, 1875-10-20
An Explanation or The Puhl!c-Debt
statements.
History and Conditions Of the Sov-
cgal Loans.
Tht 5.90y Of 1852 an1 1854 10 De TX
tiuguished By March Koxt.
When the Other Bonds Arc Payable.
Value Of Longtime Bonds.

public IL t,,rcc;ed Oil tho first day Of cacl, month
through the nenhpapern to The financial rondi-
ton o: the National Treasury. This publication
II tnade by authority Of tho Heeretary of tho
Treasury, aud IL known ~ the "Htateinent of
Tho public dobs IT tho United Btatcs." This
statement shows tie various loana outstanding,
winch nre classified Under proper headings; tho
cash balance 10 10 Treasury tho amount Of the
public debt and tho docreaso Hade III tho pro-
yions month. The dobt stntenlent Ia matter
OF particular interest to bankcra and brokers,
and Of general .nteroht to all wo pay Auy as.ets-
ton to tho administration Of publ,c Affairs, The
newspapers priut mere Ekeieton OF the month";
ly statement. But, we1o tue eutire atatement to
bo printed, 1t would remain eoatol
book to most pcopto. Hnoo they eau know
little about tho various loans, which arc
referred 10 only by aitls, when they were
created, what amount Of bonda wore authorized.
when ledcomhbfo and whom payable, aud tho
numerous other details that 60 10 make up thoir
individual history. lteiAbIo Information upon
ttoBo pointa csnl,ot fail to be advantageous to
thoso who hold United Statca bonds, or who may
be seeking safe and protithblo tuyostmenta. 1hc
following fkor and figures on the subject hivo
boon obtained from lho records of tho Treasury
Department.
reference to tue public debt Atatomcnt for
October will show that tho bonds Of tho United
States Of which both the principal and Interest
aro payable in gold appear uuder fourteen heads
or tttes which represent that number OF differ
cnt loans. or this number, however, tno loan
known aH
r1YE-TwExTIEB or 1862"
which wts tho largest loan Issued by the Gov
c,nucnt, has tucn called In for payment; or, in
other words, for conversion into bonds bearing
per cent Interest. The call made July u. 1875,
for Gil, ,897, 900. which viii mature Oct. 2J 1875
e1'ingu!hhed tho entire emount ot tbe original loan
poruulty w4s given tho public to subscribe Tor tls
tean md whcn the tins atryed for caoslna tho ole
Of the amount authorized by Congress, tic amount
i s it.ue ss salon. II d; 9 sts
jan aa, ls,b fattter increased tls issue ssoo9oo.
mixing the amount Itsucd SN5,nO1t0. Tnis ent,re
a,noAut has bean e1tluguiahed by actual payments
2s1h Of the preasnt month will to appear In te
llat ot 'ntorestto4rius debt OF the mo,isly debt
Tho whole asnount Of honA known d. nYe etyenttrs
Of March, lt6i hare plso hoen called, End will uatr
intere.t rla Loan ianel ualer set al March 3,
l', the sAue act under wh1ch tho ten-for.y loan
ixsued snd wa for THO bsisucs Of the g VI "o NOT
the loan Vas fJs.2t 0. It radeelnabio after fys
years sud ayabls at any period nut more than forty
OF tAo honds known - dvetwtnstcs Of June 1851,
$40 io1 vera calol under dstes Of Aug. IL, sspt.
~ aa rqa ~ taa fos as
tire balance of thl. loan wil 70 .oon s.h mil
jzod the isaue Of bonds to tho amount Of 1900
tn ase and 4s within forty yn.rs from
smont Of tais iaan now Sornc on tic III Of uerts.
herring deht ts $s7,si.1aa. Calls are now uut for
hplf u ths nsnouu and tho So uoo GU of ptr cents
will h1tingutsh neary tho enttre Calnnoe iy NV. H.
tho anto upon whi.A the opuon ot Tho syndjeaie VIII
Of 1852 aud ISL, which originally sinouuss sui, A.
