The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1895-05-17
THE BOND CONTRACT
CLEVELAND KEEPS IT BEFORE
THE PEOPLE.

THE PEOPLE.
Conspiring to Defraud-The Contrac.
for Bond Deal by which American
Liberty was in the Most Diseraceful
Manner Surrendered.
This agreement, entered into the 9Th
day of February. 1895, between the sec
rotary of the treasury Of the United
States, Of the first part, and Messrs.
August Belmont & Co., of New York, on
behalf of Messrs. N. NJ. Rothschild &
Sons of London, England, and them
selves; and Messrs. j. F. Morgan & 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 tsec.
ton 37OO) 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, can Act to Pro-
vide for the Resumption of Specie Pay
ments," approved Jan. IA, 1876, being
bonds of the United States described in
an act of congress approved July IA,
1870, entitled, can 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 $500, 900
ounces of standard gold coin of the
United States, at the rate Of S17. 80441
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 4 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 hereunder shall be obtained
in and shipped from Europe, but the
shipments shall not be required to ex.
coed o. $1,000 ounce per month, unless
the parties Of the second part shall con.
sent thereto.
2. All deliveries shall be made at any
OF n s~ubtreasuries or at any other
legal depository of the United States.
3. All gold coin delivered shall be re.
celved on b 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 &C.
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 thu
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 oil
the second part.
H
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 coir
of the present weight and fineness, fol
the bonds herein alluded to; such 8 pei
cent bonds to be accepted by the par.
ties of the second part at par-that is
at '$18, 60465 per once Of standard gold
Fourth. No bonds shall be deliver.
ed to the parties of the second part, OF
either of them, except in payment fol
coin from time to time received here.
under; where, upon the secretary Of the
treasury of the United States shall anG
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 anG
paid by the parties of the second part
Fifth. In consideration of the pur