payment of such deposits, United States notes not exceeding fifty millions of dollars, including the amount already applied in such payment; and the United States notes, so held in reserve, shall be used only when needed, in his judgment, for the prompt payment of such deposits on demand, and shall be withdrawn and placed again in reserve as the amount of their payment. deposits shall again increase.

Reserve for

Fractional currency may be issued to an

$50,000,000.

SEC. 5. That the Secretary of the Treasury may issue notes of the fractions of a dollar as now used for currency, in such form, with such inamount not over scriptions, and with such safeguards against counterfeiting, as he may judge best, and provide for the engraving and preparation, and for the issue of the same, as well as of all other notes and bonds, and other obligations, and shall make such regulations for the redemption of said fractional notes and other notes when mutilated or defaced, and for the receipt of said fractional notes in payment of debts to the United States, except for customs, in such sums, not over five dollars, as may appear to him expedient; and it is hereby declared that all laws and parts of laws applicable to the fractional notes engraved and issued as herein authorized, apply equally and with like force to all the fractional notes heretofore authorized, whether known as postage currency, or otherwise, and to postage stamps issued as currency; but the whole amount of all descriptions of notes or stamps less than one dollar issued as currency shall not exceed fifty millions of dollars.

Coupon and registered bonds

to be of what form and how signed.

Seal.

Where to be made.

Coupons.

made valid.

SEC. 6. That the coupon and registered bonds shall be in such form and bear such inscriptions as the Secretary of the Treasury may direct, and shall be signed by the register of the treasury, or for the register, by such person or persons as may be specially designated for that purpose by the Secretary of the Treasury, and shall bear, as evidence of lawful issue, the imprint of the seal of the Treasury Department, to be made under the direction of the Secretary of the Treasury, in a room set apart especially and exclusively for that purpose, under the care of some person appointed directly by him. And the coupons attached to such bonds shall bear the engraved signature of the register of the treasury, and such other device or safeguard against counterfeiting as the Secretary may ap Former bonds prove; and it is hereby declared that all bonds hereto[fo]re issued, bearing the signature of the register, shall have the same force, effect, and validity as if signed also by the treasurer, and all bonds bearing the signature of the register, erroneously described as treasurer of the United States, shall have the same force, effect, and validity as if his official designation had been correctly stated; and all coupons bearing the engraved signature of the register of the treasury in office at the time when such signatures were authorized and engraved, shall have full force, validity, and effect, notwithstanding such register may have subsequently ceased to hold office as such, when issued in connection with bonds duly authorized and signed by or for the successor or Form of treas- successors of said register. And the treasury notes and United States notes authorized by this act shall be in such form as the Secretary of the Treasury shall direct, and shall bear the written or engraved signatures of the treasurer of the United States and the register of the treasury, and shall have printed upon them such statements, showing the amount of accrued or accruing interest and the character of the notes, as the Secretary of the Treasury may prescribe; and shall bear, as a further evidence of lawful issue, the imprint of the seal of the Treasury Department, to be made under the direction of the Secretary of the Treasury, as before directed.

ury notes.

sued for coupon.

Registered SEC. 7. That the Secretary of the Treasury is hereby authorized to bonds may be is- issue, upon such terms and under such regulations as he may from time to time prescribe, registered bonds in exchange for, and in lieu of, any coupon bonds which have been or may hereafter be lawfully issued; such registered bonds to be similar in all respects to the registered bonds issued

under the acts authorizing the issue of the coupon bonds offered for exchange. And for all mutilated, defaced, or indorsed coupon or other Mutilated, debonds presented to the department, the Secretary of the Treasury is au- faced, &c. bonds. thorized to issue, upon terms and under regulations as aforesaid, and in substitution therefor, other bonds of like or equivalent issues.

notes, &c.

SEC. 8. That the Secretary of the Treasury is hereby authorized and Instructions, &c. to public required to make and issue, from time to time, such instructions, rules, officers receiving and regulations, to the several collectors, receivers, depositaries, officers, or preparing and others, who may receive treasury notes, United States notes, or other United States securities in behalf of the United States, or who may be in any way engaged or employed in the preparation and issue of the same, 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. SEC. 9. That the necessary expenses of engraving, printing, preparExpenses of ing, and issuing the United States notes, treasury notes, fractional notes, issuing bonds, preparing and and bonds, hereby authorized, and of disposing of the same to subscribers notes, &c. how and purchasers, shall be paid out of any money in the treasury not other- borne; not to exceed one per wise appropriated; but the whole amount thereof shall not exceed one cent. per centum on the amount of notes and bonds issued.

SEC. 10. That if any person or persons shall falsely make, forge, counterfeit, or alter, or cause or procure to be falsely made, forged, counterfeited, or altered, any obligation or security of the United States, or shall pass, utter, publish, or sell, or attempt to pass, utter, publish, or sell, or shall bring into the United States from any foreign place with intent to pass, utter, publish, or sell, or shall have or keep in possession, or conceal, with intent to utter, publish, or sell, any such false, forged, counterfeited, or altered obligation, or other security, with intent to deceive or defraud, or shall knowingly aid or assist in any of the acts aforesaid, every person so offending shall be deemed guilty of felony, and shall, on conviction thereof, be punished by fine not exceeding five thousand dollars, and by imprisonment and confinement at hard labor not exceeding fifteen years, according to the aggravation of the offence.

Penalty for

counterfeiting or

altering United States securities. For uttering

&c. counterfeits.

For engraving

plates, &c.

For using SEC. 11. That if any person having control, custody, or possession of plates to print any plate or plates from which any obligation or other security, or any notes without part thereof, shall have been printed, or which may have been prepared authority. by direction from the Secretary of the Treasury, for the purpose of printing any such obligation or other security, or any part thereof, shall use such plate or plates, or knowingly suffer the same to be used for the purpose of printing any such or similar obligation, or other security, or any part thereof, except such as shall be printed for the use of the United States, by order of the proper officer thereof; or if any person shall engrave, or cause or procure to be engraved, or shall aid or assist in engraving any plate or plates in the likeness or similitude of any plate or plates designed for the printing of any such obligation or other security, or any part thereof, or shall vend or sell any such plate or plates, or shall bring into the United States from any foreign place any such plate or plates, except under the direction of the Secretary of the Treasury or other proper officer, or with any other intent, or for any other purpose, in either case, than that such plate or plates shall be used for the printing of such notes, bonds, coupons, or other obligations or securities, or some part or parts thereof, for the use of the United States, or shall have in his control, custody, or possession, any metallic plate engraved after the similitude of any plate from which any such obligation or other security, or any part or parts thereof, shall have been printed, with intent to use such plate or plates, or cause or suffer the same to be used in forging or counterfeiting any such obligation or other security, or any part or parts thereof, or shall have in his custody or possession, except under authority from the Secretary of the Treasury, or other proper officer, any obligation or other security, engraved and printed after the similitude of any obligation or

Penalty for printing or photographing notes, &c.

For bringing

into the United States such pho

tographs.

For retaining

out authority.

For using plates, &c. in counterfeiting

notes.

other security issued under the authority of the United States, with intent to sell or otherwise use the same; or if any person shall print, photograph, or in any other manner make or execute, or cause to be printed, photographed, or in any manner made or executed, or shall aid in printing, photographing, making, or executing any engraving, photograph, or other print or impression in the likeness or similitude of any obligation or other security, or any part or parts thereof, or shall vend or sell any such engraving, photograph, print, or other impression, except to the United States, or shall bring into the United States from any foreign place any such engraving, photograph, print, or other impression, except by the direction of some proper officer of the United States, or shall have or retain in his custody or possession, after a distinctive paper shall have been adopted by the Secretary of the Treasury for obligations and other securities of the United States, any similar paper adapted to the making of any such obligation or other security, except under authority of the Secretary of the Treasury, or some other proper officer of the United States, every person so offending shall be deemed guilty of a felony, and shall, on conviction thereof, be punished by fine not exceeding five thousand dollars, or by imprisonment and confinement at hard labor, not exceeding fifteen years, or by both, in the discretion of the court.

SEC. 12. That if any person shall have or retain in his or her custody, plates, &c. with- possession, or control, without the written authority or warrant of the Secretary of the Treasury, or of the comptroller of the currency, approved by the Secretary of the Treasury, any engraved or transferred plate, block, or electrotype, or any die, roll, or other original work used in making or preparing any plate, block, or electrotype, or any plate, block, or electrotype prepared or made after the similitude of any plate, block, or electrotype, from which any obligation or other security authorized to be issued by any act of Congress, or any part thereof, has been, or may hereafter be printed, or shall use, or cause, or knowingly suffer, the same to be used, in forging or counterfeiting any such obligation or other security, or shall print, or cause to be printed, any bronzed or gilt letters or devices, or shall print, or cause to be printed, any letters, figures, or devices with green ink, or any green color or pigment, upon any note, bond, or other representative of value, intended or adapted to be used as a currency or a circulating medium, every such person, being thereof convicted by due course of law, shall be deemed guilty of felony, and shall be imprisoned and kept at hard labor for a term not more than ten years, and fined in a Pending prose- sum not more than ten thousand dollars: Provided, That nothing in this act shall affect any prosecution pending, or any civil or criminal liabilities incurred under any former act: Provided, further, That the foregoing provisions of this section shall not be held or construed to deprive any person of the right to retain in his custody and possession and use for any lawful purpose, any engraved or transferred plate, block, or electrotype, or any die, roll, or other original work as aforesaid, which had been used by him in printing or engraving bank notes or other obligations, before being used in printing any obligation or other security authorized to be issued by any act of Congress; nor shall any of said foregoing provisions be held or construed to prohibit or restrain the lawful use by any person of any ink, color, or pigment, the exclusive right to which has been secured to any such person by letters patent which are still in force.

cutions under former act not affected. Proviso.

Words "obligation or other security, &c." to include what.

SEC. 13. That the words "obligation or other security of the United States," used in this act, shall be held to include and mean all bonds, coupons, national currency, United States notes, treasury notes, fractional notes, checks for money of authorized officers of the United States, certificates of indebtedness, certificates of deposit, stamps, and other representatives of value of whatever denomination, which have been or may be issued under any act of Congress.

No. 40.- JUNE 30, 1864.

CHAP. CLXXIII.

An Act to provide Internal Revenue to support the Government, to
Interest on the Public Debt, and for other Purposes.

pay

Stat. at Large, Vol. XIII. p. 223.

Bank neglect

ing to make divi

six months to

SEC. 121. That any bank legally authorized to issue notes as circulation which shall neglect or omit to make dividends or additions to its sur- dend or addition plus or contingent fund as often as once in six months, shall make a list or to surplus as ofreturn in duplicate, under oath or affirmation of the president or cashier, ten as once in to the assessor or assistant assessor of the district in which it is located, on make return on the first day of January and July in each year, or within thirty days 1st of January thereafter, of the amount of profits which have accrued or been earned and 1st of July. and received by said bank during the six months next preceding said first days of January and July; and shall present one of said lists or returns Duty of 5 per and pay to the collector of the district a duty of five per centum on such cent to be paid profits; and in case of default to make such list or return and payment within the thirty days, as aforesaid, shall be subject to the provisions of the foregoing section of this act: Provided, That when any dividend is made which includes any part of the surplus or contingent fund of any bank, trust company, savings institution, insurance or railroad company, be deducted which has been assessed and the duty paid thereon, the amount of duty so future dividend. paid on that portion of the surplus or contingent fund may be deducted from the duty on such dividend.

No. 41. JANUARY 28, 1865.

to the collector.

Duty paid on surplus or con

tingent fund to

from duty on

CHAP. XXII.- An Act to amend an Act entitled "An Act to provide Ways and Means Stat. at Large, for the Support of the Government, and for other Purposes," approved June thirtieth, eigh- Vol. XIII. p. 425. teen hundred and sixty-four.

Treasury notes of

Be it enacted, &c. That in lieu of any bonds authorized to be issued by the first section of the act entitled "An act to provide ways and means for same character of those authorthe support of the government," approved June thirtieth, eighteen hun- ized by 2d secdred and sixty-four, that may remain unsold at the date of this act, the tion of the act of June 30, 1864, Secretary of the Treasury may issue, under the authority of said act, may be issued. treasury notes of the description and character authorized by the second section of said act: Provided, That the whole amount of bonds authorized Not to exceed as aforesaid, and treasury notes issued and to be issued in lieu thereof, $400,000,000. shall not exceed the sum of four hundred millions of dollars; and such treasury notes may be disposed of for lawful money, or for any other treasury notes or certificates of indebtedness or certificates of deposit issued under any previous act of Congress; and such notes shall be exempt State and mufrom taxation by or under State or municipal authority.

Exempt from

nicipal taxation.

SEC. 2. That any bonds known as five-twenties, issued under the act Unsold 5-20 of twenty-fifth February, eighteen hundred and sixty-two, remaining un- bonds of 1862 not exceeding sold to an amount not exceeding four millions of dollars, may be disposed $400,000,000 of by the Secretary of the Treasury in the United States, or, if he shall may be sold. find it expedient, in Europe, at any time, on such terms as he may deem most advisable: Provided, That this act shall not be so construed as to give any authority for the issue of any legal tender notes, in any form, beyond the balance unissued of the amount authorized by the second section of the act to which this is an amendment.

CHAP. LXXVII.

No. 42. MARCH 3, 1865.

An Act to provide Ways and Means for the support of the
Government.

Stat. at Large, Vol. XIII. p. 468.

Secretary of

Be it enacted, &c. That the Secretary of the Treasury be, and he is hereby, authorized to borrow, from time to time, on the credit of the the Treasury authorized to borUnited States, in addition to the amounts heretofore authorized, any sums row any sums not exceeding in the aggregate six hundred millions of dollars, and to not exceeding $600,000,000.

ury notes may

for.

Interest on bonds payable semi-annually.

Bonds or treas- issue therefor bonds or treasury notes of the United States, in such form be issued there- as he may prescribe; and so much thereof as may be issued in bonds shall be of denominations not less than fifty dollars, and may be made payable at any period not more than forty years from date of issue, or may be made redeemable, at the pleasure of the government, at or after any period not less than five years nor more than forty years from date, or may be made redeemable and payable as aforesaid, as may be expressed upon their face; and so much thereof as may be issued in treasury notes may be made convertible into any bonds authorized by this act, and may be of such denominations not less than fifty dollars - and bear such dates and be made redeemable or payable at such periods as in the opinion of the Secretary of the Treasury may be deemed expedient. And the interest on such bonds shall be payable semi-annually; and on treasury notes authorized by this act the interest may be made payable semi-annually, or annually, or at maturity thereof; and the principal, or interest, or both, may be made payable in coin or in other lawful money: Provided, That the rate of interest on any such bonds or treasury notes, when payable in coin, shall not exceed six per centum per annum; and when not payable in coin shall not exceed seven and three-tenths per centum per annum; and the rate and character of interest shall be expressed on all Treasury notes, such bonds or treasury notes: And provided, further, That the act enor other interest- titled "An act to provide ways and means for the support of the government, and for other purposes," approved June thirtieth, eighteen hundred and sixty-four, shall be so construed as to authorize the issue of bonds of any description authorized by this act. And any treasury notes or other obligations bearing interest, issued under any act of Congress, may, at the discretion of the Secretary of the Treasury, and with the consent of the holder, be converted into any description of bonds authorized by this act; and no bonds so authorized shall be considered a part of the amount of six hundred millions hereinbefore authorized.

bearing obligations, may be converted into

bonds authorized by this act.

Bonds or obligations issued under this act

States or else

lawful money,

&c.

SEC. 2. That the Secretary of the Treasury may dispose of any of the bonds or other obligations issued under this act, either in the United may be disposed States or elsewhere, in such manner, and at such rates, and under such of in the United conditions, as he may think advisable, for coin, or for other lawful money where, for coin, of the United States, or for any treasury notes, certificates of indebtedness, or certificates of deposit, or other representatives of value, which have been or may be issued under any act of Congress; and may, at his discretion, issue bonds or treasury notes authorized by this act, in payment for any requisitions for materials or supplies which shall have been made by the appropriate department or offices upon the treasury of the United States, on receiving notice in writing through the department or office making the requisition, that the owner of the claim for which the requisition is issued desires to subscribe for an amount of loan that will cover said requisition, or any part thereof; and all bonds or other obligations issued under this act shall be exempt from taxation by or under State or municipal authority.

Bonds or obligations issued exempt from

State and mu

nicipal taxation.

Provisions of

act of June 30,

1864, in relation

to forms, inscriptions, &c. applied to bonds

and obligations

under this act.

Proviso against issue of legal tender notes.

SEC. 3. That all the provisions of the act entitled "An act to provide ways and means for the support of the government, and for other purposes," approved June thirtieth, eighteen hundred and sixty-four, in relation to forms, inscriptions, devices, and the printing, attestation, sealing, signing, and counterfeiting thereof, with such others as are applicable, shall apply to the bonds and other obligations issued under this act: Provided, That nothing herein contained shall be construed as authorizing the issue of legal tender notes in any form; and a sum, not exceeding one per centum of the amount of bonds and other obligations issued under this act, is hereby appropriated to pay the expense of preparing and issuing the same, and disposing thereof.