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PART V.

STATUTES RELATING

TO THE

CURRENCY AND TO BANKING.

Stat. at Large, Vol. I. p. 627. Estimation of

currencies.

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CHAP. XXII. - An Act to regulate the Collection of Duties on Imports and Tonnage. SEC. 61. * * * * All foreign coins and currencies shall be estimated foreign coins and at the following rates: [each pound sterling of Great Britain, at four dollars and forty-four cents ;]* each livre tournois of France, at eighteen and a half cents; each florin or guilder of the United Netherlands, at forty cents; [each mark banco of Hamburg, at thirty-three and one third cents ;]† each rix dollar of Denmark, at one hundred cents; each rial of plate and each rial of vellon of Spain, the former at ten cents, the latter at five cents each; [each milree of Portugal, at one dollar and twenty-four cents;]† each pound sterling of Ireland, at four dollars and ten cents; each tale of China, at one dollar and forty-eight cents; each pagoda § of India, at one dollar and ninety-four cents; each rupee || of Bengal, at fifty-five cents and one half; and all other denominations of money, in value as nearly as may be to the said rates, or the intrinsic value thereof, compared with money of the United States. Provided, that it shall be lawful for the President Powers of the of the United States, to cause to be established fit and proper regulations for estimating the duties on goods, wares, and merchandise imported into the United States, in respect to which the original cost shall be exhibited in a depreciated currency, issued and circulated under authority of any foreign government.

Proviso.

President.

Stat. at Large, CHAP. LXXI. Vol. IV. p. 681.

Repealed.

See 1857, ch. 56, § 3.

-

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·An Act regulating the Value of certain Foreign Silver Coins within the United States.

[Be it enacted, &c. That from and after the passage of this act, the following silver coins shall be of the legal value, and shall pass current as money within the United States, by tale, for the payment of all debts and demands, at the rate of one hundred cents the dollar, that is to say, the dollar of Mexico, Peru, Chili, and Central America, of not less weight than four hundred and fifteen grains each, and those re-stamped in Brazil of the like weight, of not less fineness than ten ounces fifteen pennyweights of pure silver, in the troy pound of twelve ounces of standard silver; and the five-franc pieces of France, when of not less fineness than ten ounces and sixteen pennyweights in twelve ounces troy weight of standard silver, and weighing not less than three hundred and eighty-four grains each at the rate of ninety-three cents each.

See act of June 28, 1834, ch. 96, § 1. Also act of July 27, 1842, ch. 66, § 1, and act of March 3, 1843, ch. 69, § 1.

† See act of March 3, 1843, ch. 92, § 1.

See act of May 22, 1846, ch. 23, § 1.

See act of March 3, 1801, ch. 28, § 1.

See acts of March 3, 1801, ch. 28, § 1, and March 3, 1843, ch. 92, § 1.

SEC. 2. That it shall be the duty of the Secretary of the Treasury to cause assays of the aforesaid silver coins, made current by this act, to be had at the mint of the United States, at least once in every year, and to make report of the result thereof to Congress.]

No. 3.-JUNE 28, 1834.

CHAP. XCVI.— An Act regulating the Value of certain Foreign Gold Coins within the
United States.

Stat. at Large,
Vol. IV. p. 700.

Repealed.
See 1857, ch.

[Be it enacted, &c. That from and after the thirty-first day of July next, the following gold coins shall pass current as money within the United States, and be receivable in all payments, by weight, for the payment of all debts and de- 56, § 8. mands, at the rates following: that is to say, the gold coins of Great Britain, Portugal, and Brazil, of not less than twenty-two carats fine, at the rate of ninety-four cents and eight tenths of a cent per pennyweight; the gold coins of France, nine tenths fine, at the rate of ninety-three cents and one tenth of a cent per pennyweight; and the gold coins of Spain, Mexico, and Columbia, of the fineness of twenty carats, three grains and seven sixteenths of a grain, at the rate of eighty-nine cents and nine tenths of a cent per pennyweight.

SEC. 2. That it shall be the duty of the Secretary of the Treasury to cause assays of the aforesaid gold coins, made current by this act, to be had at the mint of the United States, at least once in every year, and to make report of the result thereof to Congress.]

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Stat. at Large, Vol. V. p. 201. Treasury notes

Be it enacted, &c. That the President of the United States is hereby authorized to cause treasury notes for such sum or sums as the exigencies authorized. of the government may require, but not exceeding, in the whole amount of notes issued, the sum of ten millions of dollars, and of denominations not less than fifty dollars for any one note, to be prepared, signed, and issued in the manner hereinafter provided.

Interest.

