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Treasury notes due and

12, 1837, ch. 2.

be made within the time and according to the provisions of said act, as modified by this.

SEC. 9. And be it further enacted, That all Treasury unpaid, etc., to notes heretofore issued under the act entitled "An act to bear 6 per cent interest. authorize the issuing of Treasury notes," approved the Act of Oct. twelfth day of October, eighteen hundred and thirtyseven, and the acts subsequent thereto, and now outstanding and unredeemed, or which may hereafter be issued under and by virtue of the same, shall, if due and unpaid before the fifth day of March, eighteen hundred and forty-two, bear interest at the rate of six per cent. per annum from that day; and when they may become due hereafter, or may have become due since the said fifth day of March, eighteen hundred and forty-two, shall bear interest from the day of their so becoming due, at the rate of six per cent. per annum, until they shall be respectively redeemed: Provided, That such interest shall cease at the expiration of sixty days' notice, to be given at any time, by the Secretary of the Treasury in one or more of the principal papers published at the seat of Government, of a readiness to redeem the same. And Interest pay the said interest shall be payable semi-annually at the Treasury of the United States, on the first days of January and July in every year. Approved, April 15, 1842.

Proviso.

able semiannually.

581.

ACT OF AUGUST 31, 1842.

5 Stat. L., CHAP. CCLXXXVII.-An act to limit the sale of the public stock to par, and to authorize the issue of Treasury notes, in lieu thereof, to a certain amount.

Time for the issuing of the

limited.

(Section 1 provides that no stock authorized under the act of July 21, 1841, and the amendatory act of April 15, 1842, shall hereafter be sold below par; and the Secretary of the Treasury is authorized to issue Treasury notes in lieu of so much thereof as can not be negotiated at or above par, to an amount not exceeding six millions of dollars.)

SEC. 2. And be it further enacted, That the Treasury Treasury notes notes authorized to be issued by virtue of this act shall not be issued after the time limited by said last mentioned act, being the fifteenth day of April, eighteen hundred and forty-three, for making said loan, and they shall be

under the pro

limitations of of 12th

March, 1840,

issued under the provisions and limitations contained in To be issued the act entitled "An act to authorize the issuing of Treas-visions and ury notes," approved the twelfth day of October, eighteen acts October, 1837, hundred and thirty-seven, and as modified by the act en- ch. 2. and 31st titled "An act additional to the act on the subject of ch. 5. Treasury notes," approved March thirty-first, eighteen hundred and forty: Provided, That the notes authorized Proviso. to be issued by virtue of this act may, when redeemed, be reissued, or new notes issued in lieu of such as may be redeemed within the time above prescribed for issuing the

same, provided that not more than six millions in amount Amount outstanding not to shall be outstanding at any one time under the authority exceed $6,000,

of this act.

000.

the issuing of

stock.

of

SEC. 3. And be it further enacted, That nothing in the Relative to act contained, entitled an act authorizing the loan, above certificates referred to, and an act amendatory of the same, shall be so construed as to authorize the issue of certificates of stock, for debts now due or to become due by the United States, for any other purpose than a bona fide loan to the Government according to the original intention of that law, and that no certificate for any loan shall be issued for a less sum than one hundred dollars.

Approved, August 31, 1842.

ACT OF MARCH 3, 1843.

614.

CHAP. LXXXI.-An act authorizing the reissue of Treas-5 Stat. L., ury notes and for other purposes.

Statute III. [Obsolete.]

31, 1842, ch.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That when any outstanding Treasury notes, issued in pursuance of the act of thirty-first August, one thousand eight hundred and forty-two, entitled "An act to Act of Aug. limit the sale of public stock to par, and to authorize the 287. issue of Treasury notes, in lieu thereof, to a certain amount," or any previous act of Congress, shall, after the passage of this act, be redeemed at any time before the first day of July, one thousand eight hundred and fortyfour, the Secretary of the Treasury, should the wants of the public service require, may cause other notes, to the same amount, to be issued in place of such as may be Reissue of redeemed, under the limitations and other provisions of authorized. the respective acts by which said notes were originally authorized and issued.

Treasury notes

interest on

Payment of SEC. 2. And be it further enacted, That, after maturity Treasury notes. of the Treasury notes issued under the said act of thirty-first August, or of this act, interest may be paid

thereon, in the same manner as on Treasury notes authorized previous to the fifteenth April last, under the ninth 1842, ch. 26. section of the act approved on that day, entitled "An act ' for the extension of the loan of one thousand eight hundred and forty-one, and for an addition of five millions of dollars thereto, and for allowing interest on Treasury notes due."

Issue of stock in lieu of

authorized.