" fnE LOAN or 1853.
or tue remaining elevdn fifns tho debt statement
tho first tho .t Is tho !uan laj" the amount
being s2duo oo, regsiescd stock, tn'trezt per cent
nas 's ~ IT ,hs ~ 5a ana oan Sa + TIT
United B.ates. Tweu,y inl!uns ~ero tsausd, ray-
abio any sluo sfser jan. l, 1871. from whlvh fatt
No bona Of thls loan issnei for tehs thai COL
fbo small balance yet outstanding rnay be redeemed
ssess viii have 10 .azo ysos.sssn t"r ito ssnen Or
ronyeraon Of these bonds befosu tue 6ucreary raa
| exttngUlsA them.
LOAN or FEBRUARY, 1861.
This letvas tnt len l,ans which jAya AuY time tn
run. ant which Will 1t y iope, IN the future, con-
atitue The entire list Of Government loans in Tho
T. { s F. .e:as 4 IT, ,a, e.
among the "aiass Of 81" Thu rats Of intsfoat j.
ps. ceat, ,aole January md July. a tue rreseut
tatty seporta ot stock 9uo.at!ona Wit le fouAd It
la1aty Ia attributable to the length Of tins for Which
knoY run. Tue loan ol 1Sl wa, authorized BY tho
Of Fob. lB'I. Twenty-Five nsilous were suthos d,
iassd Ia coupon bonds al 81 U sud res lord bonds
Of g., W, s., %. an4 slo1. On tho bonds It Il a.
bat tle sstrsae M i @ Of ihs .es @ auorst.R III ihs
lopl II pec 31 i.u, aud tho bonds teto'o mSAbIs OIL
ry ns,a f:e r. 1s s.s II at so s
md 'esa than ono nonth befofa ls inauguration 81
r.. es e q ~ T.. e1ss M
tho United 6tates tum not esoetdiau t11ooo,G to
10 ua = The ot 9t n. .;
ths aet 1t will be deserved that sis o,ooo w4ru
which than txistod III tho income of the 0oy.rument
md sn4 st e tlme Of profound ps.ee. a. nses!ously
shs s9es Tre..ry ss aseessa
Ing that cost tho unito 8t4tes 10 negotiate tho loan
74si0 which ie equal to abous II cent ot thu
li4t!ng tAs are hundred millions of new per cstt,
will coat 4e Government about s29so,o Q, wblch Il in
otaeen snl onsb.f millions ID the a. ealls p4rs y
10 1ho fact that the unted sls'es hAd 10 pay II
,er cens % place loan of lwsaty.nre millions sao~1
how much tho crDt Of tbs Government wss reduced
| before tia retirement Of Frcsidunt Buchanap. AMI
just hsss sy noi 10 out Of rlacs 10 state that Ct
suQusated, tbs pubic DAFT va t2s,09v, vi wnsu hs
| retired ii waA }-D5,0,8n.
1 OREGON WAR DEBT.
Tho "0rrHon war debt also comes 10 u from ante
beu d4ys. 1t ~ns authorized by the act Of March =:
1Hl, snd WAS oIcated 10 provide for Tho III.
CURED by TITO T.Fftor1es Of Oregon and Washington
In The supResaiou uf indian hoslsies IN thoso Tsrgi
urtes Ia tho yeats ltol-a, Tho total amount lsurt
WINS u0,810, al of WHICH were coupon tuudA. Tus
rate vt lnteFeAl 10 psr cent. The interest tnt
bona4 for 10 sud sl0 II PAYABLE annually on July
willis tho tn.arest on tho taU0 bonds IL paid senaa
nua,iy on Jan. and jnsy Uults any oaler coupo1
bonds, theso nae payable 10 the order Of psys
naIned in tho bond md e4n ony lass by sss,snHeu.
tus anouut origin ny isuea. sl43.S50 htve been 70
deemed teasin4 $9!a. CO.. now outstsndIuK, which L
| redecaiAble July !, t,al. Ths words Oregon VA
leut printed the fAco Ut tho lunls feuln w!tt
I tie usle Of tbs Loan II derived.
LOAN Or JNLY AND AuGU4T, 1861.
On july ii, iH'l, GonktnAs aessa ACT authori1inl
s Secretary of the Treasury to horruw, tbs cred,
II the uuiie 6tates, su not exceeding z!a0 "
aid ~ ssue therefor coupon Registered LoEdA
Truasuty uasss in such proportions he might dte
asisisabu redeemsb:e II the pleasure Of ths Uutet