The Rock Island Argus., 1878-06-21
wAsHIuaron.

WASHINGTON, June 20.-The Secretary
of the Treasury has issued circular calling
attention to the four per cent. funded loan
of the United States now offered by the
department 10 denominations for coupon
bonds of $50, $100, $500, and $1,000 and
for registered bonds of $50. 800, $500,
$1,000, $1,000 and $4,000 at par and
accrued interest to date of subscription in
coin. The bonds are redeemable July l.,
1907. and bear interest payable quarterly
on the first of January, April, July and
October of each year aud are exempt from
payment of taxes or duties to the United
States as well as from taxation in any form
by or under state, municipal or local
authority. Upon full receipt of full pay
ment the bonds will be transmitted free of
charge to subscribers and commission of
one-fourth of one per cent. will be allowed
upon the amount of subscriptions. The
commissions will be paid by check only and
will not be applied in payment oil s1bscrip-
tions. All national banks are now invited
to become financial agents of the govern.
ment and repositories of public moneys,
may receive on sale of these bonds upon
complying with section 9,l53, revised
statutes of the United States. All banks,
bankers and persons are invited to aid iu
placing these bonds, and can make their
arrangements through national banks fol
the deposit of the purchase money of the
bonds, the proceeds of the sale of these
bonds will, until further notice. be only
used iu the redemption of $50 six per
cent bonds of the United States under the
refunding act. As soon as the four pei
cent. bonds are paid for by certificates o
deposit of such depositions or otherwise t;
call will be issued. maturing within ninety
days, for the redemption of six per cent:
and the money received for four per cent
bonds will remain on deposit until sucf
call natures. Certificates of deposit o
government repositories, called bonds
coupons maturing within thirty days or il
currency drafts on New York in favor o
the Secretary of the Treasury will b,
received at the coin value thereof at th,
National Bank of Commerce. New York
Any payment in excess will be returned
rency drafts on New York should b.
forwarded directly to the department by
subscribers or their agents.
The circular continues: The favorable
state of the money market induces tn
secretary to press upon the people tAi
loan, by which they can obtain direct from
the government a national bond of tn
highest credit aud sanction, exempt from
taxes. and payable, principal and interest
in coin. Every citizen of the United State
is interested in the success of this loan, a
every sale of these bonds enables the gov
erDment to save oue-third OF the iuteres
on an equal amount of outstanding debt t
be redeemed These bonds should be tn
storehouse for the savings of the people
No facility or advantage will be given t
large subscribers. 1t is the interest of th
public that the bonds be distributed i
small sums among the largest number c
our fellow citizens.
In the sundry civil bill, as reported fror
the conference last sight, there was a sec
ton providing for continuance of the He
Springs commission, which was created i
1877 to appraise aud sell the valuabI
government reservation which embrace
those springs in Arkansas. The surprisin
= discovery is made to-day that this sectiO
was almost entirely omitted in the enrol
ment of the bill 10 the Office of the clerk {
the house for the presidents signature
The only portion of the section enroIie
was the last half Of its last sentence, whic
t was attached to section concerning a
entirely different subject Its omiSsio
, wholly defeats the object of the sectio
r and the operations of the Hot Spring
I commission will have to be suspende
D, until congress ca again act upon the SUI
ject. Meanwhile the present occupants
. the e,ervatiOn will remain uudisturbe2
e their possession. Very large pecunial
0 interests are iUv1lved
e The secretary of the treasury to d;
called in $5,n00,O00 five-twenties Of IS6