Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1879-04-03


day last. the frst Of April. capitalists
Of the len dollar class viii enjoy the
privilege, hitherto monopolIzed by their
mere wealthy neighbors. Of purchasing
government securities. In accordance
with the provisions Of the act Of Goa
gress, approved Feb. 26th, 10. The Sec
rotary Of the Treasury commenced on
Tuesday last The issue ofthe ten dollar
registered bonds, bearing 4 per cent.
interest.
According TO the circular Of the Sec
rotary leach certificate will be Of the
denomination Of Q 10: wall be made near
~ Of the form and size Of q United
States note, and s.ill be registered on
the books Of the Treasury in the name
Of the owner, which name will also be
entered on The face Of the certificate
II will be negotiable only upon assign
ment. Such certificates will be sold
for lawful money, at par, and aceruing
inieres. 10 the date Of purchase, by the
Treasurer Ct the United States at WASH
ington, who viii also TeccTyr in pay
ment drafts in favor Of himself, drawn
ON New York, which will be collected,
and the excess. ifany, returned by check
10 The depositors. The Treasurer of the
United States will also accept IN pay
ment certificates OF deposit Of any As
'sistant Treasurer OF the United States,
or Of national banks specially designa-
ted to receive deposits on this account,
but the certificates wall not be delivered
in the latter case until the certificate of
deposit issued by the bank has been
paid for by the treasury draft. by q de-
pcsit of like amount Of lawful money
with the treasurer or some assistant
treasurer Of the United States, or until
United States bonds of equal amount
are substituted in their stead. A CON-
mission OF one-eighth Of one per cent.
will be allowed on subscriptions for
the certificates, provided such sub
scriptions by the party claiming the
commission shall aggregate not less
than ZOO within any one calendar
month, and party purchasing at one
time $1,000 or more Of the ceriifcates
will be entitled 10 receive them free Of
charge for transportation to any point
ON IN established express line. Com
missions will be paid at the department
by check on New York. The certifi-
Gates win be ready for delivery April
!, 1879, at which date they will begin
TO bear interest, which will be payable
upon the conversion Of the certificates
into four per cent. bonds"
No doubt, says an intelligent cotem.
porsfy. there is alarge amount of mon
ey 10 the aggregate. held by people who
are not individually able to buy fifty
dollar bond, and to whom the new Is
sue Of the four-per cents OF the small
denomination ought TO be an attractive
investment. AS to the great benefit to
be derived BY the laboring classes. who
invest their sayingsin these small bonds,
there is no room for doubt or question.
The system has been tried in Great Bril-
tain with The hsppiest results. expe-
Eienee Of its effects for many years bav-
ing made II increasingly popular. The
experiment has been tried IN Canada
with nearly equal success; il has been
tried and become popular in Australia;
itrhas been adopted in halt the Nations
IN Continental Europe. and no country,
which has established system ofindu-
cling every man 10 invest in Govern
ment securities, has found any reason
Cor retreating. There is ground for be-
liesing that system which has worked
20 well elsewhere would be equally
beneficial and satisfactory in the Uni
ted States. The security and conve-
nience Il will bring to the laboring
classes are unquestiona5le. lis neces-
sity Is apparent in the wrecks Of such
multitude Of Savings banks as have COL
lapsed within the last two years. entail
ing great loss and hardship on the most
deserving class Of the community. On
che great point Of safety, IL il impossible
GheE there should be any dispute or
qmeslion. Unless the government itself
shoald heeome bankrupt, the holders Of
. gomeFument bond could never suffer
any aesr. % ever fail 10 negotiate sale
'of aheir bond. when shey needed the
mnn,y. Tee merits ef the system are.
therefore. iecenirstsble 50 far as the Sc
euFity Of The investment is concerned