Chapter XXXIII. *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.* February 25, 1862. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the Secretary
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Chap. XXXIII.— 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.* February 25, 1862. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the Secretary of the Treasury$150,000,000 treasury notes authorized. is hereby authorized to issue, on the credit of the United States, one hundred and fifty millions of dollars of United States notes, not bearing interest, payable to bearer, at the Treasury of the United States, and ofDenominations how payable, interest.$50,000,000, to be in lieu of demand notes. such denominations as he may deem expedient, not less than five dollars each:
Provided, however, That fifty millions of said notes shall be in lieu of the demand Treasury notes authorized to be issued by the act of July seventeen, eighteen hundred and sixty-one; which said demand notes shall be taken up as rapidly as practicable, and the notes herein provided*Ante*, p. 259. for substituted for them: And provided further, That the amount of the two kinds of notes together shall at no time exceed the sum of one hundred and fifty millions of dollars, and such notes herein authorized shallTreasury notes receivable in payment of dues to United States, except duties imports, and interest on federal bonds and notes which shall be paid in coin, and to be legal tender except for duties and interest.To be convertible in sums of not less than $50, &c, into United States 6 per cent stock, &c. be receivable in payment of all taxes, internal duties, excises, debts, and demands of every kind due to the United States, except duties on imports, and of all claims and demands against the United States of every kind whatsoever, except for interest upon bonds and notes, which shall be paid in coin, and shall also be lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest as aforesaid.
And any holders of said United States notes depositing any sum not less than fifty dollars, or some multiple of fifty dollars, with the Treasurer of the United States, or either of the Assistant Treasurers, shall receive in exchange therefor duplicate certificates of deposit, one of which may be transmitted to the Secretary of the Treasury, who shall thereupon issue to the holder an equal amount of bonds of the United States, coupon or registered, as may by said holder be desired, bearing interest at the rate of six per centum per annum, payable semiannually, and redeemable at the pleasure of the United States after five years, and payable twenty years from the date thereof! And such United States notes shall be received the same as coin, at their par value, in payment for any loans that may be hereafter sold or negotiated by the Secretary of the Treasury, and may be re-issued from time to time as the exigencies of the public interests shall require.
Sec. 2. *And be it further enacted*, That to enable the Secretary of theFunding treasury notes and floating debt, provisions for Treasury to fund the Treasury notes and floating debt of the United States, he is hereby authorized to issue, on the credit of the United States, coupon bonds, or registered bonds, to an amount not exceeding five346THIRTY-SEVENTH CONGRESS. Sess. II. Ch. 33. 1862. hundred millions of dollars, redeemable al the pleasure of the United States after five years, and payable twenty years from date, and bearing interest at the rate of six per centum per annum, payable semi-aunually.
And the bonds herein authorized shall be of such denominations, not less than fifty dollars, as may be determined upon by the Secretary of the Treasury. And the Secretary of the Treasury may dispose of such bonds at any time, at the market value thereof, for the coin of the United States, or for any of the Treasury notes that have been or may hereafter be issued under any former act of Congress, or for United States notes that United States stocks held within the United States, to be exempt from State taxes.may be issued under the provisions of this aet; and all stocks, bonds, and other securities of the United States held by individuals, corporations, or associations, within the United States, shall be exempt from taxation by or under State authority.
Sec. 3. *And be it further enacted*, That the United States notes and the Form of treasury notes and coupon or registered bonds,coupon or registered bonds authorized by this act shall he in such form as the Secretary of the Treasury may direct, and shall bear the written or engraved signatures of the Treasurer of the United States and the Register of the Treasury, and also, as evidence of lawful issue, the imprint of a copy of the seal of the Treasury Department, which imprint shall be made under the direction of the Secretary, after the said notes or bonds how signed, countersigned, and sealed.shall be received from the engravers and before they are issued; or the said notes and bonds shall be signed by the Treasurer of the United States, or for the Treasurer by such persons as may be specially appointed by the Secretary of the Treasury for that purpose, and shall be countersigned by the Register of the Treasury, or for the Register by such persons as the Secretary of the Treasury may specially appoint for Provisions of act of 1857, ch. i.
(vol. xi. p. 257,) revived; appropriation.that purpose; and all the provisions of the act entitled “An act to authorize the issue of Treasury notes,” approved the twenty-third day of December, eighteen hundred and fifty-seven, so far as they, can be applied to this act, and not inconsitent therewith, are hereby revived and reënacted; and the sum of three hundred thousand dollars is hereby appropriated, out of any money in the Treasury not otherwise appropriated, to enable the Secretary of the Treasury to carry this act into effect.
