The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1871-03-10
NEW LOAN OF THE UNITED STATES
IMPORTANT CIRCULAR.
TREASURY DEPARTMENT:

TREASURY DEPAHTMENT, IS
WASHINGTON, Feb. q, 1871.
Public notice is hereby given, that books
will be opened on the 9Th day Of March next in
this country and in Europe, Tor subscriptions
to the National Loan, under the act approved
July IA, 1870, entitled IAN Act to authorize the
Refunding of the National Debt" and the Act
in amendment thereof, approved January %.
1871.
The proposed loan comprises three classes of
BondG, namely:
FTst-Bonds to the amount of five hundred
millions Of dollars, payable in coin. at the
pleasure OF the United States, after ten years
from the date of their issue, and bearing inter
eat payable quarterly in coin, at the rate of five
per cent per annum.
second Bonds to the amount of three hun
dred millions 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 coin, at the rate
offour and a halt per cent. per annum.
Third bonds to the amount of seven hun
dred millions of dollars, payable in coin, at the
pleasure of the United States. after Thirty years
from the date of issue, and bearing inter-
est pay able quarterly in coin, at the rate of
four per cent: per annum.
Subscriptions to the loan will have prefer
ence in the following order, namely:
Fsrst-Subscriptons that may be first made
for five per cent. Bonds to the amount of two
hundred millions of dollars, of which there will
be reserved, for twenty days, one-half for sub
scrioers in this country and ope-half for sub
scribers in foreign countries
Second-Subssription for equal amounts of
each class of Bonds.
1hird-Subscriptions for equal amounts of
Bonds bearing interest at the rate of four and
halt per cent, and of Bonds bearing interest
at the rate of five per cent.
Fourth for any I've per cent.
Bonds that may not be subscribed for in the
preceding classes.
When subscription is made, the subscriber
will be required to deposit two per cent. of the
amount thereof in coin or currency of the
United States, or in bonds of Ethe class to he
exchanged, to be accounted for by the Gov
eminent when the new Bonds are delivered,
and payment ma, be made either in coin or in
bonds of the United States, known as Five
twenty Bonds, at their par value.
The coin received in payment will be applied
to the redemption of Five-twenty Bonds. and
the debt OF the United States will not be in
creased by this loan. Ilta
The bonds will be registered or issued with
coupons, as may be desired by subscribers.
Registered bonds will be issued of the demon
nations of $50. 500, $500, 81. 900 $4,000 and
$40 200; and coupon bonds of each denomina-
ton except the last two. The interest viii be
payable in the United States, at the office of
the Treasurer, any Assistant Treasurer, or
Designated Depository of the Government,
quarterly, on the first days of February, May,
August and November, in each year.
The bonds of the several classes aforesaid,
and the interest thereon, are exempt from the
payment of all taxes or dues to the United
States, as well as from taxation in any form BY
or under State, municipal or local authority.
After maturity, the bonds last issued will be
first redeemed, by classes and Numbers, as NAV
be designated by the Secretary of the Treas
ury.
The bonds will be issued at the United States
Treasury, but the agents for the negotiation OF
the loan in Europe are authorized to make ar
rangenents with subscribers for the. trans
mission OF the bonds to the agents through
whom subscriptions may be received.
Subscribers in the United States will re-
ce've the new bonds of the agents with whom
the subscriptions are made.
In the United States, the National Banks
are authorized to receive subscriptions, and
subscriptions may also be made at the Office OF
the Treasurer of the United States, or of any
Assistant Treasurer, or at the Designated De-
positaries at Buffalo, N. Y, Chicago, ILL.,, Gin
cinnati, Ohio, Louisville, Ky, Mobile, Ala,
and Pittsburg, Penn. = - ~ - Z0
Tho following banking houses are also au-
thorized to act as agents in receiving subscrip-
tons in the United States. viz: -.,...
BOSTON, MASS. sl
Blake Brothers. Lee, Higeinson 3 Co.
Brewster, Sweet & Co. Page, Richardson g. Co
Dupee, Beck g. Styles. Spencer, Villa & Co.
Head & Perkins. Tower, Giddings g.
Hubbard Brothers &Co Torrey. -
Kidder Peabody & Go. Walker b Norman.
GEORGE 8. boutwell,,
- Secretary of the Treasury. 4