The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-06-16
WASHINGTON.
Examination al the Naval Acad.
cmy.

Examination at the Naval Acad
cmy.
WASHINGTON, June l5.-The anuua
examination at the Naval Acalem,
closes on Wednesday next, when diplo
mas will be presented to the frat class by
Secretary Thompson.
COTTON INCREASE.
The official canvass in the acreage Of
cotton this year shows an increase Of
per centum on the acreage Of 1875.
CABINET MEETING.
Al the Cabinet meeting to-day the pro
priety Of opening negotiations for new
extradition treaty with England, and the
general terms that should he proposed
were the subjects Of discussion.
PENSION AGENCIES LOCATED. u
II was decided that the consoiida led
Pension Agency for Illinois shall be 10,
Gated at Springfield, instead Of Chicago,
and that Knoxville, instead OF Richmond
as heretofore ordered, shall be the seat OF
office for the payment Of pensions in Vir.
ginia, West Virginia, North Carolina and
Tennessee.
The list Of appointments for the con.
Iolidated Pension Agencies throughout
the United States, has not yet been com.
pleted, and the delay gives all interested
time 10 work for themselves or friends.
THEFouR PER CENT BONDS.
The Secretary OF the Treasury has il.
sued an addition to the prospectus issued
yesterday relative to the 4 per cent bonds,
Any person subscribing and making pay.
ment in full before July /, 1877, will re.
ceive from the Treasurer Of the United
States an interest check covering the pc.
riod from the date Of such payment to
the date OF the bond, July |, 1915. The
Comptroller OF the Currency has issued a
circular TO national banks in reference
to the new four per cent loan. He says
i is the condition Of the contract that the
loan should be offered for reasonable pc.
riod 10 the people Of the United States At
par, and the circular accordingly invites
subscriptions at par until July l6,
prox, with the privilege Of payment for 8
months thereafter. II is understood that
the loan will be offered in Europe Us we'll
MS here, and the associates may advance
the price after that date. 1t remains,
therefore, to be seen to what extent the
privilege Of purchase thus received will
be ayAiled of, and the expectations and de-
pire is general that American subscrip.
tions shall be as large as possible. Sub
Scriptions by people outside OF American
cities, will be paid largely in currency,
while the bonds, by law can, be sold only
for gold. 1t is obvious that the banks
must generally be employed by the
public, either for the purchase Of
gold or for remitting currency to the
associates in New York for that purpose.
The bonds are dated July lst and bear
interest from that date, but where sub.
scriptions made during the present month
are paid in full, interest for the period
from date Of subscription to date Of bond
will be remitted in check by the Treasu.
rer of the United States. The bonds will
be ready for delivery July ID. Payments
made after July lst will be charged with
accrued interest at per cent from date
VI OOhun uH W VIC uhLc VI buCIl payment
at the current premium Of gold, and the
present bonds will be sold at lower'price
than any other issue, while as they mature
only after 30 years they are more desi.
rable from their permauence than bonds
bearing higher rates Of interest whose net
returns on the amount invested will be
found 10 be but slightly if at all higher
than the income from the new issue.
National banks who may desire to ex.
change bonds now on deposit with the
Treasurer, or who propose 10 increase
their circulation, can aavail themselves
Of the opportunity to subscribe for these
bonds until July 10th, paying for the
same Mt any time within three months
thereafter.
The National Banks, concludes the
Comptroller, have always heretofore met
the financial exigencies Of the Govern
ment with the essential assistance which
they were able to afford, and it is believ.
ed that they will heartily Join with the
Secretary Of the Treasury in reducing the
public burdens and giving unity and sim.
plicity to the system OF the National
finances.