Year: 1870

particular bonds so as to be paid
and Cancelled shall in all cases be
indicated and specified by the class,
date and number In the order of
their number and issue, Sbeginning
will, the first numbered and issued,
public notice to be given by the
Secretary of the Treasury, and in
three months after the date Of such
public notice, interest on bonds so
selected and advertised to lie paid
shall cease.


SEC. 5. Be 1t 1f'urther enacted, That
the Secretary of the Treasury is
hereby authorized at any time with
in two years from the passage of
this act to receive gold coin of the
United States on deposit for not
less than 80 days in sums of not
less than 800 with the Treasurer,
or any assistant Treasurer Of the
United States authorized by the
Secretary of the Treasury to receive
the same who shall issue therefor
certificates of deposit made in such
form IS the Secretary of the Treas
ury shall prescribe, and said certifi
Gates of deposit shall bear interest
at rate not exceeding two and a
half per cent. per annum, and any
amount of gold coin so deposited
may be Withdrawn from deposit at
any time after thirty days from the
date of deposit and after ten days
notice, and en- the return of said
certificates, provided that the inter
est on all such deposits shall cease
and determine at the pleasure of.
the Secretary Of the Treasury, and
not less than twenty-five per cent.
of coin deposited for or represen
ted by said certificates of deposits
shall be returned in the Treasury
for the payment of said certificates
and the excess beyond 25 per cent
may be appliedeat the discretion of
the Secretary of the Treasury to
the payment and redemption of
such outstanding bonds Of the Uni
ted States heretofore issued and
known as 5 30 bonds, as may be
designated under the provisions of
the fourth section of this act, and
any certificates of deposit issued as
aforesaid may be received at par
with the interest accrued thereon,
in payment for any bonds author
lied to be issued by this act.
| SEC. 6. BE 1T further enacted, That
the United States bonds purchased,
and now held in the Treasury In &C
cordance with the provision relating
F, to sinking fund of section five of
/ the act entitled an act to authorize
the issue of United States notes,
and for the redemption Or funding
thereof, and for funding the float
ing debt of the United States. APP
proved February 25,. 1862, and all
other United States bonds which
have been purchased by the Secre-
tary of the Treasury, with the sur
plus funds in the Treasury, and now
held in the Treasury Of the United
States, shall be Cancelled and des-
troyed 10 be first made in the books
Of the Treasury Department. Any
bonds hereafter applied to said
sinking funds and all other United
States bonds redeemed and paid
hereafter by the United States shall


also in like manner be recorded
Cancelled and Destroyer. and the
amount of the bonds Of each class
that have been Cancelled and des-
troyed shall be dedncted respec-
lively from the amount Of each
class Of the outstanding debt of the
United States in addition to the
other amount that may be applied to
the redemption or payment Of the
public debt, and all amount equal to
the interest on all bonds belonging
to the aforesaid sinking fund shall
be applied as the Secretary of the
Treasury shall from time to time
direct to the payment of the public
debt, as provided for in section 5 of
the act aforesid, and the amount SO
to be applied is hereby appropriated
annually for that purpose out Of the
receipts for duties on imported
goods.