The Grand Haven news. [volume] (Grand Haven, Mich.) 1858-18??, 1863-12-23
U. S. 5-2O's:

The Secretary of the Treasury has not yet Civ
en- notice of any intention to withdraw his pop
ular Loan from Sale at Par, and until ten days
notice is given, the undersigned, as "GeneraI
Subscription Agent" will continue to supply the
public.
The whole amount of the Loan authorized is
Five Hundred Millions Of Dollars. Nearly
-Four Hundred Millions hare been already sub
scriLed for and paid into the Treasury, mostly
within the last seven months. The large de-
mand from abroad, and the rapidly increasing
home demand for use MS the basis for circulation
by National Banking Associations now erganiz-
ing in all parts of the country, will, in a very
short period, absorb the balance. Sales have
lately ranged from ten to fifteen millions week
~. frequently exceeding three millions daily,
and as it is we'll known that the Secretary of tho
Treasury has ample and unfaling resources in
the Duties on Imports and Internal Revenues,
and in the issue of the Interest bearing Legal
Tender Treasury Notes, it is almost certainty
that he will not find it necessary, for long
time to core, to seek market for any other long
or permanent Loans, THE INTEREST AND
PRINCIPAL OF WHICH ARE PAYABLE IN
GOLD.
Prudence and self interest must force the
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 tho prompt conclusion that they should lose
no time in subscribing to this most popular Loan.
1t will soon be beyond their reach, and advance
to handsome premium, as was the result with
the "Seven Thirty" Loan, when it was all
sold and could no longer be subscribed for at
par.
II is a Sic per Cent Loan, the Interest and
Principal payable in Coin, thus yielding over
Nine per Cent. per GnHum, 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
a long time past amounted to over n Quarter of
n Million of Dollars daily, n sum nearly three
times greater than that required in the payment
of the interest on all the 5-20s and other per-
manent Loans. So that it is hoped that the sur
plus Coin in the Treasury, at no distant day, will
enable the United States to resume specie pay
ments upon all liabilities.
The loan is called 5-20 from the fact that
whilst the Bonds may run for twenty years, yet
the Government has right to pay them off in
Gold at par, at any time after five years.
The Interest is paid hGlf-yoarly, viz: on the
first days of November and May.
Subscribers can have Coupon Bonds, which
are payable to bearer, and are $50, 500, $500
and $1,000; or Registered Bonds of same de-
nominations. and in addition, $4,000 and S10,-
OOO. For Banking purposes and for invest
ments of Trust-monies the Registered Bonds are
preferable.
These 5-20's cannot be taxed by States, cities,
towns or counties, and the Government tax on
them is only one-and-a-half per cent on the
amount of income, when the income Of the hold
or exceeds Six Hundred dollars per annum; all
other investments. such ms income from Mort
cages Railroad Stock and Bonds etc, must pa
from three TO five per cent tax on the income
Banks and Bankers throughout the Country
will continue to dispose of the Bonds; and all or
ders by mail, OF otherwise, promptly attended to.
The Inconvenience Of few days delay in the
delivery of the Bouds is unavoidable, the de-
mnnd being so great, butas interest commences
from the day Of subscription, no loss is occa-
stoned, and every effort is being made to dimin-
ish the delay. JAY COOKE,
Subscription Agent,
ia South Third street, Philadelphia.
Philadelphia, Nov. rs, 1868. [243 Wa