The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1871-06-08


Register of the Treasury.
Registered Bonds will be issued of the denomina
tions of $50, $780, $500, $1,000, 5000 $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 designated
postory If the Government, quarterly, on the first
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 conveniently to the holder on 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 United
States Treasurer, mailed punctalIy to the address and
order Of each holder, before every q4arerday is
preferred to such attendance This check payable in
Gold Coin at the Treasury in New York. Tor such other
Office as the Stock is registered at will be negoti.
able the Endorsement ofthe owners of tho
Stock. In pursuance Of this arrangement, the sub.
scribers to- purchases Of the Stock in its register
ed form, (Which is a complete protection against
theft other losses incident to Coupon Bonds pay
able to Bearer are advised to give their Post-ofce
address in FULL and to notify OF any change in tho adj
dress between quarter days.
The whole proceeds of the new loan will be applied
to the payment redemption and cancellation Of the
$40 per cent. bonds, and, in addition to these pro
cseds the 520s now being reduced by purchase at
the rate of Sic, 600 600 per month.
The entire effect. therefore, of the New Loan, in
connection with the existing Sinking Fund process
of tho 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
scks while the application Of the surplus revenues
derived in Gold from Customs constantly lessoning
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
h.s just been published by the Secretary of the
Treasury shows reduction in these Stocks since the
April schedule of 81, 2l57O0, and further essening
Of the yearly interest charge thereon of $732942.
This leaves the total yearly interest charge in Gold
Sill 1888 034. In the same month the Treasury paid
and cancelled $2.470000 of the Three per Cent Cur
rency Debt reducing the whole of this debt bearing
interest to $751; 0o and the yearly Interest charge
thereon to 81 1851 40
The proposed further reduction of tho annual in
torest charge upon the Public Debt by refundipg Is
as follows:
BY exchange of s5oo, 900 900 Uniled States
six per cent for new five per cents Of
BY exchange OF SSOO, OoO ,OOO United States
six per cents for four and half per
cents of 1866. 100000
By exchange of 500 900 900 United States
six per cents for four per cents Of 1901 100000
Total saving per annum by refunding 100000
The large and rapid accumulation in the last few
years ofprivate capital retired from active brs
ness, and of the cash Savings and Life Insurance
premiums deposited with or Entrusted to the provi-
dent institutions of the seeking the most
undoubted security. pledged to be kept free of all
taxes under natonalor local authority, and conten
provided this object be assured with moderate rates
of interest-will, no doubt, ultimately absorb so
much of these New Stocks may not be taken in
voluntary conversion of United States 520s or mar
keted abroad.
C.C.NORVELL.
In charge of United States Loan Advertising.
TREASURY OFFICE,
New York, May 2, 1871. I