Volume 15
Public Law 40–CCXXXVII
to provide for a further Issue of temporary Loan Certificates, for the Purpose of redeeming and retiring the Remainder of the outstanding compound Interest Notes.
Approved July 25, 1868
Statutory text
An Act
to provide for a further Issue of temporary Loan Certificates, for the Purpose of redeeming and retiring the Remainder of the outstanding compound Interest Notes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That for the sole purpose of
Temporary loan certificates to limited amount, authorized to redeem outstanding compound interest notes.
Rate of interest.
1867, ch. 194. Vol. xiv. p. 558.
redeeming and retiring the remainder of the compound interest notes outstanding, the Secretary of the Treasury is hereby authorized and directed to issue an additional amount of temporary loan certificates, not exceeding twenty-five millions of dollars; said certificates to bear interest at the rate of three per centum per annum, principal and interest pay able in lawful money on demand, and to be similar in all respects to the certificates authorized by the act entitled “An act to provide ways and means for the payment of compound interest notes,” approved March second, eighteen hundred and sixty-seven; and the said certificates may constitute and be held by any national bank holding or owning the same as a part of the reserve, in accordance with the provisions of the above mentioned act of March second, eighteen hundred and sixty-seven.
Approved, .