Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1863-04-18
OGce Of JAY COOkG, Subscription Agent. at
Office Of JAY COOKE 4 Co, BaHktTS, has. T. 81.


Office Of JAY COOKE Co, BANKERS, Has T. 81.
PHILADELPHIA, March %. 1868
DEAR SIR Your letter of tee Goth inst is re-
ceivad. and | will cbeerfully give the information
desired by answering your questions in due order.
lst. These Bonds are called "Five-Twentes'i be-
cause while they are tUsnty year Bonds, they mar
be redeemed by the Government in GOLD at any
time after fre years. Many people suppose that the
Interest is only 20 per cent. This il a mistake
they pay SIX per cent. Interest.
2nd Legal Tender notes or checks upon Pbila-
delphia or New York that will bring Legal Tenders,
are what the Secretary allows me 10 receive No
doubt your nearest Bank will give you check or
Legal Tenders for your country funds
The Bonds are sold at PAR, tho Interest to com.
mence the day you puy the money
4th. have made arrangements with your nearest
Bank or Banker, who will generally have the Bonds
on hand. If not, you eau send the money TO me by
Express, and Will send back the Bonds free Of
cost
9Th The Bonds pay Six per cant, Interest in Coin,
three per cent. every SIX months, on the first day of
May and November, at the Mint in PhilHd elphiu or
at any Sub-Ireasury in New York or elsewhere. II
you have Coupon Bonds all you have to do is to
the proper Coupon of each six months and collect il
yourself or give it to Bank for collection If you
have Registered Bonds, you can give your Bank a
power of attorney to collect the interest for you
9th The duties on imports Of all articles from
abroad must be paid in GOLD, and this is the way
Secretary Chase gets his gold. 1t is being paid
into the Treasury at the rate of Two Hundred Thou
sand Dollars each day, which is twice Us much as he
needs 10 pay the interest In uOld.
9TH. Congress has provided that tho Bonds shall be
PAID IN GOLD when due
9th. You either have Coupon Bonds payable
to the Bearer, or Registered Bonds payable to your
order.
9th, The former in sos, zoos, 500s and 1000 E
the latter in same amounts, also S5000s and Sl0,-
900.
10th No! You will not have to pay any taxes on
these Bonds If your income from them does not ex-
coed $500 and all above $500 you will only have
TO pay one-half as much Income Tax ms if your mo-
ney was invested in Mortgages or other securities
consider the Government Bonds as ErSt Of aH-all
other Bonds are taxed quarter per csRt. to pay
the Interest on tho Government Bonds, and the Su-
preme Court Of the United States had just decided
that no State or City, or County can tax Government
Bonds.
llth The present bonded debt Of the United States
is less than Three HUNDRED MILLIONS, including
the seven and three-tenth Treasury Notes but the
Government owes enough more in the shape of Legal
Tenders Deposits in the Sub-Treasuries, Certificates
Of Indebtedness dc, TO increase the debt to about
eight or nine hundred millions. Secretary Chase has
calculated that the debt may reach one thousand,
seven hundred millions, ii tie Rebellion lasts eighteen
months longer, 1t is, however believed now that it
our National Debt will be small compared with that
ofGreat Britain or France, whilst our resources arc
vastly greater.
18th. have no doubt that tho revenue will not
only be ample to pay the ordinary expenses Of the
GOV ernment and all Interest the Debt, but leay
at least one hundred millions annually toward paying
of the debt, and that the Government will be able 10
get out of debt again il bas twice beforo-in few
years after the close OF the war.
bcrs that all who haye Idle money will at cnce
purchase th,ss riverrsn,y Year Bonds The