SEC. 2. That the said treasury notes, authorized to be issued by the Reimbursement. first section of this act, shall be reimbursed and redeemed by the United States, at the treasury thereof, after the expiration of one year from the dates of the said notes respectively; from which said dates, for the term of one year, and no longer, they shall bear such interest as shall be expressed upon the face of the said notes; which rate of interest upon each several issue of the said notes shall be fixed by the Secretary of the Treasury, by and with the advice and approbation of the President; but shall in no case exceed the rate of interest of six per centum per annum. The reimbursement herein provided for shall be made at the treasury of the United States to the holders of the said notes respectively, upon presentment, and shall include the principal of each note, and the interest which may be due thereon at the time of payment. For this reimbursement, at the time and times herein specified, the faith of the United States is hereby solemnly pledged.

SEC. 3. That the said treasury notes shall be prepared under the direction of the Secretary of the Treasury, and shall be signed, on behalf of the United States, by the treasurer thereof, and countersigned by the register of the treasury; and that those officers respectively shall, as checks upon each other, and to secure the public safety, keep separate, full, and accurate accounts of the number, date, denomination, and amount of all the notes signed and countersigned by them respectively; which said accounts shall be carefully preserved and placed on file in the treasury department; and, also, similar accounts, kept and preserved in the same manner of all the said notes redeemed, as the same shall be returned and cancelled; and the treasurer shall further account quarterly for all such notes delivered to him for signature or issue by the register. The Treas

Faith of United States pledged.

By whom notes signed.

Accounts and checks to be kept.

Temporary clerks may be appointed.

Notes to be is

of United States

urer and register of the treasury are hereby authorized, by and with the consent and approbation of the Secretary of the Treasury, to employ such additional temporary clerks as the duties enjoined upon them by this section may render necessary: Provided, Said number shall not exceed four, and with a salary of not more than at the rate of twelve hundred dollars to each per annum.

SEC. 4. That the Secretary of the Treasury is hereby authorized, with sued in payment the approbation of the President of the United States, to cause to be isdebts to those sued such portion of the said treasury notes as the President may think willing to receive expedient, in payment of debts due by the United States to such public

them.

Loans on credit of such notes.

Transfers.

Notes to be re

&c.

creditors or other persons as may choose to receive such notes in payment, as aforesaid, at par. And the Secretary of the Treasury is further authorized, with the approbation of the President of the United States, to borrow, from time to time, not under par, such sums as the President may think expedient, on the credit of such notes.

SEC. 5. That the said treasury notes shall be transferable by delivery and assignment indorsed thereon, by the person to whose order the same shall, on the face thereof, have been made payable.

SEC. 6. That the said treasury notes shall be received in payment of ceived for taxes, all duties and taxes laid by the authority of the United States, of all public lands sold by the said authority, and of all debts to the United States, of any character whatsoever, which may be due and payable at the time when said treasury notes may be so offered in payment. And on every Principal and such payment, credit shall be given for the amount of the principal and interest credited. interest which, on the day of such payment, may be due on the note or notes thus given in payment.

Duplicate certificates to be entered for pay

States.

SEC. 7. That any person making payment to the United States in such treasury notes, into the hands of any collector, receiver of public ments to United money, or other public officer or agent, shall, on books, kept according to such forms as shall be prescribed by the Secretary of the Treasury, give duplicate certificates of the number and respective amount of principal and interest of each and every treasury note thus paid by such person; and every collector, receiver of public moneys, or other public officer or agent, who shall thus receive any of the said treasury notes in payment, shall, on payment of the same, receive credit both for principal and interest computed as aforesaid, which on the day of such last-mentioned payment shall appear due on the note or notes thus paid in, and he shall be charged for the interest accrued on such note or notes from the day on which the same shall have been received by him in payment as aforesaid, to the day on which the same shall be paid by him as aforesaid.

Secretary of treasury to pay principal and interest when due, and to purchase

notes at par.

Penalty for forging, &c.

SEC. 8. That the Secretary of the Treasury be, and he is hereby, authorized and directed to cause to be reimbursed and paid, the principal and interest of the treasury notes which may be issued by virtue of this act, at the several time and times when the same, according to the provisions of this act, should be thus reimbursed and paid. And the said secretary is further authorized to make purchases of the said notes, at par, for the amount of the principal and interest due at the time of purchase on such notes. And so much of any unappropriated money in the treasury as may be necessary for that purpose, is hereby appropriated, for paying the principal and interest of said notes.

SEC. 10. That if any person shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged, or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting, any note, in imitation of, or purporting to be, a treasury note aforesaid; or shall falsely alter, or cause or procure to be falsely altered, or willingly aid or assist in falsely altering any treasury note issued as aforesaid; or shall pass, utter, or publish, or attempt to pass, utter, or publish, as true, any false, forged, or counterfeited note, purporting to be a treasury note as aforesaid, knowing the same to be falsely forged or counterfeited, or shall pass, utter, or

publish, or attempt to pass, utter, or publish, as true, any falsely altered treasury note, issued as aforesaid, knowing the same to be falsely altered, every such person shall be deemed and adjudged guilty of felony, and being thereof convicted by due course of law, shall be sentenced to be imprisoned, and kept to hard labor, for a period not less than three years, nor more than ten years, and be fined in a sum not exceeding five thousand dollars.

