The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1864-08-24
Prom the y. Y. Examine
The 100 Government Loan.

Many OF the advantages Of this loan are
apparent on their face. but their are Others
that Will be best understood after cOnsidera- +
ton Among them there are
rs ABSOLUTE >E,URITY Nearly all active
credits are now based on Government Secu-
rites. Banks OF issue and Savings banks
hold them in large quantities many ca
ses. more than the entire amount of their
capitals and they hold them ~ the very
best and strongest investment they could
possibly make. II il were possible 10 con-
template the financial failure OF the Govern
ment. no bank would be any better or safer.
Savings Banks already have a large part Of
their assets invested in Government securi-
ties. A. u rule they allow but five per cent
interest and can only pay principal or inter-
I est in greenbacks or State Banks. for every
note or bond held by them and due before
the resumption OF specie payments Is pay
able in Government legal tender paper
Banks OF issue and discount can not ask or
get anything better in payment ofcuStomers
notes. and they prefer il 10 all other for
they are compelled 10 redeem their own
notes in that paper as the circulating medi-
um next 10 specie In value. BY the Issue
of this loan the L. :. Treasury becomes
>aringS tank for he people There IL none
that pays 80 literally Tor the Use OF money.
You may deposit fiity dollars or fifty thous
and. The more You put in the more lou
aid and strengthen the Government. aud
the more valuable viii be- the remaining
currency of the country.
It's LIBERAL INTEPEsT The g,ntr0i rate
of interest i SiN per cent. payable annual
tx. THIS is seven three-tenthS payable Seini-
p anau0lg. ElyOu lend on a mortgage. there
must be a searching OF titles. lawyers fees.
stamp duties and delays. and YOU will finally
have returned 10 You only the same ki.ud
ofmOneyyou would receive from tue govern
ment. and less of il. YOU invest in this
loan You have no trouble. II there j. "a
National bank al hand. any banker Will
obtain it for You without charge and pay
! YOU the interest coupon M the emf of SiN
months as a most convenient form of remit
! lance 10 his city correspondent. II You wish
: 10 borrow ninety cents on the dollar upon
/ 10. you have the highest security IN the mar
ket 10 DO il with. lfyou wish 10 sell, IL vii
bring within fraction Of cost and Interest
! at any moment. 1t viii be very handy [,
have in the house
It's CONYERTlBUITI INTO A SIX PER tENr
BoND. Here comes an advantage that mus
not bp lost sight oL Al the expiration Cd
three years a holder OF the notes OF the -,
loan has the option OF accepting pay in tul
i or of funding his notes in siN per cent
r. gold interest bond. the principal payable u
q nOt less than five nor more than twenty year
. from lis date a. the Government elect. to
six months past, these bonds have rlnge'
at an average premium OF about eight pc
y cent. in the \. Y market. and have sold "A
e 100 to-day. July 2o). Before the war. |
:. SIX per cent. stocks sold al much highe
rate-and were once bought up by the L
: Treasury under special act of COngre>
J. nj a premium not less than twenty per cent
= There l. no doubt that this option of con
% version is worth al least two or three pee
cent per annum To the subscriber 90 th
loan thus increasing the actual rate of 40
terest To about ten per cent Notes 0f th
i same class issued three years ago, are nov
selling at premium that fully proves IA
d correctness of this statement.
rs EXEMPTION FROM STATE OR MUNIClPN
j. TAXATION. But aside from al the advan
tages We have enumerated. special act 81
Congress e.elRDts MI bOHiS u,3d Treasiir
,i0ieS from local hLrGhOH. ON the aNerag
this exemption Is worth about TWO per cent
:, per aunum. according TO the rate of taxation
h i'm varions parts oithe country Can great
or inducements he asked for than those "
, have enumerated.
; The Secretary of the Treasury has bee
J, told that he must " JuV money at the high
" est rate necessary 10 command II; that b
= should sell hiS obligations " for what the
= would bring. 50 a. 10 lead the market; bu
q, the Secretary will do no such thing.
ia Shylock bought bonds nj 90 in August. D
y would demand concession of another te
~ per cent. in September and twenty in dc
= toher. until he would finally offer 10 len
p only the interest and keep the principal
~ IfGovernment securities are worth anythin
: they are richly worth all their face calls f0
" in gold. and the country Is not 20 poor
= spirit or in purse IL To submit % any sic
- sacrifice a. -hylock demands. There Is ou
~ "a limited supply OF money seeking invest
ment at any time, and the Government o
-, lers To pay literally for it, use Al ui
10 rate OF seven and three-tenihs per cent. pc
annum. To say nothing of the collateral "a,
vamla.ees. il is the strongest borrower
BIS the market. and every fceling OF Interest,"
d. we'll a. patriotism and duty, should Undue
IL orr readers 10 invest in lis loans.