The Albany register. [volume] (Albany, Or.) 1868-18??, 1870-09-24
[PuB iG-No. lC5.l

AN ACT to antaorizo the funding of tho ma
tona! debt.
y. i; enacted " the Senate and Home of
Eepressntattc.s of the United States of 4Eerica
IN CoHyrsss assembled:
That the Secretary Of the Treasury is here.
by authorized 10 issue in a sums not
exceeding in the aggregate TWO hundred mil
lion dollars. coupon or registered bonds of the
United States, in such form as he may pre-
scribe and Of denominations of fifty dollars,
some multiple OF that SUN. redeemabic in
coin Of the present. standard value, at the
pleasure of the United States, after ten years
from the dale CT their issue. and bearing in
tcrest, payable scni-annunlly III such coip ut
the rate OF five per cent. per annurn also q
suri ar sums nor exceeding: in the aggregate
three hun ired million dollars of like bonds,
the saElc III all respects. but payable at tho
pleasure of tne nited States, after fifteen
years from the date OF their issue, and bcnrin z
interest at tie rate of four and 4 half per
cent. per aunCm also !; sum or sums not ex-
cccdln-. IN The aggregate one thousand million
dollars OF like bonds the same in all respects.
bat payable at the pleasure of the Cnitei
States, after thirty years from the date OF their
issue, aud beariug interest at the rate Of iouI
per cent. per annum ali OF which said several
classes of bonds and thc interes: thereon saal
be exempt from taxation III any form by OF
under State. municipal, or local authority
expressed upon their face Tie above specified
conditions. aud shall, with their coupons, be
made payable at the Treasury Of the Unite,
States. But nothing in this act. in any
other law now in force. shall lie construed to
authorize any increase whatever o. the bonded
deb; Of the United States.
Sec .. And be il further enacted, That the
Secretary of the Treasury is hereby authorized
to sell aud dispose of any of the bonds issuea
,.1jn act af i,.Ssf h1i val,
for coin. and to apply the proceeds thereof Il
the redemption of any of the bonds Of tn,
United States outstanding. and known as FIVE
twenty bonds, ut their par value, or he may
exchange the same for snch fiye-twcnty bonds
par for par but the bonds hereby authorized
shall be used for no other purpose whatsoever
And sum no. exceeding onc-balf of one nc,
cent. of the bonds herein authorized is hereby
appropriated to pay the expense of preparing.
issuing, advertising, and disposing OF the same
Sec. ,. And be it further enacted, That the
payment of any of the bonds hereby author.
lied after the expiration of the said several
terms of ten, fifteen, and thirty years, shall be
made in amounts to he determined from time
to time by the Secretary of the Treasury at his
discretion, the bonds so to be paid to be dis.
tinguished and described by the dates and
numbers. beginning for each successive pay
ment with the bonds of each class last date
and numbered, of the time Of which intended
Treasury shall give public notice, and the in
terest on the particular bonds so selected M
any time to be paid shall cease at, the expira
tion OF three months from the date of such
notice.
Sec. 4. And be ii further enacted, Thai
the Secretary of the Treasury is hereby
authorized, with any coin in the treasury
fthe United States which he may lawful
ly apply to such purposes, or which m = y
be derived from the sale ofapy ofthe bonds
the issue of which is provided for in this
act, to pay a. par and cancel any six pei
cent. bonds of the United States of the
kind known as fve-twenty bonds, which
have become or shall heeafter become
redeenlable by the terms of their issue
But the particular bonds so to be paid
aud cancelC led shall In all cases be in
dicated and specified by class, date, and
number, in the orde[rl OF their numbers
and issue, beginning with the 6rst num-
bered and issued, 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 go selected and advertised to be
paid shall cease.
Sec s. -And be it further enacted, That
the Secretary of the Treasury ia hereby
authorized, at any time within two years
from the passage of this act, to receive
gold coin of the United States on deposit
for not less than thirty days, in sums OF
not less than one hundred dollars, WIN
the Treasurer, or any assistant treasurer
of the United States authorized oy tue
Secretary of the Treasury to receive tne
same; who shall issue therefor ceruhca -
of deposit made in such form as the sec
rstary of the Treasury shall Ifescrioe'