ART. 34. ] DEBT — PUBLIC. 41

"Maryland Defence Loan, " such advertisement shall be made
by the Treasurer in such manner and for such times as the said
Governor shall prescribe; and after the time limited by said
advertisement, the proposals received, shall be opened by the
Treasurer in the presence of the Governor and Comptroller, and
so much of the stock as may be necessary, shall be awarded to
the highest bidders therefor at the prices named in their bide
respectively, and on payment being made therefor, certificates
shall be issued as hereinbefore provided, but the right shall be
reserved to the said Governor, Comptroller and Treasurer, or a
majority of them, to reject any bids for satisfactory cause.

5. The Treasurer is hereby authorized and directed to receive
from any person or bodies corporate, in payment for any part
of the "Maryland Defence Loan, " purchased by them under the
provisions of this act, any United States Treasury notes, bonds
or evidences of debt, which at the time of said payment shall be
receivable by the United States for taxes and public dues.

6. All payments made by, or on account of the purchasers of
the loan authorized by this act, shall be made to the Treasurer
on the warrants of the Comptroller, and all certificates of the
stock of said loan, including those issued to the Treasurer him-
self, as trustee of the sinking fund, shall be signed by the Trea-
surer and countersigned by the Comptroller,

7. The additional direct tax of fifteen cents on every hundred
dollars worth of the assessable property of the State, imposed by
the General Assembly at its present session, is hereby specially
pledged for the payment of the loan authorized by this act, and
the said tax is hereby, on the faith of the State, declared irre-
pealable until the principal and interest of the said loan shall
have been fully paid.

8. Any of the chartered banks of this State may purchase any
amount of the loan authorized by this act to be issued, without
regard to any limit heretofore prescribed by the laws of this
State, relating to said banks; and in case any bank in which
the State holds part of the capital stock shall propose to take