The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1868-04-04
20 nfIr.

Be Il snactsd By the Senate pnd House 1
Representatives. Of The United States 4
america in Congress assemblsd. That u
Secretary Of the Treasury Of the Unite
states, or such officer. as may be authoriIed
be, and be iereby, authorized and "a
quired to issJe Treasury certificates, no
bearing interest, in denominations OF one
two, three, FIVE, ten, twenty, fifty, one hun
dred, five hundred, and one thousand dol
lars, which Treasury certificates shall be "a
ceivable in payment OF all debts and de
mands Of every kind due, or which may be
come due, to the United States, and OF Al
claims or demands against the Unites
States of every kind whatever, Except tn
portion Of the bonded debt created prior 4,
the first day Of July, one thousand eigb
hundred and sixty one, and the interest an,
principal Of the national debt which Ia,
been BY law expressly made payable in coin,
and shall also be lawful money aud leRa
tender in the payment Of all debts, publ,
and private, within the United States, ant
shall be receivable for, or convertible into
the interest bearing bonds az the Unites
States, authorized to be issued BY this act
when presented to the Treasury DEPART
ment Of the United States in sums of no,
less than one hundred dollars.
SIC. 2 And be IL further enacted, Thai
the Secretary of the Treasury Of the United
States, Or such other officer al NAV he
authorized by law, be, and il hereby. re-
Z Quired 20 issue bonds OF the United States
/ n denomination of not less than one hmm.
\ bred dollars, nor more than ten thousand
dollars bearing lawful interest, and PAYABLE
or redeemabie in Treasury certificates
authorised TO be issued and. declared lawful
money Of the United States by this act, when
presented to the Treasury Department Of
the United States at any time after three
months from the date thereof: ProUided,
That bonds shall be dated on the hrst Of
January, April, July, and October.
SEC 5. and be IL further enacted, Thai
the bonds hereby authorized, and all other
lnterest-bearing obligations of the United
States issued after the passage II this act,
shall bear interest at the rate CT three per
centum per annun, payable semi-annually
10 the Treasury certificates or lawful money
authorized by this act, until otherwise
provided by law: Provided, That Congress
may change the rate Of interest on the
bonds hereby authorized, and on all other
interest bearing obligations Of the United
States issued after tee passage Of this act,
when in their judgment tbe public interest
would be promoted thereby; but no Law
making any alteration in the rate Of interest
on the public debt shall take effect for SIX
months after its passage.
SIC lind be u further Enacted, That
the Secretary Of the Treasury, or such other
officer as may be authorized by law, be, and
is hereby, required to pay all the outstand-
ing bonds or other obligations Of the United
States created since the FIRST Of July, one
thousand eight hundred and sixty one, when
the same shall become due and pay able, or
due and redeemable at the pleasure Of the
Government, in the Treasury certificates
hereby au horned to be issued, or TO give IN
exchange therefor til interest bearing bonds
authorized to be issued ~ this act, at the
pleasure Of the owner OF any such bond or
other obligation Of the United States, except
when it Las been expressly provided by Law 1
that such bond or other obligation shall be 4
paid in coin; and the Secretary OF the /
Treasury is hereby authorized and directed
from time TO time, AZ the same may be re-
quiTed, to purchase with the Treasury cert- I
dcstes, OF Understanding bonds hereby
authorized to b issued, by sealed bids OF
otherwise, ss may be most advantageous to
the public interest, the coin necessary to pay
the interest and principal Of the bonds aud |
other Obligations of the United States which |
have BY law been expressly made payable in /
coin; and the Secretary Of the Treasury 10 |
hereby directed to give notice, by publication
in Two newspapers published in Washington /
city, TO the holders Of any such outstanding !
bonds or other obligations Of the United \
States to present the same at the Treasury
Department for such payment or exchange 4
within FIVE months from the date OF The pab- !
licatlOn Of such notice, or at the time the \
same may thereafter become due and payable. .
or redeemable at the pleasure Of the Govern
ment, and the interest shall cease to accrue
on all such bonds and other obligations Of .
the United States not presented for such 4
payment exchange vi hin the Time before 4
mentioned, or from the time any such 4
bo1d or obligation shall thereafs become
due and payable, or red enable at the
pleasure 81 81 the Government.
SEC. 5. AHd be it further enacted, That
the Secretary OF the Treasury, or such 7
other officer as may u authorized BY law, be,
and be is hereby, directed 10 procure, by .
having the same manufactured 10 order on
otherwise, the paper and other material (
necessary for the printing Of the Treasury .
certificates and bonds hereby authorized to .
be issued, and to cause plates and dies to be
engTave ed in the best manner to guard 4
against counterfeiting and fraudale alter +
alton, and to have printed therefrom and 1
numbered such quantity Of said Treasury
certificates and bonds aud Of such denomina-
lions as may from time to time be required |
for the transaction Of the business Of the
Treasury Of the United States; the said
Treasury certificates and nteIest-bearing
bonds shall have such devices and state (
ments, and shall be ~ such form, and have
signatures written or engraved thereon, as
the Secretary of the Treasury may deter
mine upon, and the expences necessarily in
Cured in procuring sad Fessury certificates
and bonds shall be inciuued with and de-
frsyed 10 the same manner as the ordinary
expenditures Of the Government.
SKc. 6. Ind be IL further enacted, That in
order TO prevent ami punish counterfeiting
and fraudulent alterations Of the Treasury
certificates and bonds authorized to be issued
by this act, all the provisions Of the sixth
and seventh sections of the act entitled "An
act to authorize the issue Of the United States
notes, and for the redemption or funding there
Of and for funding the floating debt Of the
United States" approved February 25, one
thousand eight hundred and sixty-two, az
far as applicable, apply to the Treasury GER
tifcates and Understanding bonds hereby
authorized to be issued in like manner as il
the said sixth and seventh sections were
herein incorporated aud hereby adopted as
additional sections Of this act; and the pro-
visions and penalties Of the said sixth and
seventh sections shall extend and apply 30
4 Al Ma hall
make, or sell any paper such as that used, or
/ provided 20 be used, for the Treasury certi6
Gates, or bonds - be prepared in the Trea-
sury buildings, and to all officials Of the
Treasury Department engaged in engraving
or preparing the Treasury certificates and
bonds hereby authorized 70 be issued, and
10 all official and unofficial persons 10 any
manner employed under the provisions OF
this act.
SIC. 7. And be IL further enneted, That
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