Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1871-03-10
New Loan of the United States.
IMPORTANT CIRCULAR.
TREASURY DEPARTMENT,

Public notice is hereby given that books will be
opened on the 9Th day of March next in this coun-
try and in Europe, for subscriptions TO the National
Loan, under the act approved Jnly A. 1870 entitled
IAN Act to authorize the Refunding OF the Ma
tional Debt" and the act in amendment thereof
approved Jan. 20, 1871.
The proposed loan comprises three classes of
bonds, namely:
FirSt-Bonds to the amount of five hundred mil.
lions of dollars, payable in COIN at the pleasure of
the United States after ten years from the date of
their issue, and bearing interest," payable quarterly
in coin, at the rate of five per cent. per annum.
Second-Bonds to the amount of three hundred
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 CON- at the rate of four and half per
cent. per annum.
Third-BOnds to the amount of seven hundred
millions of dollars, payable in coin at the pleasure
of the United States, after thirty years from the
date of issue, and bearing interest payable quarter
y in coin, at the rate of four per cent per annum.
Subscriptions to the loan will have preference in
the following order, namely:
Neutrality-suspicious. that may be first made at
five per cent. Bonds to the amount of two hundred
millions of dollars, of which there will be reserved
country and one-half for subscribers 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 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 preceding
classes.
When subscription is made the subscriber will
be required to deposit two per cent of the amount
thereof in coin currency of the United States or
in bonds of the class to be exchanged, to be ac-
counted for by the government when the new bonds
are delivered, and payment may be made either in
coin or in bonds of the United States, known as
fye-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 increased by this
loan.
The bonds will be registered or issued with cou-
pons, may be desired by subscribers. Registered
bonds will be issued of the denominations of $50,
800, $500, $1,000, S5O00 and $4,000; and coupon
bouds of each denomination except the last two.
The interest will be payable in the United States at
the office ofthe treasurer any assistant treasurer,
or designated depositary of the government, quar-
terly on the first days sof 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 dues to the United States las 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 desig-
mated by the secretary of the treasury.
Tee bonds will be issued at the United States
treasury, but the agents for the negotiation of the
loan in Europe ARE authorized to make arrange
ments with subscribers for the tramission of the
bonds to the agents through whom subscriptions
may be received,
Subscribers in the United States will receive the
new bonds OF the agents with whom the subscrip.
tiOns are made.
In the United States, the national banks are au.
thorzed to receive subscriptions and subscriptions
may also be made at the office of the treasurer of
the United States, of any assistant treasurer or
at the designated depositaries at Buffalo, N. Y,
Chicago,' ILL.,. Cincinnati, Ohio, Louisville, Ky,
Mobile, Ala and Pittsburg, Pa
The following banking houses are also authorized
to act as agents in receiving subscriptions in the
United States, viz:
BOSTON, MASS.
Blake Brothers. Lee Higginson & Co,
Brewster, Sweet Co. Page Richardson & Co.
Dupee, Beck & sayles. Spencer, Villa & Co.
FOote & French. Stone & Downer.
Head & Perkins. Tower Giddinps & Torrev.
Hubbard Brothers & Co. Walker & Merriam.
Kidder, Peabody & Co.
GEORGE S. BOUTWELL,,
Secretary of the Treasury.