thereof. payable thereon to be attached to certificates issued under this act; and any certificate with such coupons of interest Assignment attached may be assigned and transferred by delivery of the same, instead of being transferred on the books of the Treasury. advertised for. When to be bids accepted. opened and what SEC. 3. And be it further enacted, That before awarding Proposals to be 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 proposals for such loan 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 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 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 to Congress, at the com- Report to Conmencement 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: And provided, That no stock shall be disposed of at less than its par value; and the sum of five thousand dollars is hereby appropriated, out of any money in the Treasury not Appropriation for expenses unotherwise appropriated, to pay for engraving and printing der this act. the certificates, and other expenses of executing this act; but no additional compensation shall be allowed to any person receiving a salary by law. gress. Stock not to be disposed of at less than par. United States pledged. 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 interest and the redemption of the principal of said stock. Approved June 22, 1860. CHAP. I.-AN ACT TO AUTHORIZE THE ISSUE OF TREASURY NOTES 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 hereby authorized to cause Treasury notes, for such sum or sums as the exi Dec. 17, 1860. Vol. XII, p. 121. Treasury notes, amount and de how to be issued, nomination. To be redeemed in one year from their date. est, and when in gencies of the public service may require, but not to exceed at any time the amount of ten millions of dollars, and of denominations not less than fifty dollars for any such note, to be prepared, signed, and issued in the manner hereinafter provided. SEC. 2. And be it further enacted, That such Treasury notes shall be paid and redeemed by the United States at the Treasury thereof after the expiration of one year from the date of issue of such notes; from which dates, until they shall be respectively paid and redeemed, they shall Rate of inter- bear such rate of interest as shall be expressed in such terest to cease. notes, which rate of interest shall be six per centum per annum: Provided, That, after the maturity of any of said notes, interest thereon shall cease at the expiration of sixty days' notice of readiness to redeem and pay the same, which may at any time or times be given by the Secretary of the Treasury in one or more newspapers at the seat of governWho to receive ment. The redemption and payment of said notes, herein provided, shall be made to the lawful holders thereof respectively upon presentment at the Treasury, and shall include the principal of each note and the interest which Faith of the shall be due thereon. And for the payment and redemption of such notes at the time and times therein specified, the faith of the United States is hereby solemnly pledged. payment. United pledged. States Notes, how signed. notes to be kept. SEC. 3. And be it further enacted, That such Treasury notes shall be prepared under the direction of the Secretary of the Treasury, and shall be signed in behalf of the United States by the Treasurer thereof, and countersigned Account of by the Register of the Treasury. Each of these officers shall keep in a book, or books, provided for the purpose, separate, full, and accurate accounts, showing the number, date, amount, and rate of interest of each Treasury note signed and countersigned by them respectively; and, also, similar accounts showing all such notes which may be paid, redeemed, and cancelled, as the same may be returned; all which accounts shall be carefully preserved in the Treasury Treasurer to ac- Department. And the Treasurer shall account quarterly for all such Treasury notes as shall have been countersigned by the Register and delivered to the Treasurer for issue. count quarterly. Notes may be issued at par to itors. SEC. 4. And be it further enacted, That the Secretary of pay public cred- the Treasury is hereby authorized, with the approbation of the President, to cause such portion of said Treasury notes as may be deemed expedient, to be issued by the Treasurer in payment of warrants in favor of public creditors, or other persons lawfully entitled to payment, who may choose to receive such notes in payment at par; and the Secretary of the Treasury is hereby authorized, with the approbation of the President, to issue the notes hereby authorized to be issued, at such rate of interest as may be offered by the lowest responsible bidder or bidders who may agree to take the said notes at par after public advertisement of not less than ten days, in such papers as the President may direct, the said advertisement to propose to issue such notes at par to those who may offer to take the same at the lowest rate of interest. But in deciding upon those bids no fraction shall be considered which may be less than onefourth percentum per annum. by indorsement SEC. 5. And be it further enacted, That said Treasury Transfer able notes shall be transferable by assignment indorsed thereon and delivery. by the person to whose order the same may be made payable, accompanied together with the delivery of the note so assigned. ted States. SEC. 6. And be it further enacted, That said Treasury To be received in payment of notes shall be received by the proper officers in payment dues to the Uniof all duties and taxes laid by the authority of the United States, of all public lands sold by said authority, and of all debts to the United States, of any character whatever, which may be due and payable at the time when said Treasury notes may be offered in payment thereof; and upon every such payment credit shall be given for the Amount of amount of principal and interest due on the note, or notes, tained. received in payment, on the day when the same shall have been received by such officer. note, how ascer When taken by collectors,receiv &c. SEC. 7. And be it further enacted, That every collector of the customs, receiver of public moneys, or other officer ers, &c., receipt to be given, acor agent of the United States, who shall receive any Treas- count to be kept, ury note or notes in payment on account of the United States, shall take from the holder of such note, or notes, a receipt on the back of each, stating distinctly the date of such payment, and the amount allowed on such note; and every such officer or agent shall keep regular and specific entries of all Treasury notes received in payment, showing the person from whom received, the number, date, and amount of principal and interest allowed on each and every Treasury note received in payment, which entries shall be delivered to the Treasury with the Treasury note or notes mentioned therein; and, if found correct, such officer or agent shall receive credit for the amount, as provided in the sixth section of this act. Treasury to make SEC. 8. And be it further enacted, That the Secretary of Secretary of the the Treasury be, and he hereby is, authorized to make and regulations, &c. par. issue from time to time such instructions, rules, and regu lations 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. time to exceed $10,000,000. 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: ProvidBut not at any ed, That the aggregate sum outstanding under the authority 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 unappro priated 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, counterfeiting, &c., punished. SEC. 12. And be it further enacted, That if any person the notes, how shall falsely make, forge, or counterfeit, or cause or procure 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. blank notes, with SEC. 13. And be it further enacted, That if any person Engraving plate to print 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. Treasury to pub monthly. SEC. 14. And be it further enacted, That it shall be the Secretary of the duty 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 ter contracted for under act of 1860, plied to redemp 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 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 |