Page:United States Statutes at Large Volume 12.djvu/209

THIRTY-SIXTH CONGRESS. Sess. II. Cu, 68. 1861. 179 brief statement of all the proposals submitted for the same, distinguishing between those accepted and those rejected, with a detailed statement of the expense of making such loans: Provided, That no stock shall be dis- No stock to be posed of at less than its par value: And provided, further, That no part “°l§i ‘*"£g°“ 2‘:“ of the loan hereby authorized shall be applied to the service of the present {Quad, m’ W fiscal year. Sec. 4. And be it further enacted, That in case the proposals made for said loan, or for so much thereof as the exigencies of the public service shall require, shall not be satisfactory, the President of the United States shall be, and hereby is, authorized to decline to accept such offer if for less Irpnoposslsfnr than the par value of the bonds constituting the said stock, and in lieu ]¤¤¤ m ¤¤¢ M- thereofi and to the extent and amount of the loan authorized to be made :,s:;,°,:ggg gm by this act, to issue treasury notes for sums not less than fifty dollars, issued. hearing interest at the rate of six per centum per annum, payable semiannually on the tirst days of January and July in each year, at proper places of payment to be prescribed by the Secretary, with the approval of the President; and under the like circumstances and conditions, the President of the United States is hereby authorized to substitute treasury notes of equal amount for the whole or any part of any of the loans Am<>¤¤t·. when for which he is now by law authorized to contract and issue bonds. And P“y“bi°• &°‘ the treasury notes so issued under the authority herein given, shall be received in payment for all debts due to the United States when offered, and in like manner shall be given in payment for any sum due from the United States, when payment in that mode is requested by the person to _ whom payment is to be made, or for their par value in coin. And the Ugg? gfx: faith of the United States is hereby pledged for the due payment of the pledged. interest and the redemption of the principal of the stock or treasury notes which may be issued under the authority of this act; and the sum of ,;,,,,,0,,,;,;,,0,, twenty thousand dollars is hereby appropriated, out of any money in the for ¢==p¢¤¤¢¤· treasury not otherwise appropriated, to pay the expenses of preparing the certificates of stock or treasury notes herein authorized, to be done in the usual mode and under the restrictions as to employment and pay- ment of omeers contained in the laws authorizing former loans and issues of treasury notes; and it shall be at the option of holders of the trees- May be exury notes hereby authorized by this act, to exchange the same for the changed for stock herein authorized, at par, or for bonds, in lieu of which said treas- b°“ds* S"' ury notes were issued : Provided, That no certificate shall be exchanged Promo. for treasury notes, or bonds, in sums less than five hundred dollars: And provided, further, That the authority to issue the said treasury notes, or _ Notes nottobe give the same in payment for debts due from the United States, shall be l’?:;d aim ·l“¤°» limited to the thirtieth day of June, eighteen hundred and sixty-two; ` that the same may be redeemable at the pleasure of the United States at Redemption. any time within two years after the passage of this act; and that said notes shall cease to bear interest after they shall have been called in by Interest. the Secretary of the Treasury under the provisions of this act. Sttc. 5. Ami be it further enacted, That from and after the first day of _Duties on for· April, Anno Domini eighteen hundred and sixty-one, in lieu of the duties gf'; ‘;?,l’;”?8 6*1** heretofore imposed by law on the articles hereinafter mentioned, and on P ’ ' such as may now be exempt from duty, there shall be levied, collected, 1862, ch- 33, Q and paid, on the goods, wares, and merchandise, herein enumerated and 5* P°“· ?" 34°· provided for, imported from foreign countries, the following duties and rates of duty, that Ls to say : First: Ou raw sugar, commonly called Muscovada or brown sugar, not Sugars, syrups, advanced beyond the raw state by cleying or other process; and on sirup 'md m°l°-"*’·‘°’- of sugar or of sugar cane, and concentrated molasses, or concentrated }§;l»<=h£·6 meiado, and on white and clayed sugars, when advanced beyond the raw l’ p' ' state by claying, or other process, and not refined. three fourths of one cent per pound; on refined sugars, whether loaf; lump, crushed, or pulverized, two cents per pound; on sugars, after being redned, when they