the Treasury au ceive deposits of to amount of $50,000,000. Secretary of SEC. 3. And be it further enacted, That the limitation thorized to re- upon temporary deposits of United States notes with any Treasury notes assistant treasurers or designated depositaries, authorized by the Secretary of the Treasury to receive such deposits, at five per cent. interest, to twenty-five millions of dollars, shall be so far modified as to authorize the Secretary of the Treasury to receive such deposits to an amount not exceeding fifty millions of dollars, and that the rates of interest shall be prescribed by the Secretary of the Treasury not exceeding the annual rate of five per centum. p. 129. May issue new SEC. 4. And be it further enacted, That, in all cases where notes in place of those worn out. the Secretary of the Treasury is authorized by law to R. S., 3580, post, reissue notes, he may replace such as are so mutilated or otherwise injured as to be unfit for use with others of the same character and amount; and such mutilated notes, and all others which by law are required to be taken up and not reissued, shall, when so replaced, or taken up, be destroyed in such manner and under such regulations as the Secretary of the Treasury may prescribe. Approved March 17, 1862. July 11, 1862. Vol. XII, p.332. issue $150,000,000 p. 128. be of denomina $5. CHAP. CXLII.-AN ACT TO AUTHORIZE AN ADDITIONAL ISSUE OF Be it enacted by the Senate and House of Representatives Authority to of the United States of America in Congress assembled, That Treasury notes. the Secretary of the Treasury is hereby authorized to issue, in addition to the amounts heretofore authorized, on the credit of the United tates, one hundred and fifty millions R. S. 3571, post, of dollars of United States notes, not bearing interest, payable to bearer at the Treasury of the United States, and of such denominations as he may deem expedient: $35,000,000 may Provided, That no note shall be issued for the fractional tions from $1 to part of a dollar, and not more than thirty-five millions shall be of lower denominations than five dollars; and such notes Receivable for shall be receivable in payment of all loans made to the duties on imports United States, and of all taxes, internal duties, excises, bonds, &c, and debts, and demands of every kind due to the United States, 6 per cent. bonds. except duties on imports and interest, and of all claims and demands against the United States, except for interest upon bonds, notes, and certificates of debt or deposit; and shall also be lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest, as aforesaid. And any holder of said United States notes depositing any sum not less than fifty dollars, or some multiple of fifty all dues except and interest on convertible into R. S., 3473, 3588, pp. 109, 130. coin. R. S., 3579, post, p. 129. May exchange dollars, with the Treasurer of the United States or either of the Assistant Treasurers, shall receive in exchange therefor duplicate certificates of deposit, one of which may be transmitted to the Secretary of the Treasury, who shall thereupon issue to the holder an equal amount of bonds of the United States, coupon or registered, as may by said holder be desired, bearing interest at the rate of six per centum per annum, payable semi-annually, and redeemable at the pleasure of the United States after five years, and payable twenty years from the date thereof: Provided, however, That May be paid in any notes issued under this act may be paid in coin, instead of being received in exchange for certificates of deposit as above specified, at the direction of the Secretary of the Treasury. And the Secretary of the Treasury may exchange for such notes, on such terms as he shall think most beneficial bonds for any to the public interest, any bonds of the United States bear- standing and reing six per centum interest, and redeemable after five and may cancel any payable in twenty years, which have been or may be law- others in fully issued under the provisions of any existing act; may reissue the notes so received in exchange; may receive and cancel any notes heretofore lawfully issued under any act of Congress, and in lieu thereof issue an equal amount in notes such as are authorized by this act; and may purchase, May purchase any outstanding at rates not exceeding that of the current market, and cost evidences of debt. of purchase not exceeding one-eighth of one per centum, any bonds or certificates of debt of the United States as he may deem advisable. six per cent. notes now out issue notes, and notes and issue place. their Notes may be engraved, print ury Department. SEC. 2. And be it