The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1897-12-24

Secretary Cages bill ,sas follows


A bill to provide for the refundng Of the a.
tional deDt. Tor estaf Aishing a redemption <cni.
and division Of Is sue and redemption IN the
treasury OF the United States, and - mo iify
existing laws res pectlng national hs.lks, and
for other p1rpos A.
BE 1T ENACT I'D. ETC. That here be estab-
iishea IN the u easury department a part Of
the once OF y o. treasurer 81 the United states
auiVlsloh 70 be designated and known the
DIVISION oi ssue and redemption, TO which shall
% ass'Rne 4 under such regulations as the sec
Ictaly ~ ne treasury may approve all records
ana aeco Ants relating to the issue. redemption
u q 81 AAnge as hereinafter provided of the
sesera' classes OF United states paper money
lhete shall be transferred from the general
hd In the treasury OF The United States and
taf IN Up on the books OF said division as a re-
o. fzpsaon fund the sum 81 fl-5,0U,OJO IN United
s,'ais> gold coin and bullion. and such further
SUMS OF standard silver dollars and silver bull
lion purchased under the act OF congr IS ap-
preved July H. 1891 as shall eaual the silver
certificates outside the treasury. and treasury
notes OF 1871 outstanding on the date when
this act shall take effect: and there lfter the
gold and silver coin and bullion hereby trans
ferred from the general fund in the treasury as
herein provided. shall be increased dimin-
ished. - the case may be. in accordance with
the provisions OF this act. and in no other way
SEC. . That all United States notes treas
ury LJJcs 81 1890 and silver certificates present.
ed for redemption, shall be- redeemed from the
redemption fund herein provided in accordance
with the terms OF existing laws but the notes
and ertihcateS redeemed shall be held in
and constits'e a part of said fund. and shall not
be Withdrawn from said: fund nor disbur,ed ex-
cept n exchange for an equivalent amount OF
coin redeemed. but to enable the secretary OF
the treasury more thoroughly to carry out the
provisions contained in this act. he Il hereby
authorized TO exchange any OF the funds In the
division OF issue and redemption for any other
funds which NAV be in the general fund in the
treasury department Provided that snothinQ
IN this act shall be construed OF repeating the
provision Of the act approved July a. 1870
which provides that there shall be outstanding
at any time no more and no less OF the treasury
notes authorized by said act than the silver
bullion and standard silver dollars coined
therefrom then held in the treasury purchased
with said notes
and is hereby authorized To receive at the treas
any any Of the outstanding bonds known as the
. per centum bombs Of 1904: and the per cent
um consols OF 1907, issued. respectively, under
the act approved January H. 1873 and the acts
approved July H. 1870. and January ~ 1871 an.
% issue in exchange therefor coupon or regis
tered bonds, OF the United States IN such form
rs he may prescribe, in denominations OF $50
or some multiple OF that sum bearing interest
az the rate OF 4 per centum per annum. paya-
bic semi-annually and redeemabe at the pleas
ure OF the United States. after ten years from
the date OF their issue; and the bonds hereby
authorized shall be payable. principal and in
terest in United States gold coin OF the pres
ent standard value, and shall be exempt from
ali taxation by or under state. municipal or To-
cal authority. provided. that none OF the out
standin.. bonds shall be received at valuation
greater than their present worth to yield an in
come ~ ~ per centum per annurl. and that the
bonds hereby authorized shall be issued al not
less than par.
SIC. 4. That the bonds authorized by this act
and any other bonds ~ the United States may
be deposited with the treasurer of the United
states as security for the circulation notes Of
NATIONAL banking associations. and any national
banking association which may deposit the
bonds herein authorized TO be deposited as Sc
curity for its circulating notes shall be entitled
g. receive from the comptroller Of the currency
and 20 issue such notes TO an amount equal 10
The face value OF such bonds Provided that
the aggregate amount Of bonds deposited by