conflicting with SEC. 28. And be it further enacted, That all acts or Acts, etc., parts of acts which come in conflict with the provisions this, repealed. of this act be, and the same are hereby, repealed. Approved, July 4, 1840. ACT OF FEBRUARY 15, 1841. CHAP. V.-An act to authorize the issuing of treasury 5 Stat. L., notes. 411. [Obsolete.] of not exceed at any one ing, author under the act 1837, chap. 2, the act of 31st ch. 5. 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 is hereby An emission authorized to cause Treasury notes to be issued for such ing $5,000,000 sum or sums as the exigencies of the Government may time outstandrequire; but not exceeding the sum of five millions of ized. dollars of this emission, outstanding at any one time, to be reimbursed in the last quarters of the year, if the condition of the Treasury will permit it, and to be issued under the limitations and other provisions, contained in the act, entitled "An act to authorize the issuing of To be issued Treasury notes," approved the twelfth day of October, of 12th Oct., one thousand eight hundred and thirty-seven, and as as modified by modified by an act, entitled "An act additional to the act March, 1840, on the subject of Treasury notes," approved the thirtyfirst day of March, one thousand eight hundred and forty, except that this law shall expire in one year from This law to and after its passage: Provided, That in case the Treas- year. ury notes outstanding and unredeemed, issued under former laws of Congress, added to the amount of such notes issued under this act, and actually expended or issued to meet payments due and payable before the fourth day of March next, shall, on the fourth day of March next, exceed the sum of five millions of dollars, then the President of United States shall be, and he is hereby, authorized to issue, by virtue of the provisions of this act, such further amount of the said notes as will make the whole amount issued under this act, and applicable to payments falling due after the third day of March next, the full sum of five millions of dollars. Approved, February 15, 1841. expire in one Proviso. ACT OF JULY 21, 1841. L., CHAP. III.—An act authorizing a loan not exceeding the sum of twelve millions of dollars. thorized to bor 000 at 6 per cent. Be it enacted by the Senate and House of Representatives of the United States of America in Congress asPresident au-sembled, That the President of the United States is row $12,000,- hereby authorized, at any time within one year from the passage of this act, to borrow, on the credit of the United States, a sum not exceeding twelve millions of dollars, or so much thereof as in his opinion the exigencies of the Government may require, at a rate of interest, payable quarterly or semi-annually, not exceeding six per centum When reim- per annum, which loan shall be made reimbursable either borrowed, how bursable. at the will of the Secretary of the Treasury, after six months' notice, or at any time after three years from the The money first day of January next; and said money so borrowed to be applied. shall be applied, in addition to the money now in the Treasury, or which may be received therein from other sources, to the payment and redemption of the Treasury notes heretofore authorized, which are or may be outstanding and unpaid, and to defray any of the public expenses which have been heretofore or which may be Stock, how authorized by law, which stock shall be transferable only on the books of the Treasury. transferable. Secretary of Treasury (Sections 2 and 3 authorize the preparation and sale of certificates of the stock, "provided, that no stock be sold below par," and the employment of agents for the negotiation of the same, with a commission not exceeding one-tenth of one per cent on the amount so negotiated.) SEC. 4. And be it further enacted, That the Secretary there of the Treasury is hereby authorized to purchase, at any prior to time of time before the period herein limited for the redemption of stock hereby authorized, such portion thereof as the funds of the Government may admit of, after meeting Appropria- all the demands on the Treasury, and any surplus in the Treasury is hereby appropriated to that object. authorized to purchase stock redemption. tion therefor. United States Faith of SEC. 5. And be it further enacted, That the faith of the pledged for United States be, and is hereby, pledged for the punctual ment of inter- payment of the interest and redemption of said stock. punctual pay est, etc. Approved, July 21, 1841. ACT OF AUGUST 13, 1841. 439. CHAP. VII.-An act to repeal the act entitled "An act to 5 Stat. Be it enacted, * That the act entitled "An act to provide for the collection, safe-keeping, transfer and disbursement of the public revenue," approved on the fourth day of July, A. D., one thousand eight hundred and forty, be, and the same is hereby, repealed: Provided, always, That offenders against section 17 of the repealed act may be prosecuted, and that all liabilities arising upon bonds or otherwise under the said act shall remain unimpaired. (Section 2 makes it felony for any officer entrusted with public moneys, or connected with the Post-Office Department, to convert to his own use, or to use by investment, or to loan any portion of the public moneys entrusted to him, and the neglect to pay over or transfer such moneys on legal requirement is declared to be prima facie evidence of conversion.) L., 23, 1836, ch. thirteenth and tions, repealed. SEC. 3. And be it further enacted, That the act entitled Act of June "An act to regulate the deposites of the public