Appropriation for expenses under this act. SEC. 11. And be it further enacted, That, to defray all the expenses that may attend the execution of this act, the sum of two hundred thousand dollars, or so much thereof as may be necessary, be, and the same is hereby, appropriated, to be paid out of any money in the Treasury not otherwise appropriated. Approved July 17, 1861. Aug. 5, 1861. Vol. XII, p. 313. bonds may be is in twenty years able for certain Ante, p. 38. CHAP. XLVI.-AN ACT SUPPLEMENTARY TO AN ACT ENTITLED "AN ACT Be it enacted by the Senate and House of Representatives of Six per cent, the United States of America in Congress assembled, That the sued redeemable Secretary of the Treasury is hereby authorized to issue and exchange- bonds of the United States, bearing interest at six per Treasury notes. centum per annum, and payable at the pleasure of the United States after twenty years from date; and if any holder of Treasury notes, bearing interest at the rate of seven and three-tenths per centum, which may be issued under the authority of the act to authorize a national loan and for other purposes, approved July seventeenth, eighteen hundred and sixty-one, shall desire to exchange the same for said bonds, the Secretary of the Treasury may at any time before or at the maturity of said Treasury notes issue to said holder, in payment thereof, an amount of said bonds equal to the amount which, at the time of such payment or exchange, may be due on said Treasury notes; but Denomination no such bonds shall be issued for a less sum than five hunand amount of bonds. dred dollars, nor shall the whole amount of such bonds exceed the whole amount of Treasury notes bearing seven and three-tenths per centum interest, issued under said Where Treas- act; and any part of the Treasury notes payable on demand, ury notes may be made payable. authorized by said act, may be made payable by the Assist ant Treasurer at St. Louis, or by the depositary at Cincinnati. Treasury notes, how executed. SEC. 2. And be it further enacted, That the Treasury notes issued under the provisions of the said act to authorize a national loan, and for other purposes, or of any other act now in force authorizing the issue of such notes, shall be signed by the Treasurer of the United States, or by some officer of the Treasury Department, designated by the Secretary of the Treasury, for said Treasurer, and countersigned by the Register of the Treasury, or by some officer of the Treasury Department, designated by the Secretary of the Need not have Treasury, for said Register, and no Treasury notes, issued under any act, shall require the seal of the Treasury Depart ment. seal. for not less than Ante, p. 38, s. 1. SEC. 3. And be it further enacted, That so much of the act May be issued to which this is supplementary as limits the denomination $5. of a portion of the Treasury notes authorized by said act at not less than ten dollars, be and is so modified as to authorize the Secretary of the Treasury to fix the denomination of said notes at not less than five dollars. for purposes of SEC. 4. And be it further enacted, That, in addition to the Appropriations amount heretofore appropriated, the sum of one hundred this act, &c. thousand dollars, or so much thereof as may be necessary, be, and the same is hereby, appropriated, out of any money in the Treasury not otherwise appropriated, to pay such expenses, commissions, or compensation as may be necessary, in the judgment of the Secretary of the Treasury, to carry into execution the provisions of this act, and of the act to which this is supplementary. Notes mand, &c., under $50, receivable for public dues. R. S., 3473, post, SEC. 5. And be it further enacted, That the Treasury notes authorized by the act to which this is supplementary, of a less denomination than fifty dollars, payable on demand without interest, and not exceeding in amount the sum of P10 fifty millions of dollars, shall be receivable in payment of public dues. Ante, p. 38, s. 1. treasury act sus SEC. 6. And be it further enacted, That the provisions of Portions of subthe act entitled "An act to provide for the better organiza- pended. tion of the Treasury, and for the collection, safe-keeping, transfer, and disbursements of the public revenue," passed August six, eighteen hundred and forty-six, be and the 1846, ch. 90. same are hereby suspended, so far as to allow the Secretary of the Treasury to deposit any of the moneys obtained on Deposits in solvent specie-payany of the loans now authorized by law, to the credit of ing banks. the Treasurer of the United States, in such solvent speciepaying banks as he may select; and the said moneys, so deposited, may be withdrawn from such deposit for deposit with the regular authorized depositaries, or for the payment of public dues, or paid in