Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1895-04-25

rotary or che treasury or the UnlCeu
States, Of the first part, and Messrs.
August Belmont & Co., of New York, on
behalf of Messrs. N. M. Rothschild &
Sons of London, England, and them
selves; and Messrs. ]. P. Morgan C Co.,
Of New York, on behalf Of Messrs. ]. s.
Morgan & Co., of London, and them
selves, parties Of the second part, wit
nesseth:
Whereas, It is provided by the re-
vised statutes Of the United States (sec-
ton 370O) that the secretary OF the
treasury may purchase coin with any
of the bonds or notes of the United
States authorized by law, at such rates
and upon such terms as he may deem
advantageous to the public interests;
and the secretary of the treasury now
deems that an emergency exists in
which the public interests require that
as hereinafter provided, coin shall be
purchased with the bonds Of the United
States of the description hereinafter
mentioned, authorized to be issued
under the act entitled, "An Act to Pro-
vide for the Resumption Of Specie Pay
ments," approved Jan. IA, 1875, being
bonds of the United States described in
an act Of congress approved July IA,
1870, entitled, "An Act to Authorize the
Refunding of the National DEBIT" now,
therefore, do the said parties Of the sec
ond part hereby agree to sell and de-
liver to the United States 100000
ounces Of standard gold coin Of the
United States, at the rate of $17.8O441
per ounce, payable in United States 4
per cent thirty-year coupon or regis
tered bonds, said bonds to be dated
Feb. 1, 1895, and payable at the pleas
ure Of the United States after thirty
years from date, issued under the acts
of congress Of July IA, 1870, Jan. 20,
1871, and Jan. IA, 1875, bearing interest
at the rate of A per cent per annum
payable quarterly.
First. Such purchase and sale of
gold coin being made ON the following
conditions.
1. At least one-half of all coin de-
livered hereinunder shall be obtained
in and shipped from Europe, but the
shipments shall not be required to ex-
coed 100000 ounces per month, unless
the paroles Of the second part shall con-
sent thereto.
2. All deliveries shall be made at any
of the subtreasuries or at any other
legal depository Of the United States.
3. All gold coin delivered shall be re-
ceived on the basis Of rs $40 grains Of
standard gold per dollar, If within the
limit of tolerance.
4. Bonds delivered under this con-
tract are to be delivered free Of acl
crued interest, which Is to be assumed
and paid by the parties Of the second
part at the time Of their delivery to
them.
Second. Should the secretary of the
treasury desire to offer or sell any
bonds of the United States on or be-
fore Oct. 1, 1895, he shall first offer the
same to the parties of the second part;
but thereafter he shall be free from
every such obligation to the parties Of
the second part.
Third. The secretary Of the
treasury hereby reserve the right,
within ten days of the date hereof, in
case he shall receive authority from
congress therefor, to substitute any
bonds of the United States, bearing
per cent interest, Of which the prin-
cipal and interest shall be specifically
payable in the United States gold coin
of the present weight and flneness, for
the bonds herein alluded to; such per
cent bonds to be accepted by the par
ties Of the second part at par-that Is,
at $18.60465 per ounce of standard
gold.
Fourth. No bonds shall be deliver
ed to the parties Of the second part, or
either Of them, except in payment for
coin from time to time received here
under; where, upon the secretary Of the
treasury of the United States shall and
will deliver the bonds as herein pro-
vided at such places as shall be desig-
mated by the parties of the second part.
Any expense of delivery out of the
United States shall be assumed and
paid by the parties of the second part.
Fifth. In consideration Of the pur-
chase Of such coin, the parties Of the
second part and their associates here
under assume and will bear all the ex-
pense and inevitable loss Of bringing
gold from Europe hereunder; and, as
far as lies in their power, will exert all
financial influence, and will make all
legitimate efforts to protect the treas
ury of the United States against the
Withdrawals Of gold, pending the COM
plete performance of this contract.
In witness whereof, the parties hereto
have hereunto set their hands in FIVE
parts, this 9Th day Of February, 1895.
]. G. CARLISLE,
Secretary of the Treasury.
AUGUST BELMONT & CO.,
On behalf of Messrs. N. NJ. Rothschild
G. Sons, London, and themselves.
J.P. MORGAN G CO.,
On behalf Of Messrs. ]. S. Morgan & Co.,
Of London.