The Grand Haven news., 1864-10-12
U. 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
18th, 1864, withsemi- annual interest ut the rnte
of seven and three-t -tenths per cent. per annum--
principal and interess 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
Government may elect They will be issued in
examinations of $50, $500, $500, 81, 900 and
$4,000, and all subscriptions must be for fifty
dollars or some multiple of fifty dollars.
The notes will be transmitted to tle 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
presons making deposits subsequent TO that date
must pay the interest accrued from date Of note
to date of deposit.
Parties depositing twenty-five thousand dol
lars and upwards for these notes at any one time
will be allowed commission of one quarter of
one per cent, which will be paid by the Treas
ury Department upon the receipt of a bill for the
amount, certified to by the officer with whom
the deposit was made. No deduciions for COM
missions must be made from the deposits.
Special Advantages of this
Loan.
1T Is A NATIONAL SAVINGS BANK, offering
higher rate of interest than any other, and the
best security. Any saving banks which pays its
depositors in U. S. Notes, considers that IL is
the best circulating medium of the country, aud
it can not pay in anything better, for It's own as
sets are either in government securities or In
notes or bonds payable in government paper.
1t is equally convenient as temporary or
permanent investment. The notes can always
be sold for within fraction of their face and
accumulated interest, and arc The best security
with banks as collaterals for discounts.
Convertible into Six per cent. $50
Gold Bond.
In addition to the very liboraI interest on the
notes for three years, this privilege of CONVEX
sion is now worth about three per cent per an
mum, for the current rate for $50 Bonds is not
less than nine per cent. premium, and before the
war the premium on 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.
It's Exemption from State or Munici-
pal Taxation
enumerated, special Act of Congress erempts
all bonds and Treasury notes from local taeation.
On the average this exemption is worth about
two per cent per annum, according to the rate
of taxation in various parts of the country.
tits believed that no securities offer so great
inducements to lenders rs those issued by the
government, In all other forms Of indebted
ness, the faith or ability of private parties, or
stock companies, or separate communities, only,
is pledged for payment, while the whole proper
ty of the country is held to secure the discharge
of all the obligations of the United States.
While the government offers the most liberal
terms for its loans, IL believes that the very
strongest appeal will be to the loyalty and pa
triotism of the people.
Duplicate certificates will be issued for all de-
posits. The party deposting must endorse up
on the original certificate the denomination oJ
notes required, and whether they are to be is
sued in blank or payable to order. When SO en-
dorsed It must be left with the officer receiving
the deposit, to be forwarded to the Treasury
Department.
SUBSCRIPTIONS WILL BE RECEIVED by the
Treasurer of the United States, at Washington,
the several Assistant Trsasurers and designated
Depositaries, and by the
FIRST NATIONAL BANKS OF
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