The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1895-02-22
THE BOND coNTRAcT.

THE BOND coNTRAcT.
Full Text of the rluoh Talked OF Agree
mont with the Bankers.
WASHINGTON, Feb 15.-The full
text of the bond contract is as follows:
This agreement, entered into this
9Th day of February, '95, between the
secretary of the treasury, of the first
part, and Messrs. August Belmont &
Co, of New York, on behalf of
Messrs. N. M. Rothschild & Sons, of
London, Eng, and themselves and
Messrs. J B. Morgan & Co., of Lon
dbn, and themselves, parties of the
second part. Witnesseth: Whereas
it is provided by the revised Statutes
Of the United States (section 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
most advantageous to the public in
terests; and the secretary of the
treasury now deems that an emergen-
cy exists in which the public inter
ests require that, as hereinafter pro-
yided, coin shall be purchased with
the bonds of the United States of the
description hereinafter mentioned,
authorized to be issued under the act
entitled IAN act to provide for the
resumption of specie payments" APP
proved January IA, 1878, being bonds
of the United States described in an
act of congress approved July Ia,
1870, entitled IAN act to authorize
the refunding of the national debt"
8I Now, therefore, the said parties of
the second part hereby agree to sell
and deliver to the United, States
3,5OU,0OO ounces of standard gold coin
OF the United States at the rate of
SIT. sO441 per ounce, payable in United
States 4 per cent thirty year coupon
or registered bonds, said bonds to be
dated February 1, 1895, and payable
at the pleasure of the United States
after thirty years from date, issued
under the acts of congress of July II,
1870, January 90, 1871 and January
of per cent per annnm, payable
quarterly.
First-Such purchase and sale OF
gold coin being made on the follow
conditions:
dat least one-half of all coin de-
livered hereinunder shall be contained
in and shipped from Europe, but the
shipments shall not be required to
exceed 100000 ounces per month, un-
less the parties of the second part
consent thereto.
(2)-All deliveries shall be made at
any of the sub-treasuries or at any
other legal depository of the United
States.
(3)-All gold coins delivered shall
be secured on the basis of 25.S grains
of standard gold per dollar, il within
limit of tolerance.
(4)-Bonds delivered und er this con-
tract are to be delivered free of ac-
Acrued interest;which is to be assessed
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
of the bonds of the United States on
or before the 1st of October, 1895, he
shall first offer the same to the par
ties of the secoud part; but thereafter
he shall be free from every such obli-
cation to the parties Of the second
part.
Third-The secretary Of the treas
ury reserves che right within ten
days from date, in case he shall re-
ceive authority from congress there
for, to substitute any bonds Of the
United States bearing per cent in
terest, of which the principal and in
terest shall be specifically payable in
United States gold coin of the pres
.ent weight and fneness for the
bonds herein alluded to; such per
cent bonds to be accepted by the par
ties of the second part at par; l. e., at
$18. 6O4e5 per ounce of standard gold.
Fourth-No bonds shall be delivered
to the parties of the second part or
either of them except in payment for
coin from time to time received here
under, whereupon the secretary of
the treasury of the United States
shall and will deliver the bonds as
herein provided at such places as
shall be designated by the parties Of
the second part Any expense of de-
livery 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
expenses and inevitable loss of bring
ing gold from Europe hereunder, and
as far as lies in their power will
exert all financial influence and will
make all legitimate effol is to protect
the treasury Of the United States
against Withdrawals of gold pending
the complete performance of this con.
tract.
To be Married March 4.
NEW YORK, Feb. 15.-The final
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