Full text of Legal Tender Act

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THIRTY-SEYENTH CONGRESS.

S ess.

II.

Ch. 32, 33.

1862.

345

supplying prisoners, and other supplies and services o f the Quartermas­
ter’s department, to thirtieth June, eighteen hundred and sixty-two, and
to be divided among the said several heads o f appropriation herein named,
as the exigencies o f the service may require, seventy-six millions five hun­
dred thousand dollars.
F or the armament o f fortifications, eight hundred and thirty-four thou- Armament of
sand dollars.
fortifications.
For the current expenses o f the ordnance service, two hundred thou- Ordnance
sand dollars.
service.
For ordnance, ordnance stores and supplies, including horse equipments
for all the mounted troops, one million nine hundred and twenty-four thou­
sand dollars.
For purchase o f arms for volunteers and regulars, and ordnance and Purchase of arms,
ordnance stores, seven millions five hundred thousand dollars.
Medical and
For the medical and hospital department, one million dollars.
hospital departF or amount required to refund to the States expenses incurred oQ “ refunding to
account of volunteers called into the field, fifteen million dollars.
states, &c.
A.PPKOVED, February 25, 1862.
Chap. X X X III. — An A ct to authorize the Issue o f United States Notes, andfo r the Re- I?ebruaiy25,1862.
demption or Funding thereof andfo r Funding the Floating Debt o f the United States.

Be it enacted by the Senate and House o f Representatives o f the United
States o f America in Congress assembled, That the Secretary of the Trea-

$150,000,000

sury is hereby authorized to. issue, on the credit o f the United States, one ^ o ^ e d t ^ 8
hundred and fifty millions o f dollars o f United States notes, not bearing
interest, payable to bearer, at the Treasury o f the United States, and o f Denominations,
such denominations as he may deem expedient, not less than five dollars how Payablei in~
each : Provided, however, That fifty millions o f said notes shall be in lieu $50,000,000, to
o f the demand Treasury notes authorized to be issued by the act o f July be in lieu of deseventeen, eighteen hundred and sixty-one; which said demand notes mand notesshall be taken up as rapidly as practicable, and the notes herein provided ^nte>P-259•
for substituted for them : And provided further, That the amount o f the
two kinds o f notes together shall at no time exceed the sum o f one hun­
dred and fifty millions o f dollars, and such notes herein authorized shall Treasury notes
be receivable in payment o f all taxes, internal duties, excises, debts, and receivable in paydemands o f every kind due to the United States, except duties on imports, n^ted States l°
and o f all claims and demands against the United States o f every kind e3^!ept; duties’ on
whatsoever, except for interest upon bonds and notes, which shall be paid imports, and inin coin, and shaU. also be lawful money and a legal tender in payment o f
an/notes*
all debts, public and private, within the United States, except duties on which shall be
imports and interest as aforesaid. A nd any holders o f said United States paid jn “ jir^n0.niJ
notes depositing any sum not less than fifty dollars, or some multiple o f fifty except fbr duties
dollars, with the Treasurer o f the United States, or either o f the Assistant and interest.
Treasurers, shall receive in exchange therefor duplicate certificates o f deof*'1”
posit, one o f which may be transmitted to the Secretary o f the Treasury, not less than $50,
who shall thereupon issue to the holder an equal amount of bonds o f the &c. into United
United States, coupon or registered, as may by said holder be desired, ®toac^ s £ J'er cent
bearing interest at the rate o f six per centum per annum, payable semi’
annually, 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 pay­
ment for any loans that may be hereafter sold or negotiated by the Secre­
tary o f the Treasury, and may be re-issued from time to time as the ex­
igencies of the public interests shall require.
S e c . 2. And be it further enacted, That to enable the Secretary o f the Funding trea-.
Treasury to fund the Treasury notes and floating debt o f the United goa'tin^debtl'1
States, he is hereby authorized to issue, on the eredit of the United provisions for
States, coupon bonds, or registered bonds, to an amount not exceeding five
v o l. x ii.

P

ub.

— 44

346

THIRTY-SEVENTH CONGRESS.

S ess.

II.

Ch . 33.

