Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1864-01-14
u s.. 5.2O,s.

TIVE SECRETARY OF THE TREA-
= sUaY has not yet given notice Of any in
tentien TO withdraw this popular Loan from
Sale at Par, end until ten days notice is given,
the undersigned rs "Gersral Subscriptions
Agent" !" viii continue to supply the public.
The whole amount of the Loan authorized,
is Five Hundred Millions Of Dollars. Nearly
Three Hundred Millions have been already
subscribed for and paid into the Treasury,
mostly within the last six months. The
balance, 1.-Two Hundred MiIlions,) is hardly
sufficient to furnish the basis for circulating
notes for the National Banking Association,
now rapidly organizing in all parts of the
country.
Sales during May, June and July, reached
frequently Two Millions, Daily. It is con-
hdently expected that the sales will again in
crease, especially as q large foreign demand
mostly from Germany,) has lately sprung up,
which is likely to oabsorb One or Two Millions,
weekly. A very short period only must
elapse before this Loan is wholly absorbed
| and as it is well known that the Secretary oi
Sthe Treasury has ample and unfailing re-
sources in the Duties on Imports and Internal
| Revenues, and in the issue Of the Interest
almost a certainty that he will not find il
necessary, for a long time to come, to seek q
market for any other long or permanent Loans,
the Interest and Principal Of which are pay
able in GOLD.
Prudence and self-interest must force the
minds of those contemplating the formation
of National Banking Associations, as well as
the minds Of all who have idle money on their
hands, to the prompt conclusion, that they
should lose no time in subscribing for this
most popular Loan. 1t will soon be beyond
their reach, and advance to q handsome pre-
MUM, as was the result with the Seven
| Thirty" Loan when it was all sold and could
no longer be subscribed for at par.
] 1t is Six per cent Loan, the Interest and
/ Principal payable in Coin, thus yielding
about Eight per cent per annum at the
present rate Of premium on coin.
| The Government requires all duties on i'm
ports to be p,id in Coin; these duties have
\ for long time past amounted to over a
Quarter of a Million Of Dollars, daily, sum
nearly three times greater than that required
! in the payment Of the interest on all the
5-20's and other permanent Loans. So that
il is hoped that the surplus Of Coin in the
Treasury, at no distant day, will enable the
United States to resume specie payments upon
all liabilities. I
The Loan is called $40 from the fact that
whilst the Bonds may run for 20 years, vet
the Government has the right TO pay them of
IN Gold, at par, at any time after years.
The Interest is paid half-yesrly, viz: On
the first days Of November and May.
Subscribers can have Coupon Bonds which
are payable 10 bearer, and are Of $50, 800,
$500, and $1,000: or Registered Bonds Of
same denominations. and in addition, IS 900,
and $4,000. For Banking purposes and for
investments Of Trust monies, the Registered
Bonds ape preferable.
These 520's cannot be taxed by States,
cities, towns, or counties, and the Govern
ment tax on them is only one-and-a-half per
cent. on the amount Of income, when the in
come Of the holder exceeds SiI Hundred dol
lars per annum; all other investments, such
a. income from Mortgages. Rail Road Stock
| and Bonds, etc, must pay from three to five
pc, cent. tax, on the income.
Banks and Bankers throughout the country
! will continue to dispose Of the Bonds; and all
orders by mail, or otherwise promptly at
tended TO.
The Treasury Department having perfected
arrangements for the prompt delivery Of
Bonds, Subscribers will be enabled to receive
them at the time Of Subscription, or at furtheet
in FOUR days. This arrangement will be
gratifying TO parties who want the Bonds or
payment OF the money, and it is hoped, win
greatly increase the sales.
SUBSCRIPTION Agent,
FIRST NATIONAL BANK, GALLIPOLIS.
Dec. 10, 1863.