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RELATING TO

LOANS AND THE CURRENCY,

FROM 1841 TO 1873 INCLUSIVE.

WASHINGTON:

GOVERNMENT PRINTING OFFICE.

1874.

LAWS OF THE UNITED STATES

AUTHORIZING ISSUES OF

BONDS AND TREASURY NOTES, &c.

CHAP. III.-AN ACT AUTHORIZING A LOAN NOT EXCEEDING THE SUM OF
TWELVE MILLIONS OF DOLLARS.

July 21, 1841.

Vol. V, p. 438.

to bor

at 6 per cent.

When reimbursable.

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 authorized, at any thPresident autime within one year from the passage of this act, to row $12,000,000 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 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 first day of January next; and said money so borrowed shall be applied, in addition to the The money money now in the Treasury, or which may be received to be applied. 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 authorized by law, which stock shall be transferable Stock, how only on the books of the Treasury.

SEC. 2. And be it further enacted, That the Secretary of the Treasury be, and he is hereby, authorized, with the consent of the President, to cause to be prepared certificates of stock, signed by the Secretary and countersigned by the Register of the Treasury, for the sum to be borrowed, or any part thereof, bearing an interest not exceeding six per centum per annum, and transferable and reimbursable as aforesaid, and to cause the said certificates of stock to be sold: Provided, That no stock be sold below par.

borrowed, how

transferable.

Certificates of

stock to be pre

pared and sold.

Proviso.

Secretary of

the Treasury to

SEC. 3. And be it further enacted, That the Secretary of the Treasury be, and he is hereby, authorized to receive receive propoproposals for taking the said loan, or to employ an agent or, &c.

sals forthe loan,

or agents for the purpose of negotiating the same, and to pay to him or them a reasonable commission, not exceeding one-tenth of one per cent. on the amount so negotiated, which sum to be allowed to such agent or agents, and such expense as may be necessarily incurred in printing and issuing certificates of stock, and other expenses incident to Expenses in cident to this the due execution of this act, in all not exceeding twelve thousand dollars, which sum is hereby appropriated for that purpose, and shall be paid out of any money in the Treasury not otherwise appropriated.

act limited.

Secretary of

authorized to

prior to time of

SEC. 4. And be it further enacted, That the Secretary of the Treasury the Treasury is hereby authorized to purchase, at any time purchase stock before the period herein limited for the redemption of stock redemption. hereby authorized, such portion thereof as the funds of the Appropriation government may admit of, after meeting all the demands on the Treasury, and any surplus in the Treasury is hereby appropriated to that object.

therefor.

Faith of Uni

ted States

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, &c.

Approved July 21, 1841.

April 15, 1842.

Vol. V. p. 473.

extended.

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 TREAS-
URY NOTES DUE.

Be it enacted by the Senate and House of Representatives of Time for ob- the United States of America in Congress assembled, That the taining the loan time limited by the first section of the act of Congress entitled "An act authorizing a loan not exceeding 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.

Act of July 21, 1841, ch. 3.

Loan reim

SEC. 2. And be it further enacted, That so much of said bursable, when. 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.

SEC. 3. And be it further enacted, That the certificates hereafter to be issued for said loan may, when required, be

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