Democratic Sentinel, Volume 2, Number 20, Rensselaer, Jasper County, 28 June 1878 — THE FOUR-PER-CENTS. [ARTICLE]

THE FOUR-PER-CENTS.

Treasury Department Circular. The Secretary of the Treasury has issued a circular calling attention to the 4 per cent, funded loan of the United States now offered by the department in denominations, for coupon bonds, of SSO, SIOO, SSOO, and SI,OOO, and for registered bonds of SSO, SIOO, SSOO, SI,OOO, $5,000, and SIO,OOO at par and accrued interest to date of subscription in coin. The bonds are redeemable July 1, 1907, and bear interest payable quarterly on the Ist of January, April, July, and October of each year, and are exempt from the payment of taxes or- duties to the United as well as from taxation in any form by or under State, municipal, or local authority. Upon full receipt of full payment, bonds will be transmitted free of charge to subscribers and a commission of one-fourth of 1 per cent, will be allowed upon the amount of subscription. Commissions will be paid by check only, and will not be applied in payment of subscriptions. All national banks are now invited to become financial agents of the Government and depositories of public moneys received on the sale of these, bonds upon complying with section 9; 153, Revised Statutes of the United States. All banks, bankers and persons are invited io aid in placing these bonds, and can make their arrangements through national banks for the deposit of the purchase money of the bonds. The proceeds of the sale of these bonds will, until further notice, be only used in redemption of 5-20 6-per-cent . bonds of the United States under the Refunding act. As soon as the 4-per-cent. bonds are paid for by the certificates of deposit fcf such public depositaries or otherwise, a call will issue maturing within twenty days for the redemption of 6-per-cent, bonds, and the money received for the 4-per-cent, bonds will remain on deposit until such call matures. Payment for the bonds may be made in coin, coin certificates, certificates of deposit of Government depositaries, call bonds, coupons maturing within thirty days, or in currency drafts on New York in favor of the Secretary of the Treasury, which will be received at 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.