Page:United States Statutes at Large Volume 18 Part 1.djvu/802

730 TITLE xu1.—THE PUBLIC DEBT. TITLE XLII. THE PUBLIC DEBT. Sec. Sec. 3693. Payment in coin. 3702. Duplicate for bonds destroyed, &<·. 3694. application of coin paid for duties. 3703. ln emmty for destroyed, &c., bonds. Sm in -fund. 3704. Duplicate of lost registered bond 3695. Cancelhttion of bonds redeemed or may beissued. aid. 3705. Indemnity for such missirig bond. 3696. Aclldition to sinking—fund. 3706. Exchange of registered for coupon 3697. Redemption of six per cent. bonds. bonds. 3698. Payment of interest. 3707. Credit to officers for stolen notes. 3699. Anticipation of interest. 3708. Imitating United States securities, 3700. Purchase of coin. or printing business cards, &c., 3701. Exemption from taxation. on them; penalty. P¤>`m¤¤*i¤ will- Sec. 3693. The faith of the United States is solemnly pledged to the " ]g`jQ._@9_ ,Q payment in coin or its equivalent of all the obligations of the United States 1, v. 16, p. 1. not bearing interest, known as United States notes, and of all the interest— bearing obli tions of the United States, except in cases where the law authorizing 5:2 issue of any such obligations has expressly provided that the same may be paid in lawful money or other currency t an gold and silver. But none of the interest-bearing obligations not already due shall be redeemed or paid before maturity, unless at such time United States notes are convertible into coin at the option of the holder, or unless at such time bonds of the United States bearing a lower rate of interest than the bonds to be redeemed can be sold at par in coin. The faith of the United States is also solenmly ledged to make {provisions at the earliest practicable period for the reclhmption of the nited States notes in coin. fPPll°¤ti°¤ _¤f Sec. 3694. The coin paid for duties on imported goods shall be set @HP‘HdI!£l.‘}Uf’*'· apart as a special fund., and shall be applied as follows: P°3’m°“l* °{_);!" First. To the payment in coin of the interest on the bonds and notes (fg? °“ pu “` of the United States. 25 Feb., 1862, 0. 33, s. 5, v. 12, p. 346. Si¤kl¤z·f¤¤d- Second. To the urchase or payment of one per centum of the entire debt of the United) States, to be made within each fiscal year, which is to be set apart as a sinking—fund, and the interest of which shall in like manner be applied to the purchase or payment of the public debt, as the Secretary of the Treasury shall from time to time direct. Third. The residue to be paid into the Treasury. Cancellation of Sec. 3695. All bonds applied to the sinking-fund, and all other United l*°!:,d°*'°*l°°'“°‘l"' States bonds redeemed or paid by the United States, shall be canceled P?' ‘ and destroyed. A detailed record of the bonds so canceled and dcstro ·ed 5 _1_+ July, 1870. <·. shall be first made in the books of the Treasury De rtment. Tl1G §·2$]~ s· °· "· 16, l‘· amount of the bonds of each class that have been canccledu and destroyed “"" shall be deducted res ctively from the amount of each class of the outstanding debt of the United States. _ Aqdirionmsink- Sec. 3696. In addition to other amounts that may he a plied to the mg·!u¤d. ____+, redemption or payment of the public debt, an amount equaljto the intel'- V Ibid, est on all bonds belonging to me sinking-fund shall he applied, as the Secretary of the Treasury shall from time to time direct, to the payment of the public debt. _Redemption or _ Sec. 3697. The Secretary of the Treasury is authorized, with any coin ¤¤¤P€Y¤¤¤l¤·b0¤d¤- ln the Tl'08S\1l'}' which he may lawfully a ply to such pur se, 0I` which Ibid_,g_4_ may_be deflvpd from the sale of any of Sie bonds which T; may be allthorized to dispose of for that purpose, to y at r and cancel any six pgr centum bonds of the Unite States of elfé kindphnown as five-twenty nds, wh1ch_have become or shall hereafter become redeemable by the terms of their issue. But the particular bonds so to be paid and canceled shall in all cases be indicated and specified by class, date, and