Page:United States Statutes at Large Volume 12.djvu/290

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260 THIR'I'Y—SEVENTH CONGRESS. Sess. I. C11. 5. 1861. accept the amount required by giving the preference to the smaller sub· Psy of ¥l1¤¤¤ scriptions; and the Secretary of the Treasury shell. Hx the compensartioug Q;r°fll'§;·'f,_ ‘“b' of the public officers or others designated for recexving said subscriptions; Pgovism Provided, That for performing this or any other duty m connection with this act, no compensation for serviees rendered shall be allowed or paid to any public officer whose salary is established by law; and the- Secretary of the Treasury may also make such other rules and regulations as he may deem expedient touching the instalment to be paid on any subscrip- Pnyment of tion at the time of subscribing, and further payments by instalments or ““-"“°"ll’°°°' otherwise, and penalties for non-payment of any instalment, and also eoncerning the receipt, deposit, and safe-keeping of money received from such subscriptions, until the same can be placed in the possession of the omcial depositaries of the Treasury, any law or laws to the contrary notwithstanding. And the Secretary of the Treasury is also authorized, if he shall deem it expedient, before opening books of subscription as above pro- Tmasuq notes vided, to exchange for coin or pay for public dues or for treasury notes $3353 ,;Pgx_ of the issue of twenty-third of December, eighteen hundred and fifty- cbgugqd {K, c,,;,,, seven, and falling due on the thirtieth of June, eighteen hundred and 8m. sixty-one, or for treasury notes issued and taken in exchange for such notes, any amount of said treasury notes for fifty dollars or upwards not exceeding one hundred millions of dollars. Proposals for Sec. 4. And be it further enacted, That, before awarding any portion {f8‘;;f,° b° P“b` of the loan in bonds authorized by this act, the Secretary of the Treasury, ° if he deem it advisable to issue proposals for the same in the United States, shall give not less than fifteen days’ public notice in two or more of the public newspapers in the city of Washington, and in such other places of the Uxiited States as he may deem advisable, designating the amount of such loan, the place and the time up to which sealed proposals will be re— ceived for the same, the periods for the payment, and the amount of each instalment in which it is to be paid, and the penalty for the non-payment of any such instalments, and when and where such proposals shall be opened in the presence of such persons as may choose to attend ; and the 8_M<>¤¢ >tV¢>*¤l>l¤ Secretary of the Treasury is authorized to accept the most favorable ge;{:dt°bu: Q?' proposals offered by responsible bidders: Provided, That no oil`er shall be not less than pu. accepted at less than par. _ Sec. 5. And be it further enacted, That the Secretary of the Treasury mf°'€:¤n<g kw may, if he deem it advisable, negotiate any portion of said loan, not extmzd in foép ceeding one hundred millions of dollars, in any foreign country and pay- country. able at any designated place either in the United States or in Europe, and may issue registered or coupon bonds for the amount thus negotiated egreeably to the provisions of this act, bearing interest payable semiannual1y,either in the United States or at any designated place in Europe ; Proceedings in and he is further authorized to appoint such agent or agents as he may '“°h ‘“‘"' deem necessary for negotiating such loan under his instructions, and for paying the interest on the same, and to fix the compensation of such agent or agents, and shall prescribe to them all the rules, regulations, and modes under which such loan shall be negotiated, and shall have power to fix the rate of exchange at which the principal shall be received from the contractors for the loan, and the exchange for the payment of the principal and interest in Europe shall be at the same rate. Trensu;-g notes Sec. 6. And be it further enacted, That whenever any treasury notes ggizfisfueé “;i"g'_ of a denomination less than filly dollars, authorized to be issued by this ge Dec, 31, 1g5g_ uct, shall have been redeemed, the Secretary of the Treasury may re-issue I the same, or may cancel them and issue new notes to an equal amount: Promo. Provided, That the aggregate amount of bonds and treasury notes issued under the foregoing provisions of this act shall never exceed the full amount authorized by the first section of this act; and the power to issue, or re·1ssue such notes shall cease and determine after the thirty-first of December, eighteen hundred and sixty-two.