New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-05-09
,bs payment of all Taxes or Duties OF for rme
from tn States as well as from taxation m any lor'
Unlru under state. municipal or Local su'nor'Nts
BY OF u" WASHINGTON, .........., TO-
,,.ouod Recorded ........
Rccister of the Treasury.

Register of the treasury.
-..,orod bonds will be issued of the denomina-
Us 81 $50 $780, $780, 81, 900, $1,000, and SlO'ocV'
cannon bonds of each denomination except inc
sna The interest will he payable in the United
S.es at the office of the Treasurer any Assistant
C'~sprer or designated depository OF the Govern
ont ouarterly. on the First days of February MAY
1ncrst and November. in each year. Inc lu'eleS,
~ tbe Registered stock of this loan. 1t is deterinoN
h. the Treasury Department, will be para a. 0oA
,c,ieutv TO the holder as on the Coupon stocA' o.
nersonal attendance or attendance by proxy ~ I'll
Treasury to draw and receipt for the inteiest
he dispensed with, WheRerer the check o. ", ,n5
S,oies Treasarcr mailed pWnctaGily TO the %
orSer Of each holder on or before eoy qs,obIe in
,,r,fred 70 such attendance. This check ~
PG.[,' =. .ho Troosrr,, IN New-YOrk Tor such
ether office as the stock is registered aV' VIZ A.
oonoc+o,le ON the Endorsement VI tnc
o,,.,,ors Of tho stock. In pursuance Vi 'hls
-.,. ,lo s,,bscribers 10 or purchasers o.
",ti- -, 'ts rcostered form (which is complete
-, theft other losses INCL
r1'''.''C- = po,ds payable 70 bearer) are advised
o'n. " oeice address in full, and to notify
i.,,,,e il, the address between quarter-days.
VI a., - ,roceeds OF the new loan will he applied
nc "nD ~a.pt or redemption and cancellation of
','V six y cent bonds, and, in addition to
- .roceeds the 5-2os now being reduced by
.,'so5ase NJ the rate Of Sl00oO0OO per month.
rbo entire effect therefore, Of the New Loan, in
connection with the existing Sinking Fund process
% tbo Treasury is TO reduce both Principal and In
,rast nj the Public Debt of the United States The
loan create, no additional supply Of Government Stocks.
bilc the application Of the surplus revenues derived
IN Gold from Customs is constantly leSsening, as il
has been doing for two years past, the Funded
stocks bearing six y cent Gold Interest.
The list of May schedule of the Public Debt which
has inst been published by the Secretary Of the
Treasury. shows reduction in these Stocks since
the April schedule Of Sl22l5,sOO, and further less
eDne Of the yearly interest charge thereon of 1882.
o2 This leaves the total yearly interest charge iii
Gold Sill. gs3 U34 In the same month the Treasury
pad and Cancelled S2,f.OOOO of the Three - Cent
Currency debit reducing the whole of this debt bear
inr interest 10 S51C28O0O and the yearly interest
charge thereon to $1,537,A7O.
The proposed further reduction of the annual in
tere,t charge upon the Public Debt by refundug is
as follows:
Br exchange Of $5OO,OO0000 United states six
per cents for five per cents OF 100000
b. exchange of $3OO,OoooOo United states six
per cents for four and halfper cents OF 1865 45OWO
By exchange of S7Oo.OOOOOO United states six
per cents for four per cents of l9ol.... 100000
Total saving per annum by refunding. SIS 100000
The large and rapid accumulation in the last few
years Of private capital retired from active bust
ness. and Of the cash Savings and Life Insurance
premiums deposited with or intrusted to the pr6vi-
dent institutions of the country-all seeking the
most undoubted security pledged to be kept free of
all taxes ulder national local authority, and con-
tent provided this object be assured with moderate
rates Of interest-will no doubt ultimately absorb
so much Of these new stocks as may not he
taken in voluntary conversion of United States 520s
OF marketed abroad. G. c. NoRNIIL
In charge of United States Loan Advertising.
Treasury OHce, New-York, May ., 1871.
PROGRESS OF REDUCTION OF THE NATIONAL DEBT