Sec. 4. *And be it further enacted*, That the Secretary of the Treasury may receive from any person or persons, or any corporation, United States notes on deposit for not less than thirty days, in sums of not less than one Notes in sums of not less than $100 may be received on deposit, &c.hundred dollars, with any of the Assistant Treasurers or designated depositaries of the United States authorized by the Secretary of the Treasury to receive them, who shall issue therefor certificates of deposit, made in such form as the Secretary of the Treasury shall prescribe, and said Interest on deposits.Deposits, how withdrawn.Interest to cease, &c.certificates of deposit shall bear interest at the rate of five per centum per annum; and any amount of United States notes so deposited may be withdrawn from deposit at any time after ten days’ notice on the return of said certificates: *Provided*, That the interest on all such deposits shall cease and determine al the pleasure of the Secretary of the Treasury:
Aggregate not to exceed, &c.*Post*, p. 370.*And provided further*, That the aggregate of such deposit shall at no time exceed the amount of twenty-five millions of dollars. Sec. 5. *And be it further enacted*, Duties on imports to be paid in coin or in demand notes.That all duties on imported goods shall be paid in coin, or in notes payable on demand heretofore authorized to be issued and by law receivable in payment, of public dues, and the coin so paid shall be set apart as a special fund, and shall be applied as follows:
First. Coin, how to be applied.To the payment in coin of the interest on the bonds and notes of the United States. Second. To the purchase or payment of one per centum of the entire debt of the United States, to be made within each fiscal year after the first day of July, eighteen hundred and sixty-two, which is to be set apart Sinking fund.as a sinking fund, and the interest of which shall in like manner be applied to the purchase or payment of the public debt as the Secretary of the Treasury shall from time to time direct.
THIRTY-SEVENTH CONGRESS. Sess. II. Ch. 33. 1862. 347 Third. The residue thereof to be paid into the Treasury of the United States. Sec. 6. *And be it further enacted*, That if any person or persons shallPenalty for forging, &c., treasury notes, &c., falsely make, forge, counterfeit, or alter, or cause or procure to be falsely made, forged, counterfeited, or altered, or shall willingly aid or assist in falsely making, forging, counterfeiting, or altering, any note, bond, coupon, or other security issued under the authority of this act, or heretofore issued underacts to authorize the issue of Treasury notes or bonds; or shall pass, utter, publish, or sell, or attempt to pass, utter, publish, or sell,for uttering on attempting to utter, &c., such notes, &c., or bring into the United States from any foreign place with intent to pass, utter, publish, or sell, or shall have or keep in possession or conceal, with intent to utter, publish, or sell, any such false, forged, counterfeited, or altered note, bond, coupon, or other security, with intent to defraud any body corporate or politic, or any other person or persons whatsoever, every person so offending shall be deemed guilty of felony, and shall, on conviction thereof, be punished by fine not exceeding five thousand dollars, and by imprisonment and confinement to hard labor not exceeding fifteen years, according to the aggravation of the offence.
Sec. 7. *And be it further enacted*, That if any person, having the custodyfor using, &c., plates, without authority, of any plate or plates from which any notes, bonds, coupons, or other securities mentioned in this act, for any part thereof, shall have been printed, or which shall have been prepared for the purpose of printing any such notes, bonds, coupons, or other securities, or any part thereof, shall use such plate or plates, or knowingly permit the same to be used for the purpose of printing any notes, bonds, coupons, or other securities, or any part thereof, except such as shall be printed for the use of the United States by order of the proper officer thereof; or if any person shall engrave, or cause or procure to be engraved, or shall aid in engraving,for engraving, &c., plates in similitude, &c., with intent, &c., any plate or plates in the likenes or similitude, of any plate or plates designed for the printing of any such notes, bonds, coupons, or other securities, or any part thereof, or shall vend or sell any such plate or plates, or shall bring into the United States from any foreign place anyfor selling such plates, or bringing them into the United States, with intent, &c., such plate or plates, with any other intent or for atty purpose, in either case, than that such plate or plates shall be used for printing of such notes, bonds, coupons, or other securities, or some part or parts thereof for the use of the United States, or shall have in his custody or possession any metallic plate engraved after the similitude of any plate from whichfor having plates in possession, with intent, &c., any such notes, bonds, coupons, or other securities, or any part or parts thereof, shall have been printed, with intent to use such plate or plates, or cause or suffer the same to be used, in forging or counterfeiting any such notes, bonds, coupons, or other securities, or any part or parts thereof, issued as aforesaid, or shall have in his custody or possession any blank note or notes, bond or bonds, coupon or coupons, or other security or securities,for having in possession blank notes, &c., with intent to sell, &c., engraved and printed after the similitude of any notes, bonds, coupons, or other securities, issued as aforesaid, with intent to sell or otherwise use the same; or if any person shall print, photograph, or in anyfor printing or photographing, &c., other manner execute or cause to be printed, photographed, or in any manner executed, or shall aid in printing, photographing, or executing any engraving, photograph, or other print, or impression, in the likeness or similitude of any such notes, bonds, coupons, or other securities, or any part or parts thereof, except for the use of the United States and by order of the proper officer thereof, or shall vend or sell any such engraving, photograph,for selling on bringing into the United States, with intent, &c., print, or other impression, except to the United States, or shall bring into the United States from any foreign place any such engraving, photograph, print, or other impression for the purpose of vending or selling the same, except by the direction of some proper officer of the United States, or shall have in his custody or possession any paper adapted tofor having paper for printing such notes, &c., with intent, &c. the making of such notes, bonds, coupons, or other securities, and similar to the paper upon which any such notes, bonds, coupons, or other securi-348THIRTY-SEVENTH CONGRESS.
Sess. II. Ch. 34. 1862.ties shall have been issued, with intent to use such paper, or cause or suffer the same to be used, in forging or counterfeiting any of the notes, bonds, coupons, or other securities, issued as aforesaid, every such person so offending shall be deemed guilty of a felony, and shall, on conviction thereof, be punished by fine not exceeding five thousand dollars, and by imprisonment and confinement, to hard labor not exceeding fifteen years, according to the aggravation of the offence.
Approved, February 25, 1862.