Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1863-04-08
THE BEST WAY TO PUT MONEY OUT AT
INTEREST

The following information we insert IN our
columns for the benefit of our readers;
From The Philadelphia Ledger. March 27.]
One of the most surprising things in the re-
I cent conversion of greenback notes into the
popular Five Twenty six per cent. Govern
ment loan at par, is the universally of the
call. We happened in, yesterday. at the Of
fee of Jay Cooke, who is the agent for the
sale of these loans, and the conversion of the
greenbacks, and found his table literally COW
cred with orders and accompanying drafts for
almost all amounts, from five thousand to
hundred thousand each, and from II parts of
the Union. The little states of Deleware and
New Jersey are free takers. As are also Penn
sylvania, New York and the New Englan
States. But the West is most especially an
active taker, as well through her banks as by
individuals. The amount of orders lying be-
tween us, all received during the day, amount
ed to over fifteen hundred thousand dollars.
With this spontaneous profer of money, Sec
retary Chase must feel himself entirely at ease.
and will take care to put himself beyond
those money sharpers, whose chief study is
how to profit themselves most from the troub
les of the country and the necessities of the
treasury. There are millions OF dollars lying
id all over the country, and while the uncer-
tainty existed as to what Congress would do
and the bullion brokers were successful, cap
ital was clutched close. But as the policy
and measures OF the secretary of the treasury
are gradually developed, confidence in the
Government in the future is strengthened :,
and holders now anxious to make their
long unemployed means productive hence
| the ready and liberal investments in the Five
Twenty loans at par. Almost every town aud
village throughout the country has ndiv idnal
holders of money to larger amounts probably
| than ever before at one time, for which satis-
factory takers can not be found. Many of
| those are now investors in these loans, and
| the number of such is likely to increase, .un-
til the demand shall put all the government
| loans par with, at least the loans of the
rious incorporated companies. The country
banks are also free takers for themselves and
their customers. On the Ist of July this FIVE
Twenty Year loan will, under the law, be
withdrawn.
| -, BERKs Co, PA, March. 20, 1858.
JAY Cooke, ESQ.,, United States Loan Agent,
| ia South Third Street, Philadelphia
| Dear Sir: see by our papers that you are
selling for the Government a new loan called
ssFive Twentes.'' expect to have shortly
| few thosand dollars to spare, and as | have
made up my mind that the Government Loans
are safe and good, and that it is my duty and
| interest. at this time, to put nv money into
them in preference over any other loans or
! stocks write to get information OF you as
| follows:
1st. Why are they called .sFive Twenties 7''
End. Do you take country money, or only
Legal Tender Notes, or will a check on Phil
adephia, or New York, answer for subscrp-
/ tions2
3d. Do you sell the Bonds at par?
4th. As cannot come to PhiIadephia, how
am to get the bonos3
5th. What Interest do they pay, and how
and when and where is it paid and is it paid
| in Gold or legal Tenders7
9th. How does Secretary Chase get enough
/ Gold TO pay this INTEREST,"
| 7th. Will the face of the Bonds be paid in
! Gold when due
8th. Can have the Bonds payable to Bear
er with Coupons, or registered and payable to
my order7
9th. What sizes are the Bonds?
10th. Will have to pay the same tax on
them as l now pay on my Railroad, or other
Bonds +?
11th. W hat is the present debt of the Gov
| ernment, and what amount is it likely to
reach if the rebellion should last year or
two longer?
18th. Will Secretary Chase get enough
from Custom House duties and Internal Rev.
enue, Income Taxes, &C., &c, to make it cer-
tain that he can pay the Interest punctually I?
1 have no doubt that good many of my
neighbors would like to take these Bonds,
and if you will answer my questions 1 will
show the letter to them.
Very Respectfully, S-M-F-.
Office of JAY COOKE Subscription Agent, at
Office of JAY Cooke Il Co., Bakers, ia S. Sd st. !
PHILADELPHIA, MARCH %, 1868.
Dear Sir: Your letter of the Goth INST. is re-
ceived and I will cheerfully give you the in
formation desired by answering your questions
in due order.
Ist These bonds are called 'sfve -twenties"
because, while they are 20 year Bonds, they
~