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and revenue stamps issued as currency, shall not exceed fifty millions of dollars.

certificates there

109.

SEC. 5. And be it further enacted, That the Secretary of Secretary may receive gold on the Treasury is hereby authorized to receive deposits of deposit and issue gold coin and bullion with the Treasurer or any Assistant for. Treasurer of the United States, in sums not less than R. S., 254, post, twenty dollars, and to issue certificates therefor, in denominations of not less than twenty dollars each, corresponding with the denominations of the United States notes. The coin and bullion deposited for or representing the certifi cates of deposit shall be retained in the Treasury for the payment of the same on demand. And certificates representing coin in the Treasury may be issued in payment of interest on the public debt, which certificates, together with those issued for coin and bullion deposited, shall not at any time exceed twenty per centum beyond the amount of coin and bullion in the Treasury; and the certificates for coin or bullion in the Treasury shall be received at par in payment for duties on imports.

Such certificates may be is

sued to pay interest on the public

debt and duties. Limit of am't.

R. S., 3473, post,

p. 109.

Secretary to de

termine form of

bonds and notes.

print of seal.

SEC. 6. And be it further enacted, That the coupon or registered bonds, Treasury notes, and United States notes authorized by this act shall be in such form as the Secretary of the Treasury may direct, and shall have printed What to be printed thereon. upon them such statements, showing the amount of accrued or accruing interest, the character of the notes, and the penalties or punishment for altering or counterfeiting them, as the Secretary of the Treasury may prescribe, and shall bear the written or engraved signatures of the Treasurer How signed. of the United States and the Register of the Treasury, and also as evidence of lawful issue, the imprint of a copy of To have im. 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 Signature. for the Treasurer by such persons as may 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 purpose. And all Provisions of the provisions of the act entitled "An act to authorize the vived. issue of Treasury notes," approved the twenty-third day of December, eighteen hundred and fifty-seven, so far as they can be applied to this act, and not inconsistent therewith, are hereby revived and re-enacted.

act 1857, ch. 1, re

circulation, &c.,

branches.

Duty on bank SEC. 7. And be it further enacted, That all banks, assoafter April1,1863. ciations, corporations, or individuals, issuing notes or bills for circulation as currency, shall be subject to and pay a duty of one per centum each half year from and after April first, eighteen hundred and sixty-three, upon the average amount of circulation of notes or bills as currency issued beyond the amount hereinafter named, that is to say: banks, associations, corporations, or individuals, having a capital of not over one hundred thousand dollars, ninety per centum thereof; over one hundred thousand and not over two hundred thousand dollars, eighty per centum thereof; over two hundred thousand and not over three hundred thousand dollars, seventy per centum thereof; over three hundred thousand and not over five hundred thousand dollars, sixty per centum thereof; over five hundred thousand and not over one million of dollars, fifty per centum thereof; over one million and not over one million and a half of dollars, forty per centum thereof; over one million and a half, and not over two millions of dollars, thirty per centum thereof; over two millions of dollars, twenty-five per centum thereof. In the case of banks with Banks with branches, the duty herein provided for shall be imposed upon the circulation of the notes or bills of such branches severally, and not upon the aggregate circulation of all; and the amount of capital of each branch shall be considered to be the amount allotted to or used by such branch; and all such banks, associations, corporations, and individuals shall also be subject to and pay a duty of one half of one per centum each half year from and after April first, eighteen hundred and sixty-three, upon the average amount of notes or bills not otherwise herein taxed and outstanding as currency during the six months next preceding the return hereinafter provided for; and the rates of tax or duty imposed on the circulation of associations which may be organized under the act "to provide a national currency, secured by a pledge of United States stocks, and to provide for the circulation and redemption thereof," approved February twenty-fifth, eighteen hundred and sixty-three, shall be the same as that Circulation hereby imposed on the circulation and deposits of all banks, associations, corporations, or individuals, but shall be assessed and collected as required by said act; all banks, associations, or corporations, and individuals issuing or reissuing notes or bills for circulation as currency after April first, eighteen hundred and sixty-three, in sums representing any fractional part of a dollar, shall be

of fractional notes.

Duty on depos

amount of circu

sued.

subject to and pay a duty of five per centum each half year thereafter upon the amount of such fractional notes or bills so issued. And all banks, associations, corporations, and individuals receiving deposits of money subject to payment on check or draft, except savings institutions, shall be subject to a duty of one-eighth of one per centum each half year from and after April first, eighteen hun-its upon average dred and sixty-three, upon the average amount of such lating notes isdeposits beyond the average amount of their circulating notes or bills lawfully issued and outstanding as currency. And a list or return shall be made and rendered within thirty days after the first day of October, eighteen hundred and sixty-three, and each six months thereafter, to the Commissioner of Internal Revenue, which shall contain a true and faithful account of the amount of duties accrued or which should accrue, on the full amount of the fractional note circulation and on the average amount of all other circulation and of all such deposits, for the six months next preceding. And there shall be annexed to every such list or return a declaration, under oath or affirmation, to be made in form and manner as shall be prescribed by the Commissioner of Internal Revenue, of the president, or some other proper officer of said bank, association, corporation, or individual, respectively, that the same contains a true and faithful account of the duties which have accrued, or which should accrue, and not accounted for; and for any default in the delivery of such list or return, with such declaration annexed, the bank, association, corporation, or individual making such default, shall forfeit, as a penalty, the sum of five hundred dollars. And such bank, association, corporation or individual shall, upon rendering the list or return as aforesaid, pay to paid when return the Commissioner of Internal Revenue the amount of the duties due on such list or return, and in default thereof shall forfeit, as a penalty, the sum of five hundred dollars; and in case of neglect or refusal to make such list or return as aforesaid, or to pay the duties as aforesaid, for the space of thirty days after the time when said list should have been made or rendered, or when said duties shall have become due and payable, the assessment and collection shall be made according to the general provisions prescribed in an act entitled "An act to provide internal revenue to support the government and to pay interest on the public debt," approved July one, eighteen hundred and sixty-two.

