The Saint Paul globe., 1898-06-14
WAR REVENUE BILL A LAW
SIGNED BY PRESIDENT, VICE
PRESIDENT AND SPEAKER

Secretary of the Treasury Gage I'M
fmediately Issues a Statement In
forming the Public How to Pro-
ceed to Subsc ribe to the Loan and
Cent Bonds.
WASHINGTON, June 13.-The speak
er of the house and vice president hav-
ing signed the war revenue BILL it was
brought to the White house by messen-
ger at 2:45, and at 3:05 p. m. the presi-
dent attached his signature, the meas
ure thereby becoming a law.
Immediately upon receipt Of the in
formation from the White house that
the war revenue bill had been signed
issued the following circular, explain
| ing to the public the proposed bond is
sue:
/ The secretary of the treasury invites sub
scriptions from the people of the United
States for the s200, oc0 bonds of the 8 per
| cent loan, authorized by the act of congress.
approved June 49,. 1898. Subscriptions will be
received at par for period of thirty-four
| days, the subscription being open from this
| date to 3 p. m, on the 18th day of July, 1888
The bonds will be issued in both coupon and
registered form, the coupon bonds In denomi-
nations of $40, $1oo, $500 and $1,000, and the
$500, $1,000, 5000 and $4,000. They will be
| dated Aug. 1, 1898, and by their terms will
! be redeemable in coin at the pleasure of the
| United States, after ten years from the date
1918.
The bonds will bear interest at the rate of
per cent per annum, payable quarterly, the
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 this issue Of bonds
| provides that in allotting said bonds, the
several subscriptions Of individuals shall be
| first accepted, and the subscriptions of the
! lowest amounts shall be first allotted In ac-
| cordance with that provision, allotments to all
! any bonds will be allotted TO other than in
dividuals All individual subscriptions for 500
or less will be allotted in full, as they are re-
! ceived, and such subscriptions must be paid
| in full at the time the subscription Is made.
| If the total sum subscribed for in amounts
| of $500 or less should exceed s2OO,O0O,oO0, the
| ailotments will be made according to the prl-
] ority of the receipt of subscriptions.
| Allotments subscriptions for over $500
will not be made until after the subscription
| closes, July IA. and will then be made in
| versely, according to the size of the subscrip-
tion, the smallest subscriptions being first
allotted. then the next in size, next and SO
| scriptions. Persons subscribing for more than
$500 must send in cash or certified checks
to the amount Of per cent of the sum sub
scribed for such deposit to constitute & par
tial payment and to be forfeited to the United
States in the event of failure on the subscrib-
er's part TO make full payment for his sub
scription, according to the terms of the Cir
i eular. Allotments to subscribers for more
| than $500 will be made as possible
after the subscription closes.
In order to avoid too rapid absorption of
| FUNDS into the treasury. with possible
seQuent evil effect on industry and commerce,
| any subscriber for more than $500 will be
permitted to- take his allotment of bonds in
instal.ments of 20 per cent, taking 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
fnstallments each Of 20 per cent of the bonds
allotted. Delivery of bonds will be made in
installments, as payment for them is re-
4 made In full as the bonds are taken. The
! 2 per cent deposit will apply on the final in
stallment. Any subscriber may pay for the
from the notice of his allotment. Interest
will be adjusted from the time Of the actual
payment. whether paid in one sum or in in
tions from one individual, although made
from time to time. will be aggregated and
considered as one subscription.
4 The secretary of the treasury will recei q
in payment for the bonds, postoffice money
orders, payable at Washington, and checks.
bank drafts and express money orders col
lsctable in the cities of New York, Boston.
cinnatf Chicago, st. Louis, New Orleans
| and San Francisco. All money orders and
bank drafts must be drawn in favor of the
treasurer Of the United States. The mon ~
| orders and bank checks SO received will be
| forwarded for collection by the department.,
and, as soon as returns are obtained the sub
| scriber will be credited with the amount of
his subscription as of the date of collection
l The secretary will also receive in payment for
the bonds certificates of deposit issued by the
| assistant treasurer of United States in the
above named cities. These certificates of de-
| posit may be obtained from any assistant
treasurer in exchange for gold coin, gold
certificates, standard silver dollars, silver Ger
tifcates, United States notes, treasury notes
| of 1890 and national bank notes; and the sub.
| scr1ber will be credited with the amount of
| his subscription as of the date of the car
receive currency sent by registered mali
or by express direct to the treasury depart
| ment.
For the mutual convenience of the subscib-
ers and the department. a blank form OF
| letter to accompany remittances has been
prepared, and 1t may be obtained at tie Of
fees of national and state banks generally,
at the several sub-treasures of the United
States, at any money order postofice and at
| any express Office.
The bonds will be dated Aug. 1, 1898 and
they will be delivered to subscribers free
| of expense for Transportation as soon after
companied by a check for the amount OF
interest due the subscriber from the date OF
his payment to Aug. i, 1898.
| All remittances and other communications
relative to this loan should be addressed to
the secretary Of the treasury, divisions OF
loans and currency, Washington. D. c.
treasury a department washington g.
not later than 8 o'clock p. M, Wednesday,
July A. 1898. No subscription received after
that date and hour will be considered
Goo