The President

and by imprisonment and confinement to hard labour, not exceeding ten years, according to the aggravation of the offence.

(Section 18 makes it an offense and punishable to forge Treasury notes or other public securities of the United States, certificates of stock of the United States or certificates of stock of the Bank of the United States.)

CHAP. C.-An act authorizing the Secretary of the Treasury to borrow a sum not exceeding twelve millions of dollars, or to exchange a stock of four and one-half per cent. for a certain stock bearing an interest of six per cent.

Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assemauthorized to Uled, That the President of the United States be, and he borrow am is hereby, authorized to borrow, on or before the first twelve millions day of January next, on the credit of the United States,

not exceeding

of dollars.

a sum not exceeding twelve millions of dollars, at a rate of interest payable quarterly, not exceeding four and onehalf per centum per annum, six millions whereof reimbursable at the pleasure of the Government, at any time after the thirty-first day of December, in the year eighteen hundred and twenty-eight; and six millions at any time after the thirty-first day of December, in the year eighteen hundred and twenty-nine, to be applied, in addition to the moneys which may be in the Treasury at the time of borrowing the same, to pay off and discharge such part of the six per cent. stock of the United States, of the year one thousand eight hundred and thirteen, as may be redeemable after the first day of January next. (Section 2 is identical with section 2 of the act of May 26, 1824, above.

(Sections 3 and 4 provide that a subscription to the amount of twelve million dollars of the six per cent stock of 1813 shall be opened on April 1, 1825, to continue open until October 1 following, all thus subscribed to be considered as part of the twelve million dollars authorized by section 1; and that for so much as shall be thus subscribed, the subscribers shall be entitled to an equal

amount of stock bearing interest not exceeding four and one-half per cent and payable quarterly from December 31, 1825, and redeemable at the pleasure of the United States, one-half after December 31, 1828, and one-half after December 31, 1829: Provided, that no reimbursement shall be made of any new certificate except for its whole amount, nor until after six months' notice.

(Sections 5 and 6 contain the same provisions for the sinking fund, and for saving the rights of nonsubscribing creditors, as those contained in sections 4 and 5 of the act of April 20, 1822.)

Approved, March 3, 1825.

ACT OF APRIL 24, 1830.

396.

CHAP. LXXVIII.-An act to authorize the commissioners 4 Stat. L., of the sinking fund to redeem the public debt of the United States.

Treasury au

certain circum

propriate more

2000, annually,

fund.

Be it enacted by the Senate and House of Representatires of the United States of America, in Congress assembled, That whenever in the opinion of the Secretary of Secretary of the Treasury, the state of the Treasury will admit of the thorized, under application of a greater sum than ten millions of dollars stances, to apin any one year, to the payment of interest and charges, than $10,000,and to the reimbursement or purchase of the principal of to the sinking the public debt, it shall be lawful for him, with the approbation of the President of the United States, to cause such surplus to be placed at the disposal of the commissioners of the sinking fund, and the same shall be applied by them to the reimbursement or purchase of the principal of the public debt, at such times as the state of the Treasury will best admit.

Commissionerssinking fund

apply any sur

fund to the ex

the public debt.

SEC. 2. And be it further enacted, That, whenever, in, any year, there shall be a surplus in the sinking fund authorized to beyond the amount of interest and principal of the debt plus of that which may be actually due and payable by the United tinguishment of States in such year, in conformity with their engagements, it shall be lawful for the commissioners of the sinking fund to apply such surplus to the purchase of any portion of the public debt, at such rates as, in their opinion, may be advantageous to the United States; any thing in any act of Congress to the contrary notwithstanding.

and 5 of act of

ch. 87, re

Sections 4 SEC. 3. And be it further enacted, That the fourth and March 3, 1817, fifth sections of the act, entitled "An act to provide for pealed. the redemption of the public debt," approved on the third of March, one thousand eight hundred and seventeen, are hereby repealed.

thousand dol

Two hundred SEC. 4. And be it further enacted, That the sum of two lars of sums ap- hundred thousand dollars, being the balance of the sums propriated for taking census, heretofore appropriated for the expenses of taking the surplus fund. next census, and which will not be required for that pur

to be passed to

602.

pose, be, and the same is hereby, directed to be passed to the surplus fund upon the last day of the year one thousand eight hundred and thirty, any law to the contrary notwithstanding.

Approved, April 24, 1830.

ACT OF JULY 14, 1832.

