The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1864-05-13
VOLUME XIV, NO. 20.
u. S. 1910 BONDS

These Bonds are issued under the a ct Of Con.
gress OF March 9Th, 1864, which provides that all
Bonds issued under this Act shall DO EXEMPT
FROM TAXATION by or under any state or
municipal authority. Subscriptions to these
Bonds are received in United States notes or
notes OF National Banks. They are TO BE
REDEEMED IN COIN, at the pleasure of the
Govornment, at any period not less than ten nor
more than forty years from their date and unit,
their redemption FIVE PER CENT. INTER.
EST WILL BE PAID IN COIN, on Bonds of
not over one hundred dollars annually .ai ON all
other Bonds semi annually. The interest is pay.
able on the first day Of March and September in
each year.
Subscribers will receive either Registered or
Coupon Bouds, as thoj may prefer. Registered
Bonds are recorded on the books of the U. S.
Treasury, and can be transferred only on the
! owners order. Coupon Bonds are payable to
bearer, uud are more convenient for commercial
uses.
Subscribers TO this loan will have tho option
OF having their Bonds draw interest from March
lst, by paying the accrued Interest in coin-(or
in United States notes, or the notes Of National
Banks, adding fifty per cent for premium } or re-
ceive them drawing interest, from the date of
subscription and deposit. AS these Bonds are
Exempt from Municipal or State Taxation,
their value is increased from one TO three per
cent per annum. according to the rate OF leyies
| in various parts OF the country.
| At,he presentrato Of premium on gold they pay
Over Eight Per Cent. Interest
in currency, and are OF equal convenience as u
| rml nent tpmnOrarv investm
| 1t is believed hat no securities offer so great
inducements TO lenders as the various dcscrip.
| ,ions of U. S. Bonds. In all other forms of in.
debtodness, the faith or ability of private par
tiee or stock companies or separate communi.
ties only is pledged for payment, while for the in
debtedness of the United States the whole prop.
crty of the country is holden to secure the pay.
mept of both principal aud interest in coin.
These Bonds may be subscribed for in sums
from $50 up to amy magnitude, on the same
terms, md are thus made equally available to
the smallest lender and tho largest capitalist
They can be converted into money at any mo-
mcnt, and tho holder will have the benefit of the
interest.
| 1t may be useful TO state in this connection,
that the total Funded Debt of the United States,
on which interest is payable in gold on the Sd
day OF March, 1864 was S76S 965 600. The inter.
est on this debt for the coming fiscal year will bc
S4s 1887 ,l26 while the customs revenue in gold
for the current fiscal year, ending June Soih
| 1854, has been, so far at the rate OF over slOO
G0O,000 per snnnm.
1t will be seen. that even the present gold rev.
cnues Of the Government nre largely in excess
of the wants Of the Treasury for the payment OF
| gold interest, while the recent increase of the
tariff will doubtless raise the annual receipts
from customs on the same amount OF imporia-
tons, to $3.50, ,cC0,OC0 per onnum
Instructions to the National Banks acting as
lonn agents wero not issued from the U. Statcs
Treasury unit March &c, but in the first three
weeks of April the subscriptions averaged moro
than Ten MILLIONS a WEEK.