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act, either in the United States or elsewhere, to such an amount, in such manner and at such rates as he may think advisable, for lawful money of the United States, or for any treasury notes, certificates of indebtedness, or certificates of deposit, or other representatives of value, which have been or which may be issued under any act of Congress, the proceeds thereof to be used only for retiring treasury notes or other obligations issued under any act of Congress; but nothing herein contained shall be construed to authorize any increase of the public debt.

14. UNION PACIFIC RAILROAD BONDS. 2cls of July 1, 1862, and July 2, 1864.—Bonds issued to the Union Pacific Railroad

Company in accordance with these acts. These bear date January 12, 1865, and will mature January 15, 1895.

15. THREE PER CENT. TEMPORARY LOAN CERTIFICATES. Act of March 2, 1867.—For the purpose of redeeming and retiring any compound

interest notes outstanding, the Secretary of the Treasury is authorized and directed to issue temporary loan certificates in the manner prescribed by section four 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 Floating Debt of the United States," approved February twenty-fifth, eighteen hundred and sixty-two, bearing interest at a rate not exceeding three per cent. per annum, principal and interest payable in lawful money on demand; and said certificates of temporary loan may constitute and be held by any national bank holding or owning the same as a part of the reserve provided for in sections thirty-one and and thirty-two of the act entitled “An Act to provide for a National Currency, secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof,” approved June three, eighteen hundred and sixty-four; PROVIDED, That not less than two-fifths of the entire reserve of such bank shall consist of lawful money of the United States : AND PROVIDED FURTHER, That the amount of such temporary certificates at any time outstanding shall not exceed fifty millions of dollars. (The amount of three per cents authorized to be issued was subsequently increased to $75,000,000.)

16. PUBLIC CREDIT. ict of March 18, 1869.—Provided for the payment in coin, or its equivalent, of all the

obligations of the United States not bearing interest, known as United States notes; and of all the interest-bearing obligations, except in cases where the law authorizing their issue provided for their payment in lawful money. It provided, however, that none of the interest-bearing obligations, not already due, shall be redeemed before maturity, unless at a time when United States notes shall be convertible into coin at the option of the holder, or unless United States bonds that bear a lower rate of interest can at that time be sold at par in coin. It also pledged the faith of the country to a redemption of United States notes in coin at the earliest practicable period.

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STATEMENT, Showing the amount and character of the various classes of Debts of the United States, as they were on the 1st of May, 1869, and 1870, comparatively:

DEBT BEARING COIN INTEREST.

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7,705,000

$7,705,000

844,600 793,670 10,000

7,147 147.140 100,890

7,200 1,000

$1,910,647

Five per cent. bonds,.

$221,589,300 $221,589,300 Six per cent. bonds of 1881

283,677,400 283,677,400 Six per cent. 5-20 bonds

1,602,612,000 1,602,676,500 $64,500 Total bearing coin interest.

$2,107,878,700 $2,107,943, 200! $64,500

DEBT BEARING CURRENCY INTEREST. Three per cent. certificates...

53,240,000 45,535,000 Navy Pension Fund three per cent..

14,000,000 14,000,000 Total bearing currency interest..

$67,240,000 $59,535,000 MATURED DEBT NOT PRESENTED FOR PAYMENT. Three years' 7-30 notes

1,546,3001 701,7001. Compound interest notes..

3,097,000 2,303,330 Bonds Texas Indemnity.

252,000 242,000 Treasury notes of July 17, 1861, and prior.

110,712 103,565 Bonds, loan of 1842-7 and 48.

147.900

760 Treasury notes of March 3, 1863.

347,792 246,902 Temporary loan.

188,510 181,310 Certificates of indebtedness.

12,000 11,000 Total matured debt...

$5,702,214 $3,790,567

DEBT BEARING NO INTEREST. United States notes..

356,063,845 356,107,221

43,370 Fractional currency.

35,350,323 39,354,322 4,003,999 Gold certificates..

16,307, 200 33,840,400 17,533,200 Total non-interest debt....

$107,721,368 $129,301,943 $21,580,575

RECAPITULATION. Debt bearing coin interest

2,107,878,700 2,107,943,200 64,500 Debt bearing currency interest.

67,240,000 59,535,000 Matured debt...

5,702,214 3,790,567 Debt bearing no interest.

407,721,368 429,301,943 21,580,575 Aggregate debt.....

$2,588,542,282 $2,600,570, 710 $12,028, 428 From which deduct coin and currency in Treasury: Coin in Treasury.

