The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1871-06-01

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Register of the Trcasurv
Registered Bonds will be issued Of the demon ina
tions of $780, $780, $500, 81 03O 5000 $lo,ooo and
coupon bonds Of each denomination except tho last
two. The interest will be payable in the United
States, at tue Office of the Treasurer designated de-
pository IF the Government, quarterly, tho iirst
days of February. May, August, and November in
each year.
The Interest on the Registered Stock Of this Loan.
it is determined by the Treasury Department. will be
paid as conveniently to the holder the Coupon
Stock, and personal attendance by proxy, at the
Treasury, to draw and receipt for the Interest will
be dispensed with, whenever the check Of The Uaated
States Treasurer mailed unctuay to the address and
order Of each HOLDER before every quar- e,day, is
preferred to such attendance. This check, payable in
Gold Coin at the Treasury in New York Tor such other
Office tho Stock is registered at) will be ncgoti-
able the Endorsement ofthe or ownors Of he
Stock. In pursuance Of this arrangement, the SUBJ
scrbers to, purchases the Stock in its register
cd form, (Which is q complete protection against
theft other losses Incl lent to Coupon Bonds pay
able to Beaer) advised to give their Post-otce
address in FULL and to notify OF any change in the adj
dress between quarter days.
The whole of the new loan will be applied
to the payment or redemption and cancellation OF the
$50 per cent bonds and, in addition to these pro
cseds, tho sos being reduced by purchase at
the rate OF $lo, 1000 per MONTH
The entire effect. therefore, Of the New Losn. in
connection with the existing Sinking Fund process
Of the Treasury, is to reduce both Principal and In
terest Of the Public Debt of the United States. The
Loan creates no additional supply Of Government
Stocks, while the application of the surplus revenues
derived in Gold from Customs is constantly essoning
it has been doing for two years past. the Funded
Stocks barring six per cent Gold Interest.
The :st Of May schedule of the Public Debt, which
has just been published BY tho Secretary Of the
Treasury, shows reduction in these Stocks since the
April schedule Of Sl2 2l57oe, and further lessenng
OF the yearly interest charge thereon of s7329i2.
This leaves the total yearly interest charge in Gold
Sill 1888 034. In the month the Treasury paid
and Cancelled $2.47oooo Of the Three per Cent. Cur
rency Debt reducing the whole of this debt bearing
interest to 81 oo and the yearly Interest charge
thereon to 81 ,537 40
The proposed further reduction Of the annual in.
terest charge upon the Public Debt BY rsfllndnE +
~ follows:
By exchange Of $500. coo, co.. Uniled States
six per cent for now five Per cents Of
By exchange Of $500, 900 ,ooo United States
cents Of 1855 100000
By exchange of 500 900 900 United States
six per cents for four per cents of 1901 $4,000 600
Total saving per annum by refunding 81, SOC, 600
The large and rapid accumulation in the last few
years Of private capital retired from active BIT 81
ness, and Of the cash Savings and Lilo Insurance
premiums deposited with or intrusted to the provi-
dent institutions Of the osuny-sl seeking The most
undoubted security. pledged to b kept free Of al
taxes under national local authority. and eoatsa
provided this object be assured with mod crate rates
Of interest-win, no doubt, ultimately absorb 50
much of these New Stocks az may not be taken in
voluntary conversion of United States sos or mar
keted abroad.
OC.NORVELL.
In charge Of United States Loan Advertising. =.
TkKAsu1t Orncs,
New ORR, Nay :, 1871.