COMMERCIAL REGULATIONS.

1. LOAN AND TREASURY NOTE BILL. 2. Bill authorizinG CERTIFICATES OF INDEBTEDNESS. 8. SUPPLEMENTAL ACT AS TO CERTIFICATES OF INDEBTEDNESS. 4. OFFICIAL ORDER AS TO CERTIFICATES OF INDEBTEDNESS. 5. TRADE ON THE CUMBERLAND AND TENNESSEE-ORder of the Secretary of the TREASURY. 6. CONVENTION BETWEEN UNITED STATES AND CHINA for the Adjustment of CLAIMS. 7. RIGHTS OF BELLIGERENTS IN BRITISH PORTS-LETTER OF INSTRUCTIONS FROM EARL RUSSELL.

LOAN AND TREASURY NOTE BILL.

THE following is a copy of the Loan and Treasury bill passed by Congress, and approved by the President on the 25th February, 1862:

AN ACT TO AUTHORIZE THE ISSUE OF UNITED STATES NOTES, AND FOR THE REDEMPTION OR FUNDING THereof, and FOR FUNDING THE FLOATING DEBT OF THE UNITED STATES.

Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, That the Secretary of the Treasury is hereby authorized to issue, on the credit of the United States, $150,000,000 of United States notes, not bearing interest, payable to bearer at the Treasury of the United States, and of such denominations as he may deem expedient, not less than $5 each: Provided, however, That fifty millions of said notes shall be in lieu of the demand Treasury notes, authorized to be issued by the act of July 17, 1861; which said demand notes shall be taken up as rapidly as practicable, and the notes herein provided for substituted for them; And provided further, That the amount of the two kinds of notes together shall at no time exceed the sum of $150,000,000, and such notes herein authorized shall be receivable in payment of all taxes, internal duties, excises, debts and demands of every kind due to the United States, except duties on imports, and of all claims and demands against the United States of every kind whatsoever, except for interest upon bonds and notes, which shall be paid in coin, and shall also be lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest as aforesaid. And any holders of said United States notes depositing any sum not less than $50, or some multiple of $50, with the Treasurer of the United States, or either of the Assistant Treasurers, shall receive in exchange therefor duplicate certificates of deposit, one of which may be transmitted to the Secretary of the Treasury, who shall thereupon issue to the holder an equal amount of bonds of the United States, coupon or registered, as may by said holder be desired, bearing interest at the rate of 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 payment for any loans that may be hereafter sold or negotiated by the Secretary of the Treasury, and may be re-issued from time to time, as the exigencies of the public interests shall require.

SEC. 2. And be it further enacted, That to enable the Secretary of the Treasury to fund the Treasury notes and floating debt of the United States, he is hereby authorized to issue, on the credit of the United States, coupon bonds or registered bonds, to an amount not exceeding $500,000,000, redeemable at the pleasure of the United States after five years, and payable twenty years from date, and bearing interest at the rate of six per centum per annum, and payable semi-annually. And the bonds herein authorized shall be of such denominations, not less than $50, as may be determined upon by the Secretary of the Treasury. And the Secretary of the Treasury may dispose of such bonds, at any time, at the market value thereof, for the coin of the United States, or for any of the Treasury notes that have been or may hereafter be issued under any former act of Congress, or for United States notes that may be issued under the provisions of this act; and all stocks, bonds and other securities of the United States held by individuals, corporations or associations, within the United States, shall be exempt from taxation by or under State authority.

SEC. 3. And be it further enacted, That the United States notes and the coupon or registered bonds authorized by this act shall be in such form as the Secretary of the Treasury may direct, and shall bear the written or engraved signatures of the Treasurer of the United States and the Register of the Treasury, and also, as evidence of lawful issue, the imprint of a copy of the seal of the Treasury Department, which imprint shall be made under the direction of the Secretary, after the said notes or bonds shall be received from the engravers and before they are issued; or the said notes and bonds shall be signed by the Treasurer of the United States, or for the Treasurer by such persons as may be specially appointed by the Secretary of the Treasury for that purpose, and shall be countersigned by the Register of the Treasury, or for the Register by such persons as the Secretary of the Treasury may specially appoint for that purpose. And 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 they can be applied to this act, and not inconsistent therewith, are hereby revived and re-enacted; and the sum of $300,000 is hereby appropriated, out of any money in the Treasury not otherwise appropriated, to enable the Secretary of the Treasury to carry this act into effect.

