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of a State whose inhabitants are so declared in a state of insurrection, found at sea, or in any port of the rest of the United States, shall be forfeited to the United States.

SEC. 7. [The navy may be used to execute the revenue laws.] SEC. 8. [Penalties may be mitigated or remitted.]

SEC. 9. And be it further enacted, That proceedings on seizures for forfeitures under this act may be pursued in the courts of the United States in any district into which the property so seized may be taken and proceedings instituted; and such courts shall have and entertain as full jurisdiction over the same as if the seizure was made in that district.

APPROVED, July 13, 1861.

No. 4.

Act for a National Loan

July 17, 1861

IN his message of July 4, 1861, Lincoln asked Congress for "at least" 400,000 men and $400,000,000 as "the legal means for making this contest a short and a decisive one." The Secretary of the Treasury, Chase, in his report of the same date, recommended loans to the aggregate amount of $250,000,000, and submitted the draft of a bill for that purpose. A bill to authorize a national loan was introduced in the House by Thaddeus Stevens of Pennsylvania, from the Committee of Ways and Means, July 9, and on the following day passed by a vote of 153 to 5. The Senate made a number of amendments, all of which were concurred in by the House, and on the 17th the act was approved. REFERENCES. Text in U.S. Statutes at Large, XII, 259–261. For the proceedings see the House and Senate Journals and the Cong. Globe, 37th Cong., Ist Sess. Chase's report of July 4 is in the Globe, Appendix. On the condition of the treasury see House Misc. Doc. 20, 36th Cong., 2d Sess. On the general subject see Dewey, Financial History of the United States, chap. 13, and references there given.

An Act to authorize a National Loan and for other Purposes.

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Be it enacted That the Secretary of the Treasury be, and he is hereby, authorized to borrow on the credit of the

United States, within twelve months from the passage of this act, a sum not exceeding two hundred and fifty millions of dollars, or so much thereof as he may deem necessary for the public service, for which he is authorized to issue coupon bonds, or registered bonds, or treasury notes, in such proportions of each as he may deem advisable; the bonds to bear interest not exceeding seven per centum per annum, payable semi-annually, irredeemable for twenty years, and after that period redeemable at the pleasure of the United States; and the treasury notes to be of any denomination fixed by the Secretary of the Treasury, not less than fifty dollars, and to be payable three years after date, with interest at the rate of seven and three tenths per centum per annum, payable semi-annually. And the Secretary of the Treasury may also issue in exchange for coin, and as part of the above loan, or may pay for salaries or other dues from the United States, treasury notes of a less denomination than fifty dollars, not bearing interest, but payable on demand by the Assistant Treasurers of the United States at Philadelphia, New York, or Boston, or treasury notes bearing interest at the rate of three and sixty-five hundredths per centum, payable in one year from date, and exchangeable at any time for treasury notes for fifty dollars, and upwards, issuable under the authority of this act, and bearing interest as specified above: Provided, That no exchange of such notes in any less amount than one hundred dollars shall be made at any one time: And provided further, That no treasury notes shall be issued of a less denomination than ten dollars, and that the whole amount of treasury notes, not bearing interest, issued under the authority of this act, shall not exceed fifty millions of dollars.

SEC. 2. [Notes and bonds, how signed, how transferable, etc.] SEC. 3. [Books to be opened for subscription for treasury notes for $50 and over, etc.] And the Secretary of the Treasury is also authorized, if he shall deem it expedient, before opening books of subscription as above provided, to exchange for coin or pay for public dues or for treasury notes of the issue of twenty-third of December, eighteen hundred and

fifty-seven, and falling due on the thirtieth of June, eighteen hundred and sixty-one, or for treasury notes issued and taken in exchange for such notes, any amount of said treasury notes for fifty dollars or upwards not exceeding one hundred millions of dollars.

SEC. 4. [Proposals for loan to be published; most favorable offers to be accepted, but at not less than par.]

SEC. 5. And be it further enacted, That the Secretary of the Treasury may, if he deem it advisable, negotiate any portion of said loan, not exceeding one hundred millions of dollars, in any foreign country and payable at any designated place either in the United States or in Europe, and may issue registered or coupon bonds for the amount thus negotiated agreeably to the provisions of this act, bearing interest payable semi-annually, either in the United States or at any designated place in Europe; . . .

