The daily Evansville journal. (Evansville, Ind.) 1862-1863, 1863-04-02

the Government finances so clearly and
fully that we deem it of the highest i'm
portance to the public:
-,BERKs Co., Pa, March 20, 1868.
Jay Cooke, Esq, United States Loan
agent, No. IA South Third street,
Phiiadelphia .
DEAR SIR:-l see by our papers that
your are selling for the Government a
new loan, called "Five-Twenties. | ex-
pect to have shortly few thousand dol
lars 10 spare, and as | have made up my
mind that the Government loans are safe
and good, and that it is my duty and in
terest at this time, to put my money into
them in preference to any other loans
and stocks, | write to get information of
you as follows:
LIST, Why are they called "Five-Twen-
ties?'
ID. Do you take country money or
only legal tender notes. or will a check
on Philadelphia or New York answer for
subscriptions? ..- r.
Sd. Do you sell the bonds at par?
4th As cannot come to Philadelphia
how am to get the bonds?
9th. What interest do they paw, and
how and where and when is it paid, and
is it paid in gold or legal tenders?
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?
Sth. Can 1 have the bonds payable.. 70
PAYABLE to my order?
9th. What size are the bonds?
10th Will | have to pay the same tax
on them as | now pay on my railroad or
other bouds?
llth. What is the present debt of the
Government, and what amount is it like
" to reach if the rebellion should last
year or two longer?
18th. Will Secretary Chase get enough
from Custom House duties and Internal
Revenue, income taxes, &C., &c, to make
it certain that he can pay the interest
punctually?
have no dout that a good many of my
neighbors would like to take these
bonds, and you will answer my ques-
tions l will show the letter to them.
Very respectfully, S. NJ. F.
Office of Jay Cooke, Subscription |
Agent, at office of Jay Cooke &
Co, Bankers, No. Ill South Third !
Street,
PHILADELPHIA, March %, 1863
DEAR SIR:-Your letter of the Goth
inst is received, and | will cheerfully
give you the information desired bv an
swering your questions in due order
lst. These bonds are called "Fiye-
Twenties because, while they are
trenty-year bonds, they may be redeem
ed by the Government i'll gold at any
time after FIVE years Many people sup
pose that the interest is only 5 20-lOO
per cent This is a mistake. They pay
per cent interest
I'd. Legal-tender notes or checks upon
Philadelphia or New York that will
bring legal-tenders are what the Secre
tary allows me to receive No doubt
your nearest bank will give you check
or legal-tenders for your county funds.
Sd. The bonds are sold at par, the in
terest to commence the day you pay
your money.
4th | have made arrangements with
your nearest bank or banker, who will
| generally have the bonds on hand. i
not, you can send the money to me by
express, and l will send back the bonds
free of cost.
5th. The bonds pay six per cent in
terest in gold, three per cent every 81!
months, on the lst day of May and No
vember, at the mint in Philadelphia, o
any sub-treasury in New York or else
where. If you have coupon bonds, al
YOU have to do is to cut the proper cou
pom off each six months, and collect
yourself or give it to your bank for co
lection; if you have registered bonds
you can give your bank a power G
attorney to collect the interest for you.
9th. Congress has provided that tn
bonds shall be paid in gold when due
7th. The duties or imports of all art
cles from abroad must be paid in golc
and this is the way Secretary Chase get
his gold; it is now being paid into tn
Treasury at the rate OF 100000 eac
day, which is twice as much as he need
to pay the interest in gold
Sth You can have either coupe
bonds, payable to the bearer, or regi
tered bonds, payable to your order.
, 9th The former are in SOS, 10Oi
! 50Us, and 100Us-the latter in sam
amounts; also 5,000s and l0000s.
10th. MOI You will not have to pa
any taxes on these bonds if your incom
! from them does not exceed 5000; and o
all above 5000 you will only have to pa