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before recited, to negotiate the same: Provided, That no stocks shall be disposed of at a lower rate than the highest price offered in said proposals.

payment of the

SEC. 5. That the moneys arising from duties on goods, wares, and Moneys arismerchandise, which may be imported into the United States, or so much ing from duties thereof as shall be equal to the payment, from time to time, of the inter- pledged for the est, and to the ultimate redemption of the principal of the said stock, be, interest, &c. 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.

Report to be

made to Con

gress of the

SEC. 6. That it shall be the duty of the Secretary of the Treasury to report to Congress, at the commencement of the next session, the amount of money borrowed under this act and the act hereby amended, and of amount of monwhom and upon what terms it shall have been obtained, with an abstract ey borrowed, &c. 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.

SEC. 7. That all the provisions of the said act, not hereby modified or changed, shall be and remain in force, and apply to this act.

SEC. 8. That the President of the United States is hereby authorized to borrow an 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 be made within the time, and according to the provisions, of said act, as modified by this.

SEC. 9. That all treasury notes heretofore issued under the act entitled "An act to authorize the issuing of treasury notes," approved the twelfth day of October, eighteen hundred and thirty-seven, 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 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.

ions of the for

What provis

mer act shall re

main in force.

Additional loan authorized.

Treasury notes due and unpaid, cent. interest.

&c. to bear 6 per

Act of Oct. 12,

1837, ch. 2. Ante, p. 757.

Proviso.

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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.

Stat. at Large, Vol. V. p. 581.

Certain stocks not to be sold

below par.

Be it enacted, &c. That no stock authorized to be issued for a loan, by the act entitled "An act authorizing a loan not exceeding the sum of twelve millions of dollars," approved July twenty-first, eighteen hundred and forty-one, and the act amendatory of the same, entitled "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," approved April fifteenth, eighteen hundred and fortytwo, shall hereafter be sold below par; and in case the same cannot be sold at or above par, and the exigencies of the public service shall require When treasury

notes may be is the same, then and in that case the Secretary of the Treasury shall be,

sned.

Limitations.

and hereby is, authorized to issue treasury notes in lieu of so much thereof as cannot be thus negotiated, to an amount not exceeding six millions of dollars.

SEC. 2. That the treasury 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 issued under the provisions and limitations contained in the act entitled "An act to authorize the issuing of treasury notes," approved the twelfth day of October, eighteen hundred and thirty-seven, and as modified by the act entitled "An act additional to the act on the subject of treasury notes," approved March thirty-first, eighteen hundred and forty: Provided, That the notes authorized to be issued by virtue of this act may, when redeemed, be re-issued, 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 shall be outstanding at any one time under the authority of this act.

SEC. 3. That nothing in the act contained, entitled an act authorizing the loan, above 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.

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Stat. at Large, CHAP. LXIX. — An Act regulating the Currency of Foreign Gold and Silver Coins in Vol. V. p. 607. the United States.

Repealed. See 1857, ch. 56, § 3.

[Be it enacted, &c. That from and after the passage of this act, the following foreign gold coins shall pass current as money within the United States, and be receivable, by weight, for the payment of all debts and demands, at the rates following, that is to say: the gold coins of Great Britain, of not less than nine hundred and fifteen and a half thousandths in fineness, at ninety-four cents and six tenths of a cent per pennyweight; and the gold coins of France, of not less than eight hundred and ninety-nine thousandths in fineness, at ninety-two cents and nine tenths of a cent per pennyweight.

SEC. 2. That from and after the passage of this act, the following foreign silver coins shall pass current as money within the United States, and be receivable by tale, for the payment of all debts and demands, at the rates following, that is to say the Spanish pillar dollars, and the dollars of Mexico, Peru, and Bolivia, of not less than eight hundred and ninety-seven thousandths in fineness, and four hundred and fifteen grains in weight, at one hundred cents each; and the five-franc pieces of France, of not less than nine hundred thousandths in fineness, and three hundred and eighty-four grains in weight, at ninety-three

cents each.

SEC. 3. That it shall be the duty of the Secretary of the Treasury to cause assays of the 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, CHAP. XCII. Vol. V. p. 625.

Rates of custom-house com

putations of for-
eign coins.
1846, ch. 23.

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An Act to fix the Value of certain Foreign Moneys of Account, in Computations at the Custom-Houses.

Be it enacted, &c. That in all computations of the value of foreign moneys of account at the custom-houses of the United States, [the thaler of Prussia shall be deemed and taken to be of the value of sixty-eight and one half cents ;] the milreis of Portugal shall be deemed and taken to be of the value of one hundred and twelve cents; the rix dollar of Bremen shall be deemed and taken to be of the value of seventy-eight and three quarter cents; the

thaler of Bremen, of seventy-two grotes, shall be deemed and taken to be of the value of seventy-one cents; that the milreis of Maderia shall be deemed and taken to be of the value of one hundred cents; the milreis of the Azores shall be deemed and taken to be of the value of eighty-three and one third cents; the marc-banco of Hamburg shall be deemed and taken to be of the value of thirty-five cents; the rouble of Russia shall be deemed and taken to be of the value of seventy-five cents; the rupee of British India shall be deemed and taken to be of the value of forty-four and one half cents; and all former laws inconsistent herewith are hereby repealed.

