing five per cent.
interest, and redeemable ct the end of fourteen
years, to indemnify the State OF Texas for her re-
linquishment Of all claims upon the United States
for liability OF the debts of Texas and for compen-
sation for the surrender to the United States of
her ships, forts, arsenals, custom-houses etc.,
which became the property of the United States
at the time OF annexation.
Ola funded and untunded debts-Consisting
ofunclaimed dividends upon stocks issued before
the year 1860, and those issued during the war
of 1912.
Acts prior to 1s57-Diderent issues of Trea-
surY notes.
Act of December 23, 1857, authorized an issue
OF 900 in Treasury notes. bearing interest
at rate not exceeding six per cent. per annum,
and receivable in payment of all public dues,
and to be redeemed after the expiration of one
year from date of said notes.
Act OF June a. 1858, authorized q loan of
S20,000,OOO, bearing interest at rate not ex-
ceedlng nve per cent per annum, and reimburs-
able at the option of the Government at any
time after the expiration of fifteen years from
January l, 1869.
Act of June %, 1860, authorized loan of
S2l 1000, bearing interest at a rate not ex-
ceedlng six per cent per annum, and reimburs-
able within period not beyond twenty years,
ana not less than ten years, for the redemption
OF outstanding Treasury notes, and for no other
purpose.
Act of December IT, 1860, authorized an issue
OF SlO,0OO,OOO In Treasury notes, to be redeemed
after the expiration OF one year from the date of
issue, and bearing such a rate of interest as
may be offered by the lowest bidders. Authority
was given to issue these notes in payment of
warrants in favor Of public creditors at their
par value.
Act of February 8, 1851, authorized a loan of
$25, 900, 900, bearing interest at rate not ex-
ceeding SIX per cent. per annnm, and reimburs-
able within period not beyond twenty years.
This loan. was made for the payment of the
current expenses, and was to be awarded to the
most favorable bidders
Act of March 2, 1861 authorized q loan of
$l0,000000, bearing interest at a rate not ex-
ceeding six per cent. per annum, and remburs-
able after the expiration OF ten years from July
j, 1861. In case proposals for the loan were not
JUnG oFua 10 A.
whole amount in Treasury notes bearing iate-
rest at a rate not exceeding six per cent per
annum. Authority was also given to substitute
Treasury notes for the whole or any part of the
loans for which the Secretary was by law authO-
rized to contract and issue bonds at the time of
the passage OF this act aud such Treasury notes
were to be made receivable in payment of all
public dues, and redeemable at any time within
two years from March g. 1861.
Act OF March 2, 1861, authorized an issue,
should the Secretary of the Treasury deem il
expedlent, OF -, ,soO, 600 in coupon bonds, bear
ing interest at the rate of six per cent per an
mum, and redeemable in twenty wears, for the
pay yment OF expenses incurred by the Terri
torres OF Washington and Oregon in the SUP.
1856 and 1856.
Acts of July II, 1861, and August s, 1861. au-
thoriZed loan of $3.50, 900, 900, for which could
oe Issued bonds bearing interest at a rate not
exceeding seven per cent. per annum, irredeem-
able Tor twenty years, and after that redeemable
at the pleasure of the United States; Treasury
notes bearing interest at the rate of 7.3O per
cent. per annum, payable three wears after date
and United States notes, without Interest. nav,
aole on demand, to the extent of $50 600 600 (in-
creased by act of February IL, 1862, to $50 600
OOO), TO bonds and Treasury notes to be issued
IN such proportions OF each as the Secretary
may deem advisable The supplementary act
OF August b, 1861, authorized an issue of bonds
bearing SIX per cent. interest per annum, and
papable at the pleasure of the United States
after twenty years from date, which NAV be is
sued IN exchange for 7'30 Treasury notes but
no such bonds to be issued for q less sum than
5000; and the whole amount of such bonds not
10 exceed the whole amount of 7'3O Treasury
notes issued,
I Act OF February 25, 1862 authorized the issue
OF $500 OOO, 900 in six per cent. bonds redeemable
after nve years, and payable twenty Years from
date, which may be exchanged for United States
notes. Also ON March 8, 1864, authorized the
issue OF not over SlI 00O 900 additional of similar
ponds, to meet subscriptions already made and
PAD for. June 30 1864, January 28 1865. on
hap unsold in the United States or Europe.
ct OF February 25, 1862, authorized the issue
OF 9z6O,OO 600 In legal-tender United States
notes, 5000 100000 of which to be in lien of de-
hand notes issued under act of July II, 1861.
ACT OF July II, 1862, authorized an additional
lssue nHn OF Ss9O goo egsltender notes. SS5 OOO
VVO VVO OF Wnlch might be in denominations less
than $3.50 100000 OF this issue to be reserved
emergency. ~ "
Resolution Of Congress January II, 1868,
sulhorlzed the issue of 500, 600, 900 IN United
STATES notes for the immediate payment of the
army and navy, such notes to be a part of the
amount provided for in any bill that may here
aIter az G oe passed by this Congress. (The amount
3, 1861 49, wv NA "A"''n
=, Act Of March 8, I863-A further issue of
oloO,oOO OOO In United States for the purpose of
eoh'er''i'g the Treasury notes which may issued