The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-15
THE GOLD STANDARD BILL.
The President A1iixes His Signature
and 1t Becomes Law.

Signed With Fen Made of the Yeti
low Metal and Furnished by Mr.
O,erstreet-A Coincidence Called
to Mind by Mr.. Mckinley - !
Circular From the Treasury
The Financial bill passed by the House
| Tuesday afternoon was taken to the White
| House shortly before / o'clock yesterday
| by Representative Overstreet of Indiana.
who presented it to the President in per
son. and gave MFR. Mckinley the gold pen
with which it was signed. The signature
making the bill law was attached at
l2:46 O'Clock, in the presence only of Rep
resentatiVe Overstreet, Secretary Cortel-
! you, and three representatives of the
| press.
When the President dipped the new pen
! in the ink he paused for a moment and
I then thoughtfully remarked that it was
singular coincidence that all the great
financial measures had been signed on the
l4th of the month, the Refunding act, the
| Sherman act. and the Resumption act, all
having been signed on that day, though
not in the same months. And, to make
| the coincidence more striking, il was just
fourteen minutes of l O'Clock when he fin
! lshed the final letter in his name and laid
! the bill aside.
| Before attaching his official signature
| the President asked Mr.. Overstreet If be
! had read the bill and was certain that
| there were no errors. The latter replied
| that there were none of any nature. and
/ that the bill as before him was correct
! in every particular. After the act of
| signing had been accomplished the Presi-
dent handed the pen to Mr.. Overstreet,
who said that he intended 1t for Mr.. H. H.
] Hanna, of indianapolis. Immediately
after the bill had been signed it was sent
by a special messenger to the State De-
part ment.
Immediately after the bill became
law the following circular was issued from
the Treasury Department:
TO holders OF United States per cent
bonds of the act of January IA, 1875. per
cent consois of 1907. acts of July IA. 1870,
and January 20, 1871, and per cent bonds
of 1908 act of June 13. 1898:
The attention of the owners of the
| United States registered and coupon bonds
of the per cent loan of 1904. act OF
January IA. 1875, and the 4 per cent
consuls of 1907, acts of July a. 1870. and
January, 1871. and the 3 per cent loan OF
1908, act OF June 13, 1898. Is invited to the
provisions of section IL OF an act entitled
An act 10 define and, fix the standard of
value, to maintain the parity of all forms
of money issued or, coined by the United
States, to refund the public debt and for
other purposes approved March Ia, 1909.
Under the provisions of this law the
Department will be prepared to receive ON
and after this date Until further notice
any of the bonds issued under the acts
above mentioned, and as early as practics-
10. fN.,-
for like amount OF Cnited States register
ed or coupon bonds. bearing interest at
the rate of per cent Der annum, as pro-
vided by the act approved March IA. 1900.
To effect the exchange the outstanding
bonds should be surrendered to the Sec
retary of the Treasury il accordance with
the terms of the circular. They will be
accepted for that purpose In the order of
the surrender Of them to him and new
bonds bearing interest at the rate of per
cent per annum will be ISSUED in the same
order in lieu thereof
"A letter of transnlittal should accom-
pany each package of bonds for exchange,
setting forth the purpose for which they
are forwarded anu giving the address to
which the new bonds and checks for the
interest thereon shall be sent.
Bonds held by the Treasurer of the
United States in trust for national hank
may be surrendered by letter addressed
to the Secretary of the Treasury, accom-
panied with the Treasurer's receipt repre-
senting the bonds. together with reso-
luton of the board of directors of the
bank authorizing the Treasurer to assign
the bonds
The priority of issue of the new bonds
VIII be determined by the date of the re-
ceipt by the Secretary Of Sle Treasury of
the outstanding bonds or the papers repre-
senting the same. provided that the bonds
or papers are in proper condition for such
surrender, as set forth hereafter in this
circular. II any correction is required the
priority of the bonds 10 be issued will take
date from the receipt and acceptance of
corrected bonds or papers at this Office.
ANY registered bonds forwarded should
be assigned to the Secretary OF the Treas
ury for exchange into per cent bonds
The assignment should be dated and wit
messed by one Of the officers named In the
note which is printed on the back Of each
bond. Where new bond is desired In the
name of anyone but the payee OF the old
bond the old bond should be assigned to
the Secretary OF the Treasury for exchange
into per cent bonds for aeeoaat of -
- Here insert the name of the
person In whose favor the bond is to be |
issued)
Registered bonds inscribed in the nams
OF an institution forwarded for exchange |
must be accompanied by a resolution of !
the board of directors OF the institution |
authorizing their assignment to the Sec |
retary of the Treasury for such exchange |
The resolution must bear the seal OF tha |
institution, or If the institution have no |
seal there must be furnished with the |
resolution an affidavit setting forth that |
fact.
Upon the acceptance OF any bonds for |
exchange under the conditions of this cir |
alar ffa
bonds to yield income OF = l. per cent |
per annum will be calculated as of the date |
Of their acceptance, except as provided in
the next paragraph and the sum repre-
senting the difference between the present |
worth OF said bonds and their par value
will be paid to the owner thereof in due
course by check drawn in his favor by
the Treasurer of the United States The
settlement will include payment by The
bonds TO the date OF their acceptance for
exchange and charge against the owner
for accrued interest sn the new bonds from
the date of their issuerto said date of ae-
ceptance. i-s
Bonds surrenderea upon which interest
has been prepaid neers n01 he accompanied
by deposit to cover such prepayment. as
the department will Iie6utt at the time of
the settlement any aInohnt which NAV be
due OIL account of the matured interest which
dated April /. 1900: therefore all outstand-
ing bonds surrendered foE exchange and ac-
GRIPS AWFUL WORK.