Penalty for

SEC. 11. That if any person shall make or engrave, or cause or procure to be made or engraved, or shall have in his custody or possession engraving, &c. any metallic plate, engraved after the similitude of any plate from which any notes issued as aforesaid shall have been printed, with intent to use such plate, or to cause or suffer the same to be used in forging or counterfeiting any of the notes issued as aforesaid; or shall have in his custody or possession any blank note or notes engraved and printed after the similitude of any notes issued as aforesaid, with intent to use such blanks, or cause or suffer the same to be used in forging or counterfeiting any of the notes issued as aforesaid; or shall have in his custody or possession any paper adapted to the making of notes, and similar to the paper upon which any such notes shall have been issued, with intent to use such paper, or cause or suffer the same to be used in forging or counterfeiting any of the notes issued as aforesaid; every such person, being thereof convicted by due course of law, shall be sentenced to be imprisoned, and kept to hard labor, for a term not less than three nor more than ten years, and fined in a sum not exceeding five thousand dollars.

SEC. 12. That the Secretary of the Treasury be, and he is hereby, authorized to make and issue, from time to time, such instructions, rules, and regulations to the several collectors, receivers of public money, depositaries, and all others who may be authorized to receive the said treasury notes on behalf of and as agents in any capacity for the United States, as to the safe-keeping, disposition, return, and cancelling of the said notes so paid to and received by them respectively, and as to their accounts and returns to the department of all such receipts as may seem to him best calculated to promote the public interests and convenience, and secure the United States and the holders of the said notes against fraud and losses. Provided, That nothing herein contained shall be so construed as to authorize the Secretary of the Treasury to reissue any of said notes, but upon the return of the said notes or any of them to the treasury, the same shall be cancelled.

Secretary of the Treasury to make regulations.

To publish monthly state

SEC. 13. That it shall be, and hereby is, made the duty of the Secretary of the Treasury to cause a statement to be published monthly, of the ment. amount of all treasury notes issued or redeemed, in pursuance of the provisions of this act; and that the power to issue treasury notes conferred on the President of the United States by this act, shall cease and determine on the thirty-first day of December, eighteen hundred and thirtyeight.

CHAP. III. ·

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An Act authorizing a Loan not exceeding the Sum of Twelve Millions of

Dollars.

at 6 per cent.

Stat. at Large, Vol. V. p. 438. Be it enacted, &c. That the President of the United States is hereby President auauthorized, at any time within one year from the passage of this act, to thorized to borborrow, on the credit of the United States, a sum not exceeding twelve row $12,000,000 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 addi

When reimbursable.

The money

borrowed how to tion to the money now in the treasury, or which may be received therein be applied. 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 only on the books of the treasury.

Stock, how transferable. Certificates of

pared and sold.

SEC. 2. That the Secretary of the Treasury be, and he is hereby, austock to be pre- thorized, with the consent of the President, to cause to be prepared certificates of stock, signed by the Secretary and countersignd 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.

Proviso. Secretary of the Treasury to receive proposals for the loan, or,

&c.

SEC. 3. That the Secretary of the Treasury be, and he is hereby, authorized to receive proposals for taking the said loan, or to employ an agent 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 Expenses inci- and issuing certificates of stock, and other expenses incident to 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.

dent to this act

limited.

Secretary of the Treasury authorized to pur

chase stock prior

to time of redemption.

Faith of Unit

ed States pledged.

SEC. 4. That the Secretary of the Treasury is hereby authorized to purchase, at any 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 all the demands on the treasury, and any surplus in the treasury is hereby appropriated to that object.

SEC. 5. That the faith of the United States be, and is hereby, pledged for the punctual payment of the interest and redemption of said stock.

No. 6. - APRIL 15, 1842.

Stat. at Large, CHAP. XXVI. An Act for the Extension of the Loan of eighteen hundred and fortyVol. V. p. 473. one, and for an Addition of Five Millions of Dollars thereto, and for allowing Interest on Treasury Notes due.

Time for ob

taining the loan

extended.

Act of July 21, 1841, ch. 3. Ante, p. 759.

Loan reim

bursable when.

Form of certificates.

Stock, how transferable.

Stock to be

Be it enacted, &c. That the 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.

SEC. 2. 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.

SEC. 3. 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. That the Secretary of the Treasury be, and he hereby is, audisposed of how. thorized to dispose 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 Stafes 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,

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