The Express.
London, England, 1867-11-19 00:00:00

-UNITED STATES 5-20 and 10-40 BONDS,
at ?relent Prises, paying eves 8 per cent. and 7 per cent,
per annum respectively.

iASTICULAa of the ACTS AUTHOKIZINO the ISSUE of

ragas W)NDt

taring to the uncertainty in the minds of some as to the ulti-
mate payment of U.S. 1520 Bonds in gold, we have much plea-
sure In giving particulars of them, as also of the loan caned the
Ten. Forty Loan, which has just been Introduced on this market,
althoegh issued In 1866.
Our advice is, hold your 5-20's If you have confidence In the
implied faith of the U.S. government to pay them In gold ; but If
you have not, then we recommend you to exchange for 10-40's,
of which there can be no question as to their redemption In
specie. Although the rate of interest Is one per cent lees than
6-181, yet on the present price they pay over seven per ceiir
annum. Our information Is a synopsis of the acts authorizing
the lee, 1864, and 1865 Loans of the United States of America,
all of which are now quoted on the London Stock Zuhange.
The Act of February tith, 1842, " Authorised the issue of
8500,000,000 in 6 per Cent. Bonds, redeemable after five, and
Aril to in twenty years from date." Hence the name 5-91 Bonds.
This Act does not expressly stipulate that principal and Interest
shall he paid in gold, yet the Interest has hitherto been so paid,
and will doubtless' continue to be, as also the priucipal, unless
exchanged for some other security before maturity.
The Act of Much Srd. 1864, " Authorised the hue of Bonds
not exceeding e 200,000,000, bearing date March Ist, or sense-
spleeny, redeemable at the pleasure of the government after any
Period not less than five years, and payable at any period not
more than forty years from date in coin, bearing Interest not ex-
ceeding c per cent. yearly in coin." The Bonds were lamed,
bearing f. per cen
int. interest, and are knon as the Ten-Forty
Loan, which is the only one uto which the Act fies pay-
ment of principal and interest In gold. speci
The Act of March 1, 1965, under which the 5-20's of 1866 are
Issued, provides for their leme, and also for what are known es
Tais it the United States, as follows :—" Authorised an issue of
toeo.oao,ooo In bonds or Treasury notes; bonds may be made
pay.ible at any period not more than forty years from data of
fame, or may he made redeemable at the pleasure of the Wean-
meet at after any period not less than five, or more than forty
years from date : 'or may be made redeemable and payable as
aforesaid, as may be expressed upon their face; and so much
thereof as may be lamed in Treasury notes may be made OM-
rertlble into any bonds authorised by this Act, and be made re-
&email,: or payable at such periods as the Secretary of the Trea-
t:ars may deem expedient. The Interest on the bonds payable
semiannually; on Treasury notes semi-annually, annually, or at
natality thereof, and the principal or interest, or both, be made
Parable in coin or other lawful money; if in coin, not to mud 6
per cert. per annum : when not payable in coin not to exceed
7 3-10 per cent. per annum : rata and character to be aapeergl
on bowls or Treasury notes." Under this act were issnd Seven-
Thirties, due August 14th, 1867, June 14th, 1868, and July 14th,
IRei, mot 5.20's redeemable after five and payable 20 years
alter date. The when taken up, are exchanged for the
&Ara but as there le wilting said In the bond as to its being
end in gold, and the rate of Interest is arrived at by the coupons
attached, the act can no doubt be construed " coin or other
Leful money." But as the interest thus far has been paid In
rid, and en the Implied faith of the government calls for it,
there is no doubt, unless previously exchanged for some other
issue, that they will be redeemed In gold or Its equivalent.
We buy and sell, or exchange these bonds for any others, or
others for these, at the current rates of the day, charging one
counaission nonly on the exchange. We cub the interest ou
American bonds and stocks , Issue and collect drafts on any part
f the rafted States ; purchase American products, and receive
consignments "unable for American markets out cantabile&
BILDING, X KITH and Co.,
American Bankers and Ilruhruts,
London, Nov. 16,1867. 80, Lombetetreet, LC.

T 0 INVESTORS and BORROWERS.
FOURTH CITY MUITAL BUILDING and INVENTIEENT
,30CIP.Ty, 145, Cannon-street, London, LC.
CAPitl-1,500 shame, tea each—MON ; d which snore than
Vaace have been paid.
11," herb,have
midsd ,4easeh theol Societycuritlea. are Invested only on Mortgages of
Leasehold ae
Deposits received repayable at 14 days' notice. Present rate
of hnerest 4 per cent. per annum.
All persons smdap an eligible lavestmeint, or desirous of pur-
citishst Property, are Invited to apply for • prospectus.
The hala ace payable on advances cue In coarse of redemption
Is itc.s,ono. J. HIGHAM, Secretary.

INVESTMENT§ paying 10 per cent. and
upaards.—BARTLITT and rHAPMAYS INVESTMENT
Clkel LAk and FINANCIAL RECORD (post Free oks.%Filic'" Lion' Mb .11111 he consulted by all who wish to make and
profitahle Ivestments. Oakes, No. 2, Bucklersbury, E.C.
---------

MONEY to LEND,BA 6 per cent., with Life
Maumee, on real or good personal security. Salsa of
itererslow, Life Interest& and Amanda; negodaled•—AP9l7 to D. NAccuatvitAir, Y.LA. and 7.8.8., WA, Moorgateetzset.
London.

SILVER MEDAL awarded by the Jurors at the
Pada P.llilbitlon.—Mesers. E. Y. RMLY and Co. Invite
Rcotl...men to Inspect their stock of CILNTRAL 11.11 and PIN
CAP.TP.IDGE BRIMCII LOADING GUNS, of the and approved
Patents. Dont.% Rifles Oh the above systems for deer-stelldn,
de. Ilustrated price Ilat on a Matins.
002, 01/9 , LONDON.