further enacted, That the Secretary of the Treasury be, and he is hereby, authorized, in case he ed, &c., in Treasshall think it inexpedient to procure said notes, or any R. S., 3577, post, part thereof, to be engraved and printed by contract, to p. 128. cause the said notes, or any part thereof, to be engraved, printed, and executed, in such form as he shall prescribe, at the Treasury Department in Washington, and under his direction; and he is hereby empowered to purchase and provide all the machinery and materials, and to employ such persons and appoint such officers as may be necessary for this purpose. posits of notes $50,000,000 to SEC. 3. And be it further enacted, That the limitation Limit to deupon temporary deposits of United States notes with any extended from Assistant Treasurer, or designated depositary authorized $100,000,000. by the Secretary of the Treasury to receive such deposits, to fifty millions of dollars be, and is hereby repealed; and the Secretary of the Treasury is authorized to receive such deposits, under such regulations as he may prescribe, to reserved to pay such amount as he may deem expedient, not exceeding one hundred millions of dollars, for not less than thirty days, in sums not less than one hundred dollars, at a rate of interest not exceeding five per centum per annum; and any amount so deposited may be withdrawn from deposit, at any time after ten days' notice on the return of the certificate of deposit. And of the amount of United States notes $50,000,000 notes authorized by this act, not less than fifty millions of dollars deposits. shall be reserved for the purpose of securing prompt pay. ment of such deposits when demanded, and shall be issued and used only when, in the judgment of the Secretary of the Treasury, the same or any part thereof may be needed for All certificates that purpose. And certificates of deposit and of indebtedof deposit and of indebtedness ness issued under this or former acts may be received on the same terms as United States notes in payment for bonds redeemable after five and payable in twenty years. convertible into bonds. Time of obtain ing loan author July 17, 1861, ex- SEC. 4. And be it further enacted, That the Secretary of ized by act of the Treasury may, at any time until otherwise ordered by Congress, and under the restrictions imposed by the "Act to authorize a national loan, and for other purposes," borrow, on the credit of the United States, such part of the sum of two hundred and fifty millions mentioned in said act as may not have been borrowed, under the provisions of the same, within twelve months from the passage thereof. Appropriation for punishing coin, contained in 1860, applied to of United States, ch. 205, 1860. SEC. 5. And be it further enacted, That any part of the counterfeiting of appropriation of ten thousand dollars for the detection and act of June 23, bringing to trial of persons engaged in counterfeiting the bonds, notes, &c., coin of the United States, made by the act entitled "An act making appropriations for the legislative, executive, and judicial expenses of the government for the year end. ing thirtieth of June, eighteen hundred and sixty-one," approved June twenty-three, eighteen hundred and sixty, may be applied in detecting and bringing to trial and punishment persons engaged in counterfeiting Treasury notes, bonds, or other securities of the United States, as well as the coin of the United States. And to carry into effect the preceding sections of this act the sum of three hundred thousand dollars is hereby appropriated, out of any money in the Treasury not otherwise appropriated. Provisions of SEC. 6. And be it further enacted, That all the provisions. 25, 1862, applica- of the act entitled "An act to authorize the issue of United act of February ble to this act. Ante, p. 44. States notes, and for the redemption or funding thereof, and for funding the floating debt of the United States," approved February twenty-five, eighteen hundred and sixty-two, so far as the same can or may be applied to the provisions of this act, and not inconsistent therewith, shall apply to the notes hereby authorized to be issued. Approved July 11, 1862. CHAP. CXCVI.