New-York tribune., 1871-06-01

ard ccuron IDS # each denomination except the
last two Tie interest will be payable in the United
States IT the o &c Of tie Treasurer, any Assistant
Treasurer OF designated depository Of the Govern
ment quarterly, on the First days OF February,
Nav August, and November in each year. Tho
ip+fres, on the Registered stock Of this loan it
IS determined by the Treasury Department, SEQ
Circular below) will be paid as conveniently to
the holder as on the Coupon stock, and personal
attendance or attendance by proxy at the Treas'
ury. TO draw and receipt for the Interest will la
dispepsed with. trkcnerer He check Of he United
States Tyeasuer matted puHc'Udity 10 the dddJe's and
order Of each holder on or before erGy qrartrday B
freC7red 10 such attendance. This check, payable in
Gold Coin at the Treasury in New-York tor such
other office as the stock is registered att. will be ne
cotiable or collectable on the Endorsement Of tho
or owners Of the Stock. In pursuance OF this
arrangement the subscribers TO or purchasers OF,
the stock in its registered form (which ls complete
protection against theft other losses mel
dent to Coupon Bonds payable TO bearer are advised
to give their POST Office address in full and to notify
Of any change in the address between quarterdays.
The whole proceeds Of the new loan will be applied
10 the payment or redemption and cancellation a
the go years six y cent bonds, and in addition to
these proceeds. she 5-20s are being reduced by
purchase at the rate of SlOO0OOOO per month.
The entire effect therefore, Of the New Loan in
connection with the existing Sinking Fund process
Of the Treasury is TO reduce both Principal and In
terest of the Public Debt Of the United States Tho
Loan creates no additional supply Of Gor6nment SocK'
while the application Of the surplus sdenyed
in Gold from Customs is constantly lessening az 1t
has been doing for two years past, the Funded
Stocks bearing six ID cent Gold Interest.
The lst of May schedule Of the Public Debt, which
L.. Loo p,,Ili ubaJ nv he n
Treasury shows a reduction in these Stocks since
the April schedule of Sl22l5,lOJ and further less
ening of the yearly interest charge thereon OF S152
92. This leaves the total yearly interest charge in
| Gold Sill 9S9 G4 In the same month the Treasury
| paid and Cancelled S?4iOGVO Of the Three = Cent
Currency debt reducing the whole Of this debt bear
ing interest to Sj1.O230O0, and the yearly interest
charge thereon to Sl,557,43O.
terest charge upon the Public Debt by refunding is
40 Iy cTrba9ce Of 500 900 600 United states sx
per cents for five per cents Of $,OoW1
| By exchange OF s3oOOo0oOO United states SIX
per cents four aud half per cents OF 1886 $4,000
! By exchange OF S700,OO,OC0 United States Elk
per cents for four per cents Of liOco@"
Total saving per annum by refunding. .s23, 5000
The large and rapid accumulation in the last few
years of private capital now retired from active Dns-
| ness and of the cash Savings and Life Insurance
premiums deposited with or lntrusted TO the proyl-
! dent institutions Of the country-all seeking the
most undoubted security, pledged to be Kept free OF
all taxes under national or local authority, and con-
tent provided this object be assured, with moderate
| rates Of interest--wi no doubt ultimately absorb
so much of these new stocks as may not be
taken in voluntary conversion OF nted states oDS
u In charge of United States Loan Advertising
! Treasury Olfce New-York, May ?. 1871.
TREASURY DEPARTMENT, LOAN DIVISION May Is, lsll.
1t has been determined by the Department to pay
the interest on the registered stock Of the new Loans
acts July H. 1870 and JAN 90 lS1l by check to tho
order Of the party in whose the stock Is regis
tered and the check will be transmitted by mail 10
the address of the holder, when furnished; other
wise it will be sent to the care of the Assistant
Treasurer or depository where the interest is TO DO
paid.
Ii is requested in order to enable the Department
to transmit these checks by mall that all parties
subscribing TO the new Loan, or having transfers
made to them, will furnish their correct pOst-oce
address, and ddrise the Department Of any change, at
least fifteen days before interest dds.
During the fifteen days Immediately preceding the
interest days Feb. l. MAY l. Aug l. and Nov. !, the
pairing the checks. If the stock is not presented for
transfer previous to the closing, the interest VIII be
declared to the person to whom the transferred GER
tiicate issued, and the assignee must look 10
that party for the accrued interest to which he may
The new certificate issued upon transfer of stock
will bear interest from the first day OF the quarter
year in which such transfer is made and will inva-
rahly be returned to the party who forwarded the
ASS med certificates by mail, unless otherwise di-
Tected.
Checks issued in payment of interest will bear the
following Endorsement: MS check Is payable on
Treasurer Washington, the Assistant Treasurer at
Boston, NewloTk Philadelphia, Baltimore, Charles
ton New-OTleans ST. Louis, or san Francisco or the
designated Depository at Buffalo, Chicago Cincin-
natl, Louisville, Mobile, or Pittsburgh
Should any checks be returned TO tho Department
as uncalled for they will be held by the Treasurer
of the United States. subject To the order OF the
payee. GEO. ,. BOUTWELL,, Secretary