Page:United States Statutes at Large Volume 5.djvu/650



Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That when any outstanding treasury notes, issued in pursuance of the act of thirty-first August, one thousand eight hundred and forty-two, entitled “,” or any previous act of Congress, shall, after the passage of this act, be redeemed at any time before the first day of July, one thousand eight hundred and forty-four, the Secretary of the Treasury, should the wants of the public service require, may cause other notes, to the same amount, to be issued in place of such as may be redeemed, under the limitations and other provisions of the respective acts by which said notes were originally authorized and issued.

. And be it further enacted, That, after maturity of the treasury notes issued under said, or of this act, interest may be paid thereon, in the same manner as on the treasury notes authorized previous to the fifteenth April last, under the ninth section of the act approved on that day, entitled “.”

. And be it further enacted, That, in lieu of issuing the treasury notes in the manner authorized by the first section of this act, the President, if in his opinion it shall be for the interest of the United States so to do, may cause any of said notes now outstanding, to be redeemed and cancelled as they become due, if the Secretary of the Treasury cannot redeem them out of the funds in the treasury, by an issue of stock of the United States, for the amount thus redeemed, in the same form, for the same time, and under the same restrictions, limitations, and provisions, as are contained in an act approved April fifteen, eighteen hundred and forty-two, entitled “,” except that no commissions shall be allowed or paid for the negotiation of such business; and except also that said stock so to be issued, shall be redeemably at a period not longer than ten years from the issue thereof.

, March 3, 1843.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the act entitled “,” approved on the nineteenth day of August, eighteen hundred and forty-one, be, and the same hereby is, repealed: Provided, That this act shall not affect any case or proceeding in bankruptcy commenced before the passage of this act, or any pains, penalties, or forfeitures, incurred under said act; but every such proceeding may be continued to its final consummation in like manner as if this act had not been passed.

, March 3, 1843.