Daily national Republican. [volume] (Washington, D.C.) 1862-1866, 1865-10-17
PROPOSALS..
PROPOSALS. FOR FUNDING CERTIFI-
i CATBs OF INDEBTEDNESS, COMPOUND
- INTEREST NOTES, AND TREASURY


...... TREAeunr DHfAhTMkFTtt
u wAsuIraros, d. O., Sept. %, 1895. !
By virtue Of the authority contained 10 the nrst
section Of an not OF Congress entitled IAN act 10
provide ways and means 70 support the Govern
mont, approved March 1850 which provides,
other obligations bearing interest issued under
any ACT Of Congress- may, at the discretion OF the
Secretary Of the Treasury, and with the consent
Of the holder, be converted into any description
Of Bonds authorised BY said act, notice is hereby
given 10 the holders Of Certificates Of Indebted
ness which mature before the hrst day OF Janu.
airy next, Of Compound Interest Notes. and OF
one and two. year Treasury Notes, Of the readi-
ness Of this Department 10 give In exchange for
them, 10 the extent Of Fifty Millions Of Dollars,
six per cent. Five-Twenty Year Bonds, at three
per cent. premium-that 10 to say, one hundred
dollars Of Bonds for each one hundred and three
dollars In Certificates and Notes; provided the
conversion is made prior to the hrst day OF No
vember next.
Gates and notes will bear an Interest Of six per
cent. per anuum, payable semi annually In coin,
upon the first days II May and November, and
will be redeemed at the pleasure OF the Govern
ment after ave years and payable In twenty years
from the nrst day OF November, 1885.
The coupon and registered bonds issued under
this proposal will be Of the denominations OF one
hundred, ave hundred, and one thousand dollars
Registered bonds Of ave thousand aud ten thou
sand dollars will be issued II desired.
Holders OF certificates, compound interest or
Treasury notes, who desire 10 make such CONVEX
sions, will denver them TO the lrehhureri tue AS
sistant Treasurers, or the designated depositarcs
Of the United States or to any national depository
bank which may consent to transact the business
without charge.
Interest will DO allowed on certificates OF In.
debtedness and one and two-y year Treasury notes,
matured or maturing prior to the LIST Of Noyem-
Der, 1885, up to the date Of maturity; and when
maturing after the LIST Of November, interest will
be allowed to thatday.
Upon the compound interest notes the interest
will be computed TO November l, 1855, upon the
amount Of principal and interest compounded on
the back Of said notes, from the period next prior
TO that date.
The principal and interest Of such Treasury
Notes and Obligations will be considered to-
gether an offer for conversion but whom, after
deducting the principal Of the Bonds aud three
per cent. premium, there remains fractional
part Of one hundred dollars, this fractional part
will DO paid 10 the deposition.
The Secretary reserves to himself the right OF
withdrawing this proposal at any time prior to
said nrst day Of November, provided atty mil
lions Of dollars shall prior to that date, be offered
for conversion as aforesaid.
Circulars OF Instructions will be transmitted to
the various officers authorized to receive Certih-
Gates and Notes, to which attention is invited.
Fl. MCCULLOCH, y
oe3. Stdlaw2w Secretary Of the Treasury.
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