4 Stat. L., CHAP. CCXLV.-An act to revive and continue in force "An act authorizing the payment of certain certificates," approved seventh May, one thousand eight hundred and twenty-two.

gress of May

revived and

force for four years.

Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assemAct of Con- bled, That the "Act authorizing the payment of certain 7, 1822, ch. 112, certificates," approved on the seventh May, one thousand continued in eight hundred and twenty-two, be, and the same is hereby, revived and continued in force for the term of four years from and after the passing of this act, and from thence to the end of the next session of Congress thereafter, a notification of which revival and continuance shall be published by the Secretary of the Treasury, for the information of the holders of the certificates, the payment of which is authorized by said act, in one or more of the public papers printed in each of the United States.

Appropria

tion.

SEC. 2. And be it further enacted, That, for carrying this act into effect, the sum of forty thousand dollars be, and hereby is, appropriated, out of any money in the treasury of the United States not otherwise appropriated. Approved, July 14, 1832.

ACT OF APRIL 11, 1836.

CHAP. L.-An act to repeal so much of the act entitled 5 Stat. L., 8. “An act transferring the duties of Commissioner of Loans to the Bank of the United States, and abolishing the office of Commissioner of Loans," as requires the Bank of the United States to perform the duties of Commissioner of Loans for the several States.

(Section 1 repeals the provisions of the act of March 3, 1817, which transfer the duties of commissioner of loans to the United States Bank, its branches, and state banks employed by it, and requires the immediate transfer of all papers and records relating to said duties to the Secretary of the Treasury.)

SEC. 2. And be it further enacted, That the Bank of Banks to pay all money into the United States and its several branches, and the State the Treasury within three Banks employed by the Bank of the United States, per- months. forming the duties of Commissioners of Loans, shall be, and they are hereby required to pay into the Treasury of the United States, within three months after the passing of this act, all the money in their possession for the redemption of the public debt of the United States, and the interest thereon remaining in their hands, which has not been applied for by the person or persons entitled to receive the same.

SEC. 3. And be it further enacted, That it shall be the duty of the Secretary of the Treasury to pay over to the person or persons entitled to receive the same, the amount so received into the Treasury, by virtue of the second section of this act, out of any money in the Treasury not otherwise appropriated.

SEC. 4. And be it further enacted, That nothing contained in this act shall be construed to authorize the appointment of a Commissioner or Commissioners of Loans in any State, District, or Territory of the United States. Approved, April 11, 1836.

NOTE-By the act of April 20, 1836 (5 Stat. L., 16), it is also provided that all acts and parts of acts enabling the Bank of the United States or its branches to pay pensions granted under the authority of the United States are repealed, and that payments of pensions shall be made by such persons and corporations as the Secretary of War may direct.

34.

ACT OF JUNE 7, 1836.

5 Stat. L., CHAP. LXXXVII.-An act to carry into effect a convention between the United States and Spain.

Commissioner to report.

(Section 1 authorizes the appointment of a commissioner to receive and examine all claims growing out of the convention between the United States of America and her Catholic Majesty the Queen of Spain, concluded at Madrid on the 17th day of February, 1834.

(Sections 2 to 6, inclusive, prescribe the duties of the commissioner and the compensation of himself and his secretary. The duties of the Secretary of the Treasury in the matter, who is required to receive and account for at Paris any moneys paid in pursuance of said convention and to remit the same to the United States for deposit in the Treasury of the United States. Said moneys are appropriated to be distributed and paid to those authorized to receive them.)

SEC. 7. And be it further enacted, That the commissioner aforesaid shall report to the Secretary of State a list of all the several awards made by him, a certified copy of which shall be by the said Secretary of State transmitted to the Secretary of the Treasury, who shall thereupon distribute in ratable proportions, among the persons in whose favor the award shall have been made, such moneys as may have been received into the Treasury in virtue of this act, according to the proportions which their respective awards shall bear to the whole amount then received; first deducting such sums of money as may be due the United States from said persons in whose favor said awards shall be made; and shall cause certificates to be issued by the Secretary of the Treasury, in such form as he may prescribe, showing the proportion to which each may be entitled of the amount that may thereafter be received; and on the presentation of the said certificates at the Treasury, as the nett proceeds of the general instalments, payable by the Government of Spain, shall have been received, such proportions thereof shall be paid to the legal holders of the said certificates.

Approved, June 7, 1836.