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.
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., 1st 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.
Be it enacted . . ., That the Secretary of the Treasury be, and he is hereby, authorized to borrow on the credit of the