The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1907-11-22
antee Of the SOUND condition Of The peerse

aHu Lne SOUND condition OF our treasury.
All that our people have now to do is 10
go ahead with their normal business in a
normal fashion and the whole difficulty
disappears; and this end will be achieyed
act and as the real co" 'itions of the court-
try's business fully Warrant his now act
Ing. Sincerely yours.
Theodore Roosevelt.
Hon. George r. Cortelyou, Secretary of
the Treasury.
Treasury Statement.
Upon receipt OF President Roosevelt's
letter OF approval today the following
statement was issued by the SECRETARY of
the treasury:
nry, amounting to 500, 1856, 431. s5. is. with
the exception of a mall working balance,
now on deposit in all banks in every state
ma .er1itory IN the union. thu placing it
pie as far as possible under existing law.
The secretary OF the treasury. with the
an issue Of Panama bonds to the extent
of 350,000,Oo0. He has also, with the ap-
proval OF the president, awaited himself
or certain provisions Of the law applying
TO the transaction of the treasury In times
or emergency. These provisions are con-
tained In section 90 Of the act of juno 10.
1883. authorizing the issuance of interest
bearing certificates Of Indebtedness to run
for one year. Certificates bearing 3 per
cent. interest Will be issued to the extent.
II necessary, of 500 600 600.
The Panama bonds will serve as a meas
ure OF most substantial relief, for among
other things the law expressly provides
that they may be issued as a basis for ad-
ditional national bank circulation.
The proceeds of the sale OF certificates
provided for under the above section can
Pc deposited almost simultaneously with
Ihey can be made directly available at
points where the need is most urgent, and
esp ,ah 1or the movement of the crops.
Wnicn II properly accelerated will give the
greatest relief and result In the most i'm
mediate financial returns.
me acceptance Of subscriptions by the
With special reference to such use. Both
the bonds and certificates are attractive
as absolutely safe investments.
things. enable the secretary Of the treas
ury to meet public expenditures without
Withdrawing for that purpose any appre-
deposited in national banks throughout
the country.
Canal Bond Proposals.
The treasury circular inviting pro-
posals for Panama canal bonds reads as
! follows:
Treasury Department, onice of the Sec
rotary, Washington, D.. c.. Nov. ID. 1907
public $50. 100000 OF the bonds OF the PAN
the act approved June %, 1902 and supple-
mented by section l of the act Of Deceln-
her q, 1906. Both acts are quoted below.
III OLO Will UedI interest ut the rate or
gust 4. 1906. and the interest will be paid
quarterly on the first days Of November.
E 1se6rd Ty' May ayn and August It, III s,S will be
$1,000 OF upo bonds, and of $50, 500,
$1,000 and 10000 Of registered bonds. They
will be redeemablc in United States gold
after ten years from the date of their
from such date. They. will be exempt
fro" all f0~ao mr. 1nfioc ~ |1a ~
States. as well as from taxation in any
form by or under state. municipal or local
authority. They will be available to ma
cent. consols Of 1880. to-wit: The semi-an-
nual tax upon circulating notes based up
ceivable. like all other United State,
bonds, as security for public deposits In
sale at less than par and provides that
all citizens of the United States shall have
equal opportunity to subscribe therefor.
Bids Invited.
In pursuance OF the above announce
ment the secretary invites bids for the
bonds heretofore described. Each bid
should state the amount Of bonds desired
by the subscriber. whether coupon or reg
istered. the price he is willing to pay and
the place where he desires to make such
payment, whether at the treasury of the
United State. or at the office of some of
HSIlS ~ NEW IOEk. 6HI.
Louis. Cincinnati. New Orleans or san
Francisco. All bids should be addressed
Of loans and currency, and the envelopes
inclosing the bids marked plainly Bids
for Panama bonds" Upon receipt and
tla= Of the bids n hereby invited
the acceptance OF their bids and they win
be instructed as to the date upon which
paymen Is desired to be made at the
tr0n SI1rV ar S1lhtrao SI1r 80 %I@ a
States.
In considering bids the bidders offering
the highest prices will receive the first
ing the same price, those asking for the
smaller amounts of bonds will receive pri-
ority in ll s,I The department re-
ing the highest prices to increase the
amount of their purchases.
For the sake of uniformity the bonds
date Of the outstanding Panama canal
bonds, but interest on the bonds Of this
issue will begin November 1, 1907, and
t G'aae1s o %'li their ea r b9nds aro to pay ACCRUED ds1 r ed
the date Of payment. The department also
reserves the right to reject any or ali
tho 9las' u n ade9 sfate to So be to TO d the int interest nan@ Of
will be ready for delivery upon receipt
of payment thereof.
Prospective bidders desiring information
the secretary Of the treasury, division Of
loans and currency. Washington, d. c.,
the assistant trcasurers at Chicago, st.
Louis. New Orleans and San Francisco.
George Il. Cortelyou, Secretary.
For $1oo,0oo,0oo Certificates.
The treasury circular asking for sub
scriptions to the 500. co., 900 3 per cent. GER
tit feet , Of Indebtedness reads as follows:
rotary, Washington, D. c.. Nov. Is, 1901
The secretary Of the treasury offers to
from November 30. 1907, 500, 5000 Of the
certificates of Indebtedness authorized by
section 30 Of the act of June 10, 1898.
The certificates will be Issued in de-
nominations Of $50: They will be payable
to bearer, will be dated November 30. 1901.
and will bear interest at the rate Of )
per cent. per annum, payable with the
principal sum on and after November 20,
1908. on presentation OF the certificates
for redemption at the Office of the sec
rotary of the treasury. division OF loans
and currency.
Subscriptions will be received by the sec.
rotary of the treasury direct or through
the, treasurer of the United states or the
assistant treasurers located at New York.
baltimore Ph;la0olnhio PosfCp Chtnn-o