The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1864-01-27
E. X. SPENCER.
Jan. TO- 1864.
u. s, 5-9O's.

The Secretary of the Treasury has not yet
given notice Of any intention to withdraw this
popular Loan from sale at Par and until ten
days notice is given, the undersigned as Gen
eral Subscription Agent" will continue to
supply the public.
The whole amount of the Loan authorized
is Five Hundred Millions of Dollars Nearly
Four Hundred Millions have been already sub
scribed for and paid into the Treasury, mostly
within the last seven months. The large de-
mand abroad and the rapidly increasing home
demand for use as the basis for circulation by
National Banking Associations now organi-
zing in all parts ef the country, will in very
short period absorb the balance. Sales have
lately ranged from ten to fifteen millions
weekly, frequently exceeding three millions
daily, and as it is well known that the Secre-
tsry has ample and unfailing resources il the
Duties on Imports and Internal Revenues
and in the issue of the interest bearing Legal
Tender notes, 1t is almost certainty that he
will not fiud it necessary, for long time to
come, to seek market for any other long or
permanent loans, The Interest and Principal
of which are payable in GOLD.
Prudence and self interest must force the
minds of those contemplating the formation
of Natioual Banking Associations, as well as
the minds Of all who have idle money on their
hands, to the prompt conclusion that they
should lose no time in subscribing for this
most popular loan 1t will soon be beyond
their reach, and advance to handsome pre-.
MUM, as was the result with the " seven
thirty" loan, wheE it was all sold and could
no longer be subscribed for at par.
1t is Six per cent Loan, the Interest and
Principal payable in coin, thus yielding over
Nine per cent per annum at the present rate
of premium on coin.
The Government requires all duties on I'm
ports to be paid in coin those duties have
for a long time past amounted to over a Quar-
ter of Millionof Dollars Daily, a sum- nearly
three times gres ter than that required in the
payment of the interest on all the 5-20's and
other permanent loans. So that it is hoped
that the surplus coin in the Treasury, at no
distant day, will enable the United States to
resume specie payments upon all liabilities.
The Loan is called 500 from the fact that
whilst the Bonds may run for 20 years yet the
Government has right to pay them off in
Gold at par, at any time after years.
The interest is paid half yearly, viz: On
the first days of November and May
Subscribers can have Coupon Bonds,
which are payable to bearer, and are $50
500 $500 and $1,000; or Registered Bonds
of same denominations, and in addition, S.
600 and $4,000. For Banking purposes and
for investments of Trust-monies the Register
ed Bonds are preferable.
These 5-20's cannot be taxed by States,
cities, towns or counties, and the Govern
ment tax on them is only ona-and per
cent, on the amount Of income, wher the
holder exceeds Six Hundred dollars per an
mum, all other investments, such as income
from Mortgages, Railroad Stock and Bonds,
etc., must pay from three 70 five per cent tax
on the Iucome.
Banks and Bankers throughout the country
will continue to dispose of the Bonds and
all orders by mail or otherwise, promptly at
tended to.
The inconvenience of few days delay in
the delivery of the Bonds is unavoidable, the
demand being SO great; but as interest COM
mences from the day of subscription, no loss
is occaSioned, and every effort is being made
to diminish the delay. JAY COOKE,
SUBSCRIPTION AGENT,
ia l4sOUTHTEIRDS ST, PHILADELPHIA.
Dec. A. '63.