SEC. 4. And be it further enacted, That the Secretary of 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 of not less than $100, with any of the Assistant Treasurers or designated depositories of the United States authorized by the Secretary of the Treasury to receive them, who shall issue therefor certificates of deposit, made in such form as the Secretary of the Treasury shall prescribe, and said certificates of deposit shall bear interest at the rate of five per centum per annum; and any amount of United States notes so deposited may be withdrawn from deposit at any time after ten days' notice, on the return of said certificates: Provided, That the interest on all such deposits shall cease and determine at the pleasure of the Secretary of the Treasury: And provided further, That the aggregate of such deposit shall at no time exceed the amount of $25,000,000.

SEC. 5. And be it further enacted, That all duties on imported goods

shall be paid in coin, or in notes payable on demand heretofore authorized to be issued, and by law receivable in payment of public dues, and the coin so paid shall be set apart as a special fund, and shall be applied as follows:

First. To the payment, in coin, of the interest on the bonds and notes of the United States.

Second.-To the purchase or payment of one per centum of the entire debt of the United States, to be made within each fiscal year after the first day of July, 1862, which is to be set apart as a sinking fund, and the interest of which shall, in like manner, be applied to the purchase or payment of the public debt, as the Secretary of the Treasury shall from time to time direct.

Third. The residue thereof to be paid into the Treasury of the United States.

SECS. 6 and 7 provide simply the penalty for fraud and counterfeitinga fine not exceeding $5,000, and imprisonment not exceeding fifteen years.

THE BILL AUTHORIZING CERTIFICATES OF INDEBTEDNESS. The following is a copy of the bill as passed and approved March 1,

1862:

AN ACT TO AUTHORIZE THE SECRETARY OF THE TREASURY TO ISSUE CERTIFICATES OF INDEBTEDNESS TO PUBLIC CREDITORS.

Be it enacted, &c., That the Secretary of the Treasury be and he is hereby authorized to cause to be issued to any public creditor who may be desirous to receive the same, upon requisition of the head of the proper department, in satisfaction of audited and settled demands against the United States, certificates for the whole amount due, or parts thereof, not less than one thousand dollars, signed by the Treasurer of the United States, and countersigned as may be directed by the Secretary of the Treasury, which certificates shall be payable in one year from date, or earlier, at the option of the government, and shall bear interest at the rate of six per centum.

SUPPLEMENTAL TREASURY ACT.

The following is an official copy of the act supplemental to the Treasury act of March 1st, adopted by Congress, and approved by the President on the 16th March, 1862:

Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, That the Secretary of the Treasury may purchase coin with any of the bonds or notes of the United States, authorized by law, at such rates and upon such terms as he may deem most advantageous to the public interest; and may issue, under such rules and regulations as he may prescribe, certificates of indebtedness, such as are authorized by an act entitled "An act to authorize the Secretary of the Treasury to issue certificates of indebtedness to public creditors," approved March 1, 1862, to such creditors as may desire to

receive the same, in discharge of checks drawn by disbursing officers upon sums placed to their credit on the books of the Treasurer, upon requisitions of the proper departments, as well as in discharge of audited and settled accounts, as provided by same act.

SEC. 2. And be it further enacted, That the demand notes authorized by the act of July 17, 1861, and by the act of February 12, 1862, shall, in addition to being receivable in payment of duties on imports, be receivable, and shall be lawful money and a legal tender, in like manner, and for the same purpose, and to the same extent, as the notes authorized by the act entitled “An act to authorize the issue of United States notes, and for the redemption or funding thereof, and for funding the floating debt of the United States," approved February 25, 1862.

