TABLE A.-STATEMENT OF THE OUTSTANDING PRINCIPAL OF THE PUBLIC DEBT OF THE UNITED STATES JUNE 30, 1906.

TABLE A.-STATEMENT OF THE OUTSTANDING PRINCIPAL OF THE PUBLIC DEBT, ETC.-Continued.

Continued at 3 per cent interest, and redeemable at the pleasure of the Indefinite
Government.

9,400.00

108, 400.00

The act of February 25, 1862 (12 Statutes, 345), authorized the issue of
$150,000,000 United States notes, not bearing interest, payable to
bearer at the Treasury of the United States, and of such denomi-
nations, not less than five dollars, as the Secretary of the Treasury
might deem expedient, $50,000,000 to be applied to the redemption
of demand notes authorized by the act of July 17, 1861; these notes
to be a legal tender in payment of all debts, public and private,
within the United States, except duties on imports and interest on
the public debt, and to be exchangeable for 6 per cent United
States bonds. The act of July 11, 1862 (12 Statutes, 532), authorized
an additional issue of $150,000,000, of such denominations as the Sec-
retary of the Treasury might deem expedient, but no such note
should be for a fractional part of a dollar, and not more than
$35,000,000 of a lower denomination than five dollars; these notes to
be a legal tender as before authorized. The act of March 3, 1863
(12 Statutes, 710), authorized an additional issue of $150,000,000, of
such denominations, not less than one dollar, as the Secretary of the
Treasury might prescribe; which notes were made a legal tender
as before authorized. The same act limited the time in which the

Indefinite

After 10 days' notice.

4, 5, and 6 per cent.

Par

150,000,000.00 a 716, 099, 247. 16

2,850.00

Treasury notes might be exchanged for United States bonds to July
1, 1863. The amount of notes authorized by this act were to be in
lieu of $100,000,000 authorized by the resolution of January 17, 1863
(12 Statutes, 822). The act of May 31, 1878 (20 Statutes, 87), provides
that no more of the United States legal-tender notes shall be can-
celed or retired, and that when any of said notes are redeemed or
received into the Treasury under any law, from any source what-
ever, and shall belong to the United States, they shall not be retired,
canceled, or destroyed, but shall be reissued and paid out again, and
kept in circulation.

The act of March 14, 1900, provides that United States notes, when
presented to the Treasury for redemption, shall be redeemed in gold
coin of the standard fixed in said act, and that in order to secure
the prompt and certain redemption of such notes it shall be the
duty of the Secretary of the Treasury to set apart in the Treasury a
reserve fund of one hundred and fifty million dollars in gold coin and
bullion, to be used for such redemption purposes only, and that
whenever and as often as any of said notes shall be redeemed from
said fund it shall be the duty of the Secretary of the Treasury to
use said notes so redeemed to restore and maintain the reserve fund
so established-first, by exchanging the notes so redeemed for any
gold coin in the general fund of the Treasury; second, by accepting
deposits of gold coin at the Treasury or at any subtreasury in ex-
change for such notes; third, by procuring gold coin by the use of
said notes in accordance with the provisions of section 3700 of the
Revised Statutes of the United States. The above-mentioned act
also provides that if the Secretary of the Treasury is unable to
restore and maintain the gold coin in the reserve fund by the fore-
going methods, and the amount of such gold coin and bullion in
said fund shall at any time fall below one hundred million dollars,
it shall be his duty to restore the same to the maximum sum of one
hundred and fifty million dollars by borrowing money on the credit
of the United States, and for the debt so incurred to issue and sell
coupon or registered bonds of the United States bearing interest at
the rate of not exceeding three per centum per annum, payable
quarterly, the bonds to be payable at the pleasure of the United
States after one year from the date of their issue, and to be payable,
principal and interest, in gold coin of the present standard value,
the gold coin received from the sale of said bonds to be exchanged
for an equal amount of the notes redeemed and held for exchange,
and the Secretary of the Treasury may, in his discretion, use said
notes in exchange for gold, or to purchase or redeem any bonds of
the United States, or for any other lawful purpose the public inter-
ests may require, except that they shall not be used to meet defi-
ciencies in the current revenues.

TEMPORARY LOAN.

Acts of February 25, 1862 (12 Statutes, 346); March 17, 1862 (12 Statutes, 370); July 11, 1862 (12 Statutes, 532), and June 30, 1864 (13 Statutes, 218).

a Including reissues.

TABLE A.-STATEMENT OF THE OUTSTANDING PRINCIPAL OF THE PUBLIC DEBT, ETC.-Continued.

June 15, 18687% per cent. Av. pre. 800, 000, 000.00 829, 992, 500.00 July 15, 1868 of 21880.

121,050.00

Acts of June 30, 1864 (13 Statutes, 218); January 28, 1865 (13 Statutes, 3 years. 425), and March 3, 1865 (13 Statutes, 468).