SEC. 3. And be it further enacted, That, in lieu of issuTreasury notes ing the Treasury notes in the manner authorized by the first section of this act, the President, if in his opinion it shall be for the interest of the United States so to do, may cause any of said notes now outstanding, to be redeemed and cancelled as they become due, if the Secretary of the Treasury cannot redeem them out of the funds in the Treasury, by an issue of stock of the United States, for the amount thus redeemed, in the same form, for the same time, and under the same restrictions, limitations, and Act of April provisions, as are contained in an act approved April fifteen, eighteen hundred and forty-two, entitled "An act for the extension of the loan of eighteen hundred and forty-one, and for an addition of five million of dollars thereto, and for allowing interest on Treasury notes due," except that no commissions shall be allowed or paid for the negotiation of such business; and except also that said stock so to be issued, shall be redeemable at a period not longer than ten years from the issue thereof. Approved, March 3, 1843.

15, 1842, ch. 26.

ACT OF JULY 22, 1846.

9 Stat. L., 39. CHAP. LXIV.-An act to authorize an issue of Treasury notes and a loan.

ury notes au

outstanding at

Be it enacted by the Senate and House of Representa

tives of the United States of America in Congress assemIssue of Treas- bled, That the President of the United States is hereby thorized, not authorized to cause Treasury notes to be issued for such exceeding $10,000,000 to be sum or sums as the exigencies of the Government may any one time. require; and, in place of such of the same as may be redeemed, to cause others to be issued; but not exceeding the sum of ten millions of dollars of this emission outunder the lim standing at any one time, and to be issued under the limact of 1837, ch. itations and other provisions contained in the act entitled

To be issued

itations of the

2.

"An act to authorize the issue of Treasury notes," approved the 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.

(Section 2 provides that the President, instead of issuing the whole amount of Treasury notes thus authorized, may borrow by the issue of stock of the United States, in the form and under the provisions prescribed by the act of April 15, 1842: "Provided, That the sum thus borrowed, together with the Treasury notes issued, shall not exceed ten millions of dollars, that the stock created shall be redeemable at a period not longer than ten years from its issue, and that no commission shall be paid for the negotiation of this loan.")

higher rate in

per cent.

SEC. 3. And be it further enacted, That the Treasury Not to bear a notes and the stock issued under the provisions of this act terest than 6 shall not bear a higher rate of interest than six per centum per annum, and no part thereof shall be disposed of at less than par.

tion to be made

officer for pre

SEC. 4. And be it further enacted, That no compensa- No compensation shall be made to any officer, whose salary is fixed by to any salaried law, for preparing, signing, or issuing Treasury notes; paring, signing, nor shall any clerks be employed beyond the number au- said notes, &c. thorized by the act herein referred to.

and issuing

sand dollars

for paying the

tain purloined

SEC. 5. And be it further enacted, That the sum of fifty Fifty thouthousand dollars be, and the same is hereby, appropriated, appropriated out of any money in the Treasury not otherwise appropri- amount of cerated, for the purpose of paying the amount of certain Treasury notes. Treasury notes (which, having been received or redeemed by any authorized officer of the Government, were subsequently purloined or stolen, and put into circulation without evidence on their face of their having been cancelled) to the respective holders, who may have received the same, or any of them, for a full consideration, in the usual course of business, without notice or knowledge of the same having been stolen, or cancelled, or altered, and without any circumstances to cast suspicion on the good faith or due caution with which they may have received the same.

Approved, July 22, 1846.

ACT OF AUGUST 6, 1846.

9 Stat. L., 59. CHAP. XC.-An act to provide for the better organization of the Treasury, and for the collection, safe-keeping, transfer, and disbursement of the public revenue.

Preamble. 1789, ch. 12.

of the United

nated.

Whereas, by the fourth section of the act entitled "An act to establish the Treasury Department," approved September two, seventeen hundred and eighty-nine, it was provided that it should be the duty of the treasurer to receive and keep the moneys of the United States, and to disburse the same upon warrants drawn by the Secretary of the Treasury, countersigned by the comptroller, and recorded by the register, and not otherwise: and whereas it is found necessary to make further provisions to enable the treasurer the better to carry into effect the intent of the said section in relation to the receiving and disbursing the moneys of the United States: Therefore,

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assemThe treasury bled, That the rooms prepared and provided in the new States desig- treasury building at the seat of government for the use of the treasurer of the United States, his assistants, and clerks, and occupied by them, and also the fire-proof vaults and safes erected in said rooms for the keeping of the public moneys in the possession and under the immediate control of said treasurer, and such other apartments as are provided for in this act as places of deposit of the public money, are hereby constituted and declared Moneys paid to be the treasury of the United States. And all moneys

into same, sub

draft of the

ject to the paid into the same shall be subject to the draft of the treasurer. treasurer, drawn agreeably to appropriations made by

law.

(Sections 2, 3, and 4 establish as "places of deposit the mint at Philadelphia and the branch mint at New Orleans, and the vaults and safes thereof; and the treasurers of said mint and branch mint, respectively, are made assistant treasurers under the provisions of this act, and are to have custody of all public moneys deposited. therein, and to perform all the duties required as to the receipt, safe-keeping, transfer, and disbursement of the same. The rooms, safes, and vaults, prepared in the custom-houses of New York and Boston and in the cities of Charleston and St. Louis, for the use of receiversgeneral under the act of July 4, 1840, are declared to be

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