The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-06-07

time to be paid shall cease at the expiration OF
three months from the date of such notice.
Section 4. That the Secretary of the Treasury
is hereby authorized and instructed, with any
coin in the Treasury of the United States, which
in his opinion and discretion can be conve-
niently applied to that purpose, to pay at par
and cancel any six per cent. bonds of the United
States of the kind known as fve-twenty bonds
which have become, or shall hereafter become
redeemable by the terms of their issue. But the
particular bonds so to be paid and cancelled
SHALL in all cases, he indicated and specified by
class, date, and number in the order of their
numbers and issue, beginning with the first
number and Issue. in public notice to be given
by the Secretary of the Treasury and in three
months after the date of such public notice the
interest on the bonds so selected and advertised
to be paid shall cease But IL shall be competent
for the holders and owners of any of said bonds,
SO specified for payment to exchange the same
for bonds issued under the authority of this act,
at any time before the end of the notice pro-
vided for in the second section of this act
Section -. And be it further enacted, That
the United States bonds purchased aud now
held in the Treasury in accordance with the
provisions relating to a sinking fund of section
five OF act entitled San Act TO authorize the
issue of United States notes, and for the redemp-
tion or funding thereof and for funding the
floating debt of the United States" approved
February 25, 1862 and all other United States
bonds which have been purchased by the Secre-
tary of the Treasury, with surplus funds in the
Treasury, and now held in the Treasury of the
United States, shall be cancelled and destroyed.
detailed record of such bonds SO cancelled and
destroyed to be first made In the books of the
Treasury Department Any bonds hereafter
applied to said sinking fund and all other
United States bonds redeemed or paid here
after by the United States shall also in like
manner be cancelled and destroyed, and the
amount of the bonds of each class that have
been cancelled and destroyed shall be deducted
respectively from the amount of the class of
the outstanding debt of the United States. In
addition to other amounts that may be applied
to the redemption or payment of the public
debt, an amount equal to the interest all bonds
belonging to the aforesaid sinking fund shall be
applied, as the Secretary of the Treasury shall
from time TO time direct, to the payment of the
public debt, as provided for in section of the
act aforesaid
Section Ono number). And be it further en-
acted That the Secretary of the Treasury is
hereby authorized to receive gold coin of the
United States, or bullion, on deposit for not less
than thirty days, in sums of not less than one
hundred dollars, with the Treasurer or any
Assistant Treasurer of the United States autho-
rized to receive the same, who shall issue there
for certificates of deposit, made in such forms
the Secretary of the Treasury shall prescribe,
and said certificates of deposit shall bear interest
at a rate not exceeding three per centum per
annum, and any amount of gold coin or bullion
so deposited may be Withdrawn from deposit
at any time subsequent to thirty days from the
date of deposit, after ten days notice, and
on the return of said certificates
Provided, that the interest on all such
deposits snail cease ana determine at the
pleasure of the Secretary of the Treasury, and
not less than twenty-five per centum of the coin
and bullion deposited for or representing said
certificates of deposit shall be retained in the
Treasury for the payment of said certificates,
and the excess beyond twenty-five per centum
may be applied, at the discretion of the Secre-
tary of the Treasury, to the payment or redemp-
tion of such outstanding bonds of the United
States heretofore issued and known as the five
twenty bonds, as he may designate, under the
provisions of the 4th section of this act and
any certificates of deposit issued as aforesaid,
may be received at par with the interest accrued
thereon, in payment for any bonds authorized
to be issued by this act.