redemption of the notes authorized to be issued under this act or the act to which this is supplementary, payable on demand, as may seem expedient to, or be directed by, the Secretary of the Treasury. Six per cent. years may be is bonds due in 20 sued for certain seven per cent. bonds. SEC. 7. And be it further enacted, That the Secretary of the Treasury may sell or negotiate, for any portion of the loan provided for in the act to which this is supplementary, bonds payable not more than twenty years from date, and bearing interest not exceeding six per centum per annum, payable semi-annually, at any rate not less than the equiv. Ante, p. 38, s. 1. alent of par, for the bonds bearing seven per centum interest, authorized by said act. Approved August 5, 1861. Feb. 12, 1862. Vol. XII, p. 338. issue of $10,000,000 CHAP. XX.-AN ACT TO AUTHORIZE AN ADDITIONAL ISSUE OF UNITED Be it enacted by the Senate and House of Representatives of Authorizes the the United States of America in Congress assembled, That the demand notes ad- Secretary of the Treasury, in addition to the fifty millions R. S., 3589, post, of notes payable on demand of denominations not less than ditional. p. 130. Ante, p. 38. five dollars, heretofore authorized by the acts of July seventeenth and August fifth, eighteen hundred and sixty-one, be, and he is hereby, authorized to issue like notes, and for like purposes, to the amount of ten millions of dollars, and To be part of loan said notes shall be deemed part of the loan of two hundred and fifty millions of dollars authorized by said acts. Approved February 12, 1862. of $250,000,000. Feb. 25, 1862. Vol. XII, p. 345. Treasury notes authorized. $5 each. p. 128. be in lieu of de CHAP. XXXIII-AN ACT TO AUTHORIZE THE ISSUE OF UNITED STATES Be it enacted by the Senate and House of Representatives of $150,000,000 the United States of America in Congress assembled, That the Secretary of the Treasury is hereby authorized to issue, on the credit of the United States, one hundred and fifty millPost, p. 52, s. 6. ions of dollars of United States notes, not bearing interest, payable to bearer, at the Treasury of the United States, Not less than and of such denominations as he may deem expedient, not R. S.,3571, post, less than five dollars each: Provided, however, That fifty $50,000,000 to millions of said notes shall be in lieu of the demand Treasmand notes, ury notes authorized to be issued by the act of July seven'teen, eighteen hundred and sixty-one; which said demand notes shall be taken up as rapidly as practicable, and the notes herein provided for substituted for them: And provided further, That the amount of the two kinds of notes together shall at no time exceed the sum of one hundred R. S., 3473, post, and fifty millions of dollars, and such notes herein authorReceivable in ized shall be receivable in payment of all taxes, internal dues to United duties, excises, debts, and demands of every kind due to ties on imports, the United States, except duties on imports, and of all which are to be Post, p. 49. p. 109. payment of all States except du and of claims against the Uni- claims and demands against the United States of every kind ted States except p. 130. Holders thereof may deposit any amount not less interest, and a le- Whatsoever, except for interest upon bonds and notes, which gal tender in all cases of debt. shall be paid in coin, and shall also be lawful money and a R. S.,3588, post, legal tender in payment of all debts public and private, within the United States, except duties on imports and inthan $50 with terest as aforesaid. And any holders of said United States the Treasurer or notes depositing any sum not less than fifty dollars, or certificates some multiple of fifty dollars, with the Treasurer of the vertible into Uni- United States, or either of the Assistant Treasurers, shall Assistant Treas urer, and receive con ted States bonds. ceivable in pay the United R. S., 3579, post, six per cent. 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 semiannually, and redeemable at the pleasure of the United States after five years, and payable twenty years from the date thereof. And such United States notes shall be re- Said notes received the same as coin, at their par value, in payment for ment of loans to any loans that may be hereafter sold or negotiated by the States. Secretary of the Treasury, and may be reissued from time p. 129. to time as the exigencies of the public interest shall require. SEC. 2. And be it further enacted, That, to enable the $500,000,000 of Secretary of the Treasury to fund the Treasury notes and bonds authorized to fund floating floating debt of the United States, he is hereby authorized debt. to issue, on the credit of the United States, coupon bonds, or registered bonds, to an amount not exceeding five hundred