Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-06-21
THE FOUR PER CENTS.
Circular From the Secretary of the Treas
ury to the Public at Large--Safe Invest
ments for the People.

Circular From the Secretary of the Treas
ments for the People.
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 depart
ment in denominations for coupon
bonds of ESQ., 300, $500 and $1,000 and for
registered bonds of $50, 300, $500, $1,000,
$4,000, and $4,000 at par and accrued
interest to date of subscription in coin. The
bonds are redeemable July LIST, 1907, and bear
interest payable quarterly on the first Of Janu-
airy, April. July and October of each year. and
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
ments the bond will be transmitted free Of
charge to subscribers, and commission of one
fourth of one per cent. will be allowed upon
the amount of the subscription. Commissions
will be paid by check only, and will not be APP
piled in payment of subscriptions. All national
banks are now invited to become financial
agents of the government and depositaries of
public monies received on sale of these bonds.
Upon complying with section 9,153, revised
statutes of the United States. all banks, bank
ers and persons are invited to aid in placing
these bonds, and can make their arrangements
through national banks for the deposit of the
purchase money Of bonds. The proceeds of
the sale of these bonds will, until further
notice, be only used in the redemption of $40
| six per cent. bonds of the United States under
the refunding act. As the four
per cent. bonds are paid for by
certificates of deposit of such
public depositaries or otherwise, a call will
issue maturing within 80 days for the resump-
- IL, -,
ceived for four per cent. bonds will remain on
deposit until such call natures. Payment
for bonds may be made in
coin, coin certificates of de-
posit of government repositories, called
bonds, coupons maturing within thirty days,
or in currency drafts ON New York in favor of
the secretary of the treasury. which will be re-
ceived at the coin value thereof at the national
bank of commerce, New York Any
payment in excess will be returned
with the commission. All coin and currency
drafts on New York should be forwarded
directly to the department by the subscribers
or their agents. The circular continues: 1.-THE
favorable state of the money market induces
the secretary to press upon the people this
loan by which they can obtain direct from the
government q national bond of the
highest credit and sanction, exempt
from taxes and payable, principal
and interest, in coin. Every citizen of the
United States is interested in the success of
this loan, as every sale of these bonds enables
the government TO save one-third of the inter-
est on an equal amount of outstanding debt to
| be redeemed. These bonds should be the store
house for the savings of the people. No facility
or advantage will be given to large subscribers.
1t is the interest of the public that the bonds
be distributed in small sums among the
largest number of our fellow citizens. Sub
scriptions to an amount equal to the bonds
| now redeemable would make an
| annual saving of %, 961, 632.
and such subscriptions can now be, made with
out Withdrawing from circulation any of the
money Of the people. All blanks or forms or
| information needed will be furnished by the
| department without cost"