108,338, 933 115,525,214 7,186,281 Currency in Treasury..

7,896,564 6,951,094 Total coin and currency.

$116,235,497 $122,479,308 $6,243,811 Debt, less coin and currency...

$2,472,306,785 $2,478,091,402

$7,705,00

1,910,6 17

$942,470

BONDS ISSUED TO UNION PACIFIC RAILWAY AND BRANCHES to May 1, 1870. (Interest payable in lawsul money, Jan. 1 and July 1, and principal in thirty years from date.)

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PUBLIC DEBT OF THE UNITED STATES.

Statement of the Character and Amount of Bonds and other forms of Indebtedness July 1, Yearly, from 1861 to 1869, inclusive.

COMPILED FROM THE ANNUAL STATEMENTS OF TRE SECRETARY OF THE TREASURY.

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$

$
$

$
Demand

114,118 114.118 114,115 114, 115 114,115 114,115 113,915 113,915 113,915
6 Dec. 31, '62. 2,883,364 2,883,364 302,621 196,808 195,408 79,269 64,769 6,000

6,000
6 Nov. 12, '56.

Dec. 31, 67 9,415,250 9,415,250 9.415,250 9,415,250 9,415,250 9.415.250 7,160,200 742,250 26,150
6 July 1, '68. 8,908,312 8.908,312 8,908,312 8,908,319 8,908,342 8,908,312 8,020,912 6,151,192

69,850
5 Dec. 31, '61. 3,461.000 3,461,000 3,461,000 2,149,000 842,000 559,000 263,000 256,000 242,000
Demand.

112,092 112,032
5 Dec. 31, 73 20.000.000 20.000.000 20,000,000 20.000.000 20,000,000 20,000,000 20,000,000 20,000,000 20.000.000

Dec. 31, '70, 7,022,000 7,022.000 7,022,000 7,022,000 7,022,000 7,022,000 7.022.000 7,022.000 7,022.000

June 1, '81 16,339,966 18,415,000 18,415,000 18,415,000 18,415,000 18,415,000 18,415,000 18,415,000 18,415,000
6 July 1, '81.

938.600 1,021,300 1,016,300 1,016,000 1,010,000 1,016,000) 945,050 915.000
6 June 30. 981

50.000.000 50,000,000 50,000,000 50.000,000 50,000,000 50,000,000 50,000,000 50,000,000 6 June 30, '81

28,500 30,613,600 139,031,300 189,350,550 139,999,750 139,361,100 139,352,400 6 Apr. 30, '67.

9,907,850 168,880,250 510,780,500 514,780,500 514,780,500 514,780.500 514,780,500 514,771,600 6 June 30, '81

42,672,273 75,000,000 75,000,000 75,000,000 75,000,000 75.000.000
5 Feb. 28, 74.

73,337,750 172,770, 100 171,219,100 171,409,350 191,566,400 194,567,300
Oct. 31, '69

3,882,500 3,882,500 3,882,500 3,882.500
Oct. 31, '69

91,789,000 100,000,000 125,561,30 125,561,300 125.661.300 Oct. 31. '70

103,512,500 181,497.250 197,794,250 203.327,250 June 30, 70

301,880,250 332.928,950 332.998,950 June 30, 72

365,248, 1501 379,582,850 6 June 30, 73

17,648,950 42,539,350

Old debt.

Previous to 1815..
Loan of 1842 July 21,'41 & April 15,'42
Loan of 1846. July 22, 1816
Loan of 1847. January 28, 1847.
Loan of 1848.

March 31, 1818.
Texas indemnity. September 9, 1850.
Texas debt. September 9, 1850.
Loan of 1858

June 14, 1858.
Loan of 1860.

June 22, 1860.
Loan of Feb. 1861.. February 8, 1861.
Oregon war loan. March 2, 1861..
Loan of July, 1861.. July 17, 1861
Bonds (for 7.3 notes Aug116t 5, 1861.
Five-twenty yearb's February 25, 1862
Loan of 1863.

March 3, 1863
Ten-forty year bds. March 8, 1864.
Five-twenty year b. March 3, 1864.,
Five-twenty year b. June 30, 1861.
Five-twenty year b. April 12, 1866.
Five-twenty year b. April 18, 1866.
Five-twenty year b. April 18, 1866.
Five-twenty year b. April 12, 1866.

Total funded debt!