1862.

hundred millions o f dollars, redeemable at the pleasure o f the United States
after five years, and payable twenty years from date, and bearing interest
at the rate o f six per centum per annum, payable semi-annually. A nd
the bonds herein authorized shall be o f such denominations, not less than
fifty dollars, as may be determined upon by the Secretary o f the Trea­
sury. And the Secretary o f the Treasury may dispose o f such bonds at
any time, at the market value thereof, for the coin o f the United States,
or for any of tlie Treasury notes that have been or may hereafter be is­
sued under any former act o f Congress, or for United States notes that
may be issued under the provisions of this a ct; and all stocks, bonds, and
United States
stocks held with­ other securities o f the United States held by individuals, corporations, or
in the United
associations, within the United States, shall be exempt from taxation by
States, to be ex*
empt from State or under State authority.
S ec. 3. And be it further enacted, That the United States notes and the
taxes.
Form of trea­ coupon or registered bonds authorized by this act shall be in such form as
sury notes and
the Secretary o f the Treasury may direct, and shall bear the written or
coupon or regis­
engraved signatures o f the Treasurer o f the United States and the R eg­
tered bonds,
ister of the Treasury, and also, as evidence of lawful issue, the imprint
o f a copy o f the seal o f the Treasury Department, which imprint shall be
made under the direction o f the Secretary, after the said notes or bonds
shall be received from the engravers and before they are issued ; or the
how signed,
said notes and bonds shall be signed by the Treasurer o f the United
countersigned,
States, or for the Treasurer by such persons as may be specially ap­
and sealed.
pointed by the Secretary of the Treasury for that purpose, and shall be
countersigned by the Register o f the Treasury, or for the Register by
such persons as the Secretary o f the Treasury may specially appoint for
Provisions of that purpose j and all the provisions of the act entitled “ An act to au­
act of 1857, ch. i. thorize the issue of Treasury notes,” approved the twenty-third day o f
(vol. xi. p. 237,)
revived; appro­ December, eighteen hundred and fifty-seven, so far as they can be applied
priation.
to this act, and not inconsistent therewith, are hereby revived and reen­
acted ; and the sum o f three hundred thousand dollars is hereby appropriated^out o f any money in the Treasury not otherwise appropriated, to
enable the Secretary o f the Treasury to carry this act into effect.
S ec. 4. And be it further enacted, That the Secretary o f 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 o f not less than one
Notes in sums hundred dollars, with any of the Assistant Treasurers or designated de­
of not less
than $100 may positaries o f the United States authorized by the Secretary of the Trea­
be received oil
sury to receive them, who shall issue therefor certificates o f deposit, made
deposit, &c.
m such form as the Secretary o f the Treasury shall prescribe, and said
Interest on de- certificates o f deposit shall bear interest at the rate o f five per centum
posits.
per annum; and any amount o f United States notes so deposited may be
Deposits, how withdrawn from-deposit at any time after ten days’ notice on the return
w:intoest'to
8a'^ certificates : Provided, That the interest on all such deposits shall
cease, &c.
cease and determine at the pleasure o f the Secretary o f the Treasury :
Apgrcgate not And provided further, That the aggregate of such deposit shall at no time
k’ / ’flafTp.’ So.
excee(i the amount o f twenty-five millions of dollars.
Duties on imS ec. 5. And be it further enacted, That all duties on imported goods
^coinor*m d?
be paid in coin,or in notes payable on demand heretofore authorized
mand notes. " to be issued and by law receivable in payment o f public dues, and the
coin so paid shall be set apart as a special fund, and shall be applied as
follows:
Coin, how to
First. T o the payment in coin o f the interest on the bonds and notes
ie applied.
o f the United States.
Second. T o the purchase or payment o f 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 ap­
plied to the purchase or payment o f the public debt as the Secretary o f
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 o f the United
States.
S ec. 6. And le it further enacted. That if any person or persons shall ir^ m^,cty f^a^ury
falsely make, forge, counterfeit, or alter, or cause or procure to be falsely notes, &’c.,
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 o f this act, or heretofore
issued under acts to authorize the issue of Treasury notes or bonds; or
shall pass, utter, publish, dr sell, or attempt to pass, utter, publish, or sell, for uttering or
or bring into the United States from any foreign place with intent to pass,
such °
utter, publish, or sell, or shall have or keep in possession or conceal, with n<fftes, &c.,
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 o f felony, and shall, on
conviction thereof, be punished by fine not exceeding five thousand dol­
lars, and by imprisonment and confinement to hard labor not exceeding
fifteen years, according to the aggravation o f the offence.
S e c . 7 . And be it further enacted, That if any person, having the cus- for using, S ec . ,
tody o f any plate or plates from which any notes, bonds, coupons, or other authority,lth°Ut
securities mentioned in this act, or any part thereof, shall have been
printed, or which shall have been prepared for the purpose o f 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 o f printing any notes, bonds, coupons, or other securities,
or any part thereof, except such as shail be printed for the use o f the
United States by order o f the proper officer thereof; or if any person
shall engrave, or cause or procure to be engraved, or shall aid in engrav- for engraving,
ing, any plate or plates in the. likeness or similitude o f any plate or plates
&c.
designed for the printing o f any such notes, bonds, coupons, or other with intent, &c.,
securities, or any part thereof, or shall vend or sell any such plate or for selling such
plates, or shall bring into the United States from any foreign place any
tfa
such plate or plates, with any other intent or for any purpose, in either United States,
case, than that such plate or plates shall be used for printing o f such with intent, &c.,
notes, bonds, coupons, or other securities, or some part or parts thereof,
for the use o f the United States, or shall have in his custody or possession for having
any metallic plate engraved after the similitude o f any plate from which P1atc3 in posses*
.
*
.
?
.. .
* L
.
, sion. with intent,
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, engraved and printed after the similitude o f any notes, bonds, cou- notes, &c., with
pons, or other securities, issued as aforesaid, with intent to sell or other- intent to sell, &c.,
wise use the same; or if any person shall print, photograph, or in any for printing or
other manner execute or cause to be printed, photographed, or in any ]^‘° ograp mg’
manner executed, or shall aid in printing, photographing, or executing any
engraving, photograph, or other print, or impression, in the likeness or
similitude o f any such notes, bonds, coupons, or other securities, or any
part or parts thereof, except for the use o f the United States and by order
o f the proper officer thereof, or shall vend or sell any such engraving, pho- brf” e” ^ f0
tograph, print, or other impression, except to the United States, or shall
states,
bring into the United States from any foreign place any such engraving, with intent, &c.,
photograph, print, or other impression for the purpose o f vending or selling
»he same, except by the direction o f some proper officer o f the United
States, or shall have in his custody or possession any paper adapted to for having pathe making o f such notes, bonds, coupons, or other securities, and similar such°notes"&cf,
to the paper upon which any such notes, bonds, coupons, or other securi- with intent, &c

