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 March 2, 1861. Vol. XII, p. 199. in California. of Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Payment for suppression 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 March 2, 1861. Vol. XII, p. 221. seeton and Wah 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 pa-ton bands of 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 made in 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. * United States ary 8, 1861, ante, p. 32. For payment to the Choctaw nation or tribe of Indians, $500,000 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 bonds. twenty-second of June, eighteen hundred and fifty-five, the 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. Approved, March 2, 1861. July 17, 1861. Vol. XII, p. Post, p. 42. 259. months not over istered bolds or therefor. Treasury notes, terest, when pay. able. CHAP. V.-AN ACT TO AUTHORIZE A NATIONAL LOAN, AND FOR OTHER 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 Treasury may borrow within 12 to borrow on the credit of the United States, within twelve $250,000 000. months 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 Treasury notes registered bonds, or Treasury notes, in such proportions may be issued 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 interest at the rate of seven and three-tenths per centum Certain Treas- per annum, payable semi-annually. And the Secretary of ury notes may be 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 Post, p. 43. 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, how SEC. 2. And be it further enacted, That the Treasury notes Notes and 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 transfershall 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. opened for subTreasury notes &c. scribe. SEC. 3. And be it further enacted, That the Secretary of Books to be the Treasury shall cause books to be opened for subscrip- scription for 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 per- Proviso. forming 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 subscription. of $50 and up touching the instalment to be paid on any subscription at the time of subscribing, and further payments by instalments or otherwise, and penalties for non-payment of any instalment, and also concerning the receipt, deposit, and safe-keeping of money received from such subscriptions, until the same can be placed in the possession of the official depositaries of the Treasury, any law or laws to the conTreasury notes trary notwithstanding. And the Secretary of the Treasury ward may be ex- is also authorized, if he shall deem it expedient, before opening books of subscription as above provided, to exchange for coin, or pay for public dues or for Treasury notes of the issue of twenty-third of December, eighteen hundred and fifty-seven, and falling due on the thirtieth of June, eighteen hundred and sixty-one, or for Treasury notes issued and taken in exchange for such notes, any amount of said Treasury notes for fifty dollars or upwards not exceeding one hundred millions of dollars. changed for coin, &c. Proposals for loan to be published. SEC. 4. And be it further enacted, That before awarding any portion of the loan in bonds authorized by this act, the Secretary of the Treasury, if he deem it advisable to issue proposals for the same in the United States, shall give not less than fifteen days' public notice in two or more of the public newspapers in the city of Washington, and in such other places of the United States as he may deem advisable, designating the amount of such loan, the place and the time up to which sealed proposals will be received for the same, the periods for the payment, and the amount of each instalment in which it is to be paid, and the penalty for the non-payment of any such instalments, and when and where such proposals shall be opened in the presence of Most favorable such persons as may choose to attend; and the Secretary cepted, but at not of the Treasury is authorized to accept the most favorable proposals offered by responsible bidders: Provided, That no offer shall be accepted at less than par. offers to be ac less than par. Portion of loan may be negotiat country. SEC. 5. And be it further enacted, That the Secretary of ed in foreign the Treasury may, if he deem it advisable, negotiate any portion of said loan, not exceeding one hundred millions of dollars, in any foreign country and payable at any designated place either in the United States or in Europe, and may issue registered or coupon bonds for the amount thus negotiated agreeably to the provisions of this act, bearing interest payable semi-annually, either in the United Proceedings in States or at any designated place in Europe; and he is further authorized to appoint such agent or agents as he may deem necessary for negotiating such loan under his instructions, and for paying the interest on the same, and to fix such case. the compensation of such agent or agents, and shall prescribe to them all the rules, regulations, and modes under which such loans shall be nogotiated, and shall have power to fix the rate of exchange at which the principal shall be received from the contractors for the loan, and the exchange for the payment of the principal and interest in Europe, shall be at the same rate. to December 31, SEC. 6. And be it further enacted, That whenever any Treasury notes under $50 may Treasury notes of a denomination less than fifty dollars, be reissued prior authorized to be issued by this act, shall have been re- 1862. deemed, the Secretary of the Treasury may reissue the same or may cancel them and issue new notes to an equal amount: Provided, That the aggregate amount of bonds Proviso. and Treasury notes issued under the foregoing provisions of this act shall never exceed the full amount authorized by the first section of this act; and the power to issue or reissue such notes shall cease and determine after the thirty-first of December, eighteen hundred and sixty two. SEC. 7. And be it further enacted, That the Secretary of the Treasury is hereby authorized, whenever he shall deem it expedient, to issue in exchange for coin, or in payment for public dues, Treasury notes of any of the denominations hereinbefore specified, bearing interest not exceeding six per centum per annum, and payable at any time not exceeding twelve months from date, provided that the amount of notes so issued, or paid, shall at no time exceed twenty millions of dollars. Treasury notes exchange for may be issued in coin, &c. Treasury to re SEC. 8. And be it further enacted, That the Secretary of Secretary of the the Treasury shall report to Congress, immediately after port to Congress. the commencement of the next session, the amount he has borrowed under the provisions of this act, of whom, and on what terms, with an abstract of all the proposals, designating those that have been accepted and those that have been rejected, and the amount of bonds or Treasury notes that have been issued for the same. United States SEC. 9. And be it further enacted, That the faith of the Faith of the United States is hereby solemnly pledged for the payment pledged. of the interest and redemption of the principal of the loan authorized by this act. ions of act of 1857, SEC. 10. And be it further enacted, That all the provisions, Certain provis of the act entitled "An act to authorize the issue of Treas- ch. 1, revived. ury notes," approved the twenty-third day of December, eighteen hundred and fifty-seven, so far as the same can or may be applied to the provisions of this act, and not inconsistent therewith, are hereby revived or re-enacted. |