Chapter CXCVI. to authorize Payments in Stamps, and to prohibit Circulation of Notes of less Denomination than One Dollar
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Chap. CXCVI.— An Act to authorize Payments in Stamps, and to prohibit Circulation of Notes of less Denomination than One Dollar. July 17, 1862. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, * Postage and other stamps to be furnished in exchange for United States notes; That the Secretary of the Treasury be, and he is hereby directed to furnish to the Assistant Treasurers, and such designated depositaries of the United States as may be by him selected, in such sums as he may deem expedient, the postage and other stamps of the United States, to be exchanged by them, on application, for United States notes; and from and after the first day and may be received for dues to the United States less than $5.of August next such stamps shall be receivable in payment of all dues to the United States less than five dollars, and shall be received in exchange for United States notes when presented to any Assistant Treasurer or any designated depositary selected as aforesaid in sums not less than five dollars.
Sec. 2. Circulation, &c., of notes less than $1, as money, prohibited. *And be it further enacted, *That from and after the first day of August, eighteen hundred and sixty-two, no private corporation, banking association, firm, or individual shall make, issue, circulate, or pay any note, check, memorandum, token, or other obligation, for a less sum than one dollar, intended to circulate as money or to be received or used in lieu of lawful money of the United States; and every person so offending shall, on conviction thereof in any district Penalty.or circuit court of the United States, be punished by fine not exceeding five hundred dollars, or by imprisonment not exceeding six months, or by both, at the option of the court.
Approved, July 17, 1862.