millions of dollars, redeemable at the pleasure of the United States after five years, and payable twenty years When payable. from date, and bearing interest at the rate of six per centum per annum, payable semi-annually. And the bonds herein authorized shall be of such denominations, not less than Denomination fifty dollars, as may be determined upon by the Secretary of the Treasury. And the Secretary of the Treasury may dispose of such bonds at any time, at the market value thereof, for the coin of the United States, or for any of the Treasury notes that have been or may hereafter be issued under any former act of Congress, or for United States notes that may be issued under the provisions of this act; and all stocks, bonds, and other securities of the United States held by individuals, corporations, or associations within the United States, shall be exempt from taxation by or Exempt from under State authority. SEC. 3. And be it further enacted, That the United States notes and the coupon or registered bonds authorized by this act shall be in such form as the Secretary of the Treasury may direct, and shall bear the written or engraved signa tures of the Treasurer of the United States and the Register of the Treasury, and also, as evidence of lawful issue, the imprint of a copy of the seal of the Treasury Department, which imprint shall be made under the direction of the Secretary after the said notes or bonds shall be received from the engravers and before they are issued; or the said notes and bonds shall be signed by the Treasurer of the United States, or for the Treasurer by such persons as may not less than $50. May be disposed of for coin or at market val ue. Post, p. 56. taxation. R. S., 3701, post, Form of notes and bonds. How signed, &c. Provisions of be specially appointed by the Secretary of the Treasury for that purpose, and shall be countersigned by the Register of the Treasury, or for the Register by such persons as the Secretary of the Treasury may specially appoint for that act of 1857, ch. 1, purpose; and all the provisions of the act entitled "An vol. 11, revived. act to authorize the issue of Treasury notes," approved the twenty-third day of December, eighteen hundred and fiftyseven, so far as they can be applied to this act, and not inconsistent therewith, are hereby revived and re-enacted; Appropriation and the sum of three hundred thousand dollars is hereby expenses of en- appropriated, out of any money in the Treasury not otherwise appropriated, to enable the Secretary of the Treasury to carry this act into effect. of $300,000 for graving, &c. May be deposited with the SEC. 4. And be it further enacted, That the Secretary of United States the Treasury may receive from any person or persons, or Treasury in sums $100, and certifi per cent. interest 2. 1857, post, p. 77. of not less than any corporation, United States notes on deposit for not cates bearing five less than thirty days, in sums of not less than one hundred issued therefor. dollars, with any of the Assistant Treasurers or designated depositaries of the United States authorized by the SecreSee act of Mar. tary of the Treasury to receive them, who shall issue therefor certificates of deposit made in such form as the Secretary of the Treasury shall prescribe, and said certificates of deposit shall bear interest at the rate of five per centum Deposits may per annum; and any amount of United States notes so deposited may be withdrawn from deposit at any time after ten days' notice on the return of said certificates: Provided, That the interest on all such deposits shall cease and determine at the pleasure of the Secretary of the Aggregate of Treasury: And provided further, That the aggregate of ceed $25,000,000. such deposit shall at no time exceed the amount of twentyfive millions of dollars. be withdrawn. deposits not to ex Duties to be re ceived in coin notes. SEC. 5. And be it further enacted, That all duties on imand demand ported goods shall be paid in coin, or in notes payable on demand heretofore authorized to be issued and by law reR. S., 3473, post, ceivable in payment of public dues, and the coin so paid shall be set apart as a special fund, and shall be applied as follows: p. 109. Coin, how used to pay interest. R. S., 3694, post, p. 131. To create sinking fund. First. To the payment in coin of the interest on the bonds and notes of the United States. Second. To the purchase or payment of one per centum of the entire debt of the United States, to be made within each fiscal year after the first day of July, eighteen huna dred and sixty-two, which is to be set apart as a sinking fund, and the interest of which shall in like manner be R. S., 3689, post, applied to the purchase or payment of the public debt as the Secretary of the Treasury shall from time to time direct p. 130. |