New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-05-27
: : ; ;
Register of the Treasury.

Register of the Treasury.
Registered bonds will be issued of the denomina-
nations of $50 $780, $500, 81 OO0 $1,000, and $1,000
and coupon bonds Of each denomination except the
last two The interest will be payable in the United
States at the office of the Treasurer any Assistant
Treasurer or designated depository of the Govern
ment quarterly, on the First days of February,
Nav August, and November, in each year. The
interest on the Registered stock of this loan 1t
is determined by the Treasury Department lsee
Circular below, will be paid as conveniently to
the holder as on the Coupon stock, and personal
attendance or attendance by proxy at the Treas
ury to draw and receipt for the Interest will be
dispensed with, uhenere the check Of the United
States Treasurer mailed punctudly 10 the address and
order of each holder before erey qaarerday is
preferred to such attendance This check, payable in
Gold Coin at the Treasury in New-York Tor such
other Office the stock is registered att will be ne
gotable or collectable on the Endorsement Of the
owner or owners of the Stock In pursuance Of this
arrangement, the subscribers to or purchasers of,
the stock in its registered form (which is a complete
protection against theft other losses Incl
dent to Coupon Bonds payable to bearer advised
to give their PosOfice address in full and to notify
of any change in the address between quarterdays.
The whole proceeds Of the new loan will be applied
to the payment OF redemption and cancellation of
these proceeds the 5-2Os are now being reduced by
purchase at the rate of SlOOOOOOO per month.
The entire effect, therefore, of the New Loan, 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 derived
in Gold from Customs is constantly lessening as it
has been doing for two years past the Funded
Stocks bearing six u cent Gold Interest.
The 1st of May schedule of the Public Debt, which
has just been published by the Secretary of the
Treasury, shows reduction in these Stocks since
the April schedule of S2,2l57OO and further less
enng of the yearly interest charge thereon of 49,
92 This leaves the total yearly interest charge in
Gold, Sll,9S!, 04. In the same month the Treasury
paid and cancelled $4,000 of the Three + Cent
Currency debt reducing the whole of this debt bear
ing interest TO S51 G23O00 and the yearly interest
charge thereon to Sl,5314IO
The proposed further reduction of the annual In
terest charge upon the Public Debt by refundlDg Is
By exchange Of s5coOOo,OOO United States six
per cents for new five per cents OF 1881 .. S,OOOO
BY exchange OF s300,OOO,OOO United states SIX
per cents for four and hafper cent: OF 1886 100000
per cents for four per cents OF 90l......4OOoOOO
Total saving per by refunding .s25, 5O0o 900
The large and rapid accumulation In the last few
years private capital now retired from active busl-
ness, and of the cash Savings ana lne insurance
premiums deposited with or intrused to the proyl-
dent institutions of the countTy-all seeking the
most undOubted security, pledged to be kept fIee Oh
all taxes under national or local authority, and con-
tent provided this object be assured with moderate
rates of nterest-will no doubt ultimately absorb
80 much of these new stocks as may not be
taken in unary conversion OF Imted states o-%Us
or marketed abroad ~. NOVEL.
Treasury Ofoe. York, May ?, 1871. 49,.
TREASURY DEPARTMENT, LOAN DIVISION, May 10, 1871.
Ii has been determined by the Department to pay
the interest on the registered stock of the new Loans
acts July H. 1870 and Jan. 90 1870 by check to the
order Of the party in whose the stock Is regis
tered and the check will be transmitted by mail to
the address of the holder; when furnished; other
wise, it will be sent to the care of the Assistant
Treasurer depository where the interest Is To be
paid.
1t is requested in order to enable the Department
TO transmit these checks by mail, that all parties
subscribing 10 the new Loan, or having transfers
made to them, will furnish their correct post-0Hce
address, and ddrise the Department Of any change, at
least ftteen day, before interest ddy;. A..
During the fifteen days Immediately preceding the
interest days, Feb. |, May l. Aug. l. and Now !, the
books will be closed for the purpose of pre-
pairing the checks. If the stock IS not presented for
transfer previous to the closing, the interest VIII be
declared to the person TO whom the transferred GER
tifcate was issued, and the assignee must look To
that party for the accrued interest to which he may
be entitled.
The new certificate issued upon transfer of stock
Will bear interest from the first day of the quarter
year in which such transfer Is made, aud VIII lnya-
riaby be returned 10 the party who forwarded the
assigned certificates by mall unless othefwlse di-
rected ,,,
Checks issued in payment of interest will bear the
following Endorsement: This check Is payable on
presentation, properly indorsed III the once Oh lne
Treasurer at WASHINGTON, the Assistant Treasurer az
Boston, New-York, Philadelphia, Baltimore, Charles
ton. NewOTcans, 81. Louis, or san Francisco OF me
designated Depository nj Buffalo, Chicago, ClnCn-
natl Louisville. Mobile or Pittsburgh
Should any checks DO returned TO the Department