Daily national Republican. [volume] (Washington, D.C.) 1862-1866, 1865-10-16
PRoPosALs.
pRoposALs FOR FUNDING oERTIFI.
Il CATBs OF INDEBTEDNESS, COMPOUND.
INTEREST NOTES, AND TREASURY


TREASURY DEPARTMENT,
WASHINGTON, d. c., Sept. 70, 1885. !
By virtue Of the authority contained In the first
section Of an act Of Congress entitled "An act 70
provide ways and means 10 support the Govern
mont" approved March 5, 1885, which provides,
among other things, that any Treasury Notes or
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 authorized by said act, notice is hereby
given to the holders Of Certificates OF Indebted
ness which mature before the nrst day OF Janu-
airy next, Of Compound Interest Notes, and Of
one and two.year Treasury Notes, OF the readi-
ness Of this Department TO give In exchange Tor
them, to the extent Of Fifty Millions Of Dollars,
six per cent. five-Twenty Year Bonds, at three
per cent. premium-that is to say, one hundred
dollars Of Bonds for each one hundred and three
dollars In Certificates and Notes; provided the
conversion 10 made prior to the first day oil Mo-
yember next.
The bonds issued In exchange for such certih-
Gates and notes will bear an Interest Of six per
cent. per annum, payable semi annually In coin,
upon the first days Of May and November, and
will be redeemed at the pleasure OF tho Govern
ment after Ave years and payable In twenty years
from the FIRST day Of November, 1850
The coupon and registered bonds issued under
this proposal will be Of the denominations Of one
hundred, five hundred, and one thousand dollars.
Registered bonds Of Eve thousand and ten thou
sand dollars will be issued II desired.
Holders Of certificates, compound interest or
treasury notes, VINO desire 10 make such CONVEX
sions, will deliver them TO the Treasurer, the As
sistant Treasurers, or the designated depositares
Of the United States, to any national depository
bank which may consent to transact the business
without charge. ..,.y ... ...
Interest will be allowed on certificates Of in
debtedness and one and two year Treasury notes,
matured or maturing prior to the LIST Of Noyem-
Der, 1855, up to tho date Of maturity; and when
maturing after the LIST Of November, interest will
be allowed to that day.
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 notos, from the period next prior
to that date.
The principal and interest Of such Treasury
Notes and Obligations will be considered to-
gether as an offer for conversion but when, after
deducting the principal Of the Bonds and three
per cent. premium, there remains fractional
part Of one hundred dollars, this fractional part
will be paid TO the deposition. Il ..-....
The Secretary reserves to himself the right Of
Withdrawing this proposal at any time prior to
said first day Of November, provided fifty mil
lions Of dollars SHALL prior to that date, DO offered
for conversion as Aforesaid.
Circulars Of instructions will be transmitted TO
the various officers authorized to receive Certih-
Gates and Notes, 10 which attention ~ invited.
no.. u II. MCCULLoCH,
oc3 3tdlew2w Secretary Of the Treasury.
on my AZ