No. 10.- MARCH 3, 1845.

[No. 14.] A Joint Resolution directing the Secretary of the Treasury, whenever any State Stat. at Large, shall have been or may be in Default for the Payment of Interest or Principal on Invest- Vol. V. p. 801. ments in its Stocks or Bonds held by the United States in Trust, to retain certain Moneys to which such State is entitled for the Purposes therein named.

Resolved, &c. That whenever any State shall have been or may be in Amount due default for the payment of interest or principal on investments in its stocks on State stocks held by United or bonds, held by the United States in trust, it shall be the duty of the States in trust, Secretary of the Treasury to retain the whole, or so much thereof as may to be withheld be necessary, of the percentage to which such State may be entitled, of from said States. the proceeds of the sales of the public lands within its limits, and apply the same to the payment of said interest or principal, or to the reimbursement of any sums of money expended by the United States for that pur

pose.

No. 11. MAY 22, 1846.

CHAP. XXIII.-An Act to establish the Value of certain Foreign Coins and Moneys of
Account, and to amend existing Laws.

Stat. at Large, Vol. IX. p. 14.

Rate of custom-house computation of for

Be it enacted, &c. That in all computations at the custom-house, the foreign coins and money of account herein specified shall be estimated as follows, to wit: The specie dollar of Sweden and Norway, at one hundred eign coins. and six cents; the specie dollar of Denmark, at one hundred and five cents; the thaler of Prussia and of the Northern States of Germany, at sixty-nine cents; the florin of the Southern States of Germany, at forty cents; the florin of the Austrian Empire, and of the city of Augsburg, at forty-eight and one half cents; the lira of the Lombardo-Venetian Kingdom, and the lira of Tuscany, at sixteen cents; the franc of France and of Belgium, and the lira of Sardinia, at eighteen cents six mills; the ducat of Naples, at eighty cents; the ounce of Sicily, at two dollars and forty cents; the pound of the British provinces of Nova Scotia, New Brunswick, Newfoundland, and Canada at four dollars. And all laws inconsistent with this act are hereby repealed.

No. 12.- JULY 22, 1846.

CHAP. LXIV. - An Act to authorize an Issue of Treasury Notes and a Loan. Stat. at Large, Vol. IX. p. 39. Be it enacted, &c. That the President of the United States is hereby Issue of treasauthorized to cause treasury notes to be issued for such sum or sums as ury notes authorized, not exthe exigencies of the government may require; and, in place of such of ceeding ten milthe same as may be redeemed, to cause others to be issued; but not ex- lions to be outceeding the sum of ten millions of dollars of this emission outstanding at standing at any any one time, and to be issued under the limitations and other provisions contained in the act entitled "An act to authorize the issue of treasury To be issued notes," approved the twelfth of October, one thousand eight hundred and under the limita

one time.

of 1837, ch. 2.

The President may borrow

money in lieu of issuing treasury notes, and issue

stock for the sum borrowed, &c.

1842, ch. 26.

tions of the act 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. SEC. 2. That the President, if in his opinion it shall be the interest of the United States so to do, instead of issuing the whole amount of treasury notes authorized by the first section of this act, may borrow on the credit of the United States such an amount of money as he may deem proper, and issue therefor stock of the United States for the sum thus borrowed, in the same form, and under the same restrictions, limitations, and provisions, as are contained in the act of Congress, approved April fifteenth, one thousand eight 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 millions of dollars thereto, and for allowing interest on treasury notes due." Provided, however, That the sum so borrowed, together with the treasury notes issued by virtue of this act, shall not, in the whole, exceed the sum of ten millions of dollars: And provided, No commission further, That no commission shall be allowed or paid for the negotiation of the loan authorized by this act; and also that the said stock shall be redeemable at a period not longer than ten years from the issue thereof. SEC. 3. That the treasury notes and the stock issued under the provisions of this act 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.

Whole amount

not to exceed $10,000,000.

to be allowed.

Not to bear a higher rate of interest than 6 per cent.

No compensa

to any salaried

SEC. 4. That no compensation shall be made to any officer, whose salary tion to be made is fixed by law, for preparing, signing, or issuing treasury notes; nor shall any clerks be employed beyond the number authorized by the act herein referred to.

officer for preparing, signing, and issuing said notes, &c.

notes.

SEC. 5. That the sum of fifty thousand dollars be, and the same is $50,000 appro- hereby, appropriated, out of any money in the treasury not otherwise appriated for pay-propriated, for the purpose of paying the amount of certain treasury notes ing the amount of certain pur- (which, having been received or redeemed by any authorized officer of loined treasury 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.