68,236, 132, 131,231,618 297,568,378 174,078,189 1,109,690,015 1,23,304, 120, 1,626,016, 726 (2,070, 423,5072,108,197,816

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Union Pac. RR. bds July 1, '62 & July 2, '64.. 6 Jan. 15, 95,

1,258,000 6,042,000 14,762,000 29,089,000 58,638,320 Treasury notes (old) Prior to 1857

Demand. 104,662 104,612 104,562 104,512 104,512 Treas, notes of 1857 December 23, 1857.

104,512 104,512 104,512 1 year.. 2,203,450 18,500 13,000

104,519 8,900

8,800
Treas, notes of 1860 December 17, 1860.

8,600 2,600
9,942,550
1 year.....

2,600
6,300 1,600

600
600

2,400
Treas, notes of 1861 March 2, 1861.

600
600

500
2 years 2,274,093 2,716, 700 776,750 164,500
Treas. notes of 1861 March 2, 1861,

5,800
5,628,700
6 60 days..

3,800

3,600 3,550 3,000

3,300 Treas, notes of 1863 March 3, 1863

5

2 years.
Treas, notes of 1863 March 3, 1863.

108,951,450 42,338, 710 3,454,230 1,123,930 555, 492
5
60 days.

247,772

44,520,000
Three years notes.. July 17, 1861

7.3 Aug. 18, '64.

53,004,300 52.981,000 Three years notes.. July 17, 1861

7.3 Sept. 30, '64

69,832,250 86,989,500

} 109,356,150 968,450 649,200
Three years notes.. June 30, '64 & Mar. 3, 65 7.3 Aug. 14, '67.
Three years notes. . March 3, 1865

7.3 June 14, '68
Three years notes.. March 3, 1865.
7.3 July 14, '68.

671,610,400 806,251,550 488,647,425 37,717,650 1,166,500
Comp'd int. notes.. March 3, 1863.

6

3 years. Comp'd int, notes,

15,000,000 15,000,000 June 30, 1864..

6 3 years. Three p. c. certific's Mar. 2, 67 & July 25, '68 3 Demand

178,756,080 159,012,140 122,394,480 28,161,810 2,871,410

50,000,000 52,120,000
Temporary loans... Feb. 25, May 17 & July
11, '62 & June 30, '64. 4,5,6 10 days..

57,746,116 102,384,085 72,330,191 89,717,061 120,176,196 20,225,070 13,797,029 186,310
Certificates.. Mar. 1, '62 & Mar. 3, '63. 6

1 year.

49,881,980 156, 784,242 160,729,000 115,772,000 26,891,000 36,000 18,000 12,000
Total unf'nd. debt

20,153,455 233,313,758 400,034,739 511,165, 303 1,115,540,413 1,116,050,828 632,537,917 159,450,143 115,362,534
United States notes July 17 & Aug. 5, '61. nil. Demand

53,040,000 3,351,020
United States notes February 25, 1862.

780,999

472,603 272,162 208,432 96,620,000 147, 767,114

141,723

123,739
United States notes July 11, 1862
United States notes March 3, 1863.
Postal currency.... July 17, 1862

89,879,475

150,000,000 431,178 671 432,687,966 400,619,206 371,783,597 356,000,000 356,000,000
Fractional currency Mar. 3, 63 & June 30, '64

20,192,456 15,167,556 9,915,409 7,030,701 5,497,535 4,881,091 4,605,708

7,727,321 15,090,420 20,040,176 22,809,988 27,745, 861 27,508,929
Total U. S. notes
& fractional cur.

149,660,000 411,190,065 454,854,547 458,166,398 427,963,245 400,299,552 388, 768,675 388,238,376
Gold certificates.... March 3, 1864.

10,713,180 19,207,520 17,678,640 30,489,640
Aggreg. of pub.debt

88,409,587) 514,211,371 1,098,793,181 1,740,690,489 2,684,663,826/2,784,073,379 2,692,823,715 2,636,320,965 2,642,508,365

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N. B. None of the “Trust Funds" are included in the above tabulation, as the Navy Pension Fund, the Indian Annuity Funds, the Smithsonian Fund, etc., which call only for an annual appropriation.