SEC. 3. And be it further enacted, That the limitation upon temporary deposits of the United States notes with any Assistant Treasurers or designated depositaries, authorized by the Secretary of the Treasury to receive such deposits, at five per cent. interest, to twenty-five millions of dollars, shall be so far modified as to authorize the Secretary of the Treasury to receive such deposits to an amount not exceeding fifty millions of dollars, and that the rates of interest shall be prescribed by the Secretary of the Treasury, not exceeding the annual rate of five per

centum.

SEC. 4. And be it further enacted, That in all cases where the Secretary of the Treasury is authorized by law to re-issue notes, he may replace such as are so mutilated or otherwise injured as to be unfit for use, with others of the same character and amount; and such mutilated notes, and all others which by law are required to be taken up and not re-issued, shall, when so replaced or taken up, be destroyed in such a manner and under such regulations as the Secretary of the Treasury may prescribe.

TREASURY CERTIFICATES-OFFICIAL ORDER.

Congress having authorized the issue of certificates of indebtedness by the Secretary of the Treasury, in payment of audited and settled demands against the government, as well as in payment of checks, drafts drawn by disbursing officers upon amounts placed to their credit with the Treasurer of the United States, in favor of creditors who have furnished supplies, &c., and who are willing to receive such certificates in satisfaction of their demands, the following regulations are presented, and will be strictly observed in the execution of the act:

1. The certificates of indebtedness will be payable to the claimant or creditor of the government, or his order, and in denominations of one thousand and five thousand dollars. Certificates of the larger denomina tion will be issued in all cases where the nature of the claim will admit of it. A book will be opened by the Treasurer of the United States, in which shall be kept a record of each certificate issued under authority of the act; the name of the person to whom issued, the date, number and amount thereof, on what account, if on treasury warrant, the number thereof, and if on draft or check of a disbursing officer, the name of the officer by whom drawn, the date and amount of such check or draft, &c., &c.

2. The certificates shall be signed by the Treasurer, and countersigned by the Register of the Treasury, who shall also keep a complete record of said certificates, as required of the Treasurer. If issued upon a warrant, they will bear even date herewith; or if to a disbursing officer, then with the date of the presentation of his deed or draft on the Treasurer of the United States.

3. When the Secretary of War or Navy may desire to leave a credit on the books of the Treasury in favor of a disbursing officer of his department, he will draw his requisition on the Secretary of the Treasury in the usual form for the amount desired to be placed to the credit of such disbursing officer, and specify the appropriation properly chargeable.

4. Upon such requisition being received at the Treasury Department, a warrant will issue to the Treasurer, and he will accordingly place the amount to the credit of the disbursing officer named, who will then be authorized to draw the checks or drafts thereon, to the amount of such requisition, in favor of such creditors entitled to payment by him as may desire to receive such certificates in satisfaction of their respective demands.

The checks or drafts of disbursing officers will be in the following form:

The Treasurer of the United States will pay to tificates of indebtedness,

.1862.

or order, on cer

as

dollars, being amount due for

will appear by bill and receipt therefor, in my possession, and which will be rendered as a voucher in my accounts for the

year.

[Signed,]

To F. E. SPINNER, Treasurer of U. S.

quarter of this

5. As the certificates of indebtedness are only to be issued in payment of creditors, and for amounts liquidated and actually due them, the disbursing officer, before drawing his check or draft on the Treasurer, will take the same voucher from the creditor, and will, in all respects, be subject to the same responsibilities as if making payment in coin or United States notes.

8. The requisition in favor of the officer will be charged on the books of the accounting officer as other requisitions, and vouchers will go into the general accounts of the disbursing officer, and be settled with his other accounts.

TRADE ON THE CUMBERLAND AND TENNESSEE.

Treasury Department, March 4, 1862. First.-All licenses shall be issued by the Secretary of the Treasury, and all applications therefor must be made in writing to him, stating specifically the purpose for which the license is desired, and if for general or special trade, setting forth the character and aggregate value of the merchandise to be transported, the destination thereof, and the proposed route of transportation, and also the character of the merchandise,