SUMMARY OF A PLAN - Provide for a Sound, Uniform and Elastic National Currency - An Act of Congress shall provide for

Sep 21, 2026

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Detailed bibliographic microform record and technical metadata for Columbia University Libraries Preservation Division, including film size (35mm), reduction ratio, image placement, date filmed, tracking number, and restrictions on reproduction. The core content is a legislative summary outlining a plan to establish a sound, uniform, and elastic national currency through uniform government bonds, cancellation of existing paper currency, refunding of national bonded debt, and related provisions such as interest rates, denominations, registered bond terms, and transaction regulations.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages7

Reading Time18 min

AccessFree to download

SUMMARY OF A PLAN

Provision I: Uniform Government bonds and pledged credit

Provision II: Bond amount limitation

Provision III: Consols terms, denominations, and registered form

Provision IV: Special attributes and currency/certificate delivery

Provision V: Sale, issue, and payment methods

97-84243-26 Summary of a plan toprovide for a sound... [S.I.] [189-?] # COLUMBIA UNIVERSITY LIBRARIESPRESERVATION DIVISION BIBLIOGRAPHIC MICROFORM TARGET ORIGINAL MATERIAL AS FILMED-EXISTING BIBLIOGRAPHIC RECORD 332Zv.81 Summary of a plan to provide for a sound,uni-form and elastic national currency,the cancellation of existing paper currency,the re-fundingof the national bonded debt….189-?, e4,p. 28 cm.Caption title.Vol.of pamphlets. RESTRIC¹IONS ON USE: Reproductions may not be made without permission from Columbia University Libraries. # TECHNICAL MICROFOBM DATA FILM SIZE: 35mmREDUCTION BATIO: 9:1 MAGE PLACEMENT:AIIA IB IIB DATE FILMED:-12-97 INITIALS:业 TRACKING\#: 29477 FILMED BY PRESERVATION RESOURCES,BETHLEHEM,PA. 登24\# 得么 luu h T.htu # SUMMARY OF A PLAN TO Provide for a Sound,Uniform and Elastic National Currency,the Can-cellation of Existing Paper Currency,the Re-Funding of theNational Bonded Debt,and for Kindred Purposes. An Act of Congress shall provide for: I.—An issue of uniform Government bonds,payable not less thanfty years from date,bearing interest at the rate of 3-per cent.per annum,payable semi-annually at certaindesignated sub-treasuries or agencies of the Government,for the payment of the principaland interest thereof in gold coin of the United States of or equal to the present standardof weight and fineness the entire faith and credit of the Government shall be irrevocablypledged. II.—The amount of such bonds to be limited to the aggregate sum of the par value ofall the outstanding bonds of the Government plus the total par value of the paper cur-rency of the Government outstanding at the date of the,passage of the act. III.-All such bonds (designated for brevity Consols)shall be for the sum of $10,000,or a multiple thereof not greater than 81C0,00,shall be solely in the form commonlycalled registered bonds,and shallcontain appropriate provisions,under Regulations to beestablished from time to time by the Secretary of the Treasury,for the deposit thereof asherein provided with the Treasury Department,or a duly designated sub-treasury or agencyof the Government. IV.-Such Consols shallpossess the following special attributes: Upon being satisfactorily endorsed by the owner and holder thereof and so depositedtogether with a duly executed Waiver of four-fifths of all interest that shall accruethereon during the period for which such deposit shall continue,there shall be deliveredto said owner or holder or to his order at the Treasury Department or at one of saiddesignated sub.treasuries or agencies of the Government:First,an equal amount of thecurrency of the Government in denominations of not less than ten dollars or more than onethousand dollars,which currency shallbe supplied by the Treasury Department and shallbe a full legal tender for the payment of all debts due by or to the Government to or byall citizens of the United States (unless it shall be from time to time expressly provided bylaw that obligations to the Government for debts for the payment of customs or revenueobligations shall be payable only in gold coin),and shall also be a fulllegal tenderfor the payment of all debts between citizens of the United States,unless otherwisespecifically provided or contracted for in writing:and Second,a Certificate in suchform as shall evidence the facts as to such deposit,that the owner and holder ortransferee thereof is entitled to receive interest upon the face thereof upon the interestdays named in said Consols at the rate of seventy-three hundreths of one per cent.(.0073)upon the capital sum of the Consols so deposited until the redelivery of said Certificateduly transferred and surrendered to the Treasury Department,and that upon such re.delivery,together with the simultaneous delivery of the amount of

FAQs

What legislative purpose does the summary describe?

It describes a plan to provide a sound, uniform, and elastic national currency, cancel existing paper currency, and refund the national bonded debt and kindred purposes.

How are the uniform government bonds characterized in the summary?

The summary specifies bonds payable at least five years from the date, bearing 3% interest per annum payable semi-annually, with principal and interest payable in gold coin under the government’s irrevocable pledge of faith and credit.

What special exchange elements are mentioned under the Consols provisions?

Upon deposit and conditions described, holders may receive government currency in set denominations and a certificate evidencing entitlement to interest, along with cancellation of the delivered currency and the corresponding Consols through treasury processing.

Sep 21, 2026

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