The Grand Haven news. [volume] (Grand Haven, Mich.) 1858-18??, 1864-06-01
us. 1910 Bonds.

- A. 49,
These Bonds are issued under the Act Of Con-
gress of March sth, 1864, which provides TIA
all Bonds issued under this Act shall DO Elk
EMPT FROM TAXATION by or under any
state or municipal authority. subscriptiOpsiio
these Bonds are received in United States notes
or notes of National Banks. They are TO BE
REDEEMED IN COIN, at the pleasure Of Che
Government at any period not less than ten nor
more than forty years from their date. and until
their redemption FIVE PER CENT. INTER
EST 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 Septem-
Der 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.
Treasurer, and can be transferred only on the
owners order. Coupon Bonds are payable 10
bearer, and are more convenient for commercial
uses.
Subscribers to this loan viii have the option
of having their Bonds draw interest from March
lst by paying the accrued interest in coin--tor
in United States notes, or tho notes of National
Banks, adding fifty 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 Tax
alton,
their value is increased from one 10 three per
cent per annum, accorng to the rate of tax lev
les 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
permanent or temporary Investment
It is believed that no securities offer SO great
inducements to lenders the various descrip
tons Of U. s. Bonds In all other forms OF in
debtedness the faith or ability Of private parties
or stock companies or separate communities on
ly is pledged for 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-
ment, and the holder will have the benefit Of
the interest
1t 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 s76s, 96j,OOO. Them
tcrest on this debt for the coming fiscal year
will be S45, 937, 1876, while the customs revenue
in gold for the current fiscal year, ending June
SOth, 1854, has been so far at the rate of over
500, 900 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 tho annual receipts
from customs on the same amount of importa-
tons, to Sl5O,OOO,O OO per nnnum.
Instructions to the National Banks acting as
loan agents were not issued from the United
States Treasury until March 20, but in the first
three weeks of April the subscriptions averaged
more than TEN MILLIONS A WEEK.
First National Bank Of Ann Arbor, Mich
Second National Banl, OF Detroit, Mich.
First National Bank Of Fcntou, Mich.
AND BY ALL NATIONAL BANKS
Which are depositaries Of Public money, and all
RESPECTABLE BANKS AND BANKERS
throughout the country (acting as agents oftho
National Depository Banks), will furnish fur
Their information on application and
AFFORD EVERY FACILITY TO SUB
scRIBERs. [2G4 ms.
y- FAIR BAN KS
III STANDARD