The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1865-05-19
1905.

PntLArELpnrA. May IA statement
o. the issa's Of 7.3O bones is now circu
lating through the newspapers whose in .
accuracles we are requested TO correct
Congress in July, 1864, authorized the
Secretary OF the Treasury to borrow
SIOO, 600 900 in such form as he deemed
best. OF this amount 800 600 900
was issued as 10 40s, $40, 600, 900 as 8.
EOS, and the balance, $3.50 600 COZ nc
Z 3Os. On the 81 OF March last. Con.
gress authorized further loan of 5000.
100000. Oithis S7O,0oO 900 was taken
aud added TO the $3.50, 900 900 Of 7 3Js
issued under the act of Congress of july.
1854, TO round II up 10 the sum Of $500.
OOO,O This made the first series Of the
7'3O loan. This left $3.50, 900 900 un.
issued OF the amount authorized by the
last act. TIE issue Of $500, ,UOO, COO of
1t as 7 30's was determined by the Secre
tary of the Treasury. Their sale com.
menced on the lst of April last. This
was t he second series of the 7 80 loan.-
is sale has averaged between $4,000.
600 and $4,000. 900 a day. Only about
S35, ,OOO,0O0 OF il remain, this 12th day
of May.
PnrLApELpnIA, May l4.-The Secre.
tary of the Treasury has decided to issue
the balance Of the loan that was author.
izsd by the act Of Morch, | 8G5, and which
amounts to $3.50, 900, 900, in 7. 30 notes,
precisely similar iu tenor, form and priv.
ileges 10 the sos already sold, payable
in three years from the 10 h of next Ju.
lY; exceptthat the Government will re-
serve 10 itself the option of paying the in.
terest in gold coin at the rate of 6 per
cent, instead of 7 10 in currency. -
Subscribers will dedcc the interest in
currency up to the 10Th OF July, when
they subscribe. The delivery of the
notes Of this third issue of the 7 Bus will
commence on the first Of June, and will
be made promptly and continuously after
tnat da'e. Subscriptions, however. will
be received at once, and interes; at 7 3 10
per cent allowed to subscribers up to the
18Th OF July. in the same manner as il
was allowed for the interval between the
second series and the first.
Any excess Of subscriptions TO The pres.
ent series will be filed with the new issue
as speedily as The notes can be prepared
at the Treasury.
A slight change made in the condi
tioLs Of this third series affects only the
matter OF interest.
Payments made in gold will be equiv.
alent TO currency with the interest OF
a higher rate. The important privileges
Of converting notes into long and popular
eos. gold bearing bonds, or of demand
ing payment OF them at maturity, at the
holders option, is not inelfered with
Takers of The 80 loan will rejoice if the
Secretary sooner or later, avails himseli
OF the option to pay them per cent in
gold in lieu Of a larger rate OF interest in
currency. The return to specie pay.
ments, in the event of which only will
this option be avalled Of would so reduce
and equalize prices as that purchases
made with per cent. gold would be
fully equal 10 those made with 7.3 lOl
in currency.
The machinery used in popularizing
The first two series Of the 80 loan will
be occupied by the Secretary OF the
Treasury in promoting the success OF
the third series. 1t will be under the su.
pervison OF Jay Cooke, Government Loan
Subscription Agent, who will employ
sub-agencies heretofore employed and
with The people are familiar. II is conf
den,ly expected that the whole amount
will be sold in the next sixty or ninety
days. When this $3.50, OOO,OO IS dis
posed of the last opportunity for invest.
ment in these profitable United States Sc.