The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-05-11


form, by or under State, municipal, local autho-
rity.
WASHINGTON, ............, 49,.
Entered ........ Recorded ........
OBSERVATION-DISCLOSURES.
Register of the Treasury.
REGISTERED BONDS
will be issued of the denominations of $50,
800, $500, $1,000, $4,000, and $40, 900, and
coupon bonds of each denomination except
the last two. The interest will be payable in
the United States at the Office of the Treasu-
rer, any Assistant Treasurer, or designated
depositary of the Government, quarterly, on
the first days of February, May, August, and
November in each year.
THE INTEREST ON THE REGISTERED
STOCK
of this Loan, it is determined by the Trea-
sury Department, will be paid as conveniently
to the holder as on the Coupon Stock, and
personal attendance, or attendance by proxy
at the Treasury, to draw and receipt for the
Interest, will be dispensed with, aohene06r tho
check Of the United States Treasurer, mailed
punctuaHy to tile address and order Of each
holder, on or before e0ery QuGrter-day, IS pre-
j
able in Gold Coin at the Treasury in New
York Cor such other Office as the Stock is
registered att, will be negotiable or collect
able on the Endorsement of the owner or
owners of the Stock. In pursuance of this
arrangement, the subscribers to, or pur-
chasers of, the Stock in it's registered form
(Which is a complete protection against theft
or other losses incident 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 quarter
days.
The whole proceeds of the new loan will
be applied to the payment or redemption and
cancellation of the 500 years six per cent.
bonds, and in addition to these proc eeds,
the 5-20s are now being reduced by purchase
at the rate of $40, 600, 900 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 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 de-
| rived in gold from customs is constantly les
sening, as it has been doing for two years
past, the funded stocks bearing six per cent.
| gold interest.
The 1st of May schedule of the public debt,
which has just been published by the Secre-
tary of the Treasury, shows reduction in
these Stocks since the April schedule of
| $12, ,215, 700, and further lessening of the
yearly interest charge thereon of 1882, 942
This leaves the total yearly interest charge
in Gold $111, ,9s2, ,O34. In the same month
the Treasury paid and cancelled So, 47O, 900
of the Three per Cent Currency debt, re-
ducipg the whole of this debt bearing interest
to SOL, ,O23, 900, and the yearly interest charge
thereon to 81, 537, 40.
The proposed further reduction of the an
pual interest charge upon the Public Debt by
refundiDg is as follows
! BY exchange OF $500 OO0, 900 United
States six per CENTS for new five per
cents OF 1881 S. 600 900
| By exchange OF s3OO 600 900 United
States six per cents for four aud a half
per cents Of 1855 4.DOO. 900
| BY exchange OF S00,O0O,OOO United
States six per cents for four per cents
Of Il, 600 goo
Total saving per annum by refuuding s23, 500 900
The large and rapid accumulation in the