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ACT OF AUGUST 13, 1894.

CHAP. 281.-An act to subject to state taxation national 28 Stat. L., bank notes and United States Treasury notes.

278.

of national United States author

ized.

Be it enacted by the Senate and House of Representa- State taxation tires of the United States of America in Congress assem-currency and bled, That circulating notes of national banking associa- notes tions and United States legal tender notes and other notes and certificates of the United States payable on demand and circulating or intended to circulate as currency and gold, silver or other coin shall be subject to taxation as money on hand or on deposit under the laws of any State or Territory: Provided, That any such taxation shall be Proviso. exercised in the same manner and at the same rate that any such State or Territory shall tax money or currency at her circulating as money within its jurisdiction.

To be taxed

money.

SEC. 2. That the provisions of this Act shall not be Existing laws. deemed or held to change existing laws in respect of the taxation of national banking associations.

Approved, August 13, 1894.

ACT OF AUGUST 15, 1894.

286.

CHAP. 290.-An act making appropriations for current 28 Stat. L., and contingent expenses of the Indian Department and ́ fulfilling treaty stipulations with various Indian tribes for the fiscal year ending June thirtieth, eighteen hundred and ninety-five, and for other purposes.

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SEC. 19.

And the Secretary of the Treasury is hereby authorized to issue to the Cherokee Nation or to its assigns evidences of indebtedness of the United States of America, bearing interest at the rate of four per centum per annum, payable annually on the fourth day of March of each year, in amounts of one thousand and ten thousand dollars, respectively, for the respective amounts of the second, third, fourth, and fifth installments, maturing respectively on the fourth day of March, eighteen hundred and ninety-six, the fourth day of March, eighteen hundred and ninety-seven, the fourth day of March, eighteen hundred and ninety-eight, and the fourth day of March, eighteen hundred and ninety-nine, and amounting in the aggregate to six million six hun

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Cherokee Na-
Bonds to be

issued for pay

ing install

ments.

tion.

640.

dred and forty thousand dollars, as specified in said act of Vol. 27, P. March third, eighteen hundred and ninety-three; and this provision shall not be construed to extend the time nor to increase the amount of the liability of the Government as provided in section ten of the said Act of March third, eighteen hundred and ninety-three.

Moneys to be deposited in

ACT OF MAY 28, 1896.

179.

29 Stat. L., CHAP. 252.—An act making appropriations for the legis lative, executive, and judicial expenses of the Govern ment for the fiscal year ending June thirtieth, eighteen hundred and ninety-seven, and for other purposes.

Proviso.

Postal rev

enues.

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Approved, August 15, 1894.

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"SEC. 3621. Every person who shall have moneys of

public deposi- the United States in his hands or possession, and disburs

taries.

R. S., 3621, p. amended.

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SEC. 5. That section thirty-six hundred and twenty-one of the Revised Statutes is amended to read as follows:

Sec. ing officers having moneys in their possession not required

714,

for current expenditure, shall pay the same to the Treas urer, an Assistant Treasurer, or some public depositary of the United States, without delay, and in all cases within thirty days of their receipt. And the Treasurer, the Assistant Treasurer, or the public depositary shall issue duplicate receipts for the moneys so paid, transmitting forthwith the original to the Secretary of the Treasury, and delivering the duplicate to the depositor: Provided, That postal revenues and debts due to the PostOffice Department shall be paid into the Treasury in the manner now required by law."

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Approved, May 28, 1896.

ACT OF JUNE 13, 1898.

448.

30 Stat. L., CHAP. 448.-An act to provide ways and means to meet war expenditures, and for other purposes.

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Issue of certificates of in

SEC. 32. That the Secretary of the Treasury is author

debtedness au-ized to borrow from time to time, at a rate of interest not

thorized.

exceeding three per centum per annum, such sum or sums as, in his judgment, may be necessary to meet public ex

penditures, and to issue there for certificates of indebtedness in such form as he may prescribe and in denominations of fifty dollars or some multiple of that sum; and each certificate so issued shall be payable, with the interest accrued thereon, at such time, not exceeding one year from the date of its issue, as the Secretary of the Treasury may prescribe: Provided, That the amount of such certificates Proviso. outstanding shall at no time exceed one hundred millions of dollars; and the provisions of existing law respecting counterfeiting and other fraudulent practices are hereby Counterfeitextended to the bonds and certificates of indebtedness authorized by this act.

-limit.

ing.

bonds to loan

thorized.

