Daily national Republican., 1865-10-27
PROPOSALS FOR FUNDING CERTIFI-
Il GATES OF INDEBTEDNESS, COMPOUND.
INTEREST MOTIFS, AND TREASURY
NOTES
TnRAsrRH DEPARTMENT, I

TREASURY DEPARrNENT,)
WAsHINGroE, ID. c., Sept. %, 1853.
By virtue Of the authority contained In the nrst
section Of an act Of Congress entitled IAN act to
provide ways and means to support the Govern
ment,n approved March 8, 1855, 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 Certibcates Of Indebted
ary next, OF Compound Interest Notes, and Of
one and two.year Treasury Notes, OF the readi-
ness Of this Department to give In exchange for
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 is made prior to the nrst day Of No
vember next.
The bonds issued in exchange for such certih
Gates and notes will bear an interest OF six per
cent. per annum, payable semi -aonually In com,
upon the hrst days OF May and November, and
will be redeemed at the pleasure OF the Govern
ment after Ave years and payable In twenty years
from the first day Of November, 1855.
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 to make such conver-
sions, will deliver them to the Treasurer, the As
sistant Treasurers, the designated depositaries
Of the United States, to any national depository
bank which may consent to transact the business
without charge.
Interest will be allowed on certificates Of in
debtednoss and one and two year Treasury notes,
matured or maturing prior to the LIST Of Noyem-
ber, 1865, up to the 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 notes, 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 a 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
said first day Of November, provided fifty 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 Certia-
Gates and Notes, TO which attention is invited.
IT, MCCULL0CH,
ocS.3tdlaw2w Secretary OF the Treasury.