Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1864-05-02
]. s. tl.A ylIDi


gress Of March sth, 1854, which provides that in
lieu of SO much Of the loan authorized by the
act Of March Sd, 1863, to which this is supple
nentary, the Secretary Of the Treasury is author
zed to borrow. from time to time, on the credit
,f the United States, not exceeding TWO HUN
DRED MILLION DOLLARS during The current
fiscal year, and TO prepare and issue therefor
Coupon and Registered Bonds of the United
Btates; and all Bonds issued under this Act shall
be EXEMPT 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 TO BE
IN COIN, At the pleasure of the
at any period not less than ten nor
more than forty years from their date, and u il
their redemption Five per Cent. inter.
est will be paiil In Coin. on Bonds Of
not over one hundred dollars annually, and on
all other Bonds semi i-annually.
The interest is payable on the first days of
March and September in each year. The semi
annual coupons are payable at those dates, and
the annual coupons on the so and 100 Dollar
Bonds are payable on the first Of March.
Subscribers will receive either registered or
coupon Bonds, as they may prefer. Registered
Bonds are recorded on the books Of the United
States Treasurer, and can be transferred only on
the owners order; coupon Bonds are payable to
bearer, and are more convenient for commercial
Registered Bonds will be issued Of the denom-
nations of Fifty Dollars, $780, One Hundred
Dollars, (s1oo,) Five Hundred Dollars, $780,
One Thousand Dollars, 81, ,ooo,) Five Thousand)
Dollars, $4,000 and Ten Thousand Dollars !;
(s1o oooy and coupon Bonds Of the denonins
tions Of Fifty Dollars, $780, One Hundred Dol
ars, (s1co,) Five Hundred Dollars, (s5oo,) and
One Thousand Dollars, (s1, ,oOO.)
Subscribers to this loan will have the option Of
having their Bonds draw interest from March 1st,
by paving the accrued interest in coin--(or 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 deposit
AS these Bonds are exempt from municipal or
State taxation their value is increased from one
to three per cent. per annum, according to the
rate Of tax levies in the various parts Of the
country.
AT the present rate of premium on gold they
pay over eight per cent interest in currency, and
Are of equal convenience as permanent or tenn
porary investment.
1t is believed that no securities offer so great
Inducements to lenders as the various descrip-
tions Of United States Bonds. In all other forms
,f indebtedness, the faith or ability Of private
parties or stock companies, or separate commu-
mites only, is pledged for payment, while for the
debts of the United States the whole property Of
he country is holden to secure the payment Of
both principal and Interest In coin.
These Bonds may be subscribed for IN sums Of
rom $50 up to any magnitude, on the same
erms, and are thus made equally available to the
smallest lender and the largest capitalist They
IAN be converted into money at any moment, and
he holder will have the benefit Of the interest.
The fact tkat IN duties ON imports are payable
m specie. furnishes fhnd forslike payment q in
'erest, on all Government Bonds largely inexcess
of the wants Of the Treasury for this purpose.
Upon the receipt Of subscriptions = certificate
of deposit therefor, in duplicate, will be issued,
he original Of which will be forwarded by the
subscriber to the Secretary Of the Treasury. at
Washington, with letter stating the kind (regis-
ered or coupon) and the denominations Of bonds
required
Upon the receipt Of the original cestiAcases At
he Treasury Department, the bonds subscribed
or will be transmitted to the subscribers Esapec-
iv.k, ebaS sgelsaa1rs
Subscriptions will be r,seivsa &c.
y sss United States, at wssbsGi ~ b ~ y; = y
istans 7sssssrvs, st yew nor1 fBss J.
and BY the
First National Bank Of Davenport. Iowa 1ss
y" ~" ofKeokuk, n
80 ~. L0u11, no.
sercca "esT4
Third ss =" e." x-snd
First NstiSasl Bank Of Mt Pleasant Iowa.
md By I'll National Banks which are sdepoeitafies
# public money. All respectable banks and
,ankers throughoat the country win furnish fur
her information on application, and afford every
s&cilitv 20 subscribers. ssis s.