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Price

Length of When re-Rates of at Amount au-Amount is-1 Amount deemable. interest. which sued. outstanding.

loan.

thorized.

[blocks in formation]

3 years.

On demand None.

Par.

60,000,000 00 60,000,000 00

76,732 50

Aug. 19 and 7 3-10 p. c. Par. 140,094,750 00 140,094,750 00
[Oct. 1, 1864.]

19,200 00

loan of $250,000,000, part of which was to be in Treasury notes, with interest at 73-10 per centum per annum, payable three years after date.

Five-twenties of 1862.... The act of February 25, 1862, (12 Statutes, 345,) authorized a loan of $500,000,000, for the purpose of funding the Treasury notes and floating debt of the United States, and the issue of bonds therefor, with interest at 6 per centum per annum. These bonds were redeemable after five and payable twenty years from date. The act of March 3, 1864, (13 Statutes, 13,) authorized an additional issue of $11,000,000 of bonds to persons who subscribed for the loan on or before January 21, 1864. The act of January 28, 1865, (13 Statutes, 425,) authorized an additional issue of $4,000,000 of these bonds and their sale in the United States or Europe.

Legal tender notes....... The act of February 25, 1862, (12 Statutes, 345,) authorized the issue of $150,000,000 United States notes, not bearing interest, payable to bearer, at the Treasury of the United States, and of such denominations, not less than five dollars, as the Secretary of the Treasury might deem expedient, $50,000,000 to be in lieu of demand notes authorized by the act of July 17, 1861,-these notes to be a legal tender. The act of July 11, 1862, (12 Statutes, 532,) authorized an additional issue of $150,000,000 United States Treasury notes, of such denominations as the Secretary of the Treasury might deem expedient; but no such note should be for a fractional part of a dollar, and not more than $35,000,000 of a lower denomination than five dollars ;-these notes to be a legal tender. The act of March 3, 1863, (12 Statutes, 710,) authorized an additional issue of 8150,000,000 United States notes, payable to bearer, of such denominations, not less than one dollar, as the Secretary of the Treasury might prescribe; which notes were made a legal tender. The same act limited the time at which Treasury notes might be exchanged for United States bonds to July 1, 1863. The amount of notes authorized by this act were to be in lieu of $100,000,000 authorized by the resolution of January 17, 1863, (12 Statutes, 822.)

Temporary loan............ The act of February 25, 1862, (12 Statutes, 346,) authorized

temporary loan deposits of $25,000,000 for not less than thirty days, with interest at 5 per centum per annum, payable after ten days' notice. The act of March 17, 1862, (12 Statutes, 370,) authorized the increase of temporary loan deposits to $50,000,000. The act of July 11, 1862, (12 Statutes, 532,) authorized a further increase of temporary loan deposits to $100,000,000. The act of June 30, 1864, (13 Statutes, 218,) authorized a further increase of temporary loan deposits to not exceeding $150,000,000, and an increase of the rate of interest to not exceeding 6 per centum per annum, or a decrease of the rate of interest on ten days' notice, as the public interest might require. Certificates of indebt-The act of March 1, 1862, (12 Statutes, 352,) authorized the edness. issue of certificates of indebtedness to public creditors who might elect to receive them, to bear interest at the rate of 6 per centum per annum, and payable one year from date, or earlier, at the option of the Government. The act of May 17, 1862, (12 Statutes, 370,) authorized the issue of these certificates in payment of disbursing officers' checks. The act of March 3, 1863, (12 Statutes, 710,) made the interest payable in lawful money.

Fractional currency.... The act of July 17, 1862, (12 Statutes, 592,) authorized the use of postal and other stamps as currency, and made them receivable in payment of all dues to the United

Price

Length of When

loan.

re-Rates of at Amount au- Amount is- Amount deemable. interest. which thorized, sued. outstanding.

sold.

[blocks in formation]

Par. 50,000,000 00 223,625,663 45 45,881,295 67

Loan of 1863.......