848

THIRTY-SEVENTH CONGRESS.

S ess .

II.

Ch . 34.

1862.

ties shall have been issued, with intent to use such paper, or cause or suf­
fer the same to be used, in forging or counterfeiting any o f the notes,
bonds, coupons, or other securities, issued as aforesaid, every such person
so offending shall be deemed guilty o f 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 o f the offence.
A p p r o v e d , February 25, 1862.

March 1, 1861
——------------- -

X X X IV . — An Act making Appropriations fo r sundry Civil Expenses o f the
Government fo r the Year ending the thirtieth o f June, eighteen hundred and sixty-three,
and additional Appropriationsfo r the Year ending the thirtieth o f June, eighteen hundred
and sixtij-tuo.

C hap.

Be it enacted by the Senate and Home o f Representatives o f the United
Civil expenses States o f America in Congress assembled, That the following suras be,
appropriation.
an(j t[ie same are hereby appropriated, for the objects hereafter expressed,
for the fiscal year ending the thirtieth June, eighteen hundred and sixtythree, viz:

Survey o f the Coast. For the survey o f the Atlantic and G ulf coasts
o f the United States, (including compensation o f civilians engaged in
the work, and excluding pay and emoluments o f officers of the army and
navy, and petty officers and men o f the navy employed on the work,)
one hundred and seventy-eight thousand dollars.
For continuing the survey o f the western coast o f the United States,
(including compensation of civilians engaged in the work,) one hundred
thousand dollars.
For continuing the survey o f the Florida reefs and keys, (including
compensation o f civilians engaged in the work, and excluding pay and
emoluments o f officers of the army and navy, and petty officers and
men o f the navy employed on the work,) eleven thousand dollars.
For publishing the observations made in the progress o f the survey
o f the coast o f the United States, (including compensation o f civilians
employed in the work,) five thousand dollars.
For repairs o f steamers and surveying schooners used in the coast
survey, five thousand dollars.
Deficiency for
T o supply deficiency in the fund for the relief o f sick and disabled
^Marine hos i- seameni two hundred thousand dollars: Provided, That the Secretary
tais may°be
o f the Treasury is hereby authorized to rent either o f the several marine
leased to cities hospitals to the proper authorities o f the cities, towns, or counties in
and towns.
which said hospitals are located, and contract with such authorities for
the relief o f the sick and disabled seamen entitled to relief under the
1802, ch. 81. act o f third o f May, eighteen hundred and two, and in cases o f infecYol. ii. p. 192. tious diseases to make such regulations for their relief as he deems
expedierit.
Miscellaneous.
For the discharge o f such miscellaneous claims, not otherwise pro­
vided for, as shall be admitted in due course o f settlement at the Treas­
ury, five thousand dollars.
Lighthouse esLighthouse Establishment. — F or the Atlantic, Gulf, and Lake coasts,
tablishment.
■ ,

Coast survey.

Viz:

For supplying the lighthouses and beacon-lights with oil, glass chim­
neys, wicks, and other necessary expenses o f the same, repairing and
keeping in repair the lighting apparatus, one hundred and fifty-four
thousand six hundred and ninety-eight dollars and eighty cents.
For repairs and incidental expenses, refitting and improving all the
lighthouses and buildings connected therewith, one hundred and two
thousand two hundred dollars.
For salaries o f five hundred and ninety-six keepers of lighthouses