Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1871-06-07
Register of the Treasury.

Registered Bonds will be issued of the denomina-
tons OF $50 500, $780, $1,000, $1,000 and 100000
aad coupon bonds of each denomination except the
last two. The interest win be payable in the Uaited
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 on the Registered Stock of this loan it
is determined by the Treasury Department, will be
paid as conveniently to the holder on the Coupon
Stock, and personal attendance, or attendance by
proxy at the Treasury, to draw and receipt for the
interest will be dispensed with, wHENEvER
OF THE UNITED STATES TREASURER, MAILED PUyoTU-
ALLY TO TIE ADDRESS AND ORDER OF EACH HOLDER, ON
OR BEFORE EVERY QUARrER-DAY, Is PREFERRED TO
SUCH ATTENDANCE. This check, payable in Gold Coin
at the Treasury in New ork Tor such other Office
the stock is registered at will be negotiable col
lectable on the Endorsement of the owner owners
of the stock. In pursuance Of this arrangement,
the subscribers to- purchasers of the stock in its
registered form, (Which is a complete protection
against theft orether losses incident to coupon bonds
payable to bearer advised to give their post-oce
address in FULL and to notify of any change in the
address between quarter days.
The whole proceeds of tho new loan will be applied
to tn payment orredemption and cancellation of the
$40 years per cent bonds and in addition to these
proceeds, the $40 are being reduced by purchase
at the rate of S10O0O,0OO per month
The entire effect, therefore, of the new loan in
necon with the existing sinking fund process of the
Treasury, is to reduce both principal and interest of
the public debt of the United States. THE LOAN
CREATES NO ADDITIONAL SUPPLY GOVERNMENT
no of ha nluar
derived in gold from Customs is constantly lessening
it hasbeen doing for two years past, the funded
stocks bearing six per cent. gold interest.
The lst of May schedule of the Public Debt, which
has just been published by the Secretary Of the
Treasury showsa reduction ia these stocks suce the
April schedule of sl2 700, and further lessenfng
of the yearly interest charge thereon of S732 942
This leaves the total yearly interest chargs in gold
sll2,9s2O 3i. In tue same month the Treasury paid
and Cancelled 81 COO of the Three per Cent. Cur
rency Debt reducing the whole of this debt bearin
interest to s5l OOO and the yearly interest charge
thereon to sI,537,47o.
The proposed further reductio Of the annual in
terest charge upon the public debt by reundDg is
follows:
By exchange Of $500 000, 900 United States
6per cents for per cents of 1S61.. S. 000 900
6 per cents for az per cents of lS66. 1900 900
By exchange of 100000 900 United States
6 cents for per cents of 19O1..... 100000
Total saving per annum by refunding... So, 100000
The large and rapid accumulation in the last few
years of private capital now retired from business
and of the cash savings and life insurance premiums
deposited with or intrusted to the proviien nstitu
tons of the coun:ry-al seeking the most undoubted
security pledged be kept fee of all taxes under
national local authority and content provided this
object be assured with moderate rates of interest
will, no doubt, ultimately absorb much of these
New Stocks may not be taken voluntary CONVEX
sion of United States 5-2Os, or marketed abroad.
c. C. NORVELL,
In charge of United States Loan Advertising.
TREASURY OFFICE,
New York, May 2, ISL. 5-3w