Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1895-02-22
THE BOND CONTRACT.
Full Text of Agreement With Bankers to
Replenish the Gold Supply

The full text OF the bond contrac. is as
follows:
This agreement, entered into this 9Th day
OF February, 1895, between the Secretary OF
the Treasury of the United States of the first
part. and Messrs. August Belmont & Co., of i.
New York, on behalf OF Messrs. N. NJ Roths-
chill d & Sons, OF London, Eng'anl, AID
themselves, and Messrs ]. P. Morgan d Co.,
of London. and themselves, parties Of the
second part, witnesseth:
Whereas, it is provided by the Revised
Statutes OF the United States (section BOD
that the Secretary of the Treasury may pur-
cha-e coin with any Of tho bonds or NOES OF
the United States authorized by law a;such
rates ID upon such terms as he may deem
most advantageous to the public interests.
and the Secretary OF the Treasury nov deems
that an emergency exists in which the public
interests require that, as hel einatcT provided
coin shall be purchased with the bonds olthe
United States OF the description hereinafter
mentioned, authorized to be issued under
the act entitled San act to provide for the re-
sumption OF specie payments" approved
January IA, 1875, being bonds OF ths United
States de. Grill ed in an act Of Congress ap-
proved July IA, lS7 entitled IAN act 10
authorize the refunding Of the national debt"
Now, therefore, the said pir;ies o. the Sec
and part hereby agree t. sell and to del yer
TO he United States 8, 500, COB ounces ofstand-
ard gold coin OF the United States at the rate
OF SIT SO441 per ounce, payable in United
States Ter celt. thirty-year coupon or regi-
s:ered bonds, said bonds to be dated Febru-
airy Z, 1895, ard payable at pleasure OF the
Unitel STATES after thirty years from date, is
sued under the acts Of Congress OF July IA,
1870, January 90 1871, and January IA, 1875,
bearing interest at the rate OF per cent per
annum, payable quarterly
First-Such purchase and sale Of gold cola
being made on The following conditions:
/. At least one half OF all-coin deliverab'e
hereinunder shall be obt .ined in and shipped
from Europe, but the shipment shall not be
required to exceed three hundred thousand
ounces per month I'm ess the parties OF the
second par, shall consent thereto.
2. All deliveries shall be made at any OF
the sub.treasuries or at any other legal de-
pository OF the United States.
8. All gold coins delivered shall be secured
on III, basis Of twenty-five and eighteen hs
grains OF standard gold per dollar if within
limit OF tolerance.
4. Bonds delivered under this contract are
10 be delivered free OF zee ued interest, which
is to he assumed and paid by the parties oil
the econd part at the time OF their delivery
TO them.
Second-Shoud the Secretary OF the Treas
ury desire to offer or sell any of the bonds
of the Uaited atos on or before the first OF
October, 1897 he shall fist Offer the same tc
the rarti OF he second part, but thereafter
ne will lie free from every such obligation to
the parties o, the seconi part.
ThIrd-The Secretary of the Treasury here.
by reserves the right within ten days from
the date hereof, in case he shall receive au-
thorty from Congress therefor, to substitute
any bonds Of the United States bearing three
per GEN.. interest, of which the principal and
intere shall BIZ specifically payable in
United States gold coiL OF ihs present weight
and flneness for the bonds herein alluded to
such per cent bonds TO be accepted by the
parties OF the second part at par e., al
S1S. 6O465 per ounce Of standard gold.
Fourth-No bonds shall ba livered to the
parties Of tne second part or either OF them
except in paymentfor c)in from tim, to time
received hereunder whereupon the Secretary
of the Treasury OF the United States shall
and will deliver the bonds as herein provide
at such places as shall be designated by the
parties of the second part.
Fifth-Ia the consideration OF the pur-
chase OF such coin the parties Of the second
part and their associates hereunder assume
and will bear all the :expense and inevitable
loss of bringing Id from Europe hereunder
and "a far as lies in their power will exert al
financial influence and will make all legitl
mate efforts to protect the Treasury OF the
United States against Withdrawals of gold
pending the com plete performance OF this
contract.
In witness whereof the parties hereto have
hereunto set the handsin five parts this S.b
day OF February, 1895.
[Signedl J. G CARLISLE,
Sec.e AIRY of the Treasury.
AUGUST BELMONT Il Co..
On behalf OF Messrs. n VI. R)thschild d
Sons, London, and themselves
J. ?. MORGAN & Co.,
On behalf of Messr'. ]. S. Morgan Co.,
London, and themselves.
Attest; w. E. CURTIS, FRANCIS LYNDE