United States Statutes at Large/Volume 5/25th Congress/2nd Session/Chapter 184
[Obsolete.]
Chap. CLXXXIV.—An Act to authorize the sale of certain bonds belonging to the United States.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,Sec. Treas. authorized to sell the two bonds held by the U. S. against “the president, directors, and company of the Bank of the U. S.” chartered by Pennsylvania, &c. That the Secretary of the Treasury be, and he is hereby, authorized to sell upon the best terms he can command for money in hand in the markets of this or of any foreign country, as upon inquiry he shall find most for the interest of the United States, the two bonds held by the United States against “the president, directors, and company of the Bank of the United States,” chartered by the State of Pennsylvania, which will fall due in the month of September, in the year one thousand eight hundred and thirty-nine, and one thousand eight hundred and forty, being the two last of four several bonds, dated on the tenth day of May, one thousand eight hundred and thirty-seven, given to secure the payment of the sum of one million nine hundred and eighty-six thousand, five hundred and eighty-nine dollars and four cents each, with interest upon each bond, at the rate of six per centum per annum, from the third day of March, one thousand eight hundred and thirty-six until paid, the said four bonds having been received by the United States as security for the final payment of the stock held by the United States, in the late Bank of the United States, chartered by Congress, and toTo execute assignments. execute under his hand and the seal of his office, to the purchaser or purchasers of the said bonds, suitable and proper assignments to transfer to the said purchaser or purchasers, his, her, or their representatives, or assigns, all the right, title and interest of the United States, of, in, and to the money due and to become due upon the bonds sold and assigned in pursuance of this act: Provided,Proviso. That no sale of either of the said bonds shall be made upon terms less favorable to the United States than the par value of the bond sold, at the time of sale, calculated according the rules for estimating the par value of securities upon which interest has run for a time, but which securities have not reached maturity.
Sec. 2. And be it further enacted, That all money received upon the Disposal of money received therefrom.sale of the said bonds, shall be immediately paid into the Treasury of the United States, or placed to the credit of the Treasurer thereof in some proper depository, in the same manner that other moneys, received for dues to the Government, are by law directed to be paid into the Treasury.
Approved, July 7, 1838.