The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1864-05-18
u. 8. 1910 Bonds

These Bonds are issued under the Act of
Congress Of March 9Th, 1854. which provides
that all Bonds issued under this Act shall be
EXEMPT FROM TAXATION by or under any
sta.a or municipal authority. Subscriptions
to these Bonds are received in United States
notes or notes of National Banks. They are
TO BIZ REDEEMED IN COIN, at the pleasure
THAN TEN NOR MORE THAN FORTY YEARS from
their date, and until their redemption FIVE
PER CENT. INTEREST WILL BIZ PAID In
COIN, on bonds of not over one hundred dol
lars annually and IN 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. Register
ed Bonds are recorded on the books of the
U. s. Treasurer. 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 1st, by paying the accrued interest in
coin-(or in United States notes, or the notes
Of National Banks, adding ffty per cent for
premium.) or receive them drawing interest
from the date Of subscription and deposit.
As 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
lsvies in varieus parts of the country.
At the present rate Of premium ON gold they
OVER EIGHT PER CENT INTER
I #FE EST. 1eees
= II
permanent or temporary Investment.
It is believed that no securities offer SO
great inducements to lenders as the various
descriptions Of U. 8. Bonds. In all other
forms Of indebtedness, the faith or ability of
private parties or stock companies or separate
communities only is pledged fol payment,
while for the debts of the United States the
whole property Of the country is holden to
secure 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 converted into money at any mo-
msnt, and the holder will have the benefit Of
the inte est.
IL may be useful to state in this connection
that the total Funded Debt Of the United
States ON which interest is payable in gold,
on the Sd day Of March, 1864. was $76S, $685.
0OO. The interest on this debt for the conn.,
| ing fiscal year will be $46 ,937 ,l26, while the
customs revenue in gold fer the current fiscal
year, ending June 30th, 1864, has been So far
/ ct the rate Of over. $l0o, ,0Oo, eco per annum.
| Il will be seen that even the present gold
revenues Of the Government largely in excoss
| Of the wants Of the Treasury or the payment
Of gold interest, while the recent incTea-e Of
the tariff will doubtless raise the annual re-
csipts from customs on the same amount of
timportations, to $50, ,coo. 900 per annum,
| Instructions to the National Banks acting
as loan SCENTS were not issued from the Uni
ted states Treasury 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.
Il Third National Bank of Cincinnati, o.
4 Fourth National Bank of Cincinnati, O
4 First National Bank Of Cleveland, o.
# Second National Bank of Cleveland, o
And by ALI National Banks
, which are aepositariss Of Public money, ant
all sges
RESPECTABLE BANKS AND
BANKERS
throughout the country, (acting as agents
/. he National Depositary Banks,) will furnisl
/, further information on application and
! AFFORD EVERY FACILITY TO SUBSCRIBERS.
| May IL, 1e64.-s3m,