Acts Authorizing Loans, and Synopsis of same. Act of Feb. 8, 1861... Authorized a loan of $25,000,000, bearing interest at a rate not exceeding 6 per cent. per annum, and reimbursable within a period not beyond twenty years, nor less than ten years. This loan was made for the payment of the current expenses, and was to be awarded to the most favorable bidders. Act of March 2, 1861. Authorized a loan of $10,000,000, bearing interest at a rate not exceeding 6 per cent. per annum, and reimbursable after the expiration of ten years from July 1, 1861. In case proposals for the loan were not acceptable, authority was given to issue the whole amount in Treasury notes, bearing interest at a rate not exceeding 6 per cent. per annum. Authority was also given to substitute Treasury notes for the whole or any part of the loans for which the Secretary was by law authorized to contract and issue bonds at the time of the passage of this act, and such Treasury notes were to be made receivable in payment of all public dues, and redeemable at any time within two years from March 2, 1861. Act of March 2, 1861. Acts of July 17, 1861, and August 6, 1861. Authorized an issue, should the Secretary of the Treasury Act of Feb. 25, 1862.. Authorized the issue of $500,000,000, in 6 per cent. bonds, redeemable after five years, and payable twenty years from date, which may be exchanged for United States notes. Also on March 3, 1864. Authorized the issue of not over $11,000,000 additional of similar bonds, to meet subscriptions already made and paid for. June 30, 1864.......... Act of July 11, 1862.. Resolution of Congress, January 17, 1863. On hand, unsold in the United States or Europe...... Title. Loan of Feb. 8, 1861. 20 years After June 6 % per Par. $25,000,000 $18,415,000 $18,415,000 00 1, 1881. annum Oregon war 20 years After July 6% per Par. 2,800,000 1,090,850 1,016,000 00 1, 1881. annum Five- 5 or 20 After Ap'16 % per Par. 515,000,000 514,780,500 514,780,500 00 twenties. years. 30, 1867. annum U. States notes, new issue. None. Par. 450,000,000 371,783,597 00 Acts Authorizing Loans, and Synopsis of same. Act of March 3, 1863. A further issue of $150,000,000, in United States notes, for the purpose of converting the Treasury notes which may be issued under this act, and for no other purpose. And a further issue, if necessary, for the payment of the army and navy, and other creditors of the Government, of $150,000,000, in United States notes, which amount includes the $100,000,000 authorized by the joint resolution of Congress, Jan. 17, 1863. Act of April 12, 1866. Provided, That of United States notes not more than ten millions of dollars may be retired and canceled 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. Authorized a temporary loan of $25,000,000, in United States notes, for not less than thirty days, payable after ten days' notice, at 5 per cent. interest per annum. (This was increased to $100,000,000 by the following acts.) Act of Feb. 25, 1862.. March 17, 1862......... Authorized an increase of temporary loans of $25,000,000, July 11, 1862 Act of June 30, 1864.. Act of March 3, 1863. Act of June 30, 1864.. Act of March 3, 1863. Act of March 3, 1864. Act of March 1, 1862. Act of March 3, 1863, bearing interest at a rate not exceeding 5 per cent. per annum. Authorized a further increase of temporary loans of $50,000,000, making the whole amount authorized $100,000,000. Authorized the increase of temporary loans to not exceeding $150,000,000, at a rate not exceeding 6 per cent. per annum. Authorized a loan of $300,000,000 for this and $600,000,000 for the next fiscal year, for which could be issued bonds running not less than ten, nor more than forty years, principal and interest payable in coin, bearing interest at a rate not exceeding 6 per cent. per annum, payable in bonds not exceeding $100 annually, and on all others semi-annually, the whole amount of bonds, Treasury notes, and United States notes issued under this act not to exceed the sum of 900,000,000. And so much of this act as limits the loan to the current fiscal year is repealed by act of June 30, 1864, which also repeals the authority to borrow money conferred by section 1, except so far as it may affect $75,000,000 of bonds already advertised. And Treasury notes to the amount of $400 000,000, not exceeding three years to run, with interest at not over 6 per cent. per annum, principal and interest payable