See act of Aug. 10, 1846, ch. 180.

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Stat. at Large, CHAP. XC.- An Act to provide for the better Organization of the Treasury, and for the Vol. IX. p. 59. Collection, Safe-keeping, Transfer, and Disbursement of the Public Revenue.

On and after

Jan. 1, 1847, the duties, taxes, &c. accruing to the United States shall be paid in gold and silver

coin or in treas

ury notes.

Monthly publication.

On and after

April 1, 1847,

SEC. 18. That on the first day of January, in the year one thousand eight hundred and forty-seven, and thereafter, all duties, taxes, sales of public lands, debts, and sums of money accruing or becoming due to the United States, and also all sums due for postages or otherwise, to the general post-office department, shall be paid in gold and silver coin only, or in treasury notes issued under the authority of the United States: Provided, That the Secretary of the Treasury shall publish, monthly, in two newspapers at the city of Washington, the amount of specie at the several places of deposit, the amount of treasury notes or drafts issued, and the amount outstanding on the last day of each month.

SEC. 19. That on the first day of April, one thousand eight hundred and forty-seven, and thereafter, every officer or agent engaged in making all payments to be made in gold disbursements on account of the United States, or of the general postand silver coin, office, shall make all payments in gold and silver coin, or in treasury notes,

* For the whole of this act, see ante, p. 296.

notes if the cred

if the creditor agree to receive said notes in payment; and any receiving or in treasury or disbursing officer or agent who shall neglect, evade, or violate the pro- itor agrees to revisions of this and the last preceding section of this act, shall, by the Sec- ceive them.

Violation of

retary of the Treasury, be immediately reported to the President of the this and the preUnited States, with the facts of such neglect, evasion, or violation, and ceding section to also to Congress, if in session; and if not in session, at the commence- be reported to ment of its session next after the violation takes place.

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CHAP. CLXXX. — An Act to provide for the Payment of the Evidences of Public Debt in certain Cases.

the President and to Congress.

Stat. at Large, Vol. IX. p. 106.

redeem treasury

Act of July

22, 1846, § 5.

nature of evi

Be it enacted, &c. That whenever it shall appear to the satisfaction of Secretary of the Secretary of the Treasury, upon due proof taken in the manner herein- the Treasury to after directed, that any treasury note, which has been, before the passage notes which of this act, received or redeemed by any authorized officer of the govern- have been stolen and put into cirment, has been subsequently purloined or stolen, and put into circulation, culation and not without having upon it any evidence or marks of having been cancelled, cancelled. and has been received by any person or institution, for a full consideration, in the usual course of business, without notice or knowledge of the same having been redeemed or received as aforesaid, or having been cancelled, or having been purloined or stolen as aforesaid, and without any circumstances existing to create suspicion of the good faith or due caution with which the same may have been received by such person or institution, he shall be, and hereby is, authorized to cause the amount of such note to be paid to the innocent holder thereof, out of any money in the treasury not otherwise appropriated. Provided, That the facts upon Proviso as to which any such payment shall be made shall be proved by the oath or dence required affirmation of a credible witness or witnesses, taken before any judge of to prove the the United States, or of the highest court of record, or of the presiding facts. judge of any court, exercising unlimited jurisdiction in amount, of any State, Territory, or district, and of the taking of which testimony due notice shall previously be given to the district attorney of the United States for the district in which such testimony is taken, who shall be at liberty to appear and propound questions to such witnesses; all which evidence shall be transmitted to the Secretary of the Treasury, and preserved in his department; and all wilful false swearing upon such examination shall be and hereby is declared to be perjury, and liable to the punishment jury. for that offence prescribed by the laws of the United States: And provided further, That a statement of all treasury notes paid under the provisions of this act, within the preceding year, shall be submitted to Congress with the annual report of the Secretary of the Treasury in relation to the finances.

False swearing to be per

Statement to be submitted to Congress.

Officers or

United States

amount.

SEC. 2. That when any officer or agent of the United States, duly authorized to receive, redeem, or cancel any treasury notes issued by author- agents of the ity of law, has received or shall receive, or has paid or shall pay, any receiving such treasury note which has been previously received or redeemed by any notes to be credofficer or agent having authority to receive or redeem such note, and ited with their which had subsequently thereto been purloined and put into circulation, the Secretary of the Treasury, upon full and satisfactory proof that the same had been received or paid in good faith, and in the exercise of ordinary prudence, may allow a credit for the amount of such note to the officer or agent so receiving or paying the same; and all credits which have, before the passage of this act, been allowed in such cases, and under such circumstances, are hereby sanctioned.

SEC. 3. That all acts and parts of acts heretofore enacted, which are supplied by this act, so far as the same may not have been acted on, are hereby repealed; and so far as they may have been acted on, they are ratified and confirmed.

Credits made

to be sanctioned.

Repeal of acts supplied by this act if not acted

on; if acted on,

ratified and confirmed.

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