Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-10-13
U. S. 7-sO LOAN.

The Secretary of the Treasury gives notice that
subscriptions will be received for COT pom Treasury
Notes, payable three years from Aug. 18th, 1861,
with semi-snnuaI interest at the rate of seven and
three-tenths per cent. per annum-prinoipal and
interest both to be paid in lawful money.
These notes VIII be convertible at the option of
the holder at maturity into six per cent gold-besr
ing bonds, payable not less than five nor more than
twenty years from their date, as the Government
may elect. They will be issued in denominations of
$780, 800, $500, 900 and 5000, and all suhsorip
tiOns must be for fifty dollars or some multiple of
fifty dollars.
The notes will he transmltted to this owners free
of transportation charges soon after the receipt
of the original Certificates of Deposit as they con
be prepared.
As the notes draw interest from 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
oeSt
Special Advantages OF this Loan
IT A NATIONAL SAVINGS BANK, Offering higher
rate of interest than any other and The best security
Any savings bank which pays its depOsitOrs III Q.
s. Notes. considers that it is paying In the hest cir
culatiug medium of the country, and It oaNnOt pay
in anything better, for its assets are either in
government securities or in notes or bonds payable
in government paper.
1t is equally convenient as 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 80
coIlatersls for discounts.
Convertible into Six per Cent, $40
Gold Bond.
In addition to the very liberal interest on the
notes for three years. this privilege of conversion is
now worth about three per cent per annum, for the
current rate for $50 Bonds is not Less than nsss Der
cent. premium; and before the war the premium on
six per cent. o. S. stocks wAs twOnty per cent
1t will be seen that the actual profit on this loan
at the present market rate is not ess hsn ten per
cent. per snuum.
It's Exemption from State or munioi-
| nal Taxation.
But aside from all the advantages we hare emu
merated. special Act Of Congress e-eaPts all bOsds
and Treasury notes from local taxation On the aver
age, this exemption is worth about two per cent.
per annum, according to the rate of taxation in VA
rious parts Of the country.
1t is believed that no securities Oer SO great IN
dzoements to lenders those issued by the govern
ment In all other forms Of indebtedness the faith
ability of private parties stock companies, or
separate communities, only, is pledged for pay
ment, while the whole property of the country is
held to secure tho discharge of all the obligations
o. the United States
While the government offers the most liberal
terms for its loAna It believes she very strong
es, appeal ~i bo to the loyalty and patriotism Of
the people
Up to the Gath ofseptsnber, the subscriptions to
this loan amounted to over