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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And be it further enacted, That all acts or Acts, etc., parts of acts which come in conflict with the provisions this, repealed. of this act be, and the same are hereby, repealed.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 notes.

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of not exceedat any one ing, author

To be issued under act

1837, chap. 2,

the act of

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 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 thi 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.

one

expire in Proviso.

ACT OF JULY 21, 1841.

438.

5 Stat. 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 at the will of the Secretary of the Treasury, after six months' notice, or at any time after three years from the

bursable.

The money first day of January next; and said money so borrowed

borrowed, how

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

transferable.

on the books of the Treasury.

Secretary of the 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 authorized to of the Treasury is hereby authorized to purchase, at any prior to time of time before the period herein limited for the redemption 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.

purchase stock

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

punctual pay

ment of inter-payment of the interest and redemption of said stock. Approved, July 21, 1841.

est, etc.

ACT OF AUGUST 13, 1841.

439.

CHAP. VII.-An act to repeal the act entitled "An act to 5 provide for the collection, safe-keeping, transfer, and disbursement of the public revenue," and to provide for the punishment of embezzlers of public money, and for other purposes.

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.)

(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.

23, 1836, ch.

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.

tions, repealed.

Stat. L.,

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

ACT OF JANUARY 31, 1842.

CHAP. II.-An act to authorize an issue of Treasury 5 Stat. J.,

469.

notes.

[Obsolete.]

of not exceed

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 re

at any one

ing

deemed to cause others to be issued, but not exceeding the

sum of five millions of dollars of this emission outstand

under the pro

To 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

act of 12th Oc

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ACT OF APRIL 15, 1842.

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.

Loan reimbursable, when.

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 ex

the

Act of July

21, 1841, ch. 3. ceeding the sum of twelve millions of dollars," approved 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.

Form of certificates.

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.

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.

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 Stock how of the Treasury, so that the stock may be transferable by

transferable.

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.

payment of

etc.

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 interest, 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 amount of

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 gress, at the commencement of next session, the amount money bor. of 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

SEC. 7. And be it further enacted, That all the pro- sions of the forvisions of the said act, not hereby modified or changed, remain in force. shall be and remain in force, and apply to this act.

mer act shall

loan

SEC. 8. And be it further enacted, That the President an authorof the United States is hereby authorized to borrow an ized. 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

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