Centre Democrat. [volume] (Bellefonte, Pa.) 1848-1989, 1879-03-20
The Ten-DoIIar Certificates.
AN IMPORTANT CIRCULAR rRoM THE sEcRE
TARY or THE TREASURY.

AN IMPORTANT CIRCULAR IRON THE sKcRE.
TARY OF THE TREASURY.
As stated in The Post of that date, the
Secretary of the treasury on Saturday
issued circular calling attention 10 the
$40 refunding certificate. to be issued
under the provisions of the following
act OF congress, approved February 26,
1879: THAT the Secretary OF the treas.
ury is hereby authorized and directed
10 issue, in exchange for lawful money
of the United States that may be pre-.
sented for such exchange. certificates Of
deposit of the denomination of ten dol.
lars, bearing interest at the rate of four
per centum per aDnum, and convertible
at any time, with accrued interest, into
the four per centum bonds described in
the refunding act; and the money so
received shall be applied only 10 the
payment of the bonds bearing interest
at rate of not less than five per cen.
tum in the mode prescribed by said act,
and he is authorized 10 prescribe suita.
BILE rules and regulations in conformity
with this act" The description OF these
certificates, which are about the size Of
greenback note, has already been
ilt a nc 4 pst. ut hulh
that these certificates will be sold for
lawful money, at par and accruing in.
terest to the date Of purchase, by the
Treasurer of the United States, at
Washington, and the assistant treasu.
rers at Baltimore, Boston, Chicago. Gin.
cinnati, New Orleans, New York, Phila.
delphia, ST. Louis and San Francisco;
and the Treasurer of the United States
at Washington, and the assistant treas.
urer at New York, will also receive in
payment drafts in favor of themselves,
respectively, drawn on New York,
which will be collected, and the excess,
If any. returned by check TO the de
positors. The Secretary of the treasury
will also accept in payment certificates
OF deposit of National banks specially
designated TO receive deposits on this
account, but the refunding certificates
will not be delivered until the certifi.
cate of deposit issued by tho bank has
been paid for by a treasury draft, or by
"A deposit of like amount with the
treasurer or some assistant treasurer OF
the United States, or until United
States bonds Of equal amount are sub
stituted in their stead. All National
banks, rpon complying with section
5.lj3, revised statutes Of the United
States. are invited 10 become financial
agents OF the government and deposi.
taries Of public moneys accruing from
the sale of these certificates. The
money received by depositAry banks
for such certificates will remain on de.
posit with said banks, subject to the
order OF the treasurer Of the United
States, and calls for the redemption of
bonds will issue from time 10 time. As
the secretary may direct. All banks,
bankers, postmasters and other public
officers, and all other persons. are in.
vited to aid in placing these certificates.
They can make their arrangements
through National banks for the deposit
Of the purchase money. Commission.
ers will be allowed, on purchase Of these
certificates, as follows On an aggregate
of 81 600, and not exceeding 100000.
in any one calendar month. one-eighih
OF one per cent: and on any amount
exceeding 500 600. in a like period. a
commission of one. fourth of one per
cent. on the excess; and parties pur.
chasing at one time 81 600 or more of
the certificates will be entitled TO re.
ccivc them free Of charge for transpor
taiion. The certificates will be ready
for delivery April |. 1879. at which date
they will begin TO bear interest. which
will be payable upon the conversion Of
the certificates into four per cent bonds.
The secretary also announces that, as
soon as practicable, ten dollar ccriifi
Gates will be issued under this law, sim.
liar in form and upon like similar con.
ditions to those above described, TO be
registered on the books OF the treasury
IN the name Of the owner. which name
will also be entered on the face Of the
certificate.