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CHAP. 4.-AN ACT for the relief of Julius Eldred, Elisha Eldred, and Francis E. Eldred, for expenses and services in removing the copper rock from Lake Superior.

thorized to set

[SEC. 1.] Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of War be, and he is hereby, The Secretaauthorized and directed to allow and settle, upon just and Y of War auequitable terms, the account of Julius Eldred and sons for tle and allow their time, services, and expenses in purchasing and remov- upon equitable ing from the Ontonagon river of Lake Superior to Detroit terms their acthe mass of native copper, commonly called the copper rock, ving the copper taken from said Eldred and sons, in eighteen hundred and rock from Lake forty-three, by order of the Secretary of War, and removed Superior. to the city of Washington; and that the amount so allowed be paid out of any moneys in the Treasury not otherwise appropriated.

Approved, January 26, 1847.

CHAP. 5.-AN ACT authorizing the issue of Treasury notes, a loan, and for other purposes.

[SEC. 1.] Be it enacted by the Senate and House of Representatives of the United States of America in Congress as

count for remo

authorized.

sembled, That the President of the United States is hereby An issue of authorized to cause Treasury notes for such sum or sums as Treasury notes the exigencies of the Government may require, but not exceeding in the whole amount of notes issued the sum of twenty-three 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.

rest, &c.

SEC. 2. And be it further enacted, That the said Treasury To be redeemnotes authorized to be issued by the first section of this act able after one shall be reimbursed and redeemed by the United States, at year, with intethe Treasury thereof, after the expiration of one year or two years from the dates of the said notes respectively; from which said dates they shall bear such interest, until they shall be respectively redeemed, 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: Provided, That, after Proviso. the maturity of any of the said notes, 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. The reimbursement herein provided for shall be made at the Treasury of the United

How such notes shall be

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. And be it further enacted, That the said Treaprepared and sury notes shall be prepared under the direction of the Secaccounted for. retary 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 account shall be entered in a book or books, to be provided for that purpose, and carefully preserved in the Treasury Department; and also similar accounts, kept and preserved in the same manner, of all the said notes redeemned, as the same shall be returned and cancelled; and the Treasurer shall further account, quarterly, for all such notes delivered to him Treasurer and for signature or issue by the Register. The Treasurer and Register autho- Register of the Treasury are hereby authorized, by and with additional fem- the consent and approbation of the Secretary of the Treaporary clerks. sury, to employ such additional temporary clerks as the duties

rized to employ

Proviso.

enjoined upon them by this act may render necessary: Provided, Said number shall not exceed five, and with a salary of not more than at the rate of twelve hundred dollars to each per annum.

A portion of SEC. 4. And be it further enacted, That the Secretary of such notes may the Treasury is hereby authorized, with the approbation of be issued in payment of debts the President of the United States, to cause to be issued due by the Uni- such portion of the said Treasury notes as the President may ted States; and think expedient in payment of debts due by the United States, borro'd on their to such public creditors, or other persons, as may choose to

money may be

credit.

Proviso.

How transferable.

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 such sums as the President may think expedient on the credit of such notes: Provided, however, That no Treasury notes shall be pledged, hypothecated, sold, or disposed of in anywise, for any purpose whatever, directly or indirectly, for any sum less than the amount of such notes, including the principal and interest thereon, when disposed of.

SEC. 5. And be it further enacted, That the said Treasury notes shall be transferable, by delivery and assignment endorsed thereon, by the person to whose order the same shall on the face thereof have been made payable.

of all duties, tax

SEC. 6. And be it further enacted, That the said Trea- To be receiv sury notes shall be received in payment of all duties and taxes ed in payment laid by the authority of the United States, of all public lands es, &c. due the sold by the said authority, and of all debts to the United United States. 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 such payment credit shall be given for the amount of the principal and interest which, on the day of such payment, may be due on the note or notes thus given in payment.

ers of public mo

SEC. 7. And be it further enacted, That every collector, How Collectreceiver of public moneys, or other officer or agent of the ors and ReceivUnited States, shall, on the receipt of any Treasury notes in neys shall repayment for the Government, take from the holder thereof a ceive such notes receipt on the back of each of said notes, stating distinctly in payments to the date and the amount received, and shall keep, according and account for to such forms as shall be prescribed by the Secretary of the the same. Treasury, entries of whom received, the number, date, and respective amounts of principal and interest of each and every Treasury note thus received; and, on delivering the same to the Treasury, shall receive credit for the amount paid, as prescribed by the last section, provided no error shall appear.

to be reimburs

SEC. 8. And be it further enacted, That the Secretary of How and when the Treasury be and he is hereby authorized and directed to such notes are cause to be reimbursed and paid the principal and interest of ed and paid. 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

Treasury

such notes.

paid. And the said Secretary is further authorized to make Secretary of purchases of the said notes at par for the amount of the the principal and interest due at the time of purchase on such may purchase notes. And so much of 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. 9. And be it further enacted, That if any person Penalty for shall falsely make, forge, or counterfeit, or cause or procure forging & counto be falsely made, forged, or counterfeited, or willingly aid terfeiting. 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 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 at hard labor for a period not less than three years nor more than ten years, and to be fined in a sum not exceeding five thousand dollars/

Penalty for SEC. 10. And be it further enacted, That, if any person making or en shall make or engrave, or cause or procure to be made or engraving any mefallic plate,&c., graved, or shall have in his custody or possession any metallic with intent to plate engraved after the similitude of any plate from which use the same in any notes issued as aforesaid shall have been printed, with forging or coun- ; terfeiting. intent to use such plate, 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 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.

thorized to make

The Sec'y of SEC. 11. And be it further enacted, That the Secretary of the Treasuryau- the Treasury be, and he is hereby, authorized to make and is& issue instruc- Sue, from time to time, such instructions, rules, and regulations, rules, &c., tions to the several collectors, receivers of public money, deto collectors, re- positaries, and all others who may be authorized to receive ceivers of public money, &c., in the said Treasury notes on behalf of, and as agents in any regard to the capacity for the United States, as to the safekeeping, disposafe keeping, sition, return, and cancelling of the said notes so paid to and turn, & cancel- received by them, respectively, and as to their accounts and ling of notes. returns to the Department of 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 notes against fraud and losses.

disposition, re

Other notes

in lieu of notes

redeemed.

notes

SEC. 12. And be it further enacted, That, in lieu of the may be issued notes authorized by this act, which may be redeemed, other may be issued: Provided, however, The amount of Proviso. such notes outstanding, together with the stock issued by virtue of the thirteenth and sixteenth sections of this act, shall not exceed the sum of twenty-three millions of dollars. Holders of SEC. 13. And be it further enacted, That it shall be lawnotes may pre-ful for the holders of the aforesaid Treasury notes to present sent them at any time, & receive them at any time to the Treasury of the United States, or to therefor certifi- any assistant treasurer, or to such collectors of the customs cates of funded and receivers of public moneys as may be designated by the

stock.

Secretary of the Treasury; and the holders of the said Trea-
sury notes shall be entitled to receive therefor the amount of
the principal of the said notes in a certificate or certificates
of funded stock, bearing interest at six per centum per an-
num, from the date of such presentment of said Treasury
notes, and for the interest shall be paid in money; and the
stock thus to be issued shall be transferable on the books of
the Treasury: Provided, however, and be it further enacted, Proviso.
That it shall be lawful for the United States to reimburse the
stock thus created at any time after the last day of Decem-
ber, one thousand eight hundred and sixty-seven.

of

issued underthis

SEC. 14. And be it further enacted, That it shall and may Holders be lawful for the holder of any Treasury notes issued, or au- Treasury notes thorized to be issued, under this act or any laws heretofore or any former passed, to convert the same into certificates of funded stock, act may convert upon the same terms and in the same manner hereinbefore certificates of provided in relation to the Treasury notes authorized by the funded stock. first section of this act.

the same into

SEC. 15. And be it further enacted, That the authority to The authority issue Treasury notes authorized by the "Act authorizing an to issue Treaissue of Treasury notes and a loan," approved July twenty- the act of July sury notes in second, one thousand eight hundred and forty-six, be, and 22d, 1846, exthe same is hereby, extended to the same period fixed for the tended to the Treasury notes authorized by this act, and upon the same ed for the notes same period fixterms and conditions herein specified: Provided, That the authorized by Treasury notes authorized by this section shall not exceed Proviso. five millions of dollars.

this act.

of notes author

SEC. 16. And be it further enacted, That the President, The President if in his opinion it shall be the interest of the United States may instead of issuing the so to do, instead of issuing the whole amount of Treasury whole amount notes authorized by the first section of this act, may borrow, ized by the 1st on the credit of the United States, such an amount of money sec. of this act, as he may deem proper, and issue therefor stock of the United borrow such a States bearing interest at a rate not exceeding six per centum mount of money as he may deem per annum for the sum thus borrowed, redeemable after thirproper. ty-first December, eighteen hundred and sixty-seven: Pro- Proviso. vided, however, That the sum so borrowed, together with the Treasury notes issued under the first and twelfth sections of this act outstanding, and the stock created by this and the thirteenth section of this act, shall not in the whole exceed the sum of twenty-three millions of dollars: And provided further, That no stock shall be issued at a less rate than

par.

SEC. 17. And be it further enacted, That the interest on Interestonstock the stock created by this act shall be payable semi-annually when payable. on the first days of January and July in each year.

SEC. 18. And be it further enacted, That the certificates How certif of stock to be issued under this act shall be signed by the Register of the Treasury, and the Secretary of the Treasury and sealed.

cates of stock are to be signed

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