Daily national Republican., 1865-10-02
PROPOSALS FoR FUNDING cER-
TiFIcATEs OF INDEBTEDNESS.
COMPOUND INTEREST NOTES,
AND TREASURY NOTES.
TREASURY DEPARTMENT,

TREAsuRY DEPARTMENT,
wAsHINaToS, d. c., Sept. 70, 1885.
By virtue Of the authority contained in
the frst section Of an act Of Congress entitled
"An act TO provide ways and means to sup
port tho Government" 2" approved March 3,
1855, which provides, among other things,
that any Treasury notes or other obligations
bearing interest, issued under any act Of Con-
gross, 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 here
by given to the holders Of certificates Of in
debtedness which mature before tho LIST day
Of January next, Of compound interest notes,
and Of one and two year Treasury notes, Of
the readiness Of this Department to give In
exchange for them, to the extent Of $50,-
900, 900, six per cent. hve-twenty year bonds,
at three per cent. premium-that Is 10 say,
800 Of bonds for each $10S In certificates
and notes provided the conversion Is made
prior to the ist day Of November next.
The bonds issued In exchange for such GER
tifcates and notes will bear an interest Of six
per cent. per annum, payable somi annually
in coin, upon the FIRST days Of May and No.
vember, and will be redeemable at the pleas
ure Of the Government after Ave years, and
payable in twenty years from the first day Of
November, 1855.
Tho coupon and registered bonds issued
under this proposal will be Of the denomina-
tions Of one hundred, Eve hundred, and one
thousand and ten thousand dollars will be
issued, II desired.
Holders of certificates, compound inter
est or Treasury notes, who desire to make
such conversions, will deliver them to the
Treasurer, Assistant Treasurers, or the desig-
mated depositaries Of the United States, or to
any National Depository Bank which may
consent to transact the business without
charge.
Interest will be allowed on certificates Of
indebtness and one and two-year Treasury
notes, matured or maturing prior to the first
of November, 1865, up to the date Of ma
turity; and when maturing AFTER the drst Of
November, interest will be allowed to that
day.
Upon tho compound interest notes the in
terest will be computed to November /, 1865,
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 Treas
ury notes and obligations will be considered
together as an offer for conversion; but whom
after deducting the principal Of the bonds
and three per cent. premium, there remains
q fractional part Of one hundred dollars, this
fractional part will be paid to the depositor.
The Secretary reserves to himself the right
Of Withdrawing this proposal at any time
prior to the said first day Of November, pro.
vided fifty millions Of dollars shall, prior tc
that date, be offered for conversion as afore.
said.
Circulars Of instructions will be transmit
ted to the various officers authorized to re-
ceive certificates and notes, to which atten
tion is invited. II. McCULLocH,
Secretary Of the Treasury.