cent. bonds therefor, were authorized, and the authority contained in this section for the issue of 2 per cent. bonds was repealed by the Payne-Aldrich Tariff Act of Aug. 5, 1909, c. 6, § 39, post, § 6828.

§ 6827. (Act Dec. 21, 1905, c. 3, § 1.) Bonds authorized for construction of canal to have all rights and privileges of other two per cent. bonds of United States; tax on circulating notes of national banking associations based on deposit of such bonds. The two per cent. bonds of the United States authorized by section eight of the Act entitled "An act to provide for the construction of a canal connecting the waters of the Atlantic and Pacific oceans," approved June twenty-eight, nineteen hundred and two, shall have all the rights and privileges accorded by law to other two per cent. bonds of the United States. and every national banking association having on deposit, as provided by law, such bonds issued under the provisions of said section eight of said Act approved June twentyeight, nineteen hundred and two, to secure its circulating notes, shall pay to the Treasurer of the United States, in the months of January and July, a tax of one-fourth of one per cent each half year upon the average amount of such of its notes in circulation as are based upon the deposit of said two per cent bonds; and such taxes shall be in lieu of existing taxes on its notes in circulation imposed by section fifty-two hundred and fourteen of the Revised Statutes. (34 Stat. 5.)

This was the first section of an act entitled as supplemental to the Panama Canal Act of 1902, section of which is set forth ante, § 6826. Section 2 of the act made an appropriation for continuing the construction of the canal. It is omitted, as temporary merely.

Section 3 of the act, relating to reports and estimates of expenditures, and to the expenditure of appropriations for construction of the canal and expenses incident thereto, is omitted, as temporary merely.

Act June 28, 1902, c. 1302, § 8, mentioned in this section, is set forth ante, § 6826.

R. S. § 5214, also mentioned in this section, is set forth post, § 9779. Said R. S. § 5214, was amended by Act May 30, 1908, c. 229, § 9, and, as so amended, superseded so much of this section as related to the tax on circulating notes secured by the deposit of Panama Canal bonds. See notes to said R. S. § 5214, post, § 9779.

Provisions for the exchange of the 2 per cent. bonds bearing the circulation privilege, but against which no circulation is outstanding, for one-year notes of the United States bearing interest at 3 per cent. per annum to the amount of one-half of the bonds exchanged, and thirty-year three per cent. bonds without the circulation privilege for the balance of the bonds exchanged, were made by the Federal Reserve Act, Act Dec. 23, 1913, c. 6. § 18, post, § 9800.

§ 6828. (Act Aug. 5, 1909, c. 6, § 39.) Loans to defray expenditures for Panama Canal; issue of additional bonds; interest; exemption from taxation; disposal of bond; repeal in part of Act June 28, 1902, c. 1302, § 8.

The Secretary of the Treasury is hereby authorized to borrow on the credit of the United States from time to time, as the proceeds may be required to defray expenditures on account of the Panama Canal and to reimburse the Treasury for such expenditures already made and not covered by previous issues of bonds, the sum of two hundred and ninety million five hundred and sixty-nine thousand dollars (which sum together with the eighty-four million six hundred

and thirty-one thousand nine hundred dollars already borrowed upon issues of two per cent bonds under section eight of the Act of June twenty-eighth, nineteen hundred and two, equals the estimate of the Isthmian Canal Commission to cover the entire cost of the Canal from its inception to its completion), and to prepare and issue therefor coupon or registered bonds of the United States in such form as he may prescribe, and in denominations of one hundred dollars, five hundred dollars, and one thousand dollars, payable fifty years from the date of issue, and bearing interest payable quarterly in gold coin at a rate not exceeding three per centum per annum; and the bonds herein authorized shall be exempt from all taxes or duties of the United States, as well as from taxation in any form by or under State, municipal, or local authority: Provided, That said bonds may be disposed of by the Secretary of the Treasury at not less than par, under such regulations as he may prescribe, giving to all citizens of the United States. an equal opportunity to subscribe therefor, but no commissions shall be allowed or paid thereon; and a sum not exceeding one-tenth of one per centum of the amount of the bonds herein authorized is hereby appropriated, out of any money in the Treasury not otherwise appropriated, to pay the expenses of preparing, advertising, and issuing the same; and the authority contained in section eight of the Act of June twenty-eighth, nineteen hundred and two, for the issue of bonds bearing interest at two per centum per annum, is hereby repealed. (36 Stat. 117.)

This section was part of the Payne-Aldrich Tariff Act of 1909, cited above. This section, and section 40 of said Payne-Aldrich Act of 1909, which amended section 32 of the War Revenue Act of 1898 to read as set forth ante, § 6824, were not repealed by the Underwood Tariff Act of Oct. 3, 1913, c. 16, by a provision of section IV, S, thereof, ante, § 5316.

