The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1864-08-12


the very best and strongest investusue
they cpmd .posAbly make lIfatf weee o.
sible to contemplate the financial failufeOf
the Government, no bank would be any
better or safer. Savings banks that allow
their depositors but five per cent. can only
pay interest or principal in .greenbacks or
notes of State banks. Banks Of issue and
discount cannot ask or get anything better
than Government paper in payment of Gus.
TONERS notes, and they prefer it tn all
other, for they are compelled to redeem
their own notes in that paper as the cirou-
latlng medium next to specie in value. By
the issue of this loan,. the United States
Treasury, becomes sauings bank for tie
people. There are none stronger--nons
more solvent, and not one that pays, 40
literally f r the use OF money You may
deposit fifty dollars or fifty thousand. The
more you put in, the more you will aid
and strengthen the Government, and the
more valuable will be the remaining cur
rency OF the country. il ~ .'-'"1.'}D
ITS LIBERAL INrERRsr.-The general
Ia.e " interest Ter is six per cent, payable an
nuany lh's is seven and three-tenths.
payaoie sem'-annuaHy. If you lend on
mortgage, there must be searching Of
titles, lawyers fees, stamp duties and de-
lays, and you will finally have returned IA
you only the same kind of Inonav ,Cr
would receive from the Government and
less of it. 91f you invest in this loan Won
have no trouble Ii there is no National
bank at hand, any banker will obtain Il
for You without charge, and pay you the
interest coupon at the end of six months "a
most convenient form of remittance TO
bis city correspondent. If you wish to
borrow ninety cents on the dollar upon it,
you have the highest security in the mar
ket to do it with. If you wish to sell, It
will bring you within q fraction Of cost and
interest at any moment. 1t will be very
handy to have in the house. 'Ai'i "'h .
It's CoNvBRrlB LrTY INTO SIX PER CxSr.
BOND.-lHere comes an advantage that must
not be lost sight of. At the expiration Of
three years holder of the notes of the 7 so
loan has tho option of accepting payment
in full or of funding his notes'in q six per
cent. gold interest bond, the principal ply
able in not less than five nor more than
twenty years from its date, as the Gov
eminent may elect. For six months past.
these bonds have ranged at an average pxe.
MUM of about eight per cent. in the New
York market, and have sold at 100 TO-DAY
Guy 28). Before the war, q. s. six Der
cent. stocks 80 d at much higher rate
and we're once bought up by the u. g.
Treasury under special act Of Congress
at premium of not less than twenty Der
cent. There is no doubt that this option
OF conversion is worth at least two or three
pc" cent per annum to the subscriber to
the loan, thus increasing the actual rate Of
interest to about ten per cent. Notes Of
the same class issued three years ago, are
now selling at q premium that fully proves
the correctness of this statement.
The Secretary of the Treasury has been
told that he must "buy money at the
highest rate necessary to command it /"
that he should sell bis obligations for what
they would bring, so rs to lead the mar
ket; but the Secretary will do no such
thing. If Shylock bought bonds at 90 in
August, he would demand concession Of
another ten per cent. in September, and
twenty in October, until he would finally
offer to lend only the interest and keen
the principal. II Government securities
are worth anything, they are ric. .ly worth
all their face calls for in gold, and
the Country is not so poor in spirit or In
purse as to submit to any such sacrifice a.
Shylock demands. There il but limited
supply of money seeking investment at
any time, and the Government offers to
pay literally for its use. At the rate of
seven three tenths per cent. per annum, to
say nothing of the collateral advantages, it
is the strongest borrower in the market.
and every feeling of interest, as well IS
patriotism and duty, should induce our
readers to invest it's loans, 1870