218 THIRTIETH CONGRESS. Ssss. I. Ch. 26. 1848. of the United States, to cause to be prepared certificates of stock, which shall be signed by the Register of the Treasury, and sealed with the seal of the Treasury Department, for the sum to be borrowed as aforesaid, or any part thereof, bearing an interest not to exceed six per centum per annum, and transferable and reimbursable as aforesaid, How wld-. and to cause said certificates of stock to be sold: Provided, That no Ceuponsrorsn- part of said stock be sold below par : And provided, also, That, when-
- °'°“t· ever required so to do, the Secretary of the Treasury shall cause to be
attached to any certificate or certificates to be issued under this act, coupons of interest; and any certificate having such coupons of inter- Certificates est attached to it, may be transferable by delivery of the certificate, 3`*t'!**`°'“bl° b! instead of being assignable on the books of thetreasury; but no cer. ° muy' tificate of stock shall be issued for a lessamount than fifty dollars, thPH°P°¤¤l¤ *,*3* Sec. 3. And be it further enacted, That the Secretary of the ,,,$,,_£P may ° Treasury be, and he is hereby, authorized to receive proposals for the taking of such loan, or any part or parts thereof; and that before disposing of the said stock issued for such loan, the Secretary of the Treasury shall cause to be inserted in one or two public newspapers printed in the city of Washington, and in one or two public newspapers printed in the principal city or capital of each State, an advertisement stating that bids and proposals for such loan will be received until a certain day, to be specified in such advertisement, not more than sixty days or less than twenty days from the time of the first insertion of said advertisement in one or two newspapers in the city of Washington, and stating the amount of the loan required, and in what instalments, and when and where it will be required to be paid. And all such proposals shall be required to be sealed, and shall be opened by the secretary, or other officer of the department, on the day appointed, publicly, and in the presence of such persons as may choose to attend; and no proposal shall be withdrawn after the same shall have been received at the Treasury Department; and the said secretary may pay such expenses as may be necessarily incurred in printing and issuing C°¤*l“€,'E¤*,;’F· certificates of stock: Provided, however, That the employment of
° B agents, and other expenses incident to the execution of this act, shall
not in all exceed the sum of sixteen thousand dollars; which sum of sixteen thousand dollars is hereby appropriated for these purposes, and shall be paid out of any money in the treasury not otherwise appropri- P'°"lS°· ated: And provided, That no compensation shall be allowed to any officer whdse salary is fixed by law, for any service performed by him in the execution of this act. Public faith Sec. 4. And oe it further enacted, That the faith of the United
- L‘;f§gQ, ll"' '°‘ States is hereby pledged to provide and establish sufficient revenues for
i the regular payment of the interest, and for the redemption of said stock. And the principal sum borrowed under the provisions of this act, and the interest thereon, as the same shall, from time to time, become due and payable, shall be paid out of any money in the treasury APP'°P’i¤*l°¤· not otherwise appropriated. P¤f<=h¤=¤ of SBC. 5. And be itfzrther enacted, That the Secretary of the Treas-
ury be, and he is hereby, authorized to purchase, at any time before
in the treasury. the period herein limited for the redeniption of the stock hereby created, such portion thereof at the market price, not below par, as the funds of the government may admit of, after meeting all the demands on the treasury ; and any surplus that hereafter may be in the treasury is hereby appropriated to that object. m£,;P°;}. *3,:*** Sec. 6. And be itfurt/ner enacted, That it shall be the duty of the dong under thi; Secretary of the Treasury to report to Congress, at the commencement ¤°*· of the next session, the amount of money borrowed under this act, and of whom, and on what terms it shall have been obtained, with an abstract or brief statement of all the proposals submitted for the sums,
