a b c d e f g h i j k l m n o p q r s t u v w y z search

TeachMeFinance.com - explain Refunding acts historic definition... Refunding acts -- The first general refunding act was approved July 14, 1870. and the second was approved January 20, 1871. Under these acts about $1,400,000,000 bonds were issued of which $500,000,000 were 5 per cent ten-year bonds, redeemable May 1, 1881 ; $185,000,000 were 4 1/2 per cent fifteen-year bonds, redeemable September 1, 1891, and the remainder were 4 per cent thirty-year bonds, redeemable July 1, 1902. The gold standard act of March 14, 1900, provided for the redemption into 2 per cent thirty-year bonds of the 5 per cent bonds payable February I, 1904, the 4 per cent bonds payable July i, 1907, and the 3 per cent bonds payable August i, 1908. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.