The Grand Haven news. [volume] (Grand Haven, Mich.) 1858-18??, 1864-06-22
u. S. 1910 Bonds.


These Bonds ure issued under the Act Of Con
gress of March sth, -lsG4, whicb proyides,ths
all Bonds issued usder' This Act shall be Elk
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 are ToBE
REDEEMED IN cotN, at The pleasure 81 tbs
Government, atany period aoi isss hastsn nor
more than forty gears from their DATE, and until
their redemption FIVE PER CENT. INTER.
EST WILL BE PAID IN COIN, on Bonds Of
not over ono hundrrd dollars annually and on
all other Bonds ssmi-anpually, The interest i,
payable on tho FIRST days Of March and septen
Der in each year
Subscribers will receive either Registered OF
Coupon BVids, as they may prefer. Registered
Bonds are recorded on the books Of the U. s.
Treasures and can be transferred only on the
owners order. Coupon Bonds are payable to
bearer, aud arc moro convenient for commercial
Uses
Subscribers to this loan win have the option
Of having their Bonds draw interest from March
lst, by paying tho accrued interest in coin--for
in United States notes, Or the notes of National
Banks, adding fifty per cent. for promium,)-
receive them drawing interest from the date
Of subscription and deposit. As these Bonds
are
Exempt from Municipal or State Tax
alton,
their value is increased from one to three per
cent per annum, aceoring to the rate of tax lev
les in various parts of the country.
At the present rate of premium GU gold they
pay
Over Eight Per Cent. Interest
in currency, and are Of equal convenience rs
permanent or temporary investment.
tis believed that no securities offer so great
inducements TO lenders as the various descrip-
tons Of U. S. Bonds, In all other forms OF in
debtedness, the faith ability of private parties
or stock companies or separate communities on
y is pledged for payment, while for the debts of
the United States the whole property of the
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 sans
terms, and are thus made equally available to
the smallest lender aud the largest capitalist
They can be converted into money at any mo
ment, and tho holder will have the benefit of
the interest
1t may be useful to state in this connection
chat the total Funded Debt of the United States
on which interest is payable in gold on tho Sd
day of March, 1864, was s7Os,o65,OCO. Tho in
terest on this debt for the coming fiscal. year
will be s45,o3il26, while the customs revenue
in gold for the current fiscal year, ending June
Both, 1864, has been so far at the rate of over
500, 100000 per annum.
1t will be seen that even the present gold rev.
enucs 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 Imports
lions, to $3.50, OOOO 600. per annum.
} Instructions to tho National Banks acting as
loan agchts were not issued from the United
States Treasury until March &c. but in the first
= three weeks of April the subscriptions averaged
moro than TEN MILLIONS A WEEK.
First National Bank of Ann Afbor, Mich.
Second National Bank of Detroit, Mich.
First National Bank OF Fenton, Mich.
AND BY ALL NATIONAL BANKS
Which are depositaries of Public money, and all
RESPECTABLE BANKS AND BANKERS