Democratic Sentinel, Volume 18, Number 2, Rensselaer, Jasper County, 26 January 1894 — BONDS TO BE ISSUED. [ARTICLE+ILLUSTRATION]

BONDS TO BE ISSUED.

SECRETARY CARLISLE CALLS FOR PROPOSALS. The Total la •50,000,000 and the Securities Will Bear Interest at the Bate of Five Per Cent, Redeemable In Ten Years —ln