Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-10-05
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. 18th, 1864,
with semi annual interest at the rate of seven and
rhree-tenths por cont. per AMMAN principal aud
interest both to be paid in lawful money. ---
These notes viii be convertible at the option OF
the holder at maturity, into six per cent gOld-besr
ing bonds payable not less than Eve nor more than
twenty years from their date, as the Government
may elect They will be issued in denominations of
$50, $780, $500 81 900 aud IS, ,Ooo and all suhserip
tons must be for fifty dollars or some multiple Of
nfty dollars.
The notes will he transmitted to the owners fres
OF transportation charges as soon after the receipt
Of the original Certificates Of Deposit as they can
be prepared.
as the notes draw interest ffOm August 10, per.
sons making deposits subsequent to that date must
pay the interest accrued from date of note 70 date
of deposit.
Parties depOsiting twenty-five thousand doIIArs
and upwards for these notes at any tms will be
allowed commission of one-quarter of one per
cent.
Special Advantages Ofthis Loan
ITIsA NATIONAL SAVINGS BANK, offering higher
rate of interest than any other, and ss best security.
ANY savings bank which pays its depOsitOrs in 0.
s. Notes. considers that It ia paying in the hest cir
cuIstiug medium Of the country, and it oanaOt pay
in anything BETTER for its assets either in
government securities In notes or bonds payable
in government paper. --r .lT-.l- s.- ...
Il is equally convenient Is 3 temporary or per-
mansnt investment The notes can always be sold
for within fraction of their face and accumulated
interest, and are the best security with banks 81
ooilstersis for discounts. ... II. ua-s
Convertible into Six per Cent, 5-2O
GOId 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 the
current rate for 20 Bonds is not less than nine p
esut. pren.iuu.; aud before the war the premium OF
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 PEI
cent. per Annum.
HIS Exemption from State or MunIcI,
pal Taxation.
But aside from all the advantages we have emu
merated. a special Act of Congress ezonpts all bond
snd Treasury notes from local tasatiOa. On the aver
age, this exemption is worth about two per cent
per annum according to the rate of taxation in va
rious parts OF the country. Re-
1t is believed that no securities offer 50 great in
duoements to lenders as thoss issued by the govern
msnt. In Iother forms of Indebtedness the faitl
or ability Of private parties, or stock companies
separate communities, only is pledged for pay
ment, while the whole property of the country Il
held to secure the discharge of all the obligations
ol the United States -rt
While the government offers the most liberA
terms for ts loans 1t believes that the very strong
est appeal will be to the loyalty and patriotism OF
the people.
Up to the 24th Oiseptember, the subscriptions tt
this loan amounted to over