132.

currency bills, by whatever association issued, which have been paid in to the Government for internal revenue, or for loans or stocks.

Approved, June 3, 1864.

ACT OF JUNE 17, 1864.

L, CHAP. CXXVII.-An act to prohibit certain sales of gold and foreign exchange.

*

Be it enacted, That it shall be unlawful to make any contract for the purchase or sale and delivery of any gold coin or bullion to be delivered on any day subsequent to the day of making such contract, or for the payment of any sum, either fixed or contingent, in default of the delivery of any gold coin or bullion, or to make such contract upon any other terms than the actual delivery of such gold coin or bullion, and the payment in full of the agreed price thereof, on the day on which such contract is made, in United States notes or national currency, and not otherwise; or to make any contract for the purchase or sale and delivery of any foreign exchange to be delivered at any time beyond ten days subsequent to the making of such contract; or for the payment of any sum, either fixed or contingent, in default of the delivery of any foreign exchange, or upon any other terms than the actual delivery of such foreign exchange within ten days from the making of such contract, and the immediate payment in full of the agreed price thereof on the day of delivery in United States notes or national currency; or to make any contract whatever for the sale and delivery of any gold coin or bullion of which the person making such contract shall not, at the time of making the same, be in actual possession. And it shall be unlawful to make any loan of money or currency not being in coin to be repaid in coin or bullion, or to make any loan of coin or bullion to be repaid in money or currency other than coin.

SEC. 2. And be it further enacted, That it shall be further unlawful for any banker, broker, or other person, to make any purchase or sale of any gold coin or bullion, or of any foreign exchange, any contract for any such purchase or sale, at any other place than the ordinary place of business of either the seller or purchaser, owned or

hired, and occupied by him individually, or by a partnership of which he is a member.

SEC. 3. And be it further enacted, That all contracts made in violation of this act shall be absolutely void.

SEC. 4. And be it further enacted, That any person who shall violate any provisions of this act shall be held guilty of a misdemeanor, and, on conviction thereof, be fined in any sum not less than one thousand dollars, nor more than ten thousand dollars, or be imprisoned for a period not less than three months, nor longer than one year, or both, at the discretion of the court, and shall likewise be subject to a penalty of one thousand dollars for each offence.

SEC. 5. And be it further enacted, That the penalties imposed by the fourth section of this act may be recovered in an action at law in any court of record of the United States, or any court of competent jurisdiction, which action may be brought in the name of the United States by any person who will sue for said penalty, one half for the use of the United States, and the other half for the use of the person bringing such action. And the recovery and satisfaction of a judgment in any such action shall be a bar to the imposition of any fine for the same offence in any prosecution instituted subsequent to the recovery of such judgment, but shall not be a bar to the infliction of punishment by imprisonment, as provided by said fourth section.

SEC. 6. And be it further enacted, That all acts and parts of acts inconsistent with the provisions of this act are hereby repealed.

Approved, June 17, 1864.

NOTE. The above act was repealed by the act approved July 2, 1864. (See 13 Stat. L., 344.)

ACT OF JUNE 30, 1864.

218.

CHAP. CLXXII.—An act to provide ways and means for 13 Stat. L, the support of the Government, and for other pur

poses.

the Treasury

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, Secretary of is hereby, authorized to borrow, from time to time, on the may borrow credit of the United States, four hundred millions of dol- and issue bonds lars, and to issue therefor coupon or registered bonds of the United States, redeemable at the pleasure of the Gov

$400,000,000,

etc.

able.

tion.

Interest semi

coin.

How bonds

posed of.

All obligations

be

exempt from

taxation.

When redeem- ernment, after any period not less than five, nor more than thirty years, or, if deemed expedient, made payable at any Denomina-period not more than forty years from date. And said bonds shall be of such denominations as the Secretary of annually in the Treasury shall direct, not less than fifty dollars, and bear an annual interest not exceeding six per centum, may be dis-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 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 discretion for Treasury notes, certificates of indebtedness, or certificates of deposit issued under of the United any act of Congress. And all bonds, Treasury notes, and States to other obligations of the United States shall be exempt Revised Stat- from taxation by or under State or municipal authority. SEC. 2. And be it further enacted, That the Secretary issue in lieu of of the Treasury may issue on the credit of the United $200,000,000 States, and in lieu of an equal amount of bonds authorTreasury notes: ized by the preceding section, and as a part of said loan, Denomina- not exceeding two hundred millions of dollars, in Treastions, and when ury notes of any 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 date, and bearing interest not exInterest pay; ceeding the rate of seven and three-tenths per centum payable in lawful money at maturity, or, at the discretion of the Secretary, semi-annually. And the said Treasury notes may be disposed of by the Secretary of How may be the Treasury, on the best terms that can be obtained, for disposed of. lawful money; and such of them as shall be made payHow far to be able, principal and interest, at maturity, shall be a legal Revised Stat- tender to the same extent as United States notes for

utes, 3701.

