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Washington, and in one or more public newspapers in other cities of the United States, public notice that sealed Notice. proposals for so much of said loan as is required, will be received until a certain day, to be specified in such notice, not less than thirty days from its 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 When to opened. shall be opened, on the day appointed in the notice, in the presence of such persons as may choose to attend, and the proposals decided on by the Secretary of the Treasury, who shall accept the most favorable offered by responsible bidders for said stock. And the said Secretary shall report Report to be to Congress, at the commencement of the 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: Provided, That no stock shall be disposed of at No stock to be less than its par value: And provided further, That no part par. of the loan hereby authorized shall be applied to the service Loan, how applied. of the present fiscal year.

cepted.

made to Congress.

sold for less than

loans are not sat

ury notes may be

SEC. 4. And be it further enacted, That in case the pro-, If proposals for posals made for said loan, or for so much thereof as the isfactory, Treas exigencies of the public service shall require, shall not be issued. satisfactory, the President of the United States shall be, and hereby is, authorized to decline to accept such offer if for less than the par value of the bonds constituting the said stock, and in lieu thereof, and to the extent and amount of the loan authorized to be made by this act, to issue Treasury notes for sums not less than fifty dollars, bearing interest at the rate of six per centum per annum payable semi-annually on the first days of January and July in each year, at proper places of payment to be prescribed by the Secretary, with the approval of the President; and under the like circumstances and conditions, the President of the United States is hereby authorized to substitute Treasury notes of equal amount for the whole or any part of any of the loans for which he is now by law authorized to contract and issue bonds. And the Treasury notes Amount, when payable, &c. so issued under the authority herein given shall be received in payment for all debts due to the United States when offered, and in like manner shall be given in payment for any sum due from the United States, when payment in that mode is requested by the person to whom payment

United States

for expenses.

Faith of the is to be made, or for their par value in coin. And the faith pledged. of the United States is hereby pledged for the due payment of the interest and the redemption of the principal of the stock or Treasury notes which may be issued under Appropriation the authority of this act; and the sum of twenty thousand dollars is hereby appropriated, out of any money in the Treasury not otherwise appropriated, to pay the expenses of preparing the certificates of stock or Treasury notes herein authorized, to be done in the usual mode and under the restrictions as to employment and payment of officers contained in the laws authorizing former loans and issues May be ex of Treasury notes; and it shall be at the option of holders changed for bonds, &c. of the Treasury notes hereby authorized by this act, to exchange the same for the stock herein authorized at par, or for bonds, in lieu of which said Treasury notes were issued: Provided, That no certificate shall be exchanged for Treasury notes, or bonds, in sums less than five hunNotes not to be dred dollars: And provided further, That the authority to issue the said Treasury notes, or give the same in payment for debts due from the United States, shall be limited to the thirtieth day of June, eighteen hundred and sixty-two; and that the same may be redeemable at the pleasure of the United States at any time within two years after the passage of this act; and that said notes shall cease to bear interest after they shall have been called in by the Secretary of the Treasury under the provisions of this act.

Proviso.

issued after June,

1862.

Redemption.

Interest.

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SEC. 31. And be it further enacted, That all acts and parts of acts repugnant to the provisions of this act, be, and the same are hereby, repealed.

Approved, March 2, 1861.

March 2, 1861.

Vol. XII, p. 198.

claims.

CHAP. LXX.-AN ACT TO PROVIDE FOR THE PAYMENT OF EXPENSES
INCURRED BY THE TERRITORIES OF WASHINGTON AND OREGON,
IN THE SUPPRESSION OF INDIAN HOSTILITIES THEREIN, IN THE
YEARS EIGHTEEN HUNDRED AND FIFTY-FIVE AND EIGHTEEN
HUNDRED AND FIFTY-SIX.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, *

*

Bonds may be SEC. 4. And be it further enacted, That for the payment issued for the payment of these of claims provided for in this act, the Secretary of the Treasury may, if he deem it expedient, issue to the claimants, or their legal representatives, bonds of the United States of a denomination not less than fifty dollars, redeemable in twenty years, and bearing interest at the rate

of six per cent. per annum, with coupons attached, and payable annually or semi-annually at the discretion of the Secretary of the Treasury.

Approved March 2, 1861.

CHAP. LXXI.—AN ACT FOR THE PAYMENT OF EXPENSES INCURRED
IN THE SUPPRESSION OF INDIAN HOSTILITIES IN THE STATE OF
CALIFORNIA.

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Payment for

suppression

in California.

of

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the sum of four hundred thousand dollars, or so much thereof Indian hostilities as shall be necessary, be, and the same is hereby, appropriated, out of any money in the Treasury not otherwise appropriated, to defray the expenses incurred by the State of California, in the suppression of Indian hostilities therein, in the years eighteen hundred and fifty-four, fifty-five, fiftysix, fifty-eight, and fifty-nine, and the Secretary of the Treasury, when the said expenses of the State of California shall have been audited and allowed, shall be and hereby is authorized to pay the same in bonds of the United States authorized to be issued by the act of February the eighth, 1861, ch. 29, ante, eighteen hundred and sixty-one.

*

*

Approved, March 2, 1861.

*

p. 32.

CHAP. LXXXV.—AN ACT MAKING APPROPRIATIONS FOR THE CURRENT
AND CONTINGENT EXPENSES OF THE INDIAN DEPARTMENT, AND
FOR FULFILLING TREATY STIPULATIONS WITH VARIOUS INDIAN
TRIBES, FOR THE YEAR ENDING JUNE THIRTY, EIGHTEEN HUNDRED
AND SIXTY-TWO.

