Pennsylvania Act 1864-629 — PUBLIC DEBT - PAYMENT OF INTEREST ON

Act text

PUBLIC DEBT - PAYMENT OF INTEREST ON
                  Act of May 3, 1864, P.L. 732, No. 629               Cl. 72
                                  AN ACT

     Relative to the payment of interest on the public debt.

        WHEREAS, By an act of Assembly, approved the twelfth day of
     June, Anno Domini one thousand eight hundred and forty, it was
     provided that, hereafter, the interest falling due on
     Pennsylvania stock shall always be paid in specie, or its
     equivalent; and further, that all other creditors of the
     commonwealth shall be paid in gold, or silver, or its
     equivalent:
        And whereas, It has been enacted by the Congress of the
     United States, by an act approved the twenty-fifth day of
     February, Anno Domini one thousand eight hundred and sixty-two,
     that the notes, issued by the Secretary of the Treasury, on the
     credit of the United States, shall be lawful money, and a legal
     tender, in payment of all debts, public and private, within the
     United States; therefore,

        Section 1.  Interest payable in United States Currency
        So much of an act, approved the 12th day of June, 1840, as
     requires the interest on the public debt of this Commonwealth to
     be paid in specie or its equivalent, be and the same is hereby
     repealed; and that the said interest shall be paid by the state
     treasurer, as the same shall hereafter fall due, in such notes
     as have been or shall be declared, by any law of the United
     States, to be lawful money, and a legal tender in payment of
     debts, public and private, within the United States.  1864, May
     3, P.L. 732, Sec. 1.