Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-05-12
U. S. TEN-FORTY BONDS.


gress of March sth, 1854, which provides that in
lieu of so much of the loan authorized by the
Act of March Sd, 1863 to which this is supplement
tary, the Secretary otthe Treasury is authorized
to borrow from time to time, on the credit of the
United States, not e1cee ling 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 EX-
EMPT 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
Government, at any period not less than ten nor
more than Jorsy gears from their date, and until
their redemption FIVE PER CENT. INTER
EST WILL BE PAID IN COIN, on Bonds Of
not over one hundred dollars annually, and on
all other Bonds sem-annually.
The interest is payable on the first days OF
Msrch and September in each year. The semi
annual Coupons are payable at those dates, and
the annual Coupons on the 80 and 100 dollar
Bonds are payable on the first of March.
Subscribers will receive either Registered or
Coupon Bonds, as they may prefer. Registered
Bonds are recorded on the books of the United
States Treasurer, and can be transferred only
on the owners order. Coupon Bonds are paya-
bic to bearer, and are more convenient'for
commercial use.
Registered Bonds will he issued OF the denom-
nations of Fifty Dollars $50, One Hundred
Dollars Cs1O0, Five Hundred Dollars $500,
One Thousand Dollars $1,000, Five Thousand
Dollars (s5OOO), and Ten Thousand Dollars
$4,000; and Coupon Bonds Of the denomina-
tons of Fifty Dollars $50, One Hundred Dol
lars ts1OO), Five Hundred Dollars $500, and
One Thousand Dollars $1,000.
Subscribers to this loan will have the option OF
having their Bonds draw interest from March 1st,
by paying the occurred interest in coin-or in
United States notes, or the notes Of National
Banks, adding fifty per cent. for premium,) or
receive them drawing interest from the date Of
subscription vnd 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 tax evies in various parts of the country
Atthe present rate of premium on Gold they
pay over eight per cent. interest in currency,
and are Ofequal convenience as a permanent or
temporary investment.
1t is believed that no securities offer so great
inducements to lenders as the various descrip-
tions of United States Bonds In all other forms
of Indebtedness, the faith or ability ofprivate
parties or stock companies or separate commu-
mites only is pledged for payment, while for
the debts Of the United States the whole proper
ty of the country is holden to secure the pay
ment of both principal and interestin in coin.
These Bonds may be subscribed for in sums
from $50 to any magnitude, on the same terms,
and are thus made equally available to the small
lest lender and the largest capitalist. They can
be converted into money at any moment, and
the holder will have the benefit ofthe interest
The facts that all duties on imports are payable
in specie furnishes fund for like payment of in
tereston sill Government Bonds largely in excess
ofthe wants Ofthe treasury for this purpose.
Upon the receipt of subscriptions a certificate
of deposit therefor, in duplicate, will be issued,
the original ofwhich Will be forwarded by the sub
scriber to the Secretary of the Treasury, at
Washington, with letter stating the kind (reg-
stered or eoupon) and the denominations Of
bonds required.
Upon the receipt of the original certificates at
'he Treasury Department, the bonds subscribed
or will be trsnsmittedtO to subscribers respect
vely.
Subscriptions viii be received by the Treasurer
the United States at Washington, and the Assist
mt 7FeasursTs at New York, Boston, and Phila-
elpha, and by the First National Bank of Cleve-
and, O., and the Second National Bank of Cleve-
and, o., and by all National Banks which are
epOsitaries of public money. All respectable
anks and bankers throughout the country will
lrnish further information on application, and
ford every facility to subscribers
may2I5O