Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1864-06-22
I. S. 1910 Bonds.

These Bonds are issued under the Act of Congress
of March sth. 1864. which provides that all Bonds
issued under this Act shall be EXEMPT FROM
TAXATION by or under any state or municipal
authority Subscriptions to these Bonds are re-
ceived in United States notes or notes Of National
Banks. They are TO BE REDEEMED IN COIN,
at the pleasure of the Government. at any period
not lees than ten nor more than forty years from their
date, and until their redemption FIVE PER CENT
INTEREST WILL BE PAID IN COIN, on Bonds
Of not over one hundred dollars annually and on
all other Bonds semi-annually. The interest is
payable on the first days of March and September
in each year.
Subscribers will receive either Registered or
Coupon Bonds, as they may prefer. Registered
Bonds are recorded on the books of the U. S. Treas
urer, and can be transferred only on the owners
order. Coupon Bonds are payable to bearer. and
are more convenient for commercial uses.
Subscribers to this loan will have the option Of
having their Bonds draw interest from March LIST,
by paying the accrued interest in coin-{or in Uni
ted States notes. or the notes of National Banks.
adding fifty per cent. for premium.) or receive them
drawing interest from the date of subscription and
deposit. At these Bonds are
Exempt from Municipal or State Taxation,
their value is increased from one to three per cent.
per annum. according to the rate of tax levies in
various parts of the country.
At the present rate of premium on gold they pay
Over Eight Per Cent Interest
in currency. and are of equal convenience as a per-
manent or temporary investment.
It is believed that no securities offer 80 great in
ducements to lenders as the various descriptions of
US. Bonds. In all other forms Of indebtedness
the faith or ability of private parties or stock COM
panies or separate communities only is pledged for
payment. while for the debt of the United States
the whole property of the country is holden to Sc
cure the payment Of both principal and interest in
coin.
These Bonds may be subscribed for in sums from
$50 up to any magnitude. on the same terms, and
are thus made equally available to the smallest
lender and the largest capitalist. They can be con-
verified into money at any moment, and the holder
will have the benefit of the interest.
1t may be useful to state in this connection tina
the total Funded Debt of the United States on
which interest is payable in gold. on the Sd day of
March. 1854. was S76s.965.OO0. The interest on this
debt for the coming fiscal year will be S45,9S ,126,
while the customs revenue in gold for the current
fiscal year. ending June SOth. 1864. has been so far
at the rate of over S1OO.OO0.OOO per annum.
1t will be seen that even the present gold rev.
enues OF the government are largely IN excess Of
the wants Of the Treasury for the payment of gold
interest. while the recent increase Of the tariff will
doubtless raise the annual receipts from customs On
the same amount of importatiOns. to $50, OO0, COO
per annum.
Instructions to the National Banks acting as loan
agents were not issued from the United State Treas
ury until March 26, but in the first three weeks of
April the subscriptions averaged more than TEN
MILLIONS A WEEK.
Subscriptions will be received by the
First National Bank of Cincinnati. o.
Third National Bank of Cincinnati, o.
Fourth National Bank of Cincinnati. q.
First National Bank of Cleveland. O..
Second National Bank Of Cleveland, o.
AND BY ALL NATIONAL BANKS
which are depOsitaries of Public money. and all
RESPECTABLE BANKS AND BANKERS
throughout the country. (aetins as agents of the
National DepOsitaEy Banks.) will furnish further
information on application and
AFFORD EVERY FACILITY TO SUBSCRIBERS.
May n.-zm