New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-19

FULL TEXT or THK BILL As ADOPTED ET,1ur ~ III
MrrrEE OF THE WHOLE or THE Housx &C. 6. q
(, REsENTArryEs. * 6 3 a 7::,$
IBr rELscrAPa TO fssK farsuss, II 3 4
WAsHNGTos. Jan. 1s.--The full tsxf - q s.
RefundiDg bill winch was hnsy adopted and rsr-z i
by the COMMITTEES OF tne Whole TO the Hoass d ~ X
sentauves this afternoon, Is a. soliows: 1. u q,
BILI TO FAcirrArETaE RErusDrss or rax s1un, x 4
Be enacted, by the Senate and House Of Rs.,,,. 4
tiyes OF the Cnited sfates Of America In
sembed That all existing pf0yisions OF Law - ikc<
bonds Of The United ssses bearing nishsff ~, =
terest than Az per cent per anaum which may er6st
Provided That, in lieu Of the bonds suthoriuoa = =
issued by the Act Of July IA. 1870 entitled An ~ ~
acts smendstory thereto. and the certificates aut1o
by the Act Of February &C. 1879, entitled An 81 n
the refundlng Of the Pnbli Debt the eecrcssrs S,
Treasury il hereby authorized 90 issue bonds n ~ )
amount Of exceeding 100000 COO which shs; -
redeemabe ut the pleasure Of chs United efsic< g
s5s date Of the sus snd also ,sn mar
the amount Of s3O0.000,0o0 IN dsnominsfions Il IA
$50 and $50. either registered or coupon, bearing NE
at the rEte Of per cent per annnm redssnisb 4,
the pleasure of the United States after yesr and
able ten years froa the date of issue. The boad,
certificates shall be I'm all respects Of Ike cLsr
ter and subectto the same proyAohs as the bona x
IAN act TO authorize the refnndIng OF tue N.t,asc
debt," xGd acts amendat0ry thereto. ~ ~
Prortdef, That nothing in this act shalt be consr>a
To authorize an increase OF the public debt; "a;
Prorided further That before any Of the bonds o. 49,
tcatss autnorzed by TINS act are Issued il snail A. 81
bonds aocrnng during the year 1881 ali the silver ca
OF 4l2l9 grains and all the gold over and s;go
$50o0O,0O0 now held In the Treasury foz redenp1p1
purposes. ~ t|If
bonds hereby authorized 20 be refunded shall cess &
the expiration OF thirty days after notice sa
have been DESIGNATED by the Secretary Of the Tres
section 3-The Secretary Of the Treasury is hsrspy
authorized in the process OF reminding The Eafsoo
debt exchange, less than
certificates herein authorized FOR any u the bends
the United States outstanding aud uneailed bearing
higher rate OF interest 4la per per snhnn
and 0e bonds redeemed the secretary Of the Tf1s
ury may allow 10 the hOdt the difference between "a
interest such bonds from TIC OF. exchanges 4
the time Of their maturity and the interest fora lie
thesproy of this act sha apply 10 the rceps
exchange VI OF the bonds issued 70 the Pzcdt
Railway Companies: and the bonds 50 received aal !
exchanged pursuance OF the proysions OF this at
shall be cancelled and destroyed. Is
Section 3-AnthorIy TO Issue bonds and certihcstes y
the amount necessary carry the provisions Of
act Is hereby granted and the Secretary OF the TREASURY
Is hereby authorized directed 20 make suisbls r
and regulations 10 carry this act into effect PRECEDED
that the OF preparing issuing, advertising and
issued snail not exceed one-Qusrter Of per cent. 3.
Section 4-Ihat the Secretary OF TIE Treasury IL hereby
to use not exceeding $Sooooooo Of The standard so
and silver coin In the Treasury in the re
the United States authorized 20 be refunded BY the
visions Of thls act; and he may at any llm1
Appropriated. much thereof he may considee
proper the purchase redemption Of United ststf
bonds certificates PTovdeo, That the bonds aud
tfcates purchased redee.red shall consttuts 10
part OF the king fund, bot shall be cancelled.
SEC. 6-FrOm and after the frst day Of May. 1891 Y
the three per cent bonds authorized the rst
this shall be the only hohds receivable eecufty
National bank circulation. security Tor the safo
Keeping and prompt payment OF the public money depos
ted with such banks but when any such bnds deposte
for the purpose Aforesaid shall be designated for pur
hase or redemption by the Secretary Of the feasur
banking association deposring the shan havo
he right substitute other OF the bonds OF tbs
United States leu thereof providsdstta no bond
lpOn which interest has ceased shall be accepted OF
hall be continued dep0st security for circulation
for the safe keeping of the pubic moneys; and 10
use bonds deposited shall not be witbdrawn, pro-
ided by within thirty days after interest has ceased
hereon, the baninug association depostiag she
anne shall be subject TO the liabilities and pro-
eedings on part of the Controller provided
section 5234 Of the Revised Statutes OF the Uuid
states. ~
And slrorided Jufser. That Section OF che act q
une 20. 1874 entitled "An act fixing the amount Of
Jnited States notes, providing for Redistribution Of The
National bank currency and for other purpoees and
he same Is hereby repealed, ana sections ,l69 and
$50 OF the Revised Statutes OF the United SlAtes be
ud tile same hereby rednacted. ~
SEC. 6-That this act shall be known the Fund 3
Act OF 1884,, and all acts and parts OF acts neon
istent with this act are hereby repealed.