The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-04
ISSUE of BONDS.
Provisions OF an Important Feature
of the War Revenue Bill.

Oh the WAr ASVeMuS DAAAs
WASHINGTON, June S.--Following is the
provision for the issue of bonds incor-
porated by the Senate in the war revenue
measure:
That the secretary of the treasury IL
authorized to borrow from time to times
at rate of interest not exceeding per
cent. per annum. such sum or sums as. In
his judgment, may be necessary 10 meet
public expenditures, and to issue therefor
certificates of Indebtedness in such form as
he may prescribe and in denominations OK
$50 or some multiple OF that sum; and each
certificate so issued shall be payable, with
the interest accrued thereon at such time
not exceeding one year from the date of its
issue, as the secretary of the treasury may
prescribe: Provided That the certificates OF
Indebtedness authorized by this section shall
from time to time be first offered whenever
practicable at popular subscription under
such regulations, to be prescribed by the
secretary Of the treasury, as will give op,
portunity to the citizens of the United
States to participate in the subscriptions TO
such certificates: Provided further, That
shall al no time exceed 500. 900 900; and that
at least $50, 900 of said certificates herein
authorized shall be issued before any of the
bonds provided for in this act shall be is
sued sold or disposed of. and the provisions
of the existing law respecting counterfeit
ing and other fraudulent practices are
hereby extended to the bonds and certifi-
Gates of Indebtedness authorized by this
act.
hereby authorized to borrow on the credit
of the United States from time to time as
the proceeds may be required to defray ex-
penditureS authorized on account of the ex-
listing war (such proceeds when received to
be used only for the purpose of meeting
such war expenditures The sum of $780,
600 000 or so much thereof as may be nec~
essary, and to prepare and issue therefor.
at not less than par. coupon or registered
bonds of the United States in such form as as
he may prescribe, and in denominations or
$25 or some multiple of that sum- redeem
able in coin at the pleasure of the United
States after ten years from the date of their
issue, and payable twenty years from such
in coin at the rate of per cent. per annum:
and the bonds herein authorized shall be ex-
empt from all taxes or duties of the United
States, as well as from taxation in any form
by or under state, municipal or local au-
thority: Provided, That the bonds author
lied by this section shall be first offered as
d popular loan under such regulations to be-
prescribed by the secretary of the treasury,
a. will give opportunity to the citizens or
the United States to participate in the sub
scriptions to such loan: Provided, further,
That such bonds and certificates shall be
issued at par, no commissions shall be al
lowed thereon and in allotting such bonds
and certificates the several subscriptions or
individuals shall be first accepted and the
subscriptions for lowest amounts shall be
first allowed; and sum not exceeding one
half of / per cent. of the amount of bonds
herein authorized is hereby appropriated to
pay the expense of preparing, advertising,
issuing and disposing of the same