The Grand Haven news. [volume] (Grand Haven, Mich.) 1858-18??, 1864-06-29
IT. S. 1910 Bonds.

gross of March sth, 1864, whiei provides tbs
all Bonds issued under this Act shall be E1
EMPT FROM TAXATION BY or under any
state or municipal authority. Subscriptions to
these Bonds are received in United States notes
or notes Of National Banks They reT0 Re
REDEEMED IN COIN, at the pleasure Of tho
Government at any period not iess than ten nor
more tha" forty gears frBin their date, and until
their redemption FIVE PER CENT. INTER
EST WILL BE PAID IN COIN, GU Bonds of
not over one hundred dollars annually and ON
all other Bonds serni-annually. The interest is
payable on the first days of March and septem-
Der in each year.
Subscribers will receive either Registered or
Coupon Bonds, as they may prefer. Registered
Bonds arc recorded on the books Of the U. S.
Treasurer, aud can be transferred only on tho
owners order. Coupon Bonds arc payable to
bearer and are more convenient for commercial
uses.
Subscribers to this loan will have The option
Of having their Bonds draw interest from March
LIST, by paying the accrued interest in ooin-ior
in United States notes, or the notes of National
Banks, adding fifty per cent for premium, -
or receive them drawing interest from the date
Of subscription and.ioposit. As these Bonds
arc
Exempt from Municipal or State Tax
ation,
their value is increased from one to three per
cent. per annum, accoring to the rnto of tax lev
les in vatious parts of the country.
AT the present rate of premium on gold tboy
pay
Over Eight Per Cent Interest
in currency, and are of equal convenience as
permanent or temporary Investment.
1t is believed that no securities offer so great
inducements to lenders as the various dcscrip-
tions of U. S. Bonds. In all other forms Of in
debtedness, the faith or ability of private parties
or stock companies or soparatc communities on
ly is pledged fbr payment, while for the debts of
the United States the whole property of tho
country is holden to secure the payment Of both
principal and interest in coin.
These Bonds may be subscribed for in sums
from $50 up to any magnitude, on The same
terms, and are thus made equally asaiIable to
the smallest lender and the largest capitalist.
They can be converted into money at any mo
ment, and the holder viii have the benefit Of
the interest.
It may be useful to state in this connection
that the total Funded Debt of the United States
on which interest is payable in gold, ON the Sd
day of March, 1854, was sos, 965,OOO The in
terest on this debt for the coming fiscal year
will be s45,9S7I26, while the customs revenue
in gold for the current fiscal year, ending June
3Oth, 1864, has been so far at the rate of over
SlOO,OOO,OO0 per annum.
1t win be seen that even the present gold rev
enues of the Government are largely in excess
of the wants of the Treasury for The payment of
gold interest, while the recent increase of the
tariff will doubtless raise the annual receipts
from customs on the same amount of importa-
tons, to $l5O,OOO,O0O. per annum.
Instructions to the National Banks acting as
loan agents were not issued from the United
States Treasury Until March 20, but in the first
three weeks Of April the subscriptions averaged
more than TEN MILLIONS A WEEK.
First National Bank of Ann Arbor, Mich.
Second National Bank of Detroit, Mich.
First National Bank Of Fcutop, Mich.
AND BY ALE NATIONAL BANKS
Which are depositaries of Public money, and all
RESPECTABLE BANKS AND BANKERS
throughout the country (acilng as agents of tho
National Depository Banks), win furnish fur
thor information ON application and
AFFORD EVERY FACILITY TO SUB
sCRIBERs. I2ei me.