Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-10-14
U. S. 7-sO LOAN.

The Secretary Of the Treasury gives notice that
subscriptions will be received for OoupOu Treasury
Notes, payable three years from Aug. 18th, 1854,
with semi annual interest at the rate OF seven and
shrse-tenths per cent. per snnum-priucipal and
interest both to be paid in lawful money.
These notes Will bs convertible at the option of
the holder at maturity into six per cent gOd-bear
ing bonds, payable not less than five nor more than
twenty years from their date, as the Government
may elect. They viii be issued in denominations Of
$50, $780, $500 81 600 and s. 900, and all suhsorp
tiOns must be for fifty dollars or some multiple of
afty dollars
The notes will he transmitted to the owners free
of transportation charges as soon after the receipt
of the original Oertinoatss of Deposit as they can
be prepared.
As the notes draw interest nom August IS, per-
sons making deposits subsequent to that date must
pay the interest accrued from date Of note to date
OF deposit.
Parties depositing twenty-five thousand dollars
and upwards for these notes at any one time will be
allowed commission of one-quarter of one per
ceNt.
Special Advantages Of this Loan
I'm NATIONAL sAvIses BAEK, Offering a higher
rate of interest than any other, and the best security
Any savings bank which pays It's depositOrs in Q.
S. Notes. considers that it is paying in the hest cir
culstiug medium of the country, and 1T cannot pay
in anything better, for fits own assets are either
government securities or in notes or bonds payable
in government paper.
II is equally convenient as 8 temporary or per-
msnent investment. The notes can always be sold
for within fraction of their face and accumulated
interest, and are the best security with banks IS
oOllstersls for discounts,
Convertible into Six per Cent, 5-20
Gold ROnsI,
In addition to the very liberal interest on ths
notes for three years. this privilege of conversion Is
now worth about three per cent per annum, for the
current rate for 20 Bonds is not less than nine ps
ont PrsTaiSns; and before the war the premium on
six per cent. O. S. stocks was over twenty per cent
1t will be seen that the actual profit on this loan
the present market rate Is not less than ten per
cent. per snnum.
Its Exemption from State or AEunieI.
DaI Taxation.
But aside from all the advantages we have emu
merated, special Act Of Congress essnpss all bond
and Treasury notes from local taxation, On the sver
age, this exemption is worth about two per cent
per snuum, according to the rate of taxation in Va
riOus parts of the country.
1t is believed that no securities offer SO great in
dseemeuts to lenders as thOsSIssued ny the govern
msut In all other forms of Indebtedness, the faiil
or ability ofprivato parties, stock companies,
separate communities, only, is pledged for pay
ment, while the whole properly of the country i
held to secure the discharge of all the obligation
ol the United States.
While the government offers the most Hbera
terms for its lOans it believes that the very strong
est appeal will be to the loyalty and patriotism
the people.
Up to the Gath of September, the subscriptions {
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