Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1865-03-09
Questions and Answers
relative to the Ut. S. 7-3O Loan.

Mr.. Jay Cooke, of Philadelphia, who
for so long time had the management
of the popular 500 million 500 Loan,
has just been appointed by Secretary
Fessenden, the GENERAL AGENT to dis
pose Of THE ONLY POPULAR LOAN now
offered for sale by the Government, viz:
the SEVEN THIRTY.
In entering upon his duties he de-
sires to answer plainly the large number
of questions daily and hourly propounded
to him, so that his fellow-countrymen
may all understand what this ''Seven
Thirty Loan is-what are it's peculiar
merits, s,-how they can subscribe for or
obtain the notes, &c.
lst Question. Why is this Loan call
ed the "Seven-T Thirty" Loan?
Answer. 1t bears Interest, in cur
rency, at the rate Of Seven Dollars and
thirty cents, each year, on every hun
dred dollars: making the interest as
follows:
One cent per day on each S so note,
Two cents 100 +"
Ten " 500 +"
Twenty :" 1000"
One Dollar " /" 5000
I'd Question. When and how can
they be obtained?
Ansaoer. They are for s"'o, at par,
and accrued interest, by all Sub-Treas-
uries, National and other Banks, and all
Bankers and Brokers.
Sd Question. When is the interest
payable and how can it be collected ?
Ansoer. The Coupons or Interest
Tickets are due 18th of February and
18th Of August in each year, and can be
cut off from the note, and will be cashed
by any Sub-Treasurer, U. S. Depository,
National or other Bank or Banker.
4th Question. When must the Gov
ernment pay off these 7,30s ??
Anseoer. They are due in two years
and half from the 18th of February.
1865 viz on the 18th of August, 1867.
5th Question. Must I receive back
my money SO soon as 1867?
Anssver No not unless you your
self prefer to do so-the Law gives you
the right to demand from the Govern
ment, at that time, either your money
or an equal amount at par, of the ia
nous and popular $40 Gold Bearing
6 per cent. Loan.
9th Question: How much do you
consider this privilege of conversion, into
$50 Loan to be worth?
Ansaoer 5.2Os bearing Gold Interest
from lst of November, are to- day worth
per cent, premium. If they are worth
no more at the end of the two years and
a half, when you have right to them,
than they 'soa0 are, this premium, added
to the interest you receive, will give you
at least 10 per cent. per annum for your
money-but the opinion is that they
will be worth more than 8 per cent. pre-
MUM at that time.
7th Question. What other advantage
is there in investing in the 7.30 Loan?
Ansuer. It cannot be taxed by
States, Counties, or Cities, and this adds
from one to three per cent. per annum
to the net income of the holder, accord
| ing to the rate of taxation in various To-
calities All bonds and stocks, except
those of rhe United States, and all mort
cages, &C., are taxed, not only by the
Government, but by States, Counties
and Cities.
Sth Question. How does the Govern
ment raise the money to pay the interest
| op1 - ca fo i c,,,o2
AnsUer. The Government collects,
by taxes, internal revenue, and duties
on imports, fully three hundred millions
each year. This is nearly three times
as much as is needed to pay the interest
on all the debt, and as soon as the war
is ended. the amount not needed to pay
the interest will be used in paying
off the debt. Or Government has
t,cice paid off all ats debt, and can easily
do SO again. The interest is sure to be
paid promptly, and the debt itself is the
very safest investment in the world. 1t
is as safe as mortgage on good farm,
and pays better interest. It is, in
fact, First Mortgage on all lands, all
AHCOuCc, oil olii Ocio duu Cdlld1
and bank or other stocks, mortgages &c
Nothing can be safer. for we are all
bound for it, and all that we have is
firmly held for the payment of principal
and interest. How foolish those people
are. who keep their gold and greenbacks
idle and locked up, or purchase mort
cages or railroad stocks and bonds,
which pay only 5 or per cent. interest,
when these Seven-Thirties pay Count
ing the premium on Five Twenties, }
over ten per cent, and are so much safer
and surer.
9th Question How many Seven
Thirties are there and how much remain
unsold?
Ansloer. There are only about three
hundred and twenty-five millions author
lied by law, and only about one hun
dred and ninety millions remain unsold.
10th Question. How long will it take
! you to sell the balance?