Chapter XXXIX. to amend an Act entitled “An Act to provide Ways and Means to support the Government,” approved March third, eighteen hundred and sixty-five
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CHAP. XXXIX.— An Act to amend an Act entitled “An Act to provide Ways and Means to support the Government,” approved March third, eighteen hundred and sixty-five.April 12, 1866.1865, ch. 77.Vol. xiii. p. 468. *Be it enacted by the Senate and House of Representatives of the UnitedThe Secretary of the Treasury may receive treasury notes, &c., in exchange for bonds, &c.; States of America in Congress assembled,* Sec. 1. That the act entitled “An act to provide ways and means to support the Government” approved March third, eighteen hundred and sixty-five, shall be extended and construed to authorize the Secretary of the Treasury, at his discretion, to receive any Treasury notes or other obligations issued under any act of Congress, whether bearing interest or not, in exchange for any descriptionmay dispose of the bonds in the United States or elsewhere; of bonds authorized by the act to which this is an amendment; and also to dispose of any description of bonds authorized by said act, either in the United States or elsewhere, to such an amount, in such manner, and atin what amount and at what rates. such rates as he may think advisable, for lawful money of the United32THIRTY-NINTH CONGRESS.
Sess. I. Ch. 39, 40, 41, 44. 1866. States or for any Treasury notes, certificates of indebtedness, or certificates of deposit, or other representatives of value, which have been or which may be issued under any act of Congress, the proceeds thereof to be used only for retiring Treasury notes or other obligations issued under any act of Congress; but, nothing herein contained shall be construed to authorizePublic debt not to be increased.Limit to amount of notes to be retired.Former act to be in force, except, &c. any increase of the public debt: *Provided,* That of United States notes not more than ten millions of dollars may be retired and cancelled within six months from the passage of this act, and thereafter not more than four millions of dollars in any one month: *And provided further,* That the act to which this is an amendment shall continue in full force in all its provisions, except as modified by this act.
Sec. 2. *And be it further enacted,* That the Secretary of the TreasurySecretary to report to Congress, &c. shall report to Congress at the commencement of the next session the amount of exchanges made or money borrowed under this act, and of whom, and on what terms; and also the amount and character of indebtedness retired under this act, and the act to which this is an amendment, with a detailed statement of the expense of making such loans and exchanges. Approved, April 12, 1866.