Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1863-12-17
u. s. 5-2O's.


THE SECRETARY or THE TREA.
u SURY has not yet given notice Of any In
tentien to withdraw this popular Loan from
Sale at Par, and until ten days notice is given,
the undersigned as General Subscription
Agent" will continue TO supply the public.
The whole amount of the Loan authorized,
is Five Hhndred Millions of Dollars. Nearly
Three Hundred Millions have been already
subscribed for and paid into the Treasury
mostly within the last six months. The
balance, 1.-TWO Hundred MillIons,) is hardly
sufficient TO furnish the basis for circulating 2
notes for the National Banking Association,
now rapidly organizing in all parts Of the
country
Sales during Nay, June and July, reached
frequently Two Millions, Daily. 1t is con-
6dently expected that the sales win again in
crease, especially as large foreign demand
(mostly from GermaDy,) has lately sprung up,
which is likely to absorb One or Two Millions.
weekly. very short period only must
elapse before this Loan is wholly absorbed,
and ss it is 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. 1t is
almost certainty that he viii not find it
ucCccchTyg lOE u lOnk btLiC W COulCs W ecck u
market for any other long or permanent Loans,
the Interest and Principal Of which are pay
able in GOLD.
Prudence and selfinterest must force the
minds Of those contemplating the formation
Of National Banking Associations, as well IS
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 10 a handsome pre-
mium, as was the result with the "Seven-
Thirty" Loan when it was all sold and could
no longer be subscribed for at par. ]
1t 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 10 over q
Quarter of Million of Dollars, daily, a sum
nearly three times greater than that required
in the payment of the interest on all the
5-2Gs and other permanent Loans. So that
it is 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 $50 from the fact that
WnilsJ U1e DOnus may run IOr ~ years, yet
the Government has the right to pay them off
in Gold, at par, at any time after 5 years.
The Interest is paid half-yearly, viz: On
the first days of November and May. y
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
of Trust monies, the Registered
Bonds are preferable.
These 5-20'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
as 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
will 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.
- '-ai i- SUBSCRIPTION AGENT,
FIRST NATIONAL BANK, GALLIP0LIS.l |
Dec. 10, 1868. .-i -