Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-08-08

medium next to specie In value. By the
issue Of this loan the o. s. Treasury be-
comes Savings bank for the people
There are none stronger-none more
solvent, and not one that pays SO lib
eraily for the use of money. You may de-
Posit fifty dollars or fifty thousand. The
more you put in, tbemore you strengthen
the Government, and the more valuable
Will be the remaining currency of the coun-
try f
ITS LIBERAL INTEREST.
The general rate ofinterestis six per cent,
payable annually. This is seven and
three!tenths, payable semi-a71auaHg. Il
you lend on mortgage, there must be a
searching of titles, lawyers fees, stamp
duties and delays, and you will finally
have returned TO you only the same kind
of money yeu would receive from the GOV
ernment, and loss Of it. If you invest in
this loan you have no trouble. If there is
no national bank at hand, any banker will
obtain it for you without change, and pay
you the interest coupon at the end of six
months, as most convenient form of re-
mittanee to his city correspondent. If you
wish TO borrow ninety cents on the dollar
upon it, you have the highest security in
the market to do it with. II you wish to
sell, II will bring within fraction of cost
and interest at any moment. ID viii be
very handy 10 have in the house.
ITS CONVENIENTLY INFOA SIX PER CENT. BoyD
Here comes an advantage that
must not be lost sight of. At the expira-
ton ofthree years a holder OF the notes Of
the 7-30 loan has the option of ACCEPTING
payment in full or of funding his notes in
q six per cent. gold interest bond, the prin-
cipal payable in not less than five nor more
than twenty years from its date, as the
Governments may elect. For six months
past, these bonds have ranged at an ave-
Ia5c IIotiiiiIn Of ABOUT eight per cent. in,
the New York market, and have sold at 100
to-day July 2S). Before the war, U. S. six
per cent. stocks sold at a much higher rate
and were once bought up by the u. S.
Treasury under special act OF Congress at a
premium Of not less than twenty per cent.
There is no doubt that this option Of con
version Is at least worth two or three Der
cent per annum to the subscriber to The
loan, thus Increasing the actual rate of in
terest to about ten per cent. Notes of the
same class issued three years ago, are now
selling at premium that fully proves the
correctness of this statement
The Secretary of the Treasury has been
told that he must "blty DiOHcvat the highest
rate necessary to command it," that he
should sell his obligations "ior what they
would bring" so rs to lead the market:
but the Secretary will do no such thing
If ShylOck bought bonds at 90 in August,
he would demand a concession of another
ten per cent. in September, and twenty in
October, until he would finally offer to lend
only the interest and keep the principal
If Government securities are worth any-
thing, they are richly worth all their face
ca Is for in gold, and the country is not so
poor in spirit or i'll purse as to submit toany
such sacrifice as Shylock demands. There
is but limited supply of money seeking
investment at any time, and the Govern
nIent oilers 10 pay literally for its use At
the rate OF seven aud three -tenths per
cent. per annum, to say nothing eff the col
lateral advantages, it is the strongest bor-
rover IN the market, and every feeling Of
interest, as well as patriotism and duty,
should induce our readers to invest in its
lOans.-N. 7. Examiner.