Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1865-03-22
Interesting Questions and Answers relative
to the 7.3O u. S, Loan.

Mr.. JAY COOKE, of Philadelphia, who
for so long time had the management Of
the popular 800 million so Loan, has just
been appointed by SECRETARY FEssENDEN,
the GENERAL AGENT to dispose Of The ON
LY POPULAR LOAN now offered for sale by
Government, VIZ: the ''SEE En- THIR-
TY."
In entering upon his duties he desires to
answer plainly the large number of ques-
tions daily and hourly propounded to him,
so that his fellow couutrymen may all un-
derstand what this Seven Thirty Loan is
what are its peculiar merits,-how they
can subscribe for or obtain the notes, &c.
lst question:. Why is this Loan called the
'Seven-TLirty' Loan?
1nS,Cer. 1t bears Interest. in currency,
at the rate of Seven Dollars and thirty cents,
each year on every hundred dollars, max
ing the interest as follows:
One cent per day on each s 80 note
Two cents per day on each 100 note.
Ten cents per day on each 500 note
Twenty cents per day leach 1000 note.
One dollar per day on each 5000 note
2d Question. When and how can they be
obtained?
Ansuer. They are for sale, at par, and
accrued interest, by all Sub-Treasuries, Ma
tional and other Banks, ard all Bankers and
Brokers.
Sd Question. When is the interest pay
able and how can it be collected?
A,,s,Cer. The Coupons or Interest Tick
cts 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, Z. S. Depository, National
or other Bank or Banker.
4h Question. When must the Govern
ment nav off these !. .30s?
Ans,oer. They are due in two years and
ahalf from the 18th Of February, 1865; viz:
on the 18th of August, 1867.
5h Question: Must [ receive back my
money SO soon as 1867?
AasUer No not unless you yourself pre-
fer to do so-the Law gives you the right to
demand from the Government, at that time,
either your money or an equal amount at
par, of the famous and popular $50 Gotd
Bearing per cent Loan.
9Th Question. How much do you consid
er this privilege of conversion, into $50
Loan to be worth?
AasaCer. 5.20s bearing Gold Interest from
1st of November. are to-day worth 9 per
cent. premium. If they are worth no1nore
at the end of the two years and a half, when
you have right to them, than they n0eo are,
this premium added to the interest you re-
ceive, will give you at least 10 per cent. per
anuum for your money-but the opinion is
that they will be worth more tqan per cent.
premium at that time.
7h Question. What other advantage is
there in investing in the 7.30 Loan?
Answer 1t cannot be taxed by States,
Counties, or Cities, and this adds from one
to three per cent. per annum to the net IN
come of the holder, according to the rate OF
taxation In various localities. All bonds and
thoca Of tho pItpd Sfatpc
and all mortgages, &C., are taxed, not only
by the Government, but by States, Counties
and Cities.
Sh Question: How does the Government
raise the money to pay the interest, and is it
safe and sure?
.Aas,oer The Government collects, by
taxes, in internal revenue, and duties on i'm
ports, fully three hundred millions each
year This is nearly three times as much as
is needed to pay the interest opall the debt,
and soon as the war is ended, the amount
not needed to pay the interest will be used,
In paying off the debt. Orr Government
has hctce paid off ALI its 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 a mortgage on a good farm, and pays
a better interest. 1t is, in fac., FIRST
Mortgage on all land all incomes, all rail
road and canal bonds, 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 mortgages or railroad stocks and
bonds, which pay only or 6 per cent inter-
est, 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 remains unsold?
Ansscer There are only about three