SEC. 6. And be it further enacted, That whenever any treasury notes of a denomination less than fifty dollars, authorized to be issued by this act, shall have been redeemed, the Secretary of the Treasury may re-issue the same, or may cancel them and issue new notes to an equal amount: Provided, That the aggregate amount of bonds and treasury notes issued under the foregoing provisions of this act shall never exceed the full amount authorized by the first section of this act; and the power to issue, or re-issue such notes shall cease and determine after the thirty-first of December, eighteen hundred and sixty-two.

SEC. 7. And be it further enacted, That the Secretary of the Treasury is hereby authorized, whenever he shall deem it expedient, to issue in exchange for coin, or in payment for public dues, treasury notes of any of the denominations hereinbefore specified, bearing interest not exceeding six per centum per annum, and payable at any time not exceeding twelve months from date, provided that the amount of notes so issued, or paid, shall at no time exceed twenty millions of dollars.

SEC. 8. [The Secretary of the Treasury to make report to Congress of operations under the act.]

SEC. 9. And be it further enacted, That the faith of the United States is hereby solemnly pledged for the payment of the interest and redemption of the principal of the loan authorized by this act.

SEC. 10. And be it further enacted, That all the provisions of the act entitled "An act to authorize the issue of treasury notes," approved the twenty-third day of December, eighteen hundred and fifty-seven, so far as the same can or may be applied to the provisions of this act, and not inconsistent therewith, are hereby revived or re-enacted.

SEC. 11. [Appropriation of $200,000 for expenses under the act.]

APPROVED, July 17, 1861.

No. 5. Act authorizing the Employment of

Volunteers

July 22, 1861

A BILL to authorize the employment of volunteers, in accordance with the recommendation of President Lincoln in his message of July 4, 1861, was introduced in the Senate, July 6, by Henry Wilson of Massachusetts, and passed that house on the 10th by a vote of 34 to 4. On the 12th the action was reconsidered, and the bill with further amendments was again passed by a vote of 35 to 4. The passage of a substitute bill by the House caused a reference of the matter to a conference committee, whose report was agreed to by the two houses on the 18th. The discussion in each house had to do mainly with the details of organization of the volunteers provided for by the bill.

REFERENCES. Text in U.S. Statutes at Large, XII, 268-271. For the debates see the House and Senate Journals and Cong. Globe, 37th Cong., Ist Sess. On the efficiency of volunteers and the condition of the militia see House Exec. Doc. 54 and House Report 58, 36th Cong., 2d Sess., and House Report 1, 37th Cong., 1st Sess. A summary view of early military legislation, Union and Confederate, is given in McPherson, History of the Rebellion, 115-121.

An Act to authorize the Employment of Volunteers to aid in enforcing the Laws and protecting Public Property.

WHEREAS, certain of the forts, arsenals, custom-houses, navy yards, and other property of the United States have been

seized, and other violations of law have been committed and are threatened by organized bodies of men in several of the States, and a conspiracy has been entered into to overthrow the Government of the United States: Therefore,

Be it enacted . . ., That the President be, and he is hereby, authorized to accept the services of volunteers, either as cavalry, infantry, or artillery, in such numbers, not exceeding five hundred thousand, as he may deem necessary, for the purpose of repelling invasion, suppressing insurrection, enforcing the laws, and preserving and protecting the public property: Provided, That the services of the volunteers shall be for such time as the President may direct, not exceeding three years nor less than six months,1 and they shall be disbanded at the end of the war. And all provisions of law applicable to three years' volunteers shall apply to two years' volunteers, and to all volunteers who have been, or may be, accepted into the service of the United States, for a period not less than six months, in the same manner as if such volunteers were specially named. Before receiving into service any number of volunteers exceeding those now called for and accepted, the President shall, from time to time, issue his proclamation, stating the number desired, either as cavalry, infantry, or artillery, and the States from which they are to be furnished, having reference, in any such requisition, to the number then in service from the several States, and to the exigencies of the service at the time, and equalizing, as far as practicable, the number furnished by the several States, according to Federal population.2

SEC. 2. And be it further enacted, That the said volunteers shall be subject to the rules and regulations governing the army of the United States, and that they shall be formed, by the President, into regiments of infantry, with the exception of such

1 A supplementary act of July 25, 1861, provided that volunteers should “be mustered in for ' during the war.'

2 An act of July 31, 1861, provided that the President, in accepting and organizing volunteers under this act, " may accept the service of such volunteers without previous proclamation, and in such numbers from any State or States as, in his discretion, the public service may require."

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