The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-06-14
REVENUE BILL SENT TO THE
w.. PRESIDENT
AND He PROMPTLY SIGNS IT
Secretary of the Treasury Gage Issues
Circular Concerning the
War Bonds
Associated Press Special Wire

enue bill was brought to the White House
by House messenger at 1:25 and was
signed by the President at S:01 O'Clock.
Immediately upon receipt Of information
from the White House that the War Rev
enue bill had been signed by the President,
Secretary Gage issued the following circu-
lar, explaining to the public the proposed
bond issue:
Treasury Department, office OF the Sec
rotary, Washington, D. c., June Is, 1898.
The Secretary Of the Treasury invites sub
scriptions from the people Of, the United
States for $2OO,O00,OC0 OF the bonds of the
three per cent loan authorized by the act
Of Congress, approved June 10, 1898. Sub
scriptions will be received at par for
period of thirty-four days, the subscriptions
being open from this date to clock p. m,
on the 18th day of July, 1898. The bonds
will be issued in both coupon and register
ed form, the coupon bonds of denomination
CT $40, 500. $500 and $1,000, and the registered
bonds in denominations Of $50, 500, $500,
$1,000, $4,000 and $4,000. They will be dated
August 1, 1898, and by their terms will be
redeemable in coin at the pleasure OF the
United States after ten years from the
date of their issue, and due and payable
August l. 1918. The bonds will bear interest
at the rate of per cent per annum, payable
quarterly; the interest on the coupons will
be paid by means of coupons, to be detached
from the bonds as the interest becomes due
and the interest on the registered bonds
will be paid by checks drawn to the order
of the payees, and mailed to their addresses.
The law authorizing the issue Of these
bonds provides that in alloting said bonds
the several subscriptions of individuals
shall be first accepted and the subscriptions
of the lowest amounts shall be first allotted.
In accordance with that provision allot-
ments to all individual subscribers will be
made before any bonds will be allotted to
other than individuals. All individual SUBJ
scriptions for $500 or less will be allotted in
full as they are received, and such subscrip-
tons must be paid in full at the time ahd
subscription Is made. If the total sum
subscribed for in amounts Of $500 should
exceed $500, 100000, the allotments will be
made according to the priority OF the re-
ceipt Of these subscriptions.
Allotments on subscriptions for over $500
will not be made until after the subscrip-
ton closes, July 14th, and will then be made
inversely according to the size of the SUBJ
scription, the smallest subscription being
first allotted then the next in size and so
on, preferences being given to individual
subscriptions Persons subscribing for
more than $500 must send in cash or certi-
fled checks to the amount of per cent
of the sum subscribed for, such deposit to
constitute a partial payment. and to be
forfeited to the United States in the event
of failure on the subscribers part to make
a full payment for his subscription accord
0f t.
ments to subscribers for more than $500
will be made as soon as possible after the
subscription closes.
In order to avoid a too rapid absorption
of funds into the treasury, with posi-
BILE consequent evil effect on industry and
commerce, any subscribers for more than
$500 will be permitted to take his allotment
of bonds in installments of per cent, tax
ing the first installment within ten days
after the notice of the allotment and the
balance at four equal intervals OF forty
DAYS each, in four installments each Of 20
per cent of the bonds allotted. Delivery OF
bonds will be made in installments as pay
ment for them is received, and payment
must in all cases be made in full as the
bonds are taken. The 2 per cent deposit
will apply in the final statement. Any sub
scriber. may pay for the whole amount
allotted him within ten days from the date
of the notice of his allotment. Interest
will be adjusted from the time of the ac-
t,al payment, whether paid in one sum or
in installments, as permitted. Separate
subscriptions from one individual, although
made from time to time, will be aggregated
and considered as one subscription. Tho
Secretary of the Treasury will receive in
payment of the bonds postofiice money or
ders. payable at Washington, D. c., and
checks, bank drafts and express money or
ders colectible in the cities of New York,
Boston, Philadelphia, Baltimore, Washing
ton, Cincinnati, Chicago, st. Louis, Now
Orleans and San Francisco. All money or
ders and bank drafts must be drawn in
favor of the Treasurer of the United States.
The money orders and bank checks SO re-
ceived will be forwarded for collection by
the department and as soon as returns arc
obtained the subscribers will be credited
with the amount of his subscription as of
the date of collection.
The Secretary will also receive in pay
ment for the bonds certificates of deposit
issued by the Assistant Treasurers of the
United States in the above named cities. Tha
certificates of deposit may be obtained from
any Assistant Treasurer in exchange for
gold coin, gold certificates, standard silver
dollars, silver certificates. United States
notes, Treasury notes of 1890 and National
Bank notes; and the subscriber will be cred
tied with the amount of his subscription as
of the date of the certificate of deposit. The
Secretary will also receive currency sent by
registered mail or by express direct to the
Urea Sury Department
For the actual convenience of the SUBJ
scrbers and the department blank form of
letter to accompany remittances has been
prepared, and 1t may be obtained at the
offices of the national and State banks gen.
orally, at the several sub-treasuries of the
United States, at any money order post
office and at any express office.
The bonds will be dated August /, 1898,
and they will be delivered to subscribers free
of expense for transportation as soon after
that date as possible. The bonds will be ac-
companied by check for the amount of the
Interest due the subscriber from the date
of his payment to August l, 1885,
All remittances and other communications
relative to this loan should be addressed to
the Secretary of the Treasury. Division of
Loans and Currency. Washington, D. C.
All subscriptions must be received at the
Treasury Department, Washington, d. c..
not later than o'clock pm. Wednesday,
July IA, 1885, No subscriptions received af-
ter that date and hour will be considered
L. ]. GAGE, Secretary.
-4>b
A Life Sentence