The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1871-04-29
NEW IDTER1'ISEM ENI'S.
"a NEW LOAN OF TIE UNITED STATES.


s NEW LOAN OF TIE UNITED STATES.
The subscriptions the New Five Per Cent Stock of
the United States now amount about $50 900 OOO-
They confidently expected To reach s2oooooOoo by
the time the New Bonds ready for delivery in May.
The proposals of the Secretary Of the Treasury will then
he changed to the following programme
FrSf--Rons to the amount of thr"' hundred millions
of dollars payable in COIN AT tn" ple,sur" of the United
States after ten from the date of their ISSUE and
bearing interest payable quarterly in coin, the rate
of five per cent. per annum.
Second-Bonds to the amount of three hundred mil
lions of dollars payable in coin at the pleasure of the
United States after fifteen years from the date of their
ISSUE and bearing interest payable quarterly in CON- at
the rate of four and ahalf per cent. per annum.
Thrd-Bonds to the amount of seven hundred mil
lions Of dollars payable in con at the pleasure Of the
United States after thirty years from the date of their
ISSUE and bearing interest," payable quarterly in con at
the rate of four per cent. per annum.
Subscriptions to the loan will have preference, after
the aforementioned two hundred millions taken up
in the following order, namely:
FTrst-Subscriptions for equal amount, of each class
of bonds.
.Second-Subscriptions for equal amounts of bonds
bearing interest at the rate Of four and aha cent?
and of bonds bearing interest at the rate of five cent
Subscriptions for any five per cent. bonds that
may not be subscribed for in the preceding classes.
Subscriptions to the remainder of tho 200,0O0O00 of
five per ccnts which unconditional, now going
on and the bonds will be Issued to the subscribers
who receive scrip certificate in advance, if they
desire to pay their gold exchange United States 520s
at once, in the registered coupon FORM Registered
bonds will issued of the denominations of $50 $780,
u o,,dS nd hnpIs pfpo
denomination except the last two The interest will be
payable in the United States the office of the Treas
urer any Assistant Treasurer designated depository
of the Government quarterly the first days of Feb
ruary May, August and November, in each year.
The bonds of the several classes aforesaid, and the
interest thereon, exempt from the payment of all
taxes or dues the United States well from taxa
ton in any form by under State municipal local
authority.
After maturity the bonds last issued will be first
deemed by classes and numbers may be designated
by the Secretary of the Treasury.
Tho reduction of the public debt since the close of the
of the rebellion and the relief at ths time, to
the annual burden Of interest," follows
Principal of debt S2755 9o5 275
Paid under Johnson. 2oo,oaoo'l
Principal March T. eo.............. 4s1 ss9 eo4
Paid under Grant. 223 OS3 673
Present public debt s. 26s BIG 231
Interest charge, Isl 49, 05l
Reduced in four years by redemptions and
funding $50 notes...................." 25,44250l
Interest charge SIPS $3.50 $50
Reduced in two years by payment......... 12O5299S
Present interest charge STA 1886 $50
The proposed further reduction of tho annual interest
charge upon the public debt by reundng is foows
By exchange Of $500, 600 900 United States
six per cents for five per cents of 1881 S,O0O0O0
By exchange of $500, 100000 United States
six per cents for four and ahalf per cents
oil 1000
BY exchange of s700,0O0,0o0 United States
six per cents for four per cents of 19O1 600
Total saving per annum by refunding.. S23 500 600
Tho whole proceeds of the new loans will DO applied
to the payment redemption and cancellation of the
$40 years per cent bonds and in addition to these
proceeds the sos being reduced by purchase
ut the rate of $4,000, 900 per month.
C. C. NORyELL,
in charge of advertising United States loans.
TREASURY OFFICE, Nrw-YORK, April Is.
april %, 1s7l-3w