Acts Authorizing Loans, and Synopsis of same.

Act of March 3, 1863.

Act of June 30, 1864..
Act of June 30, 1864..

Act of March 3, 1863.
Act of June 30, 1864..

Act of Jan. 28, 1865..
Act of March 3, 1865.

Authorized an issue not exceeding $50,000,000, in fractional
currency (in lieu of postage or other stamps), exchange-
able for United States notes in sums not less than three
dollars, and receivable for any dues to the United States
less than five dollars, except duties on imports. The
whole amount issued, including postage and other stamps
issued as currency, not to exceed $50,000,000, Authority
was given to prepare it in the Treasury Department, un-
der the supervision of the Secretary.

Authorized an issue in lieu of the issue under acts of July
17, 1862, and March 3, 1863, the whole amount outstanding
under all these acts not to exceed $50,000,000.
Authorized an issue of $400,000,000 of bonds, redeemable at
the pleasure of the Government, after any period not less
than five nor more than thirty years, or, if deemed expe-
dient, made payable at any period not more than forty
years from date. And said bonds shall bear an annual
interest not exceeding 6 per centum, payable semi-
annually in coin. And the Secretary of the Treasury
may dispose of such bonds, or any part thereof, and of any
bonds commonly known as five-twenties, remaining un
sold, on such terms as he may deem most advisable, for
lawful money of the United States, or, at his discretion,
for Treasury notes, certificates of indebtedness, or cer-
tificates of deposit, issued under any act of Congress.
Authorizes an issue of Treasury notes, not exceeding three
years 10 run, interest at not over 6 per cent. per annum,
principal and interest payable in lawful money. Also,
authorizes the issue of, and in lieu of, an equal amount
of bonds authorized by the first section, and as a part of
said loan, not exceeding $200,000,000, in Treasury notes of
any denomination not less than ten dollars, payable at
any time not exceeding three years from date, or, if
thought more expedient, redeemable at any time after
three years from date, and bearing interest not exceed-
ing the rate of 7 3-10 per centum, payable in lawful
money at maturity, or at the discretion of the Secre-
tary, semi-annually; and such of them as shall be made
payable, principal and interest, at maturity, shall be a
legal tender to the same extent as United States notes,
for their face value, excluding interest, and may be paid
to any creditor of the United States, at their face value,
excluding interest, or to any creditor willing to receivé
them at par, including interest; and any Treasury notes
issued under the authority of this act, may be made eon-
vertible, at the discretion of the Secretary of the Treas-
ury, into any bonds issued under the authority of this
act, and the Secretary may redeem, and cause to be can-
celed and destroyed any Treasury notes or United States
notes heretofore issued under authority of previous acts
of Congress, and substitute in lieu thereof an equal
amount of Treasury notes, such as are authorized by this
act, or of other United States notes; nor shall any Treas-
ury note bearing interest, issued under this act, be a
legal tender, in payment or redemption of any notes is-
sued by any bank, banking association, or banker, calcu-
lated or intended to circulate as money.
Whole amount may be issued in bonds or Treasury notes, at
the discretion of the Secretary.
Authorized an issue of $600 in bonds or Treasury
uotes; bonds may be made payable at any period not
more than forty years from the date of issue, or may be
made redeemable at the pleasure of the Government, at
or after any period not less than five years nor more than
forty years from date, or may be made redeemable and
payable as aforesaid, as may be expressed upon their face,
and so much thereof as may be issued in Treasury notes

Acts Authorizing Loans, and Synopsis of same.

Act of March 3, 1865, (Continued.)

Acts of April 12, 1866, amendment to act March 3, 1865.........

Acts of July 1, 1862, and July 2, 1864.

Act of March 2, 1867.

may be made convertible into any bonds authorized by this act, and be of such denominations, not less than fifty dollars, and bear such dates, and be made redeemable or payable at such periods as the Secretary of the Treasury may deem expedient. The interest on the bonds payable semiannually; on Treasury notes semi-annually, or annually, or at maturity thereof; and the principal or interest, or both, be made payable in coin or other lawful money; if in coin, not to exceed 6 per cent. per annum; when not payable in coin, not to exceed 7 3-10 per cent. per annum. Rate and character to be expressed on bonds or Treasury notes. Authorizes the Secretary of the Treasury, at his discretion, to receive any Treasury notes or other obligations issued under any act of Congress, whether bearing interest or not, in exchange for any description of bonds authorized by the act to which this is an amendment; and also to dispose of any description of bonds authorized by said act, either in the United States or elsewhere, to such an amount, in such manner, and at such rates as he may think advisable, for lawful money of the United States, or for any Treasury notes, certificates of indebtedness, or certificates of deposit, or other representatives of value, which have been or which may be issued under any act of Congress, the proceeds thereof to be used only for retiring Treasury notes or other obligations issued under any act of Congress: but nothing herein contained shall be construed to authorize any increase of the public debt.

Bonds issued to the Union Pacific Railroad Company, in accordance with these acts.

For the purpose of redeeming and retiring any compound interest notes outstanding, the Secretary of the Treasury is authorized to issue temporary loan certificates in the manner prescribed by section four of the act entitled "An act to authorize the issue of United States notes and for the redemption or funding thereof, and for funding the floating debt of the United States," approved February twenty-fifth, eighteen hundred and sixty-two, bearing interest at a rate not exceeding three per centum per annum, principal and interest payable in lawful money on demand; and said certificates of temporary loan may constitute and be held by any national bank holding or owning the same, as a part of the reserve provided for in sections thirty-one and thirty-two of the act entitled "An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof," approved June three, eighteen hundred and sixty-four: Provided, That not less than two-fifths of the entire reserve of such bank shall consist of lawful money of the United States: And provided further, That the amount of such temporary certificates at any time outstanding shall not exceed fifty millions of dollars.

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4 Last Mon. Dec.

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