Show TELEGRAPHIC THE rUSDING BILL Washington 19Following ii i the full toztut the funding bill as passed by ice Home today Be it enacted by the Senate and House of Representatives of the United States in Oangiets assembled That all exstinj provisions of law authorizing the refund lag of the national debt shall apply to any bonds of the United States bearing a higher rate of interest than AX per cent per annum which may hereafter become redeemable provided that in lieu of the bonds auihuriz d to be issued by the act of July 14th 1870 entitled An Act to authorize the refunding of the national debt and acts amendatory thereto and the certificates authorized by act of July i0th IbTJ entitled An Act to authorize the issue ot certificates of de posiu iu aid of tbe unding of the public pub-lic debt the secretary of the treasury is hereby authorized to isiuo bonds in the amount of nut exceeding 400000000 wh ch etiall bear inlereet at tbe rate of d per cent per annum redeemable rt the pi asure of the United States after five years and payable ten years from tbe date ufissue Id alto ce ttlicauam tbe amount tfsD < 000 tAO in denominations oflo 20 and 550 either registered or coupon bearing interest at the rate of 3 per cent pr annum redeemable at the pleasure iftno United Slates after one year and payable in ten spars from the date of issuance The bonds and certificates slid li be in all other respects of like character char-acter anJ eubj ct to he same provisions ai the bonds nutoorizdd o be issued by the act o July 14th 1870 entitled An Act to authorize tho refunding of tbe nntio al dent and acts amendatory thereto j provided that nothing Jin this act ehiiil be to construed ae construe tie to authorize an increase of the public debt and provided fur tner that interest upon the 6 per cent bonds hereby authorized to be refunded bbnll cue at the expiration of thirty dcyo af or not ca that the same have been designated by the secretary of the treasury treas-ury tor redemption ec 21 1 he secretary of tho treasuy is hereby authorized in tao proces of refunding re-funding the na ionul debt to exchange at not lee than par any of the bends or certificate herein authorized for any of the bonds of the United States outstanding outstand-ing and uncalled bearing a higher rate of interest than 44 per cent per annum and on bonds so redeemed the secretary of the treasury may allow the holders the difference between the interest on such bonds fr ra the date of exchange to tbo time of their maturity and interest for 1 like period oc the bonds or certifi cates issued but none ot the provisions of this act shall apply to the redemption or exchange of any bonds issued to the Pacific railway companies and bonds so received and exchanged in pursuance of the provisions of this act ehail bo can cello and destroyed Sc 3 Authority to issue bonds and certificates to an am junt necessary to carryout carry-out the provisions of this act is hereby granted and the secretary of ho treasury is hereby authorize and directd to make suitable rules and regulations to carry this act into effect provided that the expenses of preparing issuing advertising ad-vertising and disposing of bonds and certificate author zed to be issued shall not exceed onetourth of 1 per cent SfC 4That the secretary of the treasury is hereby autho ized if i in bis opinion it shall become necessary to use not exceeding 50000000 of tho standard stand-ard gold and shyer coin in tho treasury in the redemption of 5 and 6 percent bonds of the United States authorized to be refunded by the provisions provi-sions of this act and ho may at any time apply the surplus money in the treasury not thcrvrisa appropriated ap-propriated or so much thereof a he may consider proper to the purchase or the rrdemption of United S utes bonds or certificates provided that the bonds and certificates so purcha ed or refunded hall constitute no part of the linking fund but shall be cancelled Bee 5From and after the 1st day of May IfaSl the 3 per cent bonds autborizHi by the tint section sec-tion of this act shall be tho only bond receivable si iccurty for tb national fink Ucuaion or as security secur-ity for aCe keepi aid prompt payment f tho pub ic motioy drpoiited with such banks LU when any such bonds deposited deposi-ted fr tbe purpoe aforesaid bal be Designated for tbe purchase or reJcmpon by the secretary ot tbo treasury banking asouiations depositing the tame than hai e tbo right subtituto other usues of bonds of the United Slates in lieu thereof provided that no bond upon which interest in-terest has ce > ed shall be accepted or sball e continued on deosit as security I for circulation or for the sae Keeping of the public money and in case b ds so depoitcd shall not be withdrawn as provided by law within thirty days after interest hg erased thereon the banting as ciation depositing the tame shall be bul act t liabiittes and pocecd lags on the part of the comptroller provided pro-vided for in tec 6234 of tho Revised Statutes of the United States and nro vid d further that nec 4 ol the act of June 20th 1874 entitled An Act fixing the amount of the United States cote movidinir fr I redistribution of the nstunal bank curre cy and for other purp > SPS be and tb fame is hereby rtpslid and sections 5159 and 5tGO of the iieviaed Statutes of the United states bo and the same are hereby reenacted t = M 6Tht this net shall be known as rue luudioR act of 1831 aed all ac s and purls of tno act inconsistent with this net are hereby repealed I |