The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1898-01-13
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deemable in gold coin, at the option of
the United States, after one year, and
the proceeds of all such sales shall be
paid into the division of issue and re.
demption for the purposes aforesaid.
H. To provide for any temporary
deficiency which may at any time exist
in the fiscal department of the treasury
of the United States the secretary of the
treasury shall be authorized at his dis
| Creton TO issue certificates of indebted
ness of the United States, payable in
from one to five years after their date.
to the bearer, of the denominations Of
| $50 or multiples thereof, with interest
at rate not to exceed 3 per ccntuIn per
annum, and to sell and dispose of the
same for lawful money at the treasury
department and at the subtreasurics
and designated repositories of the Unit.
ed States and at such postoffices as he
: may select. And such certificates shall
have the like privileges and exemptions
| provided in the act TO authorize the re-
funding of the national debt, approved
July If, 1870.
IL. Whenever money is to be Dor.
rowed on the credit of the United States
the secretary of the treasury shall be
authorized, instead of issuing the usual
forms of engraved bonds upon receiving
lawful money Uf the United States in
sums Of not less than $50 in any single
payment, to cause a record Of all such
payments to he made in books to be
kept for that purpose i'll Washington
aud thereafter from time to time to pay
to those 50 registered on such books in
terest not exceeding 3 per cent per an.
mum in gold coin on the amount with
which they shall sCverally stand credit.
ed on such books III the same manner
and at the same dates as if they were
the holders and owners of registered
bonds of the United States, and he shall
also pay TO those so registered the prin-
cipal sum originally deposited in gold
coin at the date of maturity of such in
scribed loans. Suitable arrangements
shall be made at each and every money
order postoflice i'll the United States for
receiving such payments into the treas
ury ON like terms as well as for the
transfer, on proper Identification, of any
= inscription on the books in Washington
or of any part thereof not less than $50.
No interest shall accrue or be paid on
inscriptions which shall have been re-
J duced below $50. No charge of any
kind shall be made by any department
or officer of the government for any
service in connection with the receipt ol
r transmission of the lawful money ol
in the transfer of inscriptions on tn,
books at Washington.
l3. The division of issue and redemp
ton shall ON demand at Washington
and ut such subtreasuries of the UnitGC
States as the secretary of the treasury
may from time to time Designate
(a) Pay out gold coin for gold certit
, Gates
(b) Pay ont gold coin in redemption
of United States notes or treasury note
of 1890.
Co Pay out silver dollars for silvc
certificates Of any denomination.
Cd Issue silver certificates Of demon
nations Of 81, So and So in eXchaug,
for silver dollars and for silver ccrtiti
Gates in denominations above So.
(e) Pay out gold coin III eXchangc
for silver dollars.
(fD Pay ont silver dollars in exchange
for gold coin, United States notes o.
treasury notes,
co Pay out United States notes O
% treasury notes not subject to immediate
cancellation in exchange iur gold coin,
= (h) Pay out and redeem subsidiar,
and minor coins as provided by eXisti9.
laws.
G) Pay ont United States notes in eN
change for currency certificates.
. IL United States notes or trcUsur,
! notes once redeemed shall not he UGi,
: out again except for gold coin, uni@a
l there shall lu an accumulation Of suc,
notes in the division Of Issue and II
< demptiOn which cannot then be cancel
ed under the provisions Of the act j.
= which case the secretary Of the trcasur.
Q shall have authority if in his ludgmeu
4 that course Is necessary for the publ
j welfare, to invest tho same or any pGr
n tion thereof in bonds Of the Unite
States for the benefit Of tho redemption
4 fund, such bonds to be held in the di
e vision of issue and redemption subjcc
@ to sale at the discretion Of the sGcretar
n Of the treasury for the benefit of the di
Il vision of issue and redemption and no
. FOR any other purpose.
s Is. The secretary of the treasur,
u shall be authorized to sell from tim
a to tins, at his discretion, any silve
g bullion in the division of issue and re
g demption, and the proceeds in gold G
o such sales shall he placed TO the accoun