New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-05-25
gotiabe or collectable ON tho Endorsement Of the
owner or owners Of the Stock In pursuance OF this

qotiable or coIlectable on tho Endorsement Of the
owner or owners of the Stock. In pursuance OF this
arrangement the Subscribers TO or purchasers OF,
the stock In its registered form (which is acOmpete
protection against theft or other Losses Incl
dent to Coupon Bonds payable to bearer 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 redemption and cancellation OF
the $40 years six ~ cent bonds and, in addition 10
these proceeds, the 5-20s are now beng reauced ny
purchase at the rate of $f0,0O0,0OO per month";
The entire effect, therefore, OF the new Loan In
connection with the existing Sinking / una process
of the Treasury is to reduce both Principal and In
torest of the Public Debt of the United States. The
Loan creates no additional supply Of Government Stocks,
while tho application of the surplus derived
in Gold from Customs is constantly lessening as 1t
has been doing for two years past tho Funded
Stocks bearing six ~ cent Gold Interest.
The 1st of May schedule of the Public Debt, which
has inst been published by the Secretary OF the
Treasury shows reduction in these stocks sillco
the April schedule Of S122l57 200, and further less
ening OF the yearly interest charge thereon OF oIoE
9i2 This leaves the total yearly interest charge In
Gold Slll 981 04 In the same month inc iTeaSluy
paid and cancelled S2,4OQOO Of the th i bearD
Currency debt reducing the whole OF TINS deDt Dear
ing interest to Sj1 O2S0C0, and the yearly interest
charge thereon TO 81 ,537,4lO. 81, , :;
The proposed further reduction OF inc annuar T.
terest charge upon tho Public Debt by reIuhainS 10
By exchaaee OF ssoOOCOOOO United states six
~ yer exsbanfe Of $soc0oooOO United states six
per for four and half Per cents OF isS f'VO
By exchange OF s7O0O00O0 United states SIX ooo
per cents for four per cents Of
Total saving per annum by refundlng s23 10000
The large and rapid accumulation In the lasI IeT
wears of private capital now retired from acLlye ps
ness and of the cash Savings and life Insurance.
| Ianoe WI
dent institutions Of the coqntry-ai hee - ed S
most undOubted security, pedged ~ no and con-
tent provided this object be assured WIN
! rates of interest-will no doubt ultimately ABSORB
so much Of these new stocks a? ip sata noS
taken in voluntary conversion OF InleG 1TaeS ''S
u In charge of United States Loan Advertising.
11t asSRy DEPARTMEST LOAN DIVISION May IS, 1871.
| II has been determined by the Department to pay
fine interest on the registered stock OF the new Loans
iacts uy a. 1870 and JAN 20, 1871 by check to the
order of the party in whose name the STOCK Is IeYs
tered and the check will be TRANSMITTED Dy MAI 70
| the address OF the holder when furnished oIner-
| wise it will be sent to the care OF the ASSISTANT
Treasurer depository where the interest Is 70 10
paid. A.. 1,ooort,,or+
TO transmit these checks by mall that All parsleS
subscribing to the new Loan or haylng 9
made to them will furnish theF Of S @9g cGag5 al
| least fifteen ddys before interest days. ,,
During the fifteen days Immediately preceding the
interest days. Feb i, May aug. !, dnu wv - ~.
tTansfer-books viii be closed for the purpose OF pre-
uaring the checks If the stock IS not presented lor
transfer previous to the closing the interest VIII De
declared to the person to whom the transferred GER
| tifcate was issued and the assignee must LOOK 20
that party for the accrued interest to winch Ae may
| be entitled. Ill.
The new certificate issued upon transfer Of stock
will bear interest from the first day or the quarter
wear i'm which such transfer is made, and viii inya-
Tiably be returned to the party who forWarded the
| assigned certificates by mall unless otherwise Ill
rected. ,,,.,
Checks issued in payment Of interest will bear the
following Endorsement: This check is payable. on
presentations properly ind0rsed at the Office OIL the
Boston, Ncw-York, Philadelphia, Baltimore Charles
ton. New-Orleans St. Louis or San Francisco, or the
designated Depository at Buffalo, Chicago, Cmoln-
| natl Louisville Mobile, or Pittsburgh"
| Should any checks be returned to the Department
as "uncaed for" they will be held by the treasurer
! of the United States, subject to the order OF the
! payee GEO - BOUTWELL, oeOIe''IS'