Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1871-05-24
Register of the Treasury.

REGISTERED Bonds will be issued of the denomina-
tions of $780, 500, $500, $1,000 $1,000 and $4,000,
aad 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, designated depository of the Govern
ment, quarterly, the first days of February, May,
August a nd n ovember in each year.
The interest on the Registered Stock of this oan it
is determt ed by the Treasury Department, will be
paid as eniently to the holder 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 THE CHECK
OF THE UNITED STATES TREASURER, MAILED PUScTU-
ALLY TO TIE ADDRESS AND ORDER OF EACH HOLDER, ON
OR BEFORE EVERY oUARTER-DAY, is PREFERRED TO
SUCH ATTENDANCE This check, payable in Gold Coin,
at the Treasury in New ork Cor such other office as
the stock registe red at will be negotiable col
Iectable on the Endorsement of the owner owners
of the stock. In pursuance. OF this ARA lgement,
the subscribers to- or purchasers Of the stock in its
| registered form, (Which is a complete protection
against theft brother losses incident to coupon bonds
payable to beare advised to give their postoice
address in full, and to notify Of any change in the
address between quarter days.
The whole proceeds of the loan will be applied
to the payne redemption and cancellation of the
500 years per cent. bonds and in addition to these
proceeds the $40 being reduced by purchase
at the rate of 100000 per month
The entire effect therefore, of the loan, in con-
necton 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 OF GOVERNMENT
STOCKS while the application of the surplus revenues
derived in gold from Customs is constantly lessenng,
it has been doing for two years past the funded
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 il these stocks suce the
April schedule of Sl2 200, and further essenfng
of the yearly interest charge thereon of $780,, 942-
This leaves the total yearly interest chargs in gold
SIP 9S2, Co., In the month the Treasury paid
and Cancelled 40 900 of the Three per Cent. Cur
rency Debt reducing the whole of this debt bearin
interest $5 OPS 0O0 and the yearly interest charge
thereon to sl,537,47O.
The proposed furthe educt ion Of the annual in
eres charge upon the public debt by reiunding is a.
follows:
By exchange Of s5OO,O 900 United States
per cents for per cents OF lS0l.. 80 ,OOO, VO0
BY exchange of S300,000,o coo United States -
per for Az per cents of 1S66...... 4,5OO 1000
| BY exchange OF 100000 600 United States
cents for per cents of l90l-.......... 4OOO,OOV
Total saving per annum by refunding.. S23,5oO,OoO
The large and rapid accumulation in the last few
wears Of private capital now retired from business,
and of the cash savings and life insurance premiums
deposited with or intrusted to the provident instu-
tons of the coun.ryall seeking the most undoubted
securitv pledged to be kept fee of all taxes, under
national or local authority and content provided this
object be assured with moderate rates Of interest
will, no doubt, ultimately absorb much of these
New Stocks as may not be taken voluntary
sion OF United tates 5-2Os, or market ed abroad.
C. C. NORvELL,
In charge of United States Loan Advertising.
TREASURY OFFICE,
New York, May 2, 1871. 5-Sw