Civilian & telegraph. [volume] (Cumberland, Md.) 1859-1875, 1863-05-07

Agt., at Otlce Jay COOK a. 10 7
Bankers, ia S. Third St:
PHILADELPHIA, March %, 1868.
DEAR SIR:
Your letter of the Goth inst, is re-
ceived, and I will cbeerfully give you
the information desired by answering
your questions in due order.
LIST. These Bonds are called Five
Twenties' because, while they are twen-
ty year Bonds, they may be redeemed
by the Government in GOLD at any time
after fce years. Many people suppose
that the Interest is anly 500 per cent.
This is mistake they pay SIX per
cent. Interest.
End. Legal Tender notes or checks
upon Philadelphia or New York that
will bring Legal Tenders, are what the
Secretary allows me to receive. No
doubt your nearest Bank will give you n
check or Legal Tenders for your country
funds.
4th. The Bonds are sold at Par, the
Interest to commence the day you pay
the money.
4th. have made arrangements with
your nearest Bank or Banker, who will
generally have the Bonds on hand. If
not, you can send the money to me by
Express, and will send back the Bonds
! free of cost.
9TH The Bonds pay SIX per cent. In
terest in GOLD, three per cent. every six
months, or the first day of May and No
vembcr at the Mint in Philadelphia, or
at any Sub Treasury in New York or
elsewhere. If you have Coupon Bonds,
all you have to do is to cut the proper
| Coupon off each six months, and collect
it yourself or give it to Bank for collec-
tion. If you have Registered Bonds,
you can give your Bank power of at
torney to collect the interest for you.
9th. The duties on imports of all arti
oles from abroad must be paid in Gold,
and this is the way Secretary Chase gets
his gold. 1t is now being paid into the
Treasury a. the rate of Two Hundred
Thousand Dollars each day, which is
twice as much us he needs to pay the
In ,.erest in Gold.
iii. Congress has provided that the
Bonds shs II be PAID IN GoLD when due.
9Th. You can have either Coupon
Bonds payable to the Bearer, or Regis
tered Bonds payable to your order:
9th. The former are in sos, zoos,
5OO's and 1O00s,-th latter IN same
amcupts, also $5000's and $4,000.
11th No! Yon will not have to pay
any taxes on these Binds if your income
from them does not exceed 5000; anu
on all above 5000 you will only have to
pay one-half as much Income Tax as if
your money was invested in Mortgages
or other Securities. | consider the Gov
ernment Bonds as first of all-and other
Bonds are taxed one.quarter per cent, to
pay the Interest on the Government
Bonds, and the Supreme Court of the
United States has just decided that no
State or City or County can tax Gov
ernmcnt Bonds.
11th. The present bonded debt of the
United States is less than THREE Hun
DRED MIDLIoNs, including the seven and
three -tenths IRE isury Notes but the
Government owes enough more in the
shape of Legal Tenders, Deposits in the
Sub-Treasures, Certificates of lndebtod-
ness, &c, to increase the debt to about
eight or nine hundred millions Score
tary Chase has calculated that the debt
may reach one thousand seven hundred
millions, if the Rebellion lasts eighteen
months longer. 1t is, however, believed
now that it will not last six months
longer; but even if it does, our Nation
al Debt will be small compared with that
of Great Britain or France, whilst our
resources are vastly greater.
10Th | have no doubt that the reve-
ue will not only be ample to pay ene
ordinary expenses of the Government |
and all Interest on the debt, but leave at |
least one hundred millions annually to- |
ward paying off the debt, and that the
Government will be able TO get out of
debt again as it was twice before in a
few years after the close of the war.
| hope that all who have idle money !
will at once purchase these Five-Twenty
Year Bonds. The right to demand them
for Legal Tenders will end on the first
day of July, 1868, as per the following !
authorized notice;
SPECIAL NOTICE.
On and after July 1st, 1858, the priv |
ilege of converting the present issue of
Legal Tender notes into the national six
per cent. Loan Commonly called "Five-
Twentics') will cease.
All who wish to invest in the Five
Twenty Loans must, therefore, apply
before the 1st of July next.
JAY CooLE, Subscription Ag't.,
No. ia S. Third St. Philsdelphia.