Supplementary Bond Legislation: Hearing Before the Committee on Ways and Means, House of Representatives, Sixty-fifth Congress, Second Session, on a Bill to Supplement the Second Liberty Bond Act as Amended, and for Other Purposes. September 12, 1918
U.S. Government Printing Office, 1918 - Debts, Public - 39 pages
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
able additional amended amount anticipation approved arrangement association August authorized believe bill billion borrow carry cash cent certificates of indebtedness CHAIRMAN City close committee Comptroller Currency deal desirable directors discount district effect established estimated exceed exchange exemption existing fact Federal reserve banks fourth liberty loan future GARNER give gold Government holdings House income income taxes increase India interest issued Italy LEFFINGWELL less letter liberty bonds limit Mass matter maturity means meet months MOORE necessary needed notes October 24 organization payment period person present problem profit question raised rate of interest respect result rules and regulations savings Secretary Secretary McAdoo secured sell situation sold stamps subscribed subscriptions suggested surtaxes taxation thing third Liberty loan tion Treasury certificates United States dollar Washington wise
Page 37 - States, shall (except to the extent permitted by rules and regulations prescribed by the Comptroller of the Currency, with the approval of the Secretary of the Treasury) be subject under this section to a limitation of 15 per centum of such capital and surplus in addition to such 10 per centum of such capital and surplus.
Page 17 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 37 - That the total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed one-tenth part of the amount of the capital stock of such association actually paid in...
Page 25 - ... discount of any note or notes secured by not less than a like face amount of bonds or notes of the United States issued since April 24, 1917, or certificates of indebtedness of the United States, shall not be considered as money borrowed within the meaning of this section.
Page 33 - That the President may investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange, export or ear-markings of gold or silver coin or bullion or currency...
Page 18 - ... and war-profits taxes, now or hereafter imposed by the United States, upon the income or profits of individuals, partnerships, corporations, or associations. The interest on an amount of such bonds the principal of which does not exceed in the aggregate...
Page 18 - General provisions. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to perform any necessary acts under this circular.
Page 35 - ... an amount in excess of 10 per cent of the capital and surplus of the member bank, whether such person, firm, or corporation was the borrower or not.
Page 5 - The idea that a special exemption should be granted to foreign investors in United States bonds first appeared in section 3 of the Fourth Liberty Bond Act of July 9, 1918, 40 Stat. 845. This provided : "SEC. 3. That notwithstanding the provisions of the Second Liberty Bond Act, as amended by the Third Liberty Bond Act, or of the War Finance Corporation Act, bonds and certificates of indebtedness of the United States payable in any foreign money or foreign moneys, and bonds of the War Finance Corporation...