March 2, 1861.

Vol. XII, p. 221.

seeton and Wahpa-ton bands of Indians.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, * For payment to the Sisseeton and Wah-pa-ton bands of Payment to Sisthe Dakotah or Sioux Indians, for their reservation on the Minnesota River, in the State of Minnesota, containing five hundred and sixty-nine thousand six hundred acres, at thirty cents per acre, one hundred and seventy thousand eight hundred and eighty dollars: Provided, That the said sum may be paid, at the discretion of the Secretary of the Treas- bonds. ury, in bonds of the United States authorized by law at the Act of Febru present Session of Congress.

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May be made in United States

ary 8, 1861, ante,

p. 32.

For payment to the Choctaw nation or tribe of Indians, 8500,000 to ChocPayment of on account of their claim under the eleventh and twelfth taw nation under the treaty, half articles of the treaty with said nation or tribe made the money and half twenty-second of June, eighteen hundred and fifty-five, the

bonds.

Ibid.

sum of five hundred thousand dollars; two hundred and fifty thousand dollars of which sum shall be paid in money; and for the residue, the Secretary of the Treasury shall cause to be issued to the proper authorities of the nation or tribe, on their requisition, bonds of the United States, authorized by law at the present session of Congress: Provided, That in the future adjustment of the claim of the Choctaws, under the treaty aforesaid, the said sum shall be charged against the said Indians.

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July 17, 1861.

Vol. XII, p. 259.

Post, p. 42.

Treasury may

months not over

istered bonds or

may be issued

Treasury notes,

terest, when pay.

able.

CHAP. V.-AN ACT TO AUTHORIZE A NATIONAL LOAN, AND FOR OTHER
PURPOSES.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Secretary of the Treasury be, and he is hereby, authorized borrow within 12 to borrow on the credit of the United States, within twelve $250,000 000. mouths from the passage of this act, a sum not exceeding two hundred and fifty millions of dollars, or so much thereof as he may deem necessary for the public service, Coupon or reg- for which he is authorized to issue coupon bonds, or notes registered bonds, or Treasury notes, in such proportions therefor. of each as he may deem advisable; the bonds to bear Post, p. 43, s. 7. interest not exceeding seven per centum per annum, payable semi-annually, irredeemable for twenty years, and Bonds, when after that period redeemable at the pleasure of the United redeemable. States; and the Treasury notes to be of any denomination denomination, in- fixed by the Secretary of the Treasury, not less than fifty dollars, and to be payable three years after date, with Post, p. 43. interest at the rate of seven and three-tenths per centum Certain Treas- per annum, payable semi-annually. And the Secretary of the Treasury may also issue in exchange for coin, and as change for coin, part of the above loan, or may pay for salaries or other R.S., 3589, post, dues from the United States, Treasury notes of a less denomination than fifty dollars, not bearing interest, but payable on demand by the Assistant Treasurers of the United States at Philadelphia, New York, or Boston, or Treasury notes bearing interest at the rate of three and sixty-five hundredths per centum, payable in one year from date, and exchangeable at any time for Treasury notes for fifty dollars, and upwards, issuable under the authority of this act, and bearing interest as specified above: Provided, That no exchange of such notes in any less amount than one hundred dollars shall be made at any one time: And provided further, That no Treasury notes

be

ury notes may issued in ex

&c.

p. 130.

Post, p. 44.

Post, p. 49.

Proviso

Proviso.

shall be issued of a less denomination than ten dollars, and Post, p. 43, s. 3. that the whole amount of Treasury notes, not bearing interest, issued under the authority of this act, shall not exceed fifty millions of dollars.

bonds,

and

how

SEC. 2. And be it further enacted, That the Treasury notes Notes and bonds issued under the provisions of this act shall be signed, &c. signed by the First or Second Comptroller, or the Register of the Treasury, and countersigned by such other officer 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 How transfer. shall be transferable on the books of the Treasury on the delivery of the certificate, and the coupon bonds and 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.

able.

&c.

scribe.

SEC. 3. And be it further enacted, That the Secretary of Books to be opened for subthe Treasury shall cause books to be opened for subscrip- scription for Treasury notes tion to the Treasury notes for fifty dollars and upwards at for $50 and over, such places as he may designate in the United States, and under such rules and regulations as he may prescribe, to be superintended by the Assistant Treasurers of the United States at their respective localities, and at other places, by such depositaries, postmasters, and other persons as he may designate, notice thereof being given in at least two daily papers, of this city, and in one or more public newspapers published in the several places where subscription books may be opened; and subscriptions for such notes Who may submay be received from all persons who may desire to subscribe, any law to the contrary notwithstanding; and if a If a larger larger amount shall be subscribed in the aggregate than is scribed, &c. required at one time, the Secretary of the Treasury is authorized to receive the same, should he deem it advantageous to the public interest; and if not, he shall accept the amount required by giving the preference to the smaller subscriptions; and the Secretary of the Treasury shall fix Pay of those rethe compensations of the public officers or others designated tions. for receiving said subscriptions: Provided, That for performing this or any other duty in connection with this act, no compensation for services rendered shall be allowed or paid to any public officer whose salary is established by law; and the Secretary of the Treasury may also make Payment of such other rules and regulations as he may deem expedient

amount is sub

ceiving subscrip

Proviso.

subscription.

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