States less than five dollars. The 4th section of the act of March 3, 1863, (12 Statutes, 711,) authorized the issue of fractional notes in lieu of postal and other stamps and postal currency; made them exchangeable in sums not less than three dollars for United States notes, and receivable for postage and revenue stamps, and in payment of dues to the United States, except duties on imports, less than five dollars; and limited the amouut to $50,000,000. The 5th section of the act of June 30, 1864, (13 Statutes, 220,) authorized an issue of $50,000,000 in fractional currency, and provided that the whole amount of these notes outstanding at any one time should not exceed this sum.

The act of March 3, 1863, (12 Statutes, 709,) authorized a loan of $900,000,000, and the issue of bonds, with interest at not exceeding 6 per centum per annum, and redeemable in not less than ten nor more than forty years, principal and interest payable in coin. The act of June 30, 1864, (13 Statutes, 219,) repeals so much of the preceding act as limits the authority thereunder to the current fiscal year, and also repeals the authority altogether except as relates to $75,000,000 of bonds already advertised for.

One-year notes of 1863.. The act of March 3, 1863, (12 Statutes, 710,) authorized the

issue of $400,000,000 Treasury notes, with interest at not exceeding 6 per centum per annum, redeemable in not more than three years, principal and interest payable in lawful money, to be a legal tender for their face value. Two-year notes of 1863. The act of March 3, 1863, (12 Statutes, 710,) authorized the

issue of $100,000,000 Treasury notes, with interest at not exceeding 6 per centum per annum, redeemable in not more than three years, principal and interest payable in lawful money, to be a legal tender for their face value.

Coin certificates........... The 5th section of the act of March 3, 1863, (12 Statutes,

Compound interest notes.

It

711,) authorized the deposit of gold coin and bullion with the Treasurer or any assistant treasurer, in sums not less than twenty dollars, and the issue of certificates therefor in denominations the same as United States notes; also authorized the issue of these certificates in payment of interest on the public debt. limits the amount of them to not more than 20 per centum of the amount of coin and bullion in the Treasury, and directs their receipt in payment for duties on imports. The act of March 3, 1863, (12 Statutes, 709,) authorized the issue of $100,000,000 Treasury notes, with interest at not exceeding 6 per centum per annum, in lawful money, payable not more than three years from date, and to be a legal tender for their face value. The act of June 30, 1864, (13 Statutes, 218,) authorized the issue of $200,000,000 Treasury notes, of any denomination not less than ten dollars, payable not more than three years from date, or redeemable at any time after three years, with interest at not exceeding 7 3-10 per centum, payable in lawful money at maturity, and made them a legal tender for their face value to the same extent as United States notes; $177,045,770 of the amount issued was in redemption of 5 per cent. notes.

Ten-forties of 1864......... The act of March 3, 1864, (13 Statutes, 13,) authorized the issue of $200,000,000 bonds, at not exceeding 6 per centum per annum, redeemable after five and payable not more than forty years from date, in coin.

Five-twenties of March The act of March 3, 1864, (13 Statutes, 13,) authorized the 1864. issue of $200,000,000 bonds, at not exceeding 6 per centum

Price

loan.

Length of When re-Rates of at Amount au-Amount is- Amount deemable. interest. which thorized. sued. outstanding.

sold.

17 years.

July 1, 1881.6 per cent. Aver- | $75,000,000 00 $75,000,000 00] $75,000,000 00

[blocks in formation]

3 years.

June 10, 1867 6 per cent.. Par. 400,000,000 00| 266,595,440 00,
& May 15, compound

415,210 00

1868.

10 or 40 yrs March 1, 5 per cent. Par to 200,000,000 00 196,117,300 00 194,567,300 00 1874.

7 p. c.
prem.

5 or 20 yrs. Nov. 1, 1869.6 per cent. Par.

3,882,500 00

946,600 00

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