Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-10-11
q. S. 7-sO LOAN.

The Secretary of the Treasury gives notice that
subscriptions will be received for Coupon Treasury
Notes, payable three years from Aug 10Th, 1864,
with semi-annus interest at the rate Of seven and
three-tenths per cent. per annum-priDcipaI and
interest both to be paid in lawful money.
These notes VIII be convertible at the option Of
the holder maturity into siK per cent gold-bear-
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
$50, $780, $780, 81 900 and s5 OOO and sII suhsorip
tiOns must be for fifty dollars or some multiple of
fifty dollars.
The notes will he transmitted to the owners free
Of transportation charges as soon after the receipt
of the original Certificates of Deposit as they can
be prepared.
As the notes draw interest from August 10, 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 a commission Of one-quarter of one per
cent.
Special Advantages OF this Loan
IT Is A NATIONAL SAVINGS BANK, offering higher
rate of interest than any other, and the best security
Any savings bank which pays its depositors in o.
Notes, considers that it is paying in the hest cir
eulatiug medium of the country, and it oaanot pay
in anything better for Its own assets either in
government securities or in notes or bonds payable
in government paper.
1t is equally convenient as a temporary or per-
msnent investment. Tho notes can always be sold
for within fraction of their face and accumulated
interest, and are the best security with banks as
oollatsrAls for discounts
Convertible into Six per Cent, 6-2O
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 snnum, for tho
current rate for $40 Bonds Is not less than nine py
cent prenaian; and before the war the premium on
six per cent. o. s. stocks was over twenty per cent
It will be that the actual profit on this loan,
at the present market rate is not less than ten per
cent. per annum.
Its Exemption from State or Munici.
nal Taxation.
But aside from ali the advantages We have emu.
mersted, special Act of Congress exempt, all bond
Gad Treasury notes from local taxation On the aver
age, this exemption is worth about two psE cent
per annum according to the rate of taxation in va
rious parts of the country.
1t is believed that no securities offer 50 great in
dacements lenders as those issued ny the govern
ment In all other forms of Indebtedness, the fatf
or ability of private parties or stock companies,
separate communities, only, is pledged for pay
ment, while the whole property of the country &
held secure the discharge of all the obligation
o. the United States.
While the government offers the most Ebera
terms for Its lOans it believes that the very strong
est appeal will be to the loyalty and patriotism
the people.
Up to the 24th of September, the subscriptions t
this loan amounted to over