part of loan

utes, 3473.

payable.

Stat

able in lawful money.

legal tender.

utes, 3590.

utes, 3476.

notes to be con

bonds.

Revised Stat- their face value, excluding interest, and may be paid to any creditor of the United States at their face value, excluding interest, or to any creditor willing to receive Treasury them at par, including interest; and any Treasury notes vertible into issued under the authority of this act may be made convertible, at the discretion of the Secretary of the Treasury, into any bonds issued under the authority of May be sub- this act. And the Secretary of the Treasury may redeem notes of pre- and cause to be cancelled and destroyed any Treasury notes or United States notes heretofore issued under authority of previous acts of Congress, and substitute,

stituted for the

vious issues.

bonds and notes

$400,000,000.

exceed, etc.

in lieu thereof, an equal amount of Treasury notes such as are authorized by this act, or of other United States. notes: Provided, That the total amount of bonds and Amount of Treasury notes authorized by the first and second sec- not to exceed tions of this act shall not exceed four hundred millions of dollars, in addition to the amounts heretofore issued; nor shall the total amount of United States notes, issued Notes not to 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 required for the redemption of temporary loan; nor shall any Treas- Interest-bearury note bearing interest, issued under this act, be a legal legal tender for tender in payment or redemption of any notes issued by tion of circulaany bank, banking association, or banker, calculated or intended to circulate as money.

(Section 3 authorizes the Secretary of the Treasury to exchange bonds heretofore issued on which the interest is payable annually, for others bearing interest payable semiannually. The treasury notes heretofore issued, bearing seven and three-tenths per cent interest, may be exchanged for the six per cent bonds heretofore authorized, at any time within three months after notice of redemption given by the Secretary, after which interest on such notes shall cease; and the interest on such notes after maturity shall be paid in lawful money. So much of the act of March 3, 1864, as limits the loan therein authorized to the current fiscal year, is repealed. The authority to issue bonds or notes, conferred by section 1 of the act of March 3, 1863, is to cease on the passage of this act, except so far as it may affect seventy-five millions of bonds already advertised.)

ing notes not

the redemp

tion of banks.

the Treasury temporary loan.

SEC. 4. And be it further enacted, That the Secretary Secretary of the Treasury may authorize the receipt, as a temporary may receive 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 designated 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, issued therefor. bearing interest not exceeding six per centum annually,

deposit to be

ble, and inter

and payable at any time after the term of deposit, and when payaafter ten days' subsequent notice, unless time and notice est. be waived by the Secretary of the Treasury; and the Secretary of the Treasury may increase the interest on de

to exceed $50,000,000.

posits 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 agAggregate not gregate 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, including the amount already applied in such payment; and the United States notes, so held in Reserve for reserve shall be used only when needed, in his judgment, for the prompt payment of such deposits on demand, and shall be withdrawn and placed again in reserve as the amount of deposits shall again increase.

their payment.

Coupon and registered

what form and how signed.

Seal.

made.

Coupons.

(Section 5 authorizes the Secretary of the Treasury to issue "notes of the fractions of a dollar as now used for currency," and to provide for their redemption when mutilated or defaced, and for their receipt in payment of debts to the United States, except for customs, in sums not over five dollars; but the whole amount of all notes or stamps less than one dollar issued as currency shall not exceed fifty millions of dollars.)

SEC. 6. And be it further enacted, That the coupon and bonds, to be of registered bonds shall be in such form and bear such inscriptions 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 Treasury, and shall bear as evidence of lawful issue, the imprint of the seal of the Treasury Department, to Where to be be made under 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 may approve; and it is Former bonds 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 his official designation had been correctly stated; and all coupons bearing the engraved signature of the Register of the Treasury in office at the time when such signatures

made valid.