36 SIX'1`Y—FIFTH CONGRESS. Sess. I. Cir. 4. 1917. governments purchased on behalf of the United States, and to sell at not less than the urchase price any of such obligations and_ to a l the roceeds tgiereof and an ayments made by foreign PP Y P ¤ . . Y . h .¤ Q b %`;"iL“"§§§§Sa€‘L3€€3%?§ €ia3h§‘§IS,TL‘Zi Z£?i1té°$§—“Z,S2 §r"3Ei‘§7mb‘Z.t$‘2i'* 0b@§{mY“"““m“g of F15? United Staitlesbissped ilrpsder authoggtysof theis Ac2;tlanrd` if such on are not ava a e ort ur· ose e ecre aryo e reasury shall redeem or urchase anyp otlher outstandiriégl interest-bearing obligations of the Iljnited States which may at su time be subject to call or which may be purchased at not more than par and accrued interest. - Issue or gorgviously Sec. 4. That the Secretary of the Treasury, in his discretion, is §E€li§S¤"?il ds °°° hereby authorized to issue the bonds not already issued heretofore f,*;‘{¤3fg*¤éf*H*;‘”°°““- authorized by section thirty-nine of the Act approved August fifth, Pocl,pl292. nineteen hundred and nine, entitled "An Act to provide revenue, equalize duties, and encourage the industries of the United States, V°*·39·P-215- alndgor other p:11rposes’Eus1ection one and twenty-fourél of t e ct a rove une t , nineteen un e and sixteen enti ed "An Actpfiir making further and more effectual provisiori for the v¤i.3e,p.m, national defense, and for other purposes"; section thirteen of the Act of September seventh, nmeteen hundred and sixteen, entitled "An Act to establish a United States shipping board for the purpose of encouraging, developing, and creating a naval auxiliary and a naval reserve and a merchant marme to meet the requirements of the commerce of the United States with its Territories and possessions and with foreign co1mtries, to regulate carriers by water engaged in the foreign and interstate commerce of the United States, and for m’:§g‘§,S_ P"¥’°'°"‘ other pu.r·poses"; section four hundred of the Act approved March v¤1.3¤,p.1w2. third, nineteen hundred and seventeen, entitled "An Act to provide increased revenue to defragl the ex enses of the increased appro- ‘ priations for the Army and avy and, the extensions of fortiiications, boglgsm °¤*°’¤°¤°Y and for other p oses"; and the public resolution a proved March Vol.'39,p.12)1. fourth, njneteeriuhundred and seventeen, entitled "·.ll>int resolution to expedite the delivery of materials, equipment, and munitions and to secure more expeditious construction of ships," in the manner gud under the terms and conditions prescribed in section one of this c . M¤i¤s>¤¤1 i==¤¤ *0* That the Secretary of the Treasiujy is hereb authorized to borrow radam tum ot 3 r . , ¤¤¤u£¤. °° on the credit of the United States from time llc time, in addition to the sum authorized in section one of this Act, such additional amount, not exceeding $63,945,460 as ma be necessary to redeem the three per cent loan of nineteen hundredy and eight to nineteen hundred and eighteen, maturing August first, nineteen hundred and eighteen, and
- ”"·¥’·3·“’· to issue therefor bonds of the United States in the manner and under
the terms and conditions prescribed in section one of this Act. b0$,$,’§,‘}§}g,j’",n§,;‘,§sQ Sec. 5. That any series of bonds issued under authority of sections garggrijcsggg (yvjgym one and four of this Act may, imder such terms and conditions as the Secretary of the Treasury may prescribe, be convertible into bonds bearing a higher rate of interest than the rate at which the same were xssued if any· subsequent series of bonds shall be issued at a higher rate of interest before the termination of the war between the United dargecxamazmu ee ax States and the Imperial German Government, the date of such ter- ‘ gitiéitagion to be fixed by a proclamation of the President of the United “***°°·*·= ··* ir Sec. 6. That in addition to th be as th ‘ ed b ‘ memes. _ e n au oriz sections one mgggggjrsggctxrgwp and four of this Act, the Secretary of the Treasury isyauthorized to mgm B0 borrow from time to time, on the credit of the United States, for the "" ‘ £1\;1V’p;>$=1$l<;€1If;1h1(is Act and to riiieset {Angie expendiltures authorized by _ , rsumsas,1n u ent,ma enecessary andto issue therefor certificates of indelitedness at no; less than parlin such ’“°“'°’*· form and subject to such terms and conditions and at such rate of