The following statements show the monthly range of prices for the securities of United States for the seven years ending December 31, 1869 :

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January

9134 @ 99 104 @107 1093601123% 10394 2 10159 1061421083 1083 @11156 111 @113% February 9334 a 10242 10634 @111 10912011110334 0 1014 10742@1102 11034 @11138 1124 @1163 March. 100% @ 105, 1114 @114% 1034 @1114, 10414 010576 1083, 11611044 0 1114 1157 @1174 April. 10434 @ 1062 113 2118 105 @ 110% 10450 a 1083 10876 @110% 111 @113 1154 @11544 May. 10138 210834 113 @115 1084 @ 110% 107 a 10972 110% a 112 11333 @ 11578 118 @12343 June. 107142110

111 a 114 10834 @ 11016 10922@ 11076 111% @ 11344 116 @ 118 1121 @12? July.

104 @ 107 102 210631065@10894 106% @ 110 109 @ 1103 113 @ 11550 11644@ August. 10457 @ 10744 10456 @ 10934 106 21074 10914 @1134 11044 011278 1134@ 116 12134 @ 125 September.. 106 a 107 1062 a 109 1071401084% 11034 @ 112 11034 @1124 1126 @1144 119 @ 133 October 10634 @11034 1042 u 1064 106% @ 1081 111% @ 11335 110, @1123 113 @ 11616 119 @1904 November.. 10834 @11044 1064, @113 10544 @ 10656 112 @ 11434 112 113 1124011572 11534 211946 December... 10876 0110 11258 @ 118 106% @ 10874 10934 @ 11344 11196 @1127 11438 @ 115 11538 @1205

Year... 104 @ 118 102 @118 10334 @11094 106%@11434 108% @11339 108% @118 111 @ 125

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January

1014 @ 1047 10638 @110 10284 2105 10644 @108 1077 011156 11135 @ 1135 February

10336 @ 107 10838 @112 102% @ 1033 10734 11134 110 0111% 113 alls March.

107 @11032 10434211334 103 n 10438 10837 2111 109% @ 11034 1177 @19 April

105 @ 114 10547 010914 1034 @106311098@11144 10914 @1122 11734 122 May.

100 @ 10044 10536 @10744 102-14 @ 107 1043 a 102% 107 @ 109710734 @ 1117 11743 @ 12June

100 @100% 101 @10694 102 @1044 10140 104% 10956 @ 110% 11128 @113* 1215012 July 10044010132 1014 2 109 10373 @ 106 1044 010872 11058 @1124 11230 @ 114 1215 @ 12:47 Auguet. 1013, a 102 106%20113 1057, 010676 10814 @ 11384 11158011438 11344 @115 12245 a 125 September.. 10134@ 102% 105 0111% 1037 @ 10878 10772 1125 1104 21154 1125011548 11943 124 October 103 @ 10438 1064 @ 10823 10134 @ 105'4 11134 @11544 1113@11334 1124 @1144 11917 @ 121 November.. 9934 @10072 10022a 10714 94% @ 103 107, 11078 1077 210854 10658 @1139 1127 @116 December... 10077 @ 10156 10648 @110 100 @10572 10547 10873 107 @10833 110 011144 110% a 116

Year...... 99340114 10022 @113 944 @10876 100%@11544 107 @11544 10658 @11578 1114 @12544

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100342 102% 9273 @ 9334 9914 @ 100 10134 @1014, 10534 ans @ 10073 @ 102% 93% 94% 9934 @ 10434 1042@10572 10 14 & 1104 @ 89140 10234 90 @ 929 9772 @ 9844 100% a 101%% 10576 @luta

a 9112 9734 91% @ 9676 97% @ 99 10054 @ 10278 105 @lady 100 @ 100% 9414 @ 9750 94 @ 9622 99 @ 9976 103 @10534 1074 a 116 100 @ 1005 9434 @ 9734 95940 9714 99120 100 4,2 1054 @ 1079, 1077 @ 104 by 100 @ 102

9656 98

9713 @ 99 10019 @ 10234 107 @ 108 1076, allt 103 @ 103 93 @ 98 99 @ 1034 102'2@1034 10838 @ 10912 1125 alltid 95 a 99 937; @ 9+72 9796 @ 10044 9942 @ 99% 10142 @ 10531054 @1194 92% @ 9612 925 @ 911 991, 010035 9966'010135 101% 1061073@ 94

@ 994 8964 @ 994 9914 2 10034 10036 @ 1023 104 @ 1062 106@ 982 @ 102 | 903g 95 99

@ 10034 10058 @ 101 @ 1057 100% all dig 8974 @ 1032 89340 9816! 94 @1034 99 @10532 100% @ 1094 105 @ 111

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Interest: March 1 and September 1.

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