The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1864-09-16
U. S. 7-3O LOAN.

u. S. 7-3O LOAN.
The Secretary Of the Treasury gives notice that
subscriptions will be received for Coupon Treasury
Notes, payable three years from August 18th, 1864
with semiannual interest at the rate of seven and
three-tenths per cent per annum,-principal and
interest both to be paid in lawful money.
These notes will be convertible at the option Of
the holder at maturity, into six per cent gold
bearing bonds, payable not less than five nor more
than twenty years from their date, as the Govern
ment may elect. They will be issued in denomi.
nations Of $50, 500, $500, $1,000 and S. 600 and
all subscriptions must be for fifty dollars or some
multiple Of fifty dollars.
The notes will be 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 la per-
sons making deposits subsequent to that date must
pay the interest accrued from date of note to date
Of deposit.
Parties depoSittng twenty i've thousand dollars
and upwards for these notes at any one time will
be allowed a commission of onequarter of one per
cent, which will be paid by the Treasury Depart
ment upon the receipt of a bill for the amount,
certified to by the officer with whom the deposit
was made No deductions for commissions must
be made from the deposits
Special Advantages of this Loan.
IT nA NATIONAL SAVINGS BANK, Offering higher
rate Of interest than any other and the beet see.-
mtg. Any savings bank which pays its depositors
in u s. Notes, considers that it Is paying In the
best circulating medium in the country, and it
cannot pay in anything better, for its own assets
are either in government securities or in notes or
bonds payable in government paper.
1t is equally convenient as a temporary or per-
manent investment The notes can always be sold
for within fraction Of their face and accumulated
interest and are the best security with banks as
eollaterals for discounts
Convertible into a Six Per Cent.
$40 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 annum,
for the current rate for 500 Bonds is not less than
Minis per cent. premium, and before the war
the premium six per cent. U. S. stocks was over
twenty per cent. 1t will be seen 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 Mu-
nfCipal Taxation.
But aside from all the advantages we have emu
merated, special Act Of Congress erenspts all
bonds and Treasury notes from local taxation. On
the average this exemption is worth about two
per cent per annum, according to the rate of tax
alton In various parts Of the country
1t Is believed that no securities offer 20 great
Inducements to lenders as those issued BY the gov
CAAAAACDos III III Ornlb OF Indebtedness, The
faith or ability OF private parties, or stock eompa-
nies, only, is pledged for payment while the whole
property of the country is held to eecure the dis
charge of all the obligations Of the United States
While the government offers the most liberal
terms for its loans 1t believes that the very strong
est appeal will be to the loyalty and patriotism OF
the people
SUBSCRIPTIONS WILL he RRosIvBD by the Treasurer
OF the United States at Washington, the seseral
Assistant Treasures and designated Depoeitaries,
and by the
First National Bank of st. Paul.
And by all National Banks which are deposItaries
Of public money, and
ALL RESPECTABLE BANKS AND BANKERS
Throughout the country will give further informa-
ton, and afford
. EVERY FACILITY TO SUBSCRIBERS
August % 1864 aug36-d&w2m