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

By Harvey E. Fisk | Go to book overview

CHAPTER IX
Lost, Destroyed and Defaced Bonds

Coupon Bonds

THERE is no authority under existing law empowering the Treasury Department to issue duplicates of United States coupon bonds which have been lost or stolen, or to redeem such bonds.

In the case of coupon bonds which have been destroyed or defaced, the Treasury Department is authorized upon proper evidence to issue new bonds. An indemnity bond must be filed.


Destroyed Coupons

In cases where coupons detached from the bonds have been destroyed or defaced, there is no relief.

So long as coupons remain attached to the bonds with which they were issued they are deemed to constitute parts thereof, and therefore if one or more coupons whilst attached to a bond becomes destroyed or defaced, this would be a case of partial destruction or defacement of the bond and a duplicate bond with proper coupons attached would be issued.


Registered Bonds

In the case of the loss, theft, or supposed destruction of United States registered bonds immediate notification of such fact should be sent the Secretary of the Treasury, Division of Loans and Currency, in order that a caveat may be entered on the books of the department against the transfer of such bonds.

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