Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1863-12-31
U. s. 5-2O's.

NsHY SECRETARY OF THE TREA-
i SURY he's aot yet given notice Of any in
tentien to withdraw this popular Loan from
Sais At Par, and until ten days notice is given.
ths undersiensd a. General Subscription
Agent viii continus to supply the public.
The whos amount Of the Loan authorized,
is Five Hundred Millions Of Dollars. Nearly
Thrss Hundred Millions have been already
subscribed for and paid into the Treasury,
mostly within the last six months. The
balance, 1.-Two Hundred Millions.) 10 hardly
suficient TO furnish the basis for circulating
notes for the National Banking Association,
now rapidly organizing in all parts of the
country.
saIes during May, June and July. reached
frequently Two Killions, Daily. It is con-
fdentIv expected that the sales will again in
crease. especially 40 q large foreign demand
fmostiy from Germany has lately sprung up,
which b likely TO absorb One or Two Millions,
weekly. very short period only must
elspse before this Loan 10 wholly absorbed,
and 10 it 10 well known that the Secretary Of
the Treasury has ample and unfailing re-
sources in the Duties on Imports and Internal
Revenues, and in the issue Of the Interest
bearing Legal Tender Treasury Notes; it 10
necessary, for Q long time 10 come, to seek .
market for any other long or permanent Loans,
the Interest and Principal of which are pay
able in GOLD.
Prudence and self-interest must force he
minds Of those contemplating the formation
of National Banking Associations, as well as
the minds Of all who have idle money on their
hands, to the prompt conclusion, that they
should lose no time in subscribing for this
most popular Loan. It will soon be beyond
their reach, and advance to a handsome pre-
Eaium, as was the result with the "Seven
Thirty" Loan when it was all sold and could
no longer be subscribed for at par.
Il is Six per cent Loan, the Interest and
Principal payable in Coin, thus yielding
about Eight per cent. per annum at the
present rate of premium on coin.
The Government requires all duties on i'm
ports to be paid in Coin; these duties have
for q long time past amounted to over q
Quarter of Million of Dollars, daily, sum
nearly three times greater than that required
in the payment Of the interest on all the
5-20s and other permanent Loans. So that
1t 10 hoped that the surplus of Coin in the
Treasury. at no distant day. will enable the
United States to resume specie payments upon
all liabilities.
The Loan is called 500 from the fact that
whilst the Bonds may run for 90 years, yet
the Government has the right to pay them of
1Olus dI AZ IiiHc Jeuis.
The Interest is paid half-yearly. viz: On
the first days of November and May.
Subscribers can have Coupon Bonds which
are payable to bearer, and are of $50, 500,
$500, and $1,000; or Registered Bonds Of
same denominations. and in addition, S. 900,
and $4,000. For Banking purposes and for
investments of Trust monies, the Registered
Bonds are preferable.
These 520's cannot be taxed by States,
cities, towns, or counties, and the Govern
ment tax on them is only one-and-a-half per
cent. on the amount Of income. when the in
come of the holder exceeds Six Hundred dol
lars per annum; all other investments, such
a. income from Mortgages, Rail Road Stock
and Bonds, etc, must pay from three to five
per cent. tax, on the income.
Banks and Bankers throughout the country
viii continue to dispose of the Bonds; and all
orders by mail, or otherwise promptly at
tended to.
The Treasury Department having perfected
arrangements for the prompt delivery OF
Bonds, Subscribers will be enabled to receive
them at the time of Subscription, or at furthest
in FOUR days. This arrangement will be
gratifying to parties who want the Bonds on
payment Of the money, and it is hoped, will
greatly increase the sales.
SUBSCRIPTION AGENT,
FIRST NATIONAL BANK, GALLIPoLIS.
Dec. 10, 1863.