Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1864-02-03
U.S.5.2O'S

The Secretary OF the Treasury has not
yet given notice of any intention to withdraw thi;
popular Loan from Sale at Par. and until ten day;
notice is given, the undersigned. as
Subscription AGENT will continue 10 supply
the public.
The whole amount of the Loan authorized is Five
Hundred Millions of Dollars. Nearly -Four
Hundred Millions have been already
subscribed for and paid into the Treasu.
~. mostly within the last seven months. The
large demand from abroad. and the rapidly in
creasing home demand for use as the basis for cir
c~ulation by the National Banking Associations now
organizing in all parts Of the country. will, in a
very short period. absorb the balance. Sales have
lately ranged .frem ten to fifteen millions weekly
frequently exceeding three millions daily. and as it
is we'll known that the Secretary of the Treasury
has ample and u~nfailing resources in the Duties on
Imports and Internal Revenues. and in the issue OF
the Interest bearing Legal Tender Notes, it is al
most a certainty that he will not find it necessary.
for a long to come. TO seek a market for any other
long or permanent Loans. THE INTEREST AND
PRINCIPAL OF WHICH. ARE PAYABLE IN
GOLD.
Prudence and self interest must force the minds
of those contemplating the formation Of National
Banking Associations. as we'll as the minds of those
having idle money on their hands. to the prompt
conclusion thatthey should lose no time in subSers
bling to this most popular Loan. 1t will soon be be-
yond their reach. and advance to a handsome pre-
MUM, as was the result with the Seven Thirty
Loan, when it was all sold and could no longer be
subscribed for at par.
1t Is n Six per Cent. Loan. the Interest
and Principle payable I'm Coin, thus
yielding over Nine per Cent. per anDum
at the present rate of premium on coin.
The Government requires all duties on imports
to be paid in Coin these duties have for a long
time past amounted to over a Quarter Of a Million
of Dollars daily, n sum nearly three times greater
than that required in the payment of the interest
on all the 5-2Os and other permanent Loans. So
it is hoped that the surplus Coin in the Treasury, at
no distant day, will enable the United States to re-
sumo specie payment upon all liabilities.
The Loan is called $40 from the fact that whilst
the Bonds may run for % years yet the Govern
ment has a right to pay them of in Gold at par. at
any time after 5 years.
The Interest is paid half-yeRrly, viz: on
the first days of November and May.
Subscribers can have Coupon Bonds. which are
payable to bearer. and are $50. 800. and $1,000: .Or
Registered Bonds of same denominations. and in
addition, 5000 and 10000. For Banking purposes
and for investments of T~rust-monies the Registered
Bonds are preferable.
These 5-20's cannot be taxed by States, s%cities
towns. or counties. and the Governmental on them
is only one and a-half per cent, on the amount Of
income. when the income of the holder exceeds
Six Hundred dollars per aunum all other invest
ments, such as. income from Mortgages. Railroad
Stock and Bonds. etc, must pay from three to Eve
per cent tax on the income.
Banks and Bankers drought the Country will
to dispose of the Bonds; and all orders by
mail or otherwise promptly attended to.
The inconvenience of a few days delay in the
delivery of the Bonds is unavoidable, the demand
being SO great; but as interest commencesf from the
day of subscription. no loss is occasioned and
every effort is being made to diminish the delay.
JAY COOKE,
SUBSCRIPTION AGENT,
ia SOUTH THIRD STREET. PHILADEL-
PHIA. Philadelphia, Nov. %, 1868.
Dee 9th Qy |