Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1863-04-09
OFFICE OF JAY COOKE, Subscription Agent at
OFFICE Of JAY COOKE i Co., Bankers,
ia South Third Street.
PHILADELPHIA. March %.

PHILADELPHIA, March %, 1868.
DEAR Sir Your letter OF the Goth inst. is received.
and will cheerully give the information desired by
answering your questions in due order.
lst. These Bonds called Five-Tnenties' be
cause while tney are wsnty year Bo nds, they may be
redeemed by the Government in Gold at any time after
re years. Many people suppose that the interest is
only5 20l0o per cen-ths is mistak e, they pay SIX
per cent Interest.
End Legal Tender notes or checks upon Philadelphia
or New York that will bring Legal Tender what
the Secretary allows to receiveno doubt your
est Bank will give you check or Legal Tenders for your
country funds.
Sd. The bonds are sold at PAR the interest to com.
mence the day you pay the money.
4th. ! have made arrangements with your nearest
Bank Bunker who will generally have the Bonds
hand II not you send the money to me by Express,
and will send back the Bonds free of cost
5th. The Bonds pay SIX per cent. interest in GOLD,
three per cent every six months the first day OF May
and November at tie Mint in Philadelphia, or at any
coupon Bonds, all you have to do to cut the coupon
off each six months and collect yourself give
your Bank for collection if you have Registered Bonds
you give your Banker power OF attorney to collect
the interest for you
9th. Congress has provided that the Bonds shall be
PAID when due.
7h. The duties imports Of all articles from abroad
must be paid in Gold. and this is the way Secretary
CHASE gets his gold it being paid into he Treas
ury at the rate OF Two Hundred Thousand Dollars each
day, which is twice as uch as ne needs to pay the in
terest in the Gold.
Sth You can have either Coupons Bonds payable TO
the Bearer, Registered Bonds payable to your order
Sth The former in SOS lO0's and l0OO's-the
latter in amounts, also SIS Coos and $40 COOS
10. No ! You will not have 70 pay any taxes these
bonds your income from them does exceed 5000 and
all above 5000 you will only have TO pay onehalf
much Income Tax, as it your money invested in
Mortgages other Securities consider the Govern
ment Bonds first of d-a other Bonds are taxed one
quarter per cent to pay the interest the Government
Bonds. and the Supreme Court of the United States has
just decided that no State, or City or County can tax
Governments Bonds.
lth. The present bounded debt of the United States
sless than THREE HUNDRED MILLIONS, including the
aud th reetenths Treasury Notes but the Gov
ernment owes enough more in the shape of Legal Tend
ers Deposits in the SubTreasuries Certificates OF In
debtedness &c. increase the debt to about eight or
nine hundred millions. Secretary CHASE has calcuat-
ed that the debt may reach thousand, seven hun
dred millions il the rebellion lasts eighteen months lon
ger. Its, however believed that it will not last
SIX months longerbut even if does National debt
Will he small compared with that of Great Britain
France, while resources are vastly greater
18th. have no doubt that the will not only
be ample to pay the ordinary expenses OF the Govern
ment and all interest the debt, bu. leave least
one hundred millions annually toward paying of the
debt, and that the Government will be able to get ont
OF debt again as il has twice betore-in few years af
ter the close of the
hope that all who have idle money will at once pur
chase these FlveTwenty Year Bonds The right to de-
mand them for legal tenders will end the first day OF
July, 1868.
On and after July 1863, the privilege Of converting
the present issue OF Legal Tender the nstons
six per cent. loan, Commonly called FiveTwentes"
will cease.
All who wish to invest in the Five.Twenty Loan must,
therefore, apply before the lst of July next.
Those who neglect these Six per cent Bonds the in.
terest and principal of which they will get in Gold, may
have occasion to regret it,
JAY COOKE, Subscription agent
AT OFFICE OF JAY COOKE CO.,
ia South Third St.. Phila