, 1881-02-19
THE BILL


AslTls.
WAsHISuToN, u. e., Feb. 1s,-Followsu4 Is
the text Of tile Funding bill as 1t passed the
Senate to-day:
An ACT tn facilitate tho rcfundin2 of tho Ma
Ne Il enacted. ETC.,. Tint nil existing provision,
OF the law authorizing the rerundnS 0f the Nu.
ton debt sha!l app!y to any bonds oI tho unlted
per ceiltlm per unnum which may herenfter
Lcco'e redr.lnabe: provided. that, in lieu of
July II. lss0. entitled IAN net TO authorize tho
reminding III the Natonnl debt" aud meta
1r g. 5 as9 of FL: Ssr'eHf: sst
S liz III IL efapd9E e so '1s 9ea1J e' !. ss@:
"st "s a sssssi!ns 'ssSS So'' II seasasns ~ =
bcar lntcrrst 1T tho rate ot , per ccntu!n per.
Mnnuns. payable se1r-gilniHl!y,, redco1,abls nt
o psyte IT b te
exceeding *y0,lU0o09, IL denominations of SO
Sl,0N, either Registered or ct'upon. bcarsnx tn-
terest ai i rato not exceeding per csnt, paya.
" the United Htatcs after unp gear. and puyuble'
M y ten ycaya froT the ,,lnte nt issue; and ~. 2"
sh 5S esi ns an
sh-ll be- In a!i other respects. OF like eharhcsGr
apd subject y the satnH provision as tho '1n1' 3
ths Na1ona! iei,t" and ssls ancndatery thsre.
costracd 20; as '' to nuih"fIzo NJ iaercnse u tho
public debt: provided, further. thnt Interest
np"n Tho pcr .s Sst nos hIFsey , ,hGr,ed a.
thirty dnys utter publication 0t nnttec that the,
sau'n has beer! llcsiunnted by tho Secretary os
'tuty ri tho Secretary. or tho Treasury. under
such rules a,!'l Ettlatons Us no may preseFIe as
than tn received Mt I'LL tGnDSlttJfE4 OF
tho United States, u',d ut al National hunks, and
,ch other ks III s "y neslS'ate; t"s me tne
for thirty .lnys before he shsIl co''trnSt for "
nwnrd nny portion Of aa!d -honds Or Treasury,
ers, Or "t1ierwlA, thal, nnder such public sui
scrptlons; and II It ahnl! h4ppon tint moro than
si"fcs, nj % or eltGor, hive iec subMrIGcd Within tho
bn!i thirty duys. hn shall nwnrh the full ntpn'lnt
auoserltd 70 q! pstsoas who shal! ~ hASs - 1n%as
less, ut tle fntea mast advantageous t0 tue :
United stntcs, MD tho residue ratably s.lno'iE
rrsreutisviy suhscrihtSi at t6o ratcs iuost I'd.
ya.itngeous to tho United Statos.
SECTION TWO. ;
Tho Secretary Of tho Treusury IL hereby hu.
thOrxc1 In tho prccsa NJ rcfu!llfnx tho Nntional
tteht, ta exrlln,lge. ut not ltss than par; nly
bonds Or 'ireas!'ry. i'otes herein nuthnrlzod fof
cancelled. brartng higher rutc nI Interest thun
y. prr ccntutn pnr anlu1 any o,. tho b0slds 81,
low t0 thu hnl.lcrs the difference between the
Interest IN vuch bonds from thu date Ut Oh.
rhnnEn 10 tho tll'o IT maturity. at tho Interest
tssu".i: nntl tho bn1ds ~ received HnI exchanged
III pursuance nf the provisions Of th!s net shalt
provisions Of this oct sull apI,ls to the redcnp.
tion Or rxchanxc nt my OF tue bonds 1ssaeu 10
the l'Aritle ltuilwny Companies.
EECrIDH TtlHEE.
Tho Secretary at tho Troasury IL her3tY au..
thurixod and ilIrcotal to u,..kp sntaGe rules und
regulations tu curry this act into ufGct, 4Ild tl'Y
s.P
ihi tiisposix r. Of Id bo,.1s an:i Trcasury aotss au
thnrjxcsl 10 bu issued Hh!slI nut excoed one.halt
Tho Hecretary Of tho Treasury ts hereby au-
thorlxca, II, In his opinian 1t shull bec?tno !gc-
c*sary. II. ''se ten!M'rMrl'y n,t 9xeey!nE ~. Z,
tlo rrcnsury In redemption Ut : and pet. cent
lont!s of tho United ktates nutht'rIxod 20 be r.
ho prycoes q tho ATE Yt ~ INC ehs eonas
IL sssps oSy !, .o 'ss ,,os g.Ss:;; ;Ss;s;{
s!sapsio II a S'i II ,he Jaitei stases to!ids U
Treasury .es authorized by iAis uct; provided,
or redvelnt4 shs!! constitute ~ part ol tho
sinking fund.- but shR!l be caIceleu.
SECTION FlvE.
pur % .snt 1T Gal,ds a,,tnosze iii by t9s tlrst section
Of ta!s aet shatl 10 tho oniy GGnda rssSsans as
security for aaft-kocpng und prompt paytnvat
oi public noiry deposited With t.leh banks;
p,irn'sas aforesaid. shatl hs eesixnated Tor the
IIurcuaso or redemption ny tho Secretary Ut tho
Treasury. tho IaMklnx ussnoIutloa deposlt.
| lug tGa sanlo shall hase tho ,siyht
| ef tho, United States IL LEY thereof:
his rvasea sball LII accepted. or sha!l be con-
tInucd OIL deposit ~ security for circulation. Or
fur sufu- keeping OF pubu 1unacy, Hlid III raSo
tno bon''s = o.iePoxitea shalt II. n wi.earawa.
Us provided by law, within thirty 4ays utter IN
terust haH ceAsed thereon. thu 9ankiny asscta-
tIon depodltinF tho snn. shall be subject to !ho
Controller provided tor- u sec; q, ~ u t4s
lte,lEud Statutes or thu un!te4 States; and pro.
y!ued, further, that Nee. Of tug aet of Jnn.
". 1874. entitled ~ Act ttSlnx TIC amount VI
tlon Vi tho National bunk currency, snd for
| peanl; 4lld Hecs. 5l5J aud {, iW u tho ~"
yispd 3t4tutca OF the ltMItcd Stuten oa aal tho
| sanp arc hereby rrCnactsd.
HECTlOH BIx,
That payment Of my OF the boudS hote-
by authorized, after tho expiration Of ava
| yeaFy shall te made In amounts 10 te deter
! t,tyf fkA An0h rt4