SEC. 33. That the Secretary of the Treasury is hereby Issue authorized to borrow on the credit of the United States cure from time to time as the proceeds may be required to defray expenditures authorized on account of the existing war (such proceeds when received to be used only for the purpose of meeting such war expenditures) the sum of four hundred million dollars, or so much thereof as may be necessary, and to prepare and issue there for, coupon or registered bonds of the United States in such form as he may prescribe, and in denominations of twenty dollars or some multiple of that sum, redeemable in coin at the pleasure of the United States after ten years from the date of their issue, and payable twenty years from such date, and bearing interest payable quarterly in coin at the rate of three per centum per annum; and the bonds herein authorized shall be exempt from all taxes or duties of the United States, as well as from taxation in any form by or under State, municipal, or local authority: Provided, That the bonds authorized by this section shall be first offered at par as a popular loan under such regula- Popular loan. tions, prescribed by the Secretary of the Treasury, as will give opportunity to the citizens of the United States to participate in the subscriptions to such loan, and in allotting said bonds the several subscriptions of individuals shall be first accepted, and the subscriptions for the lowest amounts shall be first allotted: Provided further, That any portion of any issue of said bonds not, Disposition of subscribed for as above provided may be disposed of by scribed for. the Secretary of the Treasury at not less than par, under such regulations as he may prescribe, but no commissions shall be allowed or paid thereon; and a sum not exceed Expenses. ing one-tenth of one per centum of the amount of the bonds and certificates herein authorized is hereby appro

Provisos.

bonds not sub

of seau

denominations, etc.

Hand roller presses.

ACT OF JULY 1, 1898.

605.

30 Stat. L, CHAP. 546.-An act making appropriations for sundry civil expenses of the Government for the fiscal year ending June thirtieth, eighteen hundred and ninetynine, and for other purposes.

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*: Provided further, That hereafter all bonds, notes, and checks shall be printed from hand-roller presses.

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priated out of any money in the Treasury not otherwise appropriated, to pay the expense of preparing, advertising, and issuing the same.

Approved, June 13, 1898.

to

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ACT OF JULY 7, 1898.

659.

30 Stat. L., CHAP. 571.-An act making appropriations to supply deficiencies in the appropriations for the fiscal year ending June thirtieth, eighteen hundred and ninety-eight, and for prior years, and for other purposes.

Minimum sum to be accepted.

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Central Pacific and West

roads.

SETTLEMENT WITH THE CENTRAL PACIFIC AND WESTERN ern Pacific rail- PACIFIC RAILROADS: That the Secretary of the Treasury, Commission the Secretary of the Interior, and the Attorney-General, debtedness to and their successors in office, be, and they are hereby, apGovernment. pointed a commission with full power to settle the in

settle in

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debtedness to the Government growing out of the issue of bonds in aid of the construction of the Central Pacific and Western Pacific bond-aided railroads, upon such terms and in such manner as may be agred upon by them, or by a majority of them, and the owners of said railroads: Provided, That any and all settlements thus made the President. shall be submitted in writing to the President for his ap

Provisos.

by

proval or disapproval, and unless approved by him shall not be binding.

That said commission shall not agree to accept a less sum in settlement of the amount due the United States than the full amount of the principal and interest and

Time of pay

all amounts necessary to reimburse the United States for moneys paid for interest or otherwise: And also provided, That said commission are hereby empowered to ments. grant such time or times of payment by installment, and at such rates of interest, to be not less than three per centum per annum, payable semiannually, and with such security as to said commission may seem expedient: Provided, however, That in any settlement that may be made the final payment and full discharge of said indebtedness shall not be postponed to exceed ten years and the whole amount, principal and interest, shall be paid in equal semiannual installments within the period so limited, and in any settlement made it shall be provided that if default shall be made in any payment of either principal or interest or any part thereof then the whole sum and all installments, principal and interest, shall immediately become due and payable, notwithstanding any other stipulation of said settlement: Provided further, That unless the settlement herein authorized be perfected within one year after the passage of this Act the President of the United States shall at once proceed to foreclose all liens now held by the United States in default against said railroad companies and to collect the indebt- settlement. edness herein sought to be settled, and nothing in this Act contained shall be held to waive or release any right, No waiver of lien, or cause of action already held by the United States, etc.

Foreclosure

existing liens,

tion for ex

That there is hereby appropriated, out of any money Appropriain the Treasury not otherwise appropriated, the sum of penses of comtwenty thousand dollars to defray the expenses of said commission in making the said settlement.

mission.

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Approved, July 7, 1898.

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Final

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charge.

Default payment.

dis

in

JOINT RESOLUTION, JULY 7, 1898.

(No. 55.) Joint resolution to provide for annexing the 30 Stat. L., Hawaiian Islands to the United States.

751.

of

to assume the Hawaii.

The public debt of the Republic of Hawaii, lawfully United States existing at the date of the passage of this joint resolution, public debt of including the amounts due to depositors in the Hawaiian Postal Savings Bank, is hereby assumed by the Government of the United States; but the liability of the United limit. States in this regard shall in no case exceed four million.

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