Our Public Debt: An Historical Sketch with a Description of United States Securities

By Harvey E. Fisk | Go to book overview

CHAPTER VIII
Registered Bonds

REGISTERED bonds are certificates made payable to the owner, whose name and address are entered on the books of the Treasury Department at Washington, and whose name appears on the face of the bonds; title can be passed only by the owner executing the assignment form found on the back of the bond and having his signature witnessed by the proper official. Interest on registered bonds is paid by check.

Coupon bonds may be exchanged for registered bonds and, in the case of the Liberty Bonds, registered bonds may be exchanged for coupon bonds, but registered bonds of the old issues may not be exchanged for coupon bonds. All United States Government bonds now outstanding are issued in both coupon and registered form.


Assignments

In making assignments of registered bonds, care should be taken to observe the following regulations of the Treasury Department. The name of the registered owner must be spelled exactly the same on the assignment form as it is on the face of the bond. If the full name is given on the face of the bond it must be given on the back; the signature must be witnessed by the proper official, i.e., an official of the Federal Government who is authorized to receive acknowledgments, or executive officers of Federal reserve banks, or their branches, and of national banks and incorporated State banks

-94-

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