p. 44. 1862, ch.33,ante, February twenty-fifth, eighteen hundred and sixty-two, shall not be impaired thereby. Approved, March 17, 1864. April 22, 1864. Vol. XIII, p. 54. weight, &c., of mint. See act Feb. 22, p. 25. 93. to be coined. Ibid. 1 CHAP. LXVI.-AN ACT IN AMENDMENT OF AN ACT ENTITLED "AN Be it enacted by the Senate and House of Representatives of Standard the United States of America in Congress assembled, That, from and after the passage of this act, the standard weight of the cent coined at the mint of the United States shall be 1867, s. 4, ante, forty-eight grains, or one-tenth of one ounce troy; and said cent shall be composed of ninety-five per centum of copper, 1873, s. 16, post, p. and five per centum of tin and zinc, in such proportions as shall be determined by the director of the mint; and there Two-cent pieces shall be, from time to time, struck and coined at the mint a two-cent piece, of the same composition, the standard weight of which shall be ninety-six grains, or one-fifth of one ounce troy, with no greater deviation than four grains Shape, devices, to each piece of said cent and two-cent coins; and the shape, mottoes, and devices of said coins shall be fixed by the director of the mint, with the approval of the Secretary of the Treasury; and the laws now in force relating to the coinage of cents and providing for the purchase of material and prescribing the appropriate duties of the officers of the mint and the Secretary of the Treasury be, and the same are hereby, extended to the coinage herein provided for. &c. Present laws extended thereto. p. 140. SEC. 2. And be it further enacted, That all laws now in force relating to the coins of the United States and the strik ing and coining the same shall, so far as applicable, be exR. S., 5462, post, tended to the coinage herein authorized, whether said laws are penal or otherwise, for the security of the coin, regulating and guarding the process of striking and coining, for preventing debasement or counterfeiting, or for any other purpose. mint to secure Director of SEC. 3. And be it further enacted, That the director of the conformity of al- mint shall prescribe suitable regulations to insure a due loy in such coins. conformity to the required weights and proportions of alloy in the said coins; and shall order trials thereof to be made from time to time by the assayer of the mint, whereof a report shall be made in writing to the director. Such coins to be legal tender SEC. 4. And be it further enacted, That the said coins shall and for what be a legal tender in any payment, the one-cent coin to the Repealed. amount of ten cents, and the two-cent coin to the amount Post, p. 75, 8. 6. sums. of twenty cents; and it shall be lawful to pay out said coins in exchange for the lawful currency of the United States, (except cents or half cents issued under former acts of Congress,) in suitable sums, by the treasurer of the mint, and by such other depositaries as the Secretary of the Treasury may designate, under general regulations proposed by the director of the mint and approved by the Secretary of the Treasury; and the expenses incident to such exchange, distribution, and transmission may be paid out of the profits of said coinage; and the net profits of said coinage, ascertained in like manner as is prescribed in the second section of the act to which this is a supplement, shall be transferred to the treasury of the United States. to be passed as cents, SEC. 5. And be it further enacted, That if any person or Penalty for persons shall make, issue, or pass, or cause to be made, is- making coins insued, or passed, any coin, card, token, or device whatsoever, in metal or its compounds, intended to pass or be passed as money for a one-cent piece or a two-cent piece, such person R. S., 546, post, or persons shall be deemed guilty of a misdemeanor, and shall, on conviction thereof, be punished by a fine not exceeding one thousand dollars, and by imprisonment for a term not exceeding five years. Approved, April 22, 1864. p. 140. CHAP. CLXXII.-AN ACT TO PROVIDE WAYS AND MEANS FOR THE June 30, 1864. Vol. XIII, p. 218. Post, p. 70. Secretary of the Treasury may 000 and issue able. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Treasury be, and he is hereby, authorized borrow $400,000,to borrow, from time to time, on the credit of the United bonds, &c. States, four hundred millions of dollars, and to issue therefor coupon or registered bonds of the United States, redeemable at the pleasure of the government, after any When redeemperiod not less than five, nor more than thirty years, or, if deemed expedient, made payable at any period not more than forty years from date. And said bonds shall be of Denomination. such denominations as the Secretary of the Treasury shall direct, not less than fifty dollars, and bear an annual inter- Interest semiannually in coin. est not exceeding six per centum, payable semi-annually in coin. And the Secretary of the Treasury may dispose of such bonds, or any part thereof, and of any bonds commonly known as five-twenties remaining unsold, in the Ante, p. 61, s. 2. United States, or if he shall find it expedient, in Europe, at any time, on such terms as he may deem most advisable, for lawful money of the United States, or, at his dis How bonds may be disposed of. of the United cretion for Treasury notes, certificates of indebtedness, All obligations or certificates of deposit issued under any act of Congress. States to be ex- And all bonds, Treasury notes, and other obligations of the United States shall be exempt from taxation by or under R. S., 3701, post, State or municipal authority. empt from taxation. p. 331. Secretary may issue in lieu of $200,000,000 p. 109. and when payable. able in lawful money. p. 130. p. 110. to be convertible into bonds. SEC. 2. And be it further enacted, That the Secretary of part of loan the Treasury may issue on the credit of the United States, Treasury notes. and in lieu of an equal amount of bonds authorized by the R. S., 3473, post, preceding section, and as a part of said loan, not exceeding two hundred millions of dollars, in Treasury notes of any Denominations, denomination not less than ten dollars, payable at any time not exceeding three years from date, or, if thought more expedient, redeemable at any time after three years from Interest pay date, and bearing interest not exceeding the rate of seven and three-tenths per centum payable in lawful money at maturity, or, at the discretion of the Secretary, semiHow may be annually. And the said Treasury notes may be disposed disposed of. of by the Secretary of the Treasury, on the best terms that How far to be can be obtained, for lawful money; and such of them as legal tender. R. S., 3590, post, shall be made payable, principal and interest, at maturity, shall be a legal tender to the same extent as United States notes for their face value, excluding interest, and may be R.S., 3476, post, paid to any creditor of the United States at their face value, excluding interest, or to any creditor willing to Treasury notes receive them at par, including interest; and any Treasury notes issued under the authority of this act may be make convertible, at the discretion of the Secretary of the Treasury, into any bonds issued under the authority of this act. May be sub- And the Secretary of the Treasury may redeem and cause notes of previous to be cancelled and destroyed any Treasury notes or United States notes heretofore issued under authority of previous acts of Congress, and substitute, in lieu thereof, an equal amount of Treasury notes such as are authorized by this Amount of act, or of other United States notes: Provided, That the not to exceed total amount of bonds and Treasury notes authorized by the first and second sections of this act shall not exceed four hundred millions of dollars, in addition to the amounts Notes not to ex- heretofore issued; nor shall the total amount of United States notes, issued or to be issued, ever exceed four hundred millions of dollars, and such additional sum, not exceeding fifty millions of dollars, as may be temporarily Interest-bear- required for the redemption of temporary loan; nor shall ing notes not legal tender for the any Treasury note bearing interest, issued under this act, culationof banks. be a legal tender in payment or redemption of any notes issued by any bank, banking association, or banker, calculated or intended to circulate as money. stituted for the issues. bonds and notes $400,000,000. ceed, &c. redemption of cir heretofore issued annually. issued in ex and three-tenths SEC. 3. And be it further enacted, That the interest on all Interest of bonds bonds heretofore issued, payable annually, may be paid may be paid semisemi-annually; and in lieu of such bonds authorized to be issued, the Secretary of the Treasury may issue bonds bearing interest, payable semi-annually. And he may also. Bonds may be issue in exchange for Treasury notes heretofore issued change for seven bearing seven and three-tenths per centum interest, besides notes. the six per centum bonds heretofore authorized, like bonds of all the denominations in which such Treasury notes have been issued; and the interest on such Treasury notes after maturity shall be paid in lawful money, and they may be exchanged for such bonds at any time within three months from the date of notice of redemption by the Secretary of the Treasury, after which the interest on such Treasury notes shall cease. And so much of the law ap- Repeal of part proved March third, eighteen hundred and sixty-four, as limits the loan authorized therein to the current fiscal year, Ante, p. 60. is hereby repealed; and the authority of the Secretary of the Treasury to borrow money and issue therefor bonds or notes, conferred by the first section of the act of March and of 1863, ch. third, eighteen hundred and sixty-three, entitled "An act to provide ways and means for the support of the government," shall cease on and after the passage of this act, except so far as it may effect seventy-five millions of bonds already advertised. of act March 3, 1964. 3. Ante, p. 54. Treasury may re loan. deposit to be is SEC. 4. And be it further enacted, That the Secretary of Secretary of the the Treasury may authorize the receipt, as a temporary ceive temporary loan, of United States notes or the notes of national banking associations on deposit for not less than thirty days, in sums of not less than fifty dollars, by any of the Assistant Treasurers of the United States, or depositories desig. nated for that purpose other than national banking associations, who shall issue certificates of deposit in such Certificates of form as the Secretary of the Treasury shall prescribe, sued therefor bearing interest not exceeding six per centum annually, and payable at any time after the term of deposit, and When payable, after ten days' subsequent notice, unless time and notice be waived by the Secretary of the Treasury; and the Secretary of the Treasury may increase the interest on depos. its at less than six per centum to that rate, or, on ten days notice to depositors, may diminish the rate of interest as the public interest may require; but the aggregate of such deposits shall not exceed one hundred and fifty millions of dollars; and the Secretary of the Treasury may issue, and shall hold in reserve for payment of such deposits, United States notes not exceeding fifty millions of dollars, includ and interest. Aggregate not to exceed $50,000, 000. ing 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 Reserve for placed again in reserve as the amount of deposits shall again increase. their payment. rency may be amount not over $50,000,000. R. S., 3572, 3574, Fractional cur- SEC. 5. And be it further enacted, That the Secretary of issued to an the Treasury may issue notes of the fractions of a dollar as now used for currency, in such form, with such inscrip3575, post, p. 128 tions, 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. Seal. made. Coupon and reg- SEC. 6. And be it further enacted, That the coupon and istered bonds, to be of what form registered bonds shall be in such form and bear such inand how signed. scriptions 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 Treas ury, and shall bear as evidence of lawful issue, the imprint of the seal of the Treasury Department, to be made under Where to be 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 Former bonds may approve; 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 Coupons. made valid. |