The Portland daily press., 1871-05-20
Register of the Treasury,

Register of the Treasury.
Registered Bonds will be Issued OF the denomina-
tons OF $50, 500, $500, $1,000, $780, and $4,000,
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 May,
August, and November in each year. =
The Interest the Registered Stock of this Loan,
it is determined by the Treasury Department, will
be paid as conveniently to the holder on the Cou
pom Stock, and personal attendance, or attendance
by proxy, at the Treasury, to draw and receipt for
the Interest will be dispensed with arhenever The
check Of the United States Treasurer, mailed pnct-
ualy to the address and order Of each holder, on or
before erery Quarter-ddy, is preferred to such aen-
dance. This check. payable in Gold Coin at the
Treasury in New York, Tor such other Office as the
Stock registered at) will be negotiable collect
able the Endorsement of the ownersof the
Stock. In pursuance of this arrangement, the sub
scribers to, purchasers of, the Stock in its regis
tered form, (which is complete protection against
theft other losses incident to Coupon Bonds pay
able to bearer) are.advised to give their Post-oce
address in ful and to notify of any change in the
address between quarter days. LsEE
The whole proceeds of the new loan will be APP
piled TO the payment or redemption and cancellation
OF the 500 years six Der cent bonds, and in add-
ton these proceeds, the 5-2Os being re-
duced by purchase at the rate of $4,000 900 per
month. aasEg r-a sefsv1F H
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 tie application OF the surplus revenues
derived in Gold from Customs is constantly lessen
ing, It has been doing for two years past the Fund
| ed Stocks bearing six per cent Gold Interest.
The LIST 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 $l2,2l57 OO and further less
ening OF the yearly interest charge thereon of $7s,
9f2. This leaves the total yearly interest charge
Gold Sill 9sl, 1884, In the same month the Treasury
paid and cancelled $2,47O00O Of the Three per Cent
| Currency Debt, reducing the whole of this debt
bearing interest to SOL 0O0 and the yearly inter-
| est charge thereon to 81 ,537 40.
The proposed ful ther reduction of the annual in
terest charge upon the Public Debt by refunding is
as follows:
By exchange Of s5O0,OOO,O0 U. S. 6 per
cents for new per cents of 1881. .....$ 5000 900
| By exchange of $780, 900 U. s. per
cents for ~ per cents OF 1886. ........ 45O0 900
By exchange OF 500, OooO 900 U. S. 6 per
cents for per cents OF 1901 II, 900 900
Total savingper annum by rounding. 1928 500, 900
| The large and rapid accumulation in the last few
Years of private apta now retired
| ness, and of the cash Savings and Life Insurance
premiums deposited with or intrused to the provi-
dent institutions of the country-ail seeking the
| most undoubted security, pledged to be kept free o.
all taxes under national or local authority and con
tent, provided this object be assured with moderate
rates of interest-wi, no .doubt, ultimately absort
much 81 these New Stocks as may not be taken in
voluntary conversion of United States COS, or mar
| keted abroad.
&C. NORVELL,
In charge of United States Loan Advertising
TREASURY OFFICE,
NEw-YORK, May 2, 1871. 13-2O-a,