Duties to be

rendered.

Penalties of former act

6,7.

SEC. 8. And be it further enacted, That, in order to preagainst counter-vent and punish counterfeiting and fraudulent alterations feiting, &c., made applicable. of the bonds, notes, and fractional currency authorized to 1862, ch. 33, 88. be issued by this act, all the provisions of the sixth and seventh sections of the act entitled "An act to authorize Ante, pp. 47, 48. the issue of United States notes, and for the redemption or funding thereof, and for funding the floating debt of the United States," approved February twenty-fifth, eighteen hundred and sixty-two, shall, so far as applicable, apply to the bonds, notes, and fractional currency hereby authorized to be issued, in like manner as if the said sixth and seventh sections were hereby adopted as additional sections of this act. And the provisions and penalties of said sixth and seventh sections shall extend and apply to all persons who shall imitate, counterfeit, make or sell any paper such as that used, or provided to be used, for the fractional notes prepared, or to be prepared, in the Treasury Department building, and to all officials of the Treasury Department engaged in engraving and preparing the bonds, notes, and fractional currency hereby authorized to be issued, and to all official and unofficial persons in any manner employed Appropriation under the provisions of this act. And the sum of six hunfor expenses of this act. dred thousand dollars is hereby appropriated, out of any money in the Treasury not otherwise appropriated, to enable the Secretary of the Treasury to carry this act into effect. Approved March 3, 1863.

March 3, 1864.

Vol. XIII, p. 13.

Ante, p. 54.

Treasury may

"AN

CHAP. XVII.-AN ACT SUPPLEMENTARY TO AN ACT ENTITLED
ACT TO PROVIDE WAYS AND MEANS FOR THE SUPPORT OF THE
GOVERNMENT," APPROVED MARCH THIRD, EIGHTEEN HUNDRED

AND SIXTY-THREE.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That in lieu of so much of the loan authorized by the act of March third, eighteen hundred and sixty-three, to which this is Secretary of the supplementary, the Secretary of the Treasury is authorized borrow not over to borrow, from time to time, on the credit of the United $200,000,000 and issue therefor States, not exceeding two hundred millions of dollars five-forty bonds. during the current fiscal year, and to prepare and issue therefor coupon or registered bonds of the United States, See s. 3, post, bearing date March first, eighteen hundred and sixty-four, or any subsequent period, redeemable at the pleasure of the government after any period not less than five years, and payable at any period not more than forty years from date, Denominations. in coin, and of such denominations as may be found expe

p. 65.

not

Interest payable in coin.

over 6 per cent.,

of.

dient, not less than fifty dollars, bearing interest not exceed ing six per centum a year, payable on bonds not over one hundred dollars, annually, and on all other bonds semi-annually, in coin; and he may dispose of such bonds at any How disposed time, on such terms as he may deem most advisable, for lawful money of the United States, or, at his discretion, for Treasury notes, certificates of indebtedness, or certificates of deposit, issued under any act of Congress; and all bonds Exempt from issued under this act shall be exempt from taxation by or under State or municipal authority. And the Secretary of the Treasury shall pay the necessary expenses of the prepa- to ration, issue, and disposal of such bonds out of any money cent. in the Treasury not otherwise appropriated, but the amount so paid shall not exceed one-half of one per centum of the amount of the bonds so issued and disposed of.

taxation.
R. S., 3701, post,
p. 133.
for expenses, not
exceed one-
half of one per

Appropriation

bonds may be is

subscribers.

SEC. 2. And be it further enacted, That the Secretary of Five - twenty the Treasury is hereby authorized to issue to persons who sued to certain subscribed on or before the twenty-first day of January, eighteen hundred and sixty-four, for bonds redeemable after five years and payable twenty years from date, and have Post, p. 63. paid into the Treasury the amount of their subscriptions, the bonds by them respectively subscribed for, not exceeding eleven millions of dollars, notwithstanding that such subscriptions may be in excess of five hundred millions of dollars; and the bonds so issued shall have the same force and 1862, ch. 33, ante, effect as if issued under the provisions of the act to "authorize the issue of United States notes and for other purposes," approved February twenty-sixth [fifth], eighteen hundred and sixty-two.

Approved March 3, 1864.

p. 44.

[No. 20.] JOINT RESOLUTION TO AUTHORIZE THE SECRETARY OF THE TREASURY TO ANTICIPATE THE PAYMENT OF THE INTEREST ON THE PUBLIC DEBT, AND FOR OTHER PURPOSES.

March 17, 1864.

Vol. XIII, p. 404.

Secretary of the Treasury may

terest on the pub.

lic debt.

R. S., 3699, post,

p. 132

Be it resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Treasury be authorized to anticipate the anticipate the inpayment of interest on the public debt, by a period not exceeding one year, from time to time, either with or without a rebate of interest upon the coupons, as to him may seem expedient; and he is hereby authorized to dispose of any gold in the Treasury of the United States not necessary for the payment of interest of the public debt: Provided, That the Proviso. obligation to create the sinking fund according to the act of

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