New national era. [volume] (Washington, D.C.) 1870-1874, 1871-03-30
NEW loan OF THE UNITED
STATES.

IMPAIRMENT.

TREASURY DEPARTMENT.,
WARRINGTON, February %, 1871.
Public notice is hereby given that books will
be opened on the sixth day of March next, in
this country and in Europe, for subscriptions to
the National Loan, under the act approved July
IA, 1870, entitled :" An Act to authorize the Re-
funding of the National Debt" and an act in
amendment thereof, approved January 20, 1871.
The proposed loan comprises three classes
of Bonds, namely:
First. Bonds to the amount of FIVE hundred
millions of dollars, payable in coin, at the
pleasure OF the United States, after ten years
from the date of their issue, and bearing in
terest, payable quarterly in coin, at the rate of
five per cent. per annum
Second Bonds to the amount of three hun
dred 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 coin, at the rate
OF tour and a half per cent. per annum.
Ihtfd. Bonds to the amount of seven hun
dred millions of dollars, payable in coin, at the
pleasure OF the United States, after thirty years
from the date of their issue, and bearing in
terest, payable quarterly in coin, at the rate of
four per cent per annum.
Subscriptions to the loan will have preference
in the following order. namely
First Subscriptions that may be first made
for tive per cent bonds to the amount of two
hundred millions of dollars of which there will
be reserved, or twenty days, one half for sub
scribers IN this country, and one half for sub
scribers 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
a 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 or currency of the Uni
ted States, or in bonds of the class to be ex-
changed, to be accounted for by the Govern
ment when the new bonds are delivered and
payment may be made either in coin or in bonds
of the United States known rs the FIvETwENTY
BONDS, at their par value. The coin received
in payment will be applied to the redemption
of etwenty bonds, and the debt of the Uni
ted States will not be increased by this loan.
The bonds will be registered or issued with
coupons, as may be desired by subscribers.
Registered bonds will be issued Of the denom-
nations of $50, 500, $500, 81 200, $4,000,
and $4,000 and coupon bonds ofeach denomi
nation except the last two. The interest will
be payable in the United States, at the office of
the Treasurer, any Assistant Treasurer, or
designated depository of the Government, quar-
tery, on the first days of February, May, Au-
gust and November, in each year.
The bonds of the several classes aforesaid,
and the interest thereon, are exempt from the
payment of all taxes or dues to the United
States, as 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 designated by the Secretary of the Treasury.
The bonds will be issued at the United States
Treasury, but the agents for the negotiation of
the loan IN Europe are authorized to make
rangements with subscribers for the transmits
sion 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 sub
scriptons are made.
In the United States the National Banks are
authorized to receive subscriptions, and sub
scriphons may also be made at the Office of the
Treasurer of the United States, or of any Assist
ant Treasurer, or at the Designated Depostaries
at Buffalo, n. Y: Chicago, H.; Cincinnati,
Ohio; Louisville, Ky; Mobile, Ala; and Pitts
burg, Penn.
The following banking houses are also author
lied to act agents in receiving subscri ptions
in the United States, viz:
NEW YORK CITY.
Austin. Baldwin & Co. James G. Kings Sons.
Baker Kitchen. kountze Brothers.
A. Belmont q Co. Leonard, Sheldon a.
Blake Brothers x Co. Foster.
Brown Brothers 4 Co. Maitland, Phelps Il CO.
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