-AN ACT TO AUTHORIZE PAYMENTS IN STAMPS, AND July 17, 1862. TO PROHIBIT CIRCULATION OF NOTES OF LESS DENOMINATION Vol. XII, p. 592. THAN ONE DOLLAR. other stamps to exchange for notes; Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Postage and Secretary of the Treasury be, and he is hereby directed to be furnished in furnish to the Assistant Treasurers, and such designated United States depositaries of the United States as may be by him selected, in such sums as he may deem expedient, the postage and Post, p. 56, s. 4. other stamps of the United States, to be exchanged by them, and may be reon application, for United States notes; and from and ceived for dues to after the first day of August next such stamps shall be the United States receivable in payment of all dues to the United States less than five dollars, and shall be received in exchange for United States notes when presented to any Assistant Treasurer or any designated depositary selected as aforesaid in sums not less than five dollars. less than $5. Circulation, &c., of notes less ey, prohibited. R. S., 5383, post, p. 129. SEC. 2. And be it further enacted, That from and after the first day of August, eighteen hundred and sixty-two, no than $1, as monprivate corporation, banking association, firm, or individual shall make, issue, circulate, or pay any note, check, memorandum, token, or other obligation, for a less sum than one dollar, intended to circulate as money or to be received or used in lieu of lawful money of the United States; and every person so offending shall, on conviction thereof in Penalty. any district or circuit court of the United States, be punished by fine not exceeding five hundred dollars, or by imprisonment not exceeding six months, or by both, at the option of the court. Approved, July 17, 1862. [No. 9.] JOINT RESOLUTION TO PROVIDE FOR THE IMMEDIATE PAYMENT OF THE ARMY AND NAVY OF THE UNITED STATES. Jan. 17, 1863. Vol. XII, p. 822. p. 55, s. 3. Whereas it is deemed expedient to make immediate pro- 1863, ch. 73, post vision for the payment of the Army and Navy: therefore, 000,000 United Be it resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Issue of $100, the Secretary of the Treasury be, and he is hereby, author. States notes auized, if required by the exigencies of the public service, to thorized. p. 128. terest. not less than one dollar. except for duties R. S., 3571, post, issue on the credit of the United States the sum of one hundred millions of dollars of United States notes, in such Not to bear in- form as he may deem expedient, not bearing interest, payDenominations able to bearer on demand, and of such denominations not 'less than one dollar, as he may prescribe, which notes so Legal tender, issued shall be lawful money and a legal tender, like the on imports and similar notes heretofore authorized in payment of all debts, public debt. public and private, within the United States, except for duties on imports and interest on the public debt; and the notes so issued shall be part of the amount provided for in any bill now pending for the issue of Treasury notes, or that may be passed hereafter by this Congress. interest on the Approved, January 17, 1863. March 3, 1863. Vol. XII, p. 709. Treasury may $300,000,000 for Bonds. in coin. CHAP. LXXIII.-AN ACT TO PROVIDE WAYS AND MEANS FOR THE Be it enacted by the Senate and House of Representatives of Secretary of the the United States of America in Congress assembled, That the borrow not over Secretary of the Treasury be, and he is hereby, authorized and to borrow, from time to time, on the credit of the United States, a sum not exceeding three hundred millions of dollars for the current fiscal year, and six hundred millions for the next fiscal year, and to issue therefor coupon or registered bonds, payable at the pleasure of the governSee post, p. 60. ment after such periods as may be fixed by the Secretary, not less than ten nor more than forty years from date, in Denominations. coin, and of such denominations not less than fifty dollars Interest on, as he may deem expedient, bearing interest at a rate not rate of, payable exceeding six per centum per annum, payable on bonds not exceeding one hundred dollars, annually, and on all other Bonds may be bonds semi-annually, in coin; and he may, in his discretion, dispose of such bonds at any time, upon such terms as he may deem most advisable, for lawful money of the United States, or for any of the certificates of indebtedness or deposit that may at any time be unpaid, or for any of the Treasury notes heretofore issued or which may be issued To be exempt under the provisions of this act. And all the bonds and R. S., 3701, post, Treasury notes or United States notes issued under the provisions of this act shall be exempt from taxation by or Am't ontstand. under State or municipal authority: Provided, That there $900,000,000. shall be outstanding of bonds, Treasury notes, and United disposed of. from taxation. p. 133. ing not to exceed States notes, at any time, issued under the provisions of this act, no greater amount altogether than the sum of nine hundred millions of dollars. |