This section was part of the Payne-Aldrich Tariff Act of 1909, cited above. Act June 28, 1902, c. 1302, § 8, which was repealed in part by the proviso at the end of this section, and which authorized the previous issues of 2 per cent. bonds mentioned in this section, is set forth ante, § 6826.

The insertion, in bonds to be issued under this section, of a provision that they shall not be receivable as security for the issue of circulating notes to national banks, was authorized by Act March 2, 1911, c. 195, post, § 6829.

§ 6829. (Act March 2, 1911, c. 195.) Bonds for expenditures for Panama Canal may contain provision that they shall not be receivable as security for national bank circulating notes. That the Secretary of the Treasury be, and he is hereby, authorized to insert in the bonds to be issued by him under section thirtynine of an Act entitled "An Act to provide revenue, equalize duties, and encourage the industries of the United States and for other purposes," approved August fifth, nineteen hundred and nine, a provision that such bonds shall not be receivable by the Treasurer of the United States as security for the issue of circulating notes to national banks; and the bonds containing such provision shall not be receivable for that purpose. (36 Stat. 1013.)

This was an act entitled "An act to restrain the Secretary of the Treasury from receiving bonds issued to provide money for the building of the Panama

Canal as security for the issue of circulating notes to national banks, and for other purposes."

Act Aug. 5, 1909, c. 6, § 39, mentioned in this section, is set forth ante, § 6828.

§ 6830. (Act Feb. 4, 1910, c. 25, § 1.) Bonds and certificates of indebtedness to be payable in gold coin of present standard; denominations of bonds.

Any bonds and certificates of indebtedness of the United States hereafter issued shall be payable, principal and interest, in United States gold coin of the present standard of value; and that such bonds may be issued in such denominations as may be prescribed by the Secretary of the Treasury. (36 Stat. 192.)

This section and the section next following were part of an act entitled "An act prescribing certain conditions and provisions under which bonds and certificates of indebtedness of the United States may be issued, and for other purposes.'

Section 3 of said act repealed all acts or parts of acts in conflict therewith. § 6831. (Act Feb. 4, 1910, c. 25, § 2.) Certificates of indebtedness; exemption from taxation; appropriation for expenses of issue,

etc.

Any certificates of indebtedness hereafter issued shall be exempt from all taxes or duties of the United States, as well as from taxation in any form by or under state, municipal, or local authority; and that a sum not exceeding one-tenth of one per centum of the amount of any certificates of indebtedness issued is hereby appropriated, out of any money in the Treasury not otherwise appropriated, to pay the expenses of preparing, advertising, and issuing the same. (36 Stat. 192.)

(3060)

Sec.

6887. Contracts for public buildings
authorized within limit of cost
fixed, although appropriations
are in part only.

6888. Contracts limited to one year.
6889. Restriction on purchases of land.
6890. No transfer of contract.
6891. Material or supplies manufac-
tured by convict labor not to be
purchased by Post-Office De-
partment.

6892. Stipulation that no member of
Congress has an interest.

6893. Government agents and employés
not to be interested in Indian
contracts.

6894. Deposit of contracts.
6895. Contracts to be in writing.
6896. Requirements as to contracts in
writing, etc., not to apply to
leases, hire of vessels, etc., for
not exceeding three months, in
connection with river and har-
bor improvements.

6897. Oath to contract.
6898. Penalty for omitting returns.
6899. Instructions.

§ 6832. (R. S. § 3709.) Advertisements for proposals; exceptions. All purchases and contracts for supplies or services, in any of the Departments of the Government, except for personal services, shall be made by advertising a sufficient time previously for proposals respecting the same, when the public exigencies do not require the immediate delivery of the articles, or performance of the service. When immediate delivery or performance is required by the public exigency, the articles or service required may be procured by open purchase or contract, at the places and in the manner in which such articles are usually bought and sold, or such services engaged, between individuals.

Act March 2, 1861, c. 84, § 10, 12 Stat. 220.

This section was amended by Act Jan. 27, 1894, c. 22, 28 Stat. 33, by the addition of provisions that the advertisements for such proposals should be made by all the Executive Departments, including the Department of Labor, the United States Fish Commission, the Interstate Commerce Commission, the Smithsonian Institution, the Government Printing Office, the government of the District of Columbia, and the Superintendent of the State, War and Navy building, except for paper and materials for use in the Bureau of Engraving and Printing, on the same days, and should be opened at 2 p. m. on such days as the Secretary of the Treasury should designate, and that the proposals should be submitted to a board, consisting of one of the Assistant Secretaries of the Treasury and Interior Departments and one of the Assistant Postmasters-General, for their recommendation. The provisions thus added to this section were limited so as to apply only to advertisements for proposals for fuel, ice, stationery, and other miscellaneous supplies to be purchased at Washington for the use of the Executive Departments and other Government establishments named, by a provision of the