The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1864-05-13
J.: 5. 1910 BONDS.

Secretary of the Treasury Is authorized to borrow
from time to time, on the credit of the United
States, not exceeding TWO HUNDRED MILLION
DOLLARS during the current fiscal year, and to
prepare and issue therefor Coupon and Registered
Bonds of the United States; and all Bonds issued
under this Act shall be EXEMPT FROM TAXA
TON by or under any State or municipal au-
thority 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 Government at any period not less
than ten than forty years from their date
and until their redemption FIVE PER CENT. IN
TEREST WILL BE PAID IN CON- on Bonds of
not over one hundred dollars annually, and on all
other Bonds semi annually.
The interest is payable the first days of March
and September in each year. The semi-annual
Coupons are payable at those dates, and the an
nual Coupons on the so and 100 dollar Bonds are
payable on the first of March.
Subscribers will receive either Registered or Col
pom Bonds, as they may prefer. Registered Bonds
are recorded on the books of the U.S. Treasurer,
and can be transferred only ON the owners order
Coupon Bonds are payable to bearer, and are more
convenient for commercial uses
Registered Bonds will be issued of the denomi-
nations of Fifty Dollars ESQ., One Hundred Dollars
ts1oO9, Five Hundred Dollars t$5oW One Thousand
Dollars tsl,oao, Five Thousaud Dollars ts5 OoM and
Ten Thousand Dollars ts1o, OoO9 and Coupon Bonds
of the denominations of Fifty Dollars $500. One
Hundred Dollars t$loW, Five Hundred Dollars
$4,000 and one Thousand Dollars Isl, OOeJ.
Subscribers to this loan will have the option of
having their Bonds draw interest from March 1st
by payirg the accrued interest in coin-tor in
United States notes, or the notes of National
Banks. adding fifty per cent. for premium )-o
ceive them drawing interest from the date of sub.
scription and deposit.
As these Bonds are exempt from municipal or
State taxation their vane is increased from one to
Of tax lcvies in various parts of the country.
At the present rate of premium on gold they pay
over eight per cent. interest in currency and are
of equal convenience as permanent or temporary
investment
1t is believed that no securities offer 20 great
inducements to lenders as the various descriptions
of U. S. Bonds. In all other forms of indebtedness
the faith ability of private parties or stock COM
panies separate communities only is pledged for
payment while for the debts of the United States
the whole property of the country is holden to Sc
cure the payment of both principal and interest
n coin.
These Boz de may be subscribed for in sums
and are thus made equally available to the small
est lender and the largesr capitalist. They can be
converted into money at any moment and the
holder will have the benefit of the interest
The fact that all duties on imports are payable
in specie furnishes fund for like payment of in
terest on all Government Bouds largely in excess
of the wants of the Treasury for this purpose
Upon the receipt of subscriptions certificate of
deposit therefor, in duplicate, will be issued the
original of which will be forwarded by the sub
scrber to the Secretary of the Treasury, at Wash
ington, with letter stating the kind Registered or
couponl and the denominations of bonds required.
Upon the receipt of the original certificates at
the Treasury Department, the bonds subscribed for
will be transmitted to the subscribers respectively
Subscriptions will be received by the Treasurer of
the United States at Washington, and the assistant
Ireasarers at New York, Boston and Philadelphia,
and by the FIRST NATIONAL BANK OF ST. PAUL,
MINI; First National Bank of Chicago, ILL., Sec
Ond National Bank of Chicago, ILL., Third Ma.
tional Bank of Chicago, ILL.,; First National Bank
of Milwaukee, Wis. and by all National Banks
which are depositares of public money. All re-
spectacle banks ard bankers throughout the coun-
try will furnish information on application, and
afford every facility 10 subscribers.
May B. 1861. 3-d&w2w2dI