in lawful money, which may be made a legal-tender for their face value, excluding interest, or convertible into United States notes. Secretary may receive gold on deposit, and issue certificates therefor, in sums not less than twenty dollars. Authorizes the issue of bonds not exceeding $200,000,000, bearing date March 1, 1864, or any subsequent period, redeemable at the pleasure of the Government after any period not less than five years, and payable at any period not more than forty years from date, in coin, bearing interest not exceeding 6 per cent. yearly, payable on bonds not over $100 annually, and on all other bonds semiannually, in coin. Authorized an issue of certificates of indebtedness, payable Payable in lawful currency on those issued after that date. Ten-forties. Five ter date. annum On dem'd. Par. Not speci- 211,000,000 1,123,830 00 19,207,520 00 10 or 40 Afr Feb. 5% per Par. 200,000,000 172,770,100 171,409,350 00 years. 28, 1874. annum 5 or 20 Aft'r Oct. 6 % per Par. 3,882,500 00 36,000 00 of indebt edness, Postal cur rency. ter date. annum fied. Acts Authorizing Loans, and Synopsis of same. Act of March 3, 1863. Act of June 30, 1864.. Act of March 3, 1863. Authorized an issue not exceeding $50,000,000, in fractional currency (in lieu of postage or other stamps), exchangeable for United States notes in sums not less than three dollars, and receivable for any dues to the United States less than five dollars, except duties on imports. The whole amount issued, including postage and other stamps issued as currency, not to exceed $50,000,000. Authority was given to prepare it in the Treasury Department, under the supervision of the Secretary. Authorized an issue in lieu of the issue under acts of July 17, 1862, and March 3, 1863, the whole amount outstanding under all these acts not to exceed $50,000,000. Act of June 30, 1864.. Authorized an issue of $100,000,000 of bonds, redeemable at the pleasure of the Government, after any period not less than five nor more than thirty years, or, if deemed expedient, made payable at any period not more than forty years from date. And said bonds shall bear an annual interest not exceeding 6 per centum, payable semiannually in coin. And the Secretary of the Treasury may dispose of such bonds, or any part thereof, and of any bonds commonly known as five-twenties, remaining un sold, on such terms as he may deem most advisable, for lawful money of the United States, or, at his discretion, for Treasury notes, certificates of indebtedness, or certificates of deposit, issued under any act of Congress. Authorizes an issue of Treasury notes, not exceeding three years to run, interest at not over 6 per cent. per annum, principal and interest payable in lawful money. Also, authorizes the issue of, and in lieu of, an equal amount of bonds authorized by the first section, and as a part of said loan, not exceeding $200,000,000, in Treasury notes of any denomination not less than ten dollars, payable at any time not exceeding three years from date, or, if thought more expedient, redeemable at any time after three years from date, and bearing interest not exceeding the rate of 7 3-10 per centum, payable in lawful money at maturity, or at the discretion of the Secretary, semi-annually; and such of them as shall be made payable, principal and interest, at maturity, shall be a legal tender to the same extent as United States notes, for their face value, excluding interest, and may be paid to any creditor of the United States, at their face value, excluding interest, or to any creditor willing to receive them at par, including interest; and any Treasury notes issued under the authority of this act, may be made eonvertible, at the discretion of the Secretary of the Treasury, into any bonds issued under the authority of this act, and the Secretary may redeem, and cause to be canceled and destroyed any Treasury notes or United States notes heretofore issued under authority of previous acts of Congress, and substitute in lien thereof an equal amount of Treasury notes, such as are authorized by this act, or of other United States notes; nor shall any Treasury note bearing interest, issued under this act, be a legal tender, in payment or redemption of any notes issued by any bank, banking association, or banker, calcu lated or intended to circulate as money. Act of Jan. 28, 1865.. Whole amount may be issued in bonds or Treasury notes, at |