APPENDIX A
139
savings investments and use the proceeds to
meet withdrawals of deposits by depositors. For
the purposes of this act, the word “Territory,”
as used herein, shall be held to include the District
of Columbia, the District of Alaska, and
Porto Rico, and the word “bank” shall be held to
include savings banks and trust companies doing
a banking business.]
Sec. 10. That any depositor in a postal savings
depository may surrender his deposit, or
any part thereof, in sums of twenty dollars,
forty dollars, sixty dollars, eighty dollars, one
hundred dollars, and multiples of one hundred
dollars and five hundred dollars, and receive in
lieu of such surrendered deposits, under such regulations
as may be established by the board of
trustees, the amount of the surrendered deposits
in United States coupon or registered bonds of
the denominations of twenty dollars, forty dollars,
sixty dollars, eighty dollars, one hundred
dollars, and five hundred dollars, which bonds
shall bear interest at the rate of two and onehalf
per centum per annum, payable semiannually,
and be redeemable at the pleasure of
the United States after one year from the date
of their issue and payable twenty years from
such date, and both principal and interest shall
be payable in United States gold coin of the
present standard of value: Provided, That the
bonds herein authorized shall be issued only
(first) when there are outstanding bonds of the
United States subject to call, in which case the
proceeds of the bonds shall be applied to the redemption
at par of outstanding bonds of the
United States subject to call, and (second) at
times when under authority of law other than
that contained in this act the Government desires
to issue bonds for the purpose of replenishing
the Treasury, in which case the issue of bonds
Postal savings
bonds:
Exchange of
deposits.
Denominations.
Interest.
Redeemable after
one year.
Payable after
twenty years,
in gold coin.
When bonds
may be isued.
