The farmers' union., 1894-02-15

these dollars. and the gOId which has
been spent in this way by Uncle Sam
would gild the great departments of
Washington and leave, enough to make
a solid gold statute as large as that of
the Goddess of Liberty which stands on
the Capitol dome. Fifty years ago if a
Secretary of the Treasury had made
the statement that in half a century
the United States would be borrowing
money at ; per cent. he would have
been looked uEon as a fool and mad
world better to-day than thai of Unc,e
Sam. and it is believed here that >
per cent. bond could be tloated. Every
one wants these bonds. They feel that
their morey is safe and that this $780,
0Oo,OOO in bonds is surer than safe de-
pOsits of stocking under the rafters.
Have you ever seen a Government
bond: 1t il only IA piece of paper. but
it is often wcrth its weight in diamonds.
The bonds Of the present issue are in
denominations of $50, $lN, $1,000.
and $4,000. The bends are of
the same size and the difference is
shown by the figures on their faces.
These bonds run for ten years and
they bring in ) per cent. interest.
\ ..lusb, Commodity.
The new bonds are of two kinds.
One class is of regi>t red bonds and the
other coupon bond. The coupon bonds
are lavablc to bearer and to them a .
fastened Il number of detachable cou-
pom, aoout the size of an old lG-cent
shinplaster. The interest is payable
quarterly. an every three months you
clip OIL. these coupons and ca h them at
the Treasury of the Unit ID States or
at the banks Any bank in the un-,y
knows just what they are worth and
will pay you the interest on them. You
can use the coupons and the bonds in
business deals and their value is so
well fixed that they could almost pass
as money. The chief DANGER is that no
Identification will be asked at the bank
by the man who present. it.
As to the registered bonds. these are
Of Il somewhat different nature. They
have no coupons and are payable to the
person whose name is written on the
bond. In the office OF the register of
the treasury at Washington there is Il
record kept Of the men who hold these
bonds. and about wagon load Of
ledgcrs and journals are devoted to
this purpose alcne. As soon as a
bond is sold an account is opened with
tuc tCISs IL W AO ouNS IL bctNttu ii III
and the government and in this is
stated the amount he paid for the bond
and the rate of interest. Every three
m ,nths the clerks go through the
books and make out set of accounts.
They notify the Treasurer of the
United States to pay all the interest
due to the persons who hold these
bords. and this money is 70 .warded to
them in the shape of a treasury draft
As soon as the bond is redeemed the
account is closed. The. registered
bends are the safest in> stnents known
to the United States. and rich men pat
large sums of money into them. Van
aerbilt once owned s45.OOO,oN Of these
registered bonds.
The largest denominations of bonds
now outstanding are those of $50. GOO
The fortunate possessor of one of these
draws $500 interest every year and
his original investment has Increased
in value about 5000. This denonina-
of bond is held by trust companie, and
millionaircs. There are Il great MANY
bonds outstanding of the denominati II