money," 115, excepting approved on the twenty-third day of June, eighteen hun- fourteenth secdred and thirty-six, excepting the thirteenth and fourteenth sections thereof, be and the same hereby is repealed. (Section 4 repeals so much of the act of April 14, 1836, as forbids the offer of bank notes of less denomination than ten dollars, and after March 3, 1837, of less than twenty dollars, in payments by the United States or the Post-Office Department.) Approved, August 13, 1841. ACT OF JANUARY 31, 1842. CHAP. II-An act to authorize an issue of Treasury 5 Stat. J., notes. Be it enacted by the Senate and House of Representatires of the United States of America in Congress assembled, That the President of the United States is hereby 469. [Obsolete.] of not exceed at any one ing An emission authorized to cause Treasury notes to be issued for such ing $5,000,000 sum or sums as the exigencies of the Government may retime outstand-quire, and in place of such of the same as may be redeemed to cause others to be issued, but not exceeding the sum of five millions of dollars of this emission outstandTo be issued ing at any one time, and to be issued under the limitations visions of the and other provisions contained in the act entitled "An act tober,1837,ch.2. to authorize the issuing of Treasury notes," approved the under the pro act of 12th Oc 473. twelfth of October, one thousand eight hundred and thirty-seven, except that the authority hereby given to issue Treasury notes shall expire at the end of one year from the passage of this act. Approved, January 31, 1842. ACT OF APRIL 15, 1842. 5 Stat. L., CHAP. XXVI.-An act for the extension of the loan of eighteen hundred and forty-one, and for an addition of five millions of dollars thereto; and for allowing interest on Treasury notes due. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assemTime for ob- bled, That the time limited by the first section of the act loan extended. of Congress, entitled "An act authorizing a loan not ex21, 1841, ch. 3. ceeding the sum of twelve millions of dollars," approved taining the Act of July bursable, when. July twenty-first, eighteen hundred and forty-one, for obtaining said loan, shall be, and the same is hereby, extended for one year from the passage of this act. Loan reim - SEC. 2. And be it further enacted, That so much of said loan as may be obtained after the passage of this act shall be made reimbursable, as shall be agreed upon and determined at the time of issuing said stock, either at the will of the Secretary of the Treasury, after six months' notice, or at any time not exceeding twenty years from the first day of January next. Form of certificates. Stock, how transferable. Stock to be disposed of, how. SEC. 3. And be it further enacted, That the certificates hereafter to be issued for said loan may, when required, be in such form as shall be prescribed by the Secretary of the Treasury, so that the stock may be transferable by delivery of the certificate, instead of being assignable on the books of the Treasury. SEC. 4. And be it further enacted, That the Secretary of the Treasury be, and he hereby is, authorized to dis pose of the stock hereafter to be issued, or any part thereof, at its par value, but no part thereof shall be disposed of under par until the same has been advertised a reasonable time, and proposals for subscription to said loan invited. And the said Secretary is hereby authorized to accept such proposals, if he deem it for the interest of the United States so to do, as shall offer the highest price for said stock or any part thereof; or to appoint an agent or agents as provided in the third section of the act, approved July twenty-first, eighteen hundred and forty-one, before recited, to negotiate the same: Provided, That no stock shall be disposed of at a lower rate than the highest price offered in said proposals. etc. interest, SEC. 5. And be it further enacted, That the moneys ing from duarising from duties on goods, wares, and merchandise, ties pledged for which may be imported into the United States, or so the much thereof as shall be equal to the payment, from time to time, of the interest, and to the ultimate redemption of the principal of the said stock, be, and the same are hereby, pledged for the payment and redemption of the stock hereafter to be issued under and by virtue of this act and the said act of July twenty-first, eighteen hundred and forty-one, hereby amended; and so much thereof as may be necessary to pay the interest on said stock, and redeem the same when due, is hereby appropriated to that object, to be first applied by the Secretary of the Treasury to such payments and redemption. made to Conof the rowed, etc. SEC. 6. And be it further enacted, That it shall be the Report to be duty of the Secretary of the Treasury to report to Con- gress amount of gress, at the commencement of next session, the amount money borof money borrowed under this act and the act hereby amended, and of whom and upon 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; and a detailed statement of the expense of making such loans. What provi SEC. 7. And be it further enacted, That all the pro- sions of the for visions of the said act, not hereby modified or changed, shall be and remain in force, and apply to this act. mer act shall remain in force. loan author SEC. 8. And be it further enacted, That the President, Additional of the United States is hereby authorized to borrow an additional sum, not exceeding the sum of five millions of dollars, if, in his opinion, the exigencies of the Government may require the same; which additional loan shall |