United States Statutes at Large/Volume 5/27th Congress/3rd Session/Chapter 81
[Obsolete.]
Chap. LXXXI.—An Act authorizing the reissue of treasury notes and for other purposes.[1]
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,Act of Aug. 31, 1842, ch. 287.
Reissue of treasury notes authorized. That when any outstanding treasury notes, issued in pursuance of the act of thirty-first August, one thousand eight hundred and forty-two, entitled “An act to limit the sale of public stock to par, and to authorize the issue of Treasury Note (19th century)treasury notes, in lieu thereof, to a certain amount]],” or any previous act of Congress, shall, after the passage of this act, be redeemed at any time before the first day of July, one thousand eight hundred and forty-four, the Secretary of the Treasury, should the wants of the public service require, may cause other notes, to the same amount, to be issued in place of such as may be redeemed, under the limitations and other provisions of the respective acts by which said notes were originally authorized and issued.
Payment of interest on treasury notes.
1842, ch. 26.Sec. 2. And be it further enacted, That, after maturity of the treasury notes issued under said act of thirty-first August, or of this act, interest may be paid thereon, in the same manner as on the treasury notes authorized previous to the fifteenth April last, under the ninth section of the act approved on that day, entitled “An act for the extension of the loan of one thousand eight hundred and forty-one, and for an addition of five millions of dollars thereto, and for allowing interest on treasury notes due.”
Issue of stock in lieu of treasury notes authorized.Sec. 3. And be it further enacted, That, in lieu of issuing the treasury notes in the manner authorized by the first section of this act, the President, if in his opinion it shall be for the interest of the United States so to do, may cause any of said notes now outstanding, to be redeemed and cancelled as they become due, if the Secretary of the Treasury cannot redeem them out of the funds in the treasury, by an issue of stock of the United States, for the amount thus redeemed, in the same form, for the same time, and under the same restrictions, limitations, and provisions, as are contained in an act approved April fifteen, eighteen hundred and forty-two, entitledAct of April 15, 1842, ch. 26. “An act for the extension of the loan of eighteen hundred and forty-one, and for an addition of five million of dollars thereto, and for allowing interest on treasury notes due,” except that no commissions shall be allowed or paid for the negotiation of such business; and except also that said stock so to be issued, shall be redeemably at a period not longer than ten years from the issue thereof.
Approved, March 3, 1843.
- ↑ Notes of the acts which have been passed authorizing the issuing of treasury notes, vol. 2, 766.