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

THE BOND CONTRACT.
= Text OF the Much Talked OF Aeres-
ment with the Bankers.
WASHINGTON, Feb. l5.-;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 g.
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 Unitec States lsection s7OO)
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 uchasterms. as he may deem
most advantageous to the public in
sterests; ana the secretary of the
treasury now deems thatSan emergen-
q exists in which the public inter-
ests require that, as hereinafter pro-
vided, coin shall be purchased with
the bonds of the United States of the
description hereinafter mentioned,
authorized to be issued under the act
entitled San act TO provide for the
resumption of specie payments" APP
proved January ii, 1878, being bonds
of the United States described in an
act of congress- approved July IA,
1870, entitled Attract to authorize
the refunding of the national debt"
Now, therefore, the said parties of
the second part hereby agree to sell
and deliver to the United States
3,50G, 900 ounces of standard gold coin
of the United States at the rate of
ST. S0441 per ounce, payable in United
States 4 per cent thirty year coupon
or registered bonds. said bonds to be
dated Februarya1 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 go, 1871, and January
Ia, 1875, bearing interest at the rate
of 4 per cent per annum, payable
quarterly. G 3
First-Such purchase and sale of
gold coin being made on the follow
conditions.
WA lcdSO Ouc-llbLl VI oil COIN O6-
livered hereinunder shall be contained
in and shipped from Europe, but the
shipments shall not be required to
exceed 800, 900 ounces per month, IN
less the parties of the second part
consent thereto.
(2)-All deliveries shall be made at
any of the s~ub-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, if within
limit of tolerance.
4)-Bonds delivered under this con-
tract are to be delivered free of ac-
crued interest:which is to be assessed
and paid by the parties of the second
part at the time of their delivery tc
them.
Second-Should the secretary of
the treasury desire to offer or sell any
of the bonds of the United States on
OF before the LIST of October, 1895, he
shall first ofer the same to the par
ties OF the secoud part; but thereafter
he shall be free from every such obi
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-
ceivc authority from congress there
for, to substitute any bonds of the
United States bearing 8 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 tineness, for the
bonds herein alluded to; such 3 per
cent bonds to be accepted by the par
ties of the second part at par; i. e., at
$1s. 6O465 per ounce of standard gold.
gFourth-Nobo 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 ts to protect
the treasury of the United States
against Withdrawals Of gold pending
the complete performance of this con.
tract.
CRfME ~ RS ELBE.
Shocking Story Relat ted by Eugene
Schlegel az to Mr.. Hoffman's Son.