Indefinite. On demand. None Par No limit 342, 619, 504. 00 CERTIFICATES OF DEPOSIT. The act of June 8, 1872 (17 Statutes, 336), authorizes the deposit of Indefinite. United States notes without interest by banking associations in sums not less than $10,000 and the issue of certificates therefor in denominations of not less than $5,000; which certificates shall be payable on demand in United States notes, at the place where the deposits were made. It provides that the notes so deposited in the Treasury shall not be counted as a part of the legal reserve, but that the certificates issued therefor may be held and counted by the national banks as part of their legal reserve, and may be accepted in the settlement of clearing-house balances at the place where the deposits therefor were made, and that the United States notes for which such certificates were issued, or other United States notes of like amount, shall be held as special deposits in the Treasury, and used only for the redemption of such certificates. GOLD CERTIFICATES. The act of March 3, 1863 (12 Statutes, 711), authorizes the Secretary of Indefinite. the Treasury to receive deposits of gold coin and bullion in sums of not less than twenty dollars, and to issue certificates therefor in denominations of not less than twenty dollars each; the coin and bullion deposited for or representing the certificates to be retained in the Treasury for the payment of the same on demand. The certificates so issued to be received at par in payment of intesest on the public debt and for duties on imports. The act of July 12, 1882 (22 Statutes, 165), provides that the Secretary of the Treasury shall suspend the issue of gold certificates whenever the amount of gold coin and gold bullion in the Treasury reserved for the redemption of United States notes falls below one hundred millions of dollars. SILVER CERTIFICATES. The act of February 28, 1878 (20 Statutes, 26, sec. 3), provides that any holder of the coin authorized by this act may deposit the same with the Treasurer or any assistant treasurer of the United States in sums not less than ten dollars and receive therefor certificates of not less than ten dollars each, corresponding with the denominations of the United States notes. The coin deposited for or representing the certificates shall be retained in the Treasury for the payment of the same on demand. Said certificates shall be receivable for customs, taxes, and all public dues, and, when so received, may be reissued. The act of August 4, 1886 (24 Statutes, 227), authorizes the issue of silver certificates in denominations of one, two, and five dollars; said certificates to be receivable, redeemable, and payable in like manner and for like purposes as is provided for by the act of February 28, 1878. TABLE A.-STATEMENT OF THE OUTSTANDING PRINCIPAL OF THE PUBLIC DEBT, ETC.-Continued. Length of loan. When redeem- Rate of in- Price Amount Amount issued. Amount out- REFUNDING CERTIFICATES. The act of February 26, 1879 (20 Statutes, 321), authorizes the Secretary of the Treasury to issue, in exchange for lawful money of the United States, certificates of deposit of the denomination of ten dollars, bearing interest at the rate of four per centum per annum, and convertible at any time, with accrued interest, into the four per centum bonds described in the refunding act; the money so received to be applied only to the payment of the bonds bearing interest at a rate not less than five per centum, in the mode prescribed by said act. FUNDED LOAN OF 1881, CONTINUED AT THREE AND ONEHALF PER CENT. Indefinite... Convertible in- 4 per cent.. to 4 per cent bonds. These bonds were issued in exchange for five-per-cent bonds of the Indefinite... FUNDED LOAN OF 1891, CONTINUED AT TWO PER CENT. These bonds were issued in exchange for the four and one-half per Indefinite.. LOAN OF JULY 12, 1882. These bonds were issued in exchange for the five and six per cent LOAN OF 1904. Indefinite... The act of January 14, 1875 (18 Statutes, 296), authorizes the Secre- 10 years. tary of the Treasury to use any surplus revenues from time to time in the Treasury not otherwise appropriated, and to issue, sell, dispose of at not less than par, in coin, either of the descriptions of bonds of the United States described in the act of July 14, 1870 (16 Statutes, 272), for the purpose of redeeming, on and after January 1, 1879, in coin, at the office of the assistant treasurer of the United States in New York, the outstanding United States legaltender notes when presented in sums of not less than fifty dollars. LOAN OF 1925. The act of January 14, 1875 (18 Statutes, 296), authorizes the Secretary 30 years. Par No limit $40, 012, 750.00 of at not less than par, in coin, either of the descriptions of bonds TREASURY NOTES OF 1890. The act of July 14, 1890 (26 Statutes, 289), directs the Secretary of the NATIONAL-BANK NOTES (REDEMPTION ACCOUNT). * *Exclusive of $64,623,512 bonds issued to Pacific railroads. 155, 931, 002.00 129, 683, 280.00 20, 102, 022. 50 *1,769,840,323.40 TABLE B.-STATEMENT OF OUTSTANDING PRINCIPAL OF THE PUBLIC DEBT OF THE UNITED STATES ON THE 1ST OF JANUARY OF EACH YEAR FROM 1791 TO 1843, INCLUSIVE, AND ON THE 1ST OF JULY OF EACH YEAR FROM 1843 TO 1896, INCLUSIVE. *2, 349, 567, 482. 04 *2, 120, 415, 370.63 *2,069, 013, 569. 58 *1,918, 312, 994. 03 *1, 884, 171, 728. 07 *1,830, 528, 923. 57 #1, 876, 424, 275. 14 t1, 756, 445, 205, 78 †1,688, 229, 591. 63 +1,705, 992, 320. 58 † 1, 640, 673, 340. 23 1,585, 821, 048.73 11, 560, 472, 784. 61 +1, 628, 840. 151. 63 +1. 598, 111, 156. 13 † 1,668, 757, 127.68 1,701, 033, 661. 25 +1, 787, 990, 491. 40 *In the amount here stated as the outstanding principal of the public debt are included the certifi cates of deposit outstanding on the 30th of June, issued under act of June 8, 1872, for which a like amount in United States notes was on special deposit in the Treasury for their redemption and added to the cash balance in the Treasury. These certificates, as a matter of accounts, are treated as a part of the public debt, but being offset by notes held on deposit for their redemption, should properly be deducted from the principal of the public debt in making comparison with former years. + Exclusive of gold, silver, currency certificates, and Treasury notes of 1890 held in the Treasurer's cash, and including $64,623,512 bonds issued to the several Pacífic railroads 1879. 1880. 1881. 1882. 1883. 1884 1885 1886. 1887. 1888. 1889. 1890. 1891 1892. 1893. 1894 1895. 1896. TABLE C.-ANALYSIS OF THE PRINCIPAL OF THE PUBLIC DEBT OF THE UNITED STATES FROM JULY 1, 1856, TO JULY 1, 1896. 5 per cents. 6 per cents. $3,632, 000, 00 50, 000, 000, 00 * 25, 364, 500.00 25, 364, 500. 00 100, 000, 000. 00 100, 000, 000.00 * Continued at 2 per cent. $28, 130, 761.77 Total interestbearing debt. $31,762, 761. 77 725, 313, 110.00 |