par. issue from time to time such instructions, rules, and regulations to the several collectors, receivers, depositaries, and all others who may be required to receive such Treasury notes in behalf of, and as agents in any capacity for, the United States, as to the custody, disposal, cancelling and return of any such notes as may be paid to and received by them respectively, and as to the accounts and returns to be made to the Treasury Department of such receipts, as he shall deem best calculated to promote the public convenience and security, and to protect the United States, as well as individuals, from fraud and loss. To pay notes at SEC. 9. And be it further enacted, That the Secretary of maturity and to purchase them at the Treasury be, and hereby is, authorized and directed to cause to be paid the principal and interest of such Treasury notes as may be issued under this act, at the time and times when according to its provisions the same should be paid. And said Secretary is further authorized to purchase said notes at par for the amount of principal and interest due thereon at the time of such purchase. And so much of any unappropriated money in the Treasury as may be necessary Appropriation for the purpose, is hereby appropriated for the payment of the principal and interest of said notes. therefor. New notes may be issued in place ed. SEC. 10. And be it further enacted, That in place of such of those redeem- Treasury notes as may have been paid and redeemed, other Treasury notes to the same amount may be issued: Provid But not at any ed, That the aggregate sum outstanding under the authortime to exceed $10,000,000. ity of this act shall at no time exceed the sum of ten millions of dollars: And provided further, That the power to issue and reissue Treasury notes conferred by this act shall cease Nor after Jan. and determine on the first day of January, in the year eighteen hundred and sixty-three. 1, 1863. for expenses, &c., notes. Appropriation SEC. 11. And be it further enacted, That to defray the of preparing expenses of engraving, printing, preparing, and issuing the Treasury notes herein authorized, the sum of fifteen thousand dollars is hereby appropriated, payable out of any unappropriated money in the Treasury: Provided, That no compensation shall be made to any officer whose salary is fixed by law for preparing, signing, or issuing Treasury notes. Proviso. Forging, connterfeiting, &C., SEC. 12. And be it further enacted, That if any person the notes, how shall falsely make, forge, or counterfeit, or cause or procure punished. to be made, forged, or counterfeited, or willingly aid or assist in falsely making, forging or counterfeiting, any note in imitation of, or purporting to be a Treasury note, issued as aforesaid, or shall pass, utter, or publish, or attempt to pass, utter, or publish, any false, forged, or counterfeited note, purporting to be a Treasury note as aforesaid, knowing the same to be falsely made, forged, or counterfeited, or shall falsely alter, or cause or procure to be falsely altered, or willingly aid or assist in falsely altering, any Treasury note issued as aforesaid, or shall pass, utter, or publish, or attempt to pass, utter, or publish, as true, any falsely altered Treasury note, issued as aforesaid, knowing the same to be falsely altered, every such person shall be deemed and adjudged guilty of felony, and being thereof convicted by due course of law, shall be sentenced to be imprisoned and kept at hard labor for a period not less than three years nor more than ten years, and to be fined in a sum not exceeding five thousand dollars. plate to print blank notes, with SEC. 13. And be it further enacted, That if any person Engraving shall make or engrave, or cause or procure to be made or forged notes, how punished. engraved, or shall have in his custody and possession any metallic plate engraved, after the similitude of any plate from which any notes issued as aforesaid shall have been printed, with intent to use such plate, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, or shall have in his custody or posses- Possession of sion any blank note or notes engraved and printed after the intent, &c. similitude of any notes issued as aforesaid, with intent to use such blanks, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, or shall have in his custody or possession any paper adapted to the making of such notes, and similar to the paper upon which any such notes shall have been issued, with intent to use such paper, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, every such person, being thereof convicted by due course of law, shall be sentenced to be imprisoned and kept to hard labor for a term not less than three nor more than ten years, and fined in a sum not exceeding five thousand dollars. monthly. SEC. 14. And be it further enacted, That it shall be the Secretary of the Treasury to pubduty of the Secretary of the Treasury to cause a statement lish a statement to be published monthly of the amount of Treasury notes issued and paid and redeemed under the provisions of this act, showing the balance outstanding each month. Money hereaf under act of 1860, ter contracted for ch. 180, to be ap tion of Treasury SEC. 15. And be it further enacted, That all money hereafter contracted for under the authority of the act entitled "An act authorizing a loan, and providing for the redemp- plied to redemption of Treasury notes," approved June twenty-second, eight-notes. een hundred and sixty, shall be used in the redemption of Ante, p. 26. Treasury notes now outstanding, and those to be issued under this act, and to replace in the Treasury any amount of said notes which shall have been paid and received for public dues, and for no other purposes. Approved December 17, 1860. Feb. 8, 1861. Vol. XII, p. 129. CHAP. XXIX.-AN ACT AUTHORIZING A LOAN. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the President of the United States be, and hereby is, authorized, $25 000,000 loan at any time before the first day of July next, to borrow, on authorized before July 1, 1861. the credit of the United States, a sum not exceeding twentyfive millions of dollars, or so much thereof as, in his opinion, Purpose of loan. the exigencies of the public service may require, to be used in the payment of the current demands upon the Treasury and for the redemption of Treasury notes now outstanding, and to replace in the Treasury any amount of said notes which shall have been paid and received for public dues. Stock, issue, SEC. 2. And be it further enacted, That stock shall be form, interest, transfer, &c., of. issued for the amount so borrowed, bearing interest not exceeding six per centum per annum, and to be reimbursed within a period not beyond twenty years and not less than ten years; and the Secretary of the Treasury be, and is hereby, authorized, with the consent of the President, to cause certificates of stock to be prepared, which shall be signed by the Register and sealed with the seal of the Treasury Department, for the amount so borrowed, in favor of the parties lending the same, or their assigns, which certificates may be transferred on the books of the Treasury, under such regulations as may be established by the SecNo certificate retary of the Treasury: Provided, That no certificate shall be issued for a less sum than one thousand dollars: And provided also, That, whenever required, the Secretary of the Treasury may cause coupons of semi-annual interest payable thereon to be attached to certificates issued under this act; and any certificate with such coupons of interest attached may be assigned and transferred by delivery of the same, instead of being transferred on the books of the Treasury. to be for less than $1,000. Interest coupons may be attached. Proposals for loan to be advertised for. SEC. 3. And be it further enacted, That, before awarding said loan, the Secretary of the Treasury shall cause to be inserted in two of the public newspapers of the city of Washington, and in one or more public newspapers in other cities of the United States, public notice that sealed pro posals for such a loan will be received until a certain day, to be specified in such notice, not less than ten days from its and how to be first insertion in a Washington newspaper; and such notice shall state the amount of the loan, at what periods the money shall be paid, if by instalments, and at what places. Such sealed proposals shall be opened, on the day appointed When, where, in the notice, in the presence of such persons as may choose opened. to attend, and the proposals decided by the Secretary of the Treasury, who shall accept the most favorable offered by responsible bidders for said stock. And the said Secre- Secretary of tary shall report to Congress, at the commencement of the port to Congress. next session, the amount of money borrowed under this act, and of whom, and on what terms, it shall have been obtained, with an abstract or brief statement of all the proposals submitted for the same, distinguishing between those accepted and those rejected, with a detailed statement of the expense of making such loans. Treasury to re United States. Residue of loan under act of 1830, ch. 180, how to be. applied. Ante, p. 26. SEC. 4. And be it further enacted, That the faith of the Faith of the United States is hereby pledged for the due payment of the pledged. interest and the redemption of the principal of said stock. SEC. 5. And be it further enacted, That the residue of the loan authorized by the act of twenty-second of June, eigh. teen hundred and sixty, or so much thereof as is necessary, shall be applied to the redemption of the Treasury notes issued under the act of seventeenth of December, eighteen hundred and sixty, and for no other purpose; and the Secretary of the Treasury is hereby authorized, at his discretion, to exchange at par bonds of the United States authorized by said act of twenty-second June, eighteen hundred and sixty, for the said Treasury rotes, and the accruing interest thereon. act of 1860, ch. Bonds under 180, may be exchanged at par for Treasury notes. Ante, p. 26. Appropriation for expenses uu SEC. 6. And be it further enacted, That to defray the expense of engraving and printing certifica tes of such stock, der this act. and other expenses incident to the execution of this act, the sum of twenty thousand dollars is hereby appropriated: Provided, That no compensation shall be allowed for any service performed under this act to any officer whose salary is established by law. Treasury need not accept bids unless, &c. Ante, p. 32. SEC. 7. And be it further enacted, That the Secretary of Secretary of the the Treasury shall not be obliged to accept the most favor. able bids as hereinbefore provided, unless he shall consider it advantageous to the United States to do so, but for any portion of such loan, not taken under the first advertisement, he may advertise again at his discretion. Approved February 8, 1861. 3 March 2, 1861. Vol. XII, p. 178. borrow within 12 $10,000,000. plied. deemed. CHAP. LXVIII.-AN ACT TO PROVIDE FOR THE PAYMENT OF OUT Be it enacted by the Senate and House of Representatives of President may the United States of America in Congress assembled, That the months not over President of the United States be, and hereby is, authorized, at any time within twelve months from the passage of this act, to borrow, on the credit of the United States, a sum not exceeding ten millions of dollars, or so much thereof as, in his opinion, the exigencies of the public servHow to be ap-ice may require, to be applied to the payment of appropriations made by law, and the balance of Treasury notes now outstanding, and no other purposes, in addition to the money received, or which may be received, into the Treasury from other sources: Provided, That no stipulation or contract shall be made to prevent the United States from reimbursing any sum borrowed under the authority of this When to be re- act at any time after the expiration of ten years from the first day of July next, by the United States giving three months' notice, to be published in some newspaper published at the seat of government, of their readiness to do so; and no contract shall be made to prevent the redemption of the same at any time after the expiration of twenty years from the said first day of July next, without notice. Stock, issues, SEC. 2. And be it further enacted, That stock shall be of interest, trans- issued for the amount so borrowed, bearing interest not exceeding six per centum per annum; and the Secretary of the Treasury be, and is hereby, authorized, with the consent of the President, to cause certificates of stock to be prepared, which shall be signed by the register and sealed with the seal of the Treasury Department, for the amount so borrowed, in favor of the parties lending the same, or their assigns, which certificates may be transferred on the books of the Treasury, under such regulations as may be established by the Secretary of the TreasCertificates to ury; Provided, That no certificate shall be issued for a less than $1,000. sum than one thousand dollars: And provided, also, That, Coupons may whenever required, the Secretary of the Treasury may certificates, rate fer. be for not less be attached. Proposals for loan to be advertised for. cause coupons of semi-annual interest payable thereon to be attached to certificates issued under this act; and any certificate with such coupons of interest attached may be assigned and transferred by delivery of the same, instead of being transferred on the books of the Treasury. SEC. 3. And be it further enacted, That, before awarding any of said loan, the Secretary of the Treasury shall, as the exigencies of the public service require, cause to be inserted in two of the public newspapers of the city of |