a total aggregate of $10,000,000
of said bonds on the terms and conditions following:

"First. The bonds covered by this contract shall be sold for
resumption purposes.

"Second. The parties of the second part shall have the exclusive
right to subscribe in the same proportion of each of the subscribers
for the remainder of the $50,000,000 of the four and a half per
cent. bonds of the United States authorized to be issued by the
acts of Congress aforesaid; but the amount to be so subscribed
shall not be less than $5,000,000 for each and every month after
the present month of April.

"Third. That the Secretary of the Treasury shall not sell, during
the continuance of this contract, any bonds other than such as by
act of Congress may be provided to be sold for the payment of the
Halifax or Geneva award, and the four per cent. consols of the
United States, and those only for refunding purposes, except by
mutual agreement of the parties hereto.

"Fourth. The parties of the second part agree to pay for the said
four and a half per cent. bonds par and one and a half per cent.
premium and interest accrued to the date of the application for
the delivery of said bonds, in gold coin or matured United States
gold coin coupons, or any of the six per centum 5-20 bonds heretofore
called for redemption, or in United States gold certificates of
deposit issued under the act of March 3, 1873, or in gold coin
certificates of deposit of authorized designated deposit, and that
have complied with the law.

"Fifth. The parties of the second part shall receive in gold coin
a commission of half of one per centum on all bonds taken by them
under this contract, as allowed by the act of July 14, 1870, and
shall assume and defray all expenses which may be incurred in
sending the bonds to London or elsewhere, upon their request, or
by transmitting the bonds, coupons, or coin to the treasury department
at Washington, including all cost of making the exchange. The
bonds shall also be charged with the cost of preparation and issuing
of the bonds.

"Sixth. No bonds shall be delivered to the parties of the second
part, or either of them, until payment shall have been made in full
therefor, in accordance with the terms of this contract.

"Signed by John Sherman, Secretary of the Treasury, J. & W. Seligman
& Co., Morton, Bliss & Co., August Belmont & Co., the First National
Bank of New York, Drexel, Morgan & Co.; and by Assistant United
S