Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1894-02-23

these dollars, and the gold which has
been spent in this way by Uncle Sam
would gild the great departments of
Washington and leave enough to make
q solid gold statute as large as that of
the Goddess of Liberty which stands on
the Capitol dome. Fifty years ago if q
Secretary of the Treasury had made
the statement that in half century
the United States would be borrowing
money at 3 per cent. he would have
been looked upon as q fool and q mad
man, but there is no security in the
world better to-day than that of Uncle
Sam, and it is believed here that 2
per cent. bond could be floated. Every
one wants these bonds. They feel that
their money is safe and that this $780,
100000 In bonds is surer than safe de-
poslts of stocking under the rafters.
bond? 1t is only piece of paper, but
it is often worth It's weight in diamonds.
The bonds of the present issue are in
denominations of $50, 800, 81 600,
and $4,000. The bonds ~ of
the same size and the differ ,e is
shown by the figures on thu aces.
These bonds run for ten ye and
they bring in per cent. inte
A Valuable Commodity.
The new bonds are of two kinds.
One class is of registered bonds AND the
other coupon bonds. The coupon bonds
are payable to bearer and to them are
fastened number of detachable cou-
pons about the size of an old lO-cent
shinplaster. The interest is payable
quarterly, and every three months you
clip off these coupons and cash them at
the Treasury Of the United States or
at the banks. Any bank in the country
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
we'll 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 presents it.
AS to the registered bonds, these are
of 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 a
record kept of the men who hold these
bonds, and about q wagon load of
ledgers and journals are devoted to
this purpose alone. AS soon as q
bond Is sold an account is opened with
eAAS PoISoA VIII OuyS ~ U0tWe0u MN
and the government, and in this is
stated the amount he paid for the bond
and the rate of interest. Every three
months the clerks go through the
books and make out q set of accounts.
They notify the Treasurer of the
United States to pay all the interest
due to the persons who hold these
bonds, and this money is forwarded to
them in the shape of . treasury draft.
AS soon as the bond Is redeemed the
account is closed. These registered
bonds are the safest investments known
to the United States, and rich men put
large sums of money into them. Van
derbilt once owned x45, ,OOO, 900 of these
registered bonds.
The largest denominations of bonds
now outstanding are those of $50, 600.
The fortunate possessor of one Of these
draws % 500 interest every year and
his original investment has Increased
In value about d, 900. This denomina-
OF bond is held by trust companies and
millionaires. There are great many
bonds outstanding Of the denomination