Page:United States Statutes at Large Volume 12.djvu/289

 THIRTY—SEVENTH CONGRESS. Szss. I. CB. 5. 1861. 259 ' .tion of co of Lit;;? paymasters shall be reduced to the number of seventy  m the  W& Approved, July 17, 1861. Cnun V. —·· An Act to authorize c National Loan and for other Purposes. Jul? Na 1861- Be {t enacted Qy the Senate and Ewa of Representatives of the United Stale: of America in Cimgress assembled, T hat the Secretary of the Treas- Secretary of ury bc, and he is hereby, authorized to borrow on the credit of the United E’°“’“"5'.'Q‘@Y Smxes, within twelve months from the passage of this act, a sum not ex- t;;;?;:,;';;;;!, ceeding two hundred and fifty millions of dollars, or so much thereof as Mt vver he may deem necessary for the public service, for which he is authorized $25°*°°°>°°°‘ to issue coupon bonds, or registered bonds, or treasury notes, in such prc· isgézwgoggri, portions of each as he may deem advisable; the bonds to bear interest not treasury nom exceeding seven per centum per annum, payable sembanmxally, irredecm- 3a}' F8 i”“°d able for twenty years, and after that period redeemable at the pleasure of m °r` the United States; and the treasury notes to be of any denomination N£‘;f:{,;h°° Exed by the Secretary of the Treasury, not less than fifty dollars, and to T n M_ be payable three years after date, with interest at the rate of seven and ,g9¤?:i::‘§0:; ’ three tenths per centum per annum, payable semhannually. And the i¤¢¤¤‘¤S¢: Whw Secretary of the Treasury may also issue in exchange for coin, and as p°y°m°’ part of the above loan, or may pa for salaries or other dues from the United States, treasury notes of a {ess denomination than fifty dollars, not Ce:-min treasury bearing interest, but payable on demand by the Assistant Treasurers of “°;g$.m“Y gw “" the United States at Philadelphia, New York, or Boston, or treasury zi,. ,,°i:_ez;_mg° notes bearing interest at the rate of three and sixty—5ve hundredths per 1861, ch-46,§§ L centum, payable in one year from date, and exchangeable at any tipne for S' P°“· p' m3' treasury notes for fifiy dollars, and upwards, issuable under the authority of this act, and bearing interest as specified above: Provided, That no p,-°,,g,,_ exchange of such notes in any less amount than one hundred dollars shall Post. pp. 345, 370. be made at any one time: And provided further, That no treasury notes Pwvisvshall be issued of a less denomination than mu dollars, and that the whole PM p_ 313 amount of treasury notes. not bearing interest, issued under the authority of this act, shall not exceed fifty millions of dollars. Sec. 2. And be it further enacted, That the treasury notes, and bonds Notes and issued under the provisions of this act shall be signed by the First or ;’;’“‘§i ig: Second Comptroller, or the Register of the Treasury, and countersigncd gu ’ ` by such other offcer or officers of the Treasury as the Secretary of the Treasury may designate; and all such obligations, of the denomination of fifty dollars and upwards, shall be issued under the seal of the Treasury Department. The registered bonds shall be transferable on the books of How mmm. the Treasury on the delivery of the certificate, and the coupon bonds and ¤bl¢· treasury notes shall be transferable by delivery. The interest coupons may be signed by such person or persons, or executed in such manner, as may be designated by the Secretary of the Treasury, who shall fix the compensation for the same. Sec. 3. And be it further enacted, That the Secretary of the Treasury shall cause books to be opened for subscription to the treasury n0£cs for Bsgdkifo ba fifty dollars and upwards at such places as he may designate in the United ;§§Pd0n°§;);“ States and under such rules and regulations as he may prescribe` to  u-usury nom for snpcrintended by the Assistant Treasurers of the United States at them $50 °“d °V°*'»&°· respective localities, and at other places, by such depcsitaries, pgstmaeters, and other persons as he may designate, notice thereof being given m at least two daily papers of this city, and in one or more public newspapers pubiisbed in the several places where subscription books may be opened; who !   b and subscriptions for such notes may be received from all peniscns who unay mibh di-Bsirc to subscribe, any law to the contrary notwithstandmg; and 1f a Ifmgeumoum larger amount shall be subscribed in the aggregate than is required at one is sub¤cribed,&¤. time, the Secretary of the Treasury is authorized to receive the same, should he deem it advantageous to the public interest; and 1f not, he shall