Chapter LXXXV. to repeal so much of any acts now in force as authorized a loan of money, or an issue of Treasury notes
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Chap. LXXXV.— An Act to repeal so much of any acts now in force as authorized a loan of money, or an issue of Treasury notes.March 3, 1817. [Obsolete.] *Be it enacted by the Senate and House of Representatives of the United Acts authorizing loans, &c. repealed. States of America, in Congress assembled,* That so much of any act, or 378FOURTEENTH CONGRESS. Sess. II. Ch. 86. 1817. acts, of Congress as authorizes the President of the United States to borrow money on the credit of the United States, and to cause certificates of stock to be issued for [money] so borrowed, be, and the same is hereby repealed; *Provided, always,* That nothing in this act contained shall be Proviso; as to securities for money heretofore borrowed. construed to invalidate, or in any way affect, any securities or claims for money heretofore borrowed under the said acts.
Sec. 2. *And be it further enacted,* That so much of any act, or acts, Acts authorizing treasury notes to be issued, repealed. Proviso; as to right of holders, &c. of Congress as authorizes the President of the United States to cause treasury notes to be prepared, signed and issued, be, and the same is hereby repealed; *Provided, always,* That nothing in this act contained shall be construed to affect the rights of any persons who may be the holders of treasury notes already issued.
Sec. 3. *And be it further enacted,* That so much of the act, entitled So much of the act mentioned, as authorizes a reissue of the treasury notes, repealed. Feb. 24, 1815, ch. 56. “An act to authorize the issuing of treasury notes for the service of the year one thousand eight hundred and fifteen,” as makes it lawful for the Secretary of the Treasury to cause the treasury notes, [in] cases therein mentioned, to be re-issued and applied anew to the same purposes, and in the same manner, as when originally issued, be, and the same is hereby repealed.
Sec. 4. *And be it further enacted,* That all treasury notes which are Treasury notes now, or which may become, the property of the United States, to be cancelled. now, or shall hereafter become, the property of the United States, (from reimbursement, purchase, exchange, or receipts, on account of taxes, duties, and demands,) shall be cancelled or destroyed at such times, and under such regulations and securities, as the commissioners of the sinking fund, with the approbation of the President, shall establish and determine.
Approved, March 3, 1817.