Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1893-12-07

cations to pay of the United States
into such subdivisions or multi.
Piles as may make them more ne.
gotiable and the said financial
agents authorized to contract on
behalf Of the Cherokee council
and nation to convey, transfer, sell
OF negotiate said securities to said
purchasers upon the deposit by
Them of said purchase money in
the treasury of the United States
for tile benefit Of the said purchas-
ers guaranteeing them all the
rights and privileges inuring to
the Cherokee nation from said
amounts, contracts end agreements
upon such payment by them.
Sec. 3. Be IL further enacted,
that il il shall be found by said
financial agents that it is more ex-
pedient and practical, said agents
may contract TO have printed and
to be delivered to the party pur-
chasing such bonds or loan, bonds
Of the Cherokee nation, or TO take
the necessary steps and to cause
or secure bonds of the Cherokee
nation to be issued, reciting upon
their face the authority therefor,
together with such other recitals
or facts that may strengthen their
credit for the full amount borrow.
ed, bearing four per cent interest,
payable at such times as the law of
the United States may direct,
which bonds shall be signed by
the principal chief and counter.
signed by the treasurer Of the
Cherokee nation, and be of suita-
hle denominations and nature and
be payable at the same time and
place as the obligations or con-
tracts OF the government of the
United States are payable to the
Cheroke nation and shall have in.
terest bearing coupons attached
for different installments of inter-
est, and after said bonds are prop
erly executed and a contract for
such loan, or the sale of contracts,
obligations and securities has been
entered into between said tinan-
cial agents and responsible pur.
chasers, according to the terms as
aforesaid and the sum of not less
than 100000 deposited by such
purchasers upon the signing Of the
agreement to effect such sale or
loan; in order to guarantee and
secure the full and faithful execu.
tion of the same, then the said
financial agents togethr with the
principal chief and treasurer, are
hereby authorized and directed to
pledge the interest and principal
of said debt of the United States
to the Cherokee nation, or the
part of it herein authorized to be
the basis of the loan, to.wit, the
said SO, 900 and interest there
on, to secure the payment of both
principal and interest OF the bonds
of the Cherokee nation authorized
to be issued by this act: Provided
that in no case shall the bonds of
the Cherokee nation hereinbefore
provided to be issued, or the Sc
curi,ies of the United States, be
issued, sold or conveyed for a less
sum than the said sum hereinbe-
fore recited, (or 6,640,000,) and
shall not be for a less sum than
the purchasers shall contract to
the said financial agents to pay for
the same. Provided further, that
neither the financial agents, the
chief or treasurer shall receive the
money paid for said bonds or Sc
curities, or any portion thereof,
but the entire amount shall be
placed in the treasury of the
United States, or the United
States sub.treasury, at ST Louis, to
the credit OF the Cherokee nation
subject to the action Of the nation
al council, and to secure such pay
ment the said financial agents,
with the principal chief and treas
urer, are hereby authorized to
place the bonds of the Cherokee
nation, if issued as aforesaid, fof
the contracts, obligations or Sc
curities of the United States, in
the execution of such loan, aud
the payment of such money in the
treasury of the United States in
charge of the secretary of the treas
ury, by HIM 20 be delivered to the
parties thereto entitled, upon such
execution Of such loan, and sale or
conveyance of said bonds or secur-
tiles, and for such purposes, and
for the faithful execution of said
contract, the said secretary or
treasurer OF the United States is
hereby authorized to act for the
Cherokee nation, and the said sec.
retary and treasurer are further
authorized to pay the principal
and interest of the amount due the
Cherokee nation for said lands and
upon said contracts and agree
ments, or 6,640,0 900 thereof, with
interest, to the purchasers, or their
assigns, the parties lawfully en-.
titled to receive it as they, respect.
lively, fall due. the bonds as they
are taken up to be cancelled and
returned to the treasurer Of this
nation.
Section four conveys authority
on the financial agents, chief and
treasurer to perform any act neces-
sary to carry out the provisions Of
this enactment.
Section five requires a full re.
port Of the commission to the ma
tional council and gives them but
ninety days TO secure and execute
contract for the sale Of the Sc
eurities.