New national era. [volume] (Washington, D.C.) 1870-1874, 1871-04-06
NEW LOAN OF THE UyITED
STATES.
Important Circular.
TREASURY DEPARTMENT,
WASHINGTON, February %, Isl,

TREASURY DEPARTMENT,
WASHINGTON, February %, 1871.
Public notice is hereby given that books viii
be opened on the sixth day of March next, in
this country and in Europe, for subscriptions to
the National Loan, under the act approved July
ID, 1870. entitled g An Act to authorize the Re
funding of the National Debt" and an act in
amendment thereof, approved January 20, 1871.
The proposed loan comprises three classes
of Bonds. namely:
First. Bonds to the amount OF FIVE hundred
millions of dollars, payabe in coin, at the
pleasure of the United States. after ten years
from the date of their Issue. and bearing in
tereSt, payable quarterly in coin, at the rate OF
hse per cent. per aHnun-
Second. Bonds 10 the amount OF three huE-
dred millions Of dollars, payable iii coin, at the
pleasure of the United States, after fifteen
years from the date of their issue and bearing
interest. PAYABLE quarterly in coin, mt the rate
of tour and "a half per cent. per annum.
Third. Bonds 10 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 their issue, and bearing in
terest, payable quarterly in CON- ut the rate OF
| four per cent. per annum
Subscriptions to the loan Will have preference
! in the following order, namely:
| First Subscriptions 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 or twenty days, one half for sub
scribers in this country, and one half for sub
| scribers in foreign countries.
| Second. Subscriptions for equal amounts OF
each class of bonds.
! Third Subscriptions for equal amounts Of
bonds bearing interest at the rate of four and
| a half per cent. and of bonds bearing interest
at the rate Of FIVE per cent
| Fourth. Subscriptions for any five per cent.
bonds that may not be subscribed for in the
pressing classes.
| When "A subscription is made the subscriber
will be required to deposit two per cent. of the
amount thereof In coin or currency OF the L NJ
! ted States, or in bonds of the class TO be ex-
changed, to be accounted for by the Govern
ment when the new bonds are delivered and
payment may be made either in coin OF in bonds
of the United States known rs the FIvE-TwESTY
| BONDS, at their par value. The coin received
in payment will be applied to the redemption
of hve-twenty bonds, and the debt of the Uni-
ted States will not be increased by this loan.
| The bonds will be registered or issued with
| coupons, as may be desired by subscribers
| Registered bonds will be issued of the denomi
nations of $50, 500, $500, 1000, $1,000
and 10000 and coupon bonds ofeach denom
nation except the last two. The interest will
be payable in the United States, at the office of
the Treasurer, any Assistant Treasurer, or
designated depositary of the Government, quar-
terly, on the first days of February, May, Au
gust, 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 may
| be designated by the Secretary of the Treasury.
! The bonds will be issued at the United States
| Treasury, but the agents for the negotiation of
the loan in Europe authorized to make
engagements with subscribers for the transmits
sion of the bonds to the agents through whom
subscriptions may be received.
Subscribers in the United States will receive
the bonds of the agents with whom the sub
scrptions are made.
In the United States the National Banks are
authorized to receive subscriptions, and sub
scriptIons may also be made at the office of the
Treasurer of the United States, of any Assist
ant Treasurer, or at the Designated Depositaries
at Buffalo, n. Y; Chicago, H.; Cincinnati,
Ohio; Louisville, Ky. Mobile, Ala; and Pitts
burg, Penn.
The following banking houses are also author
lied TO act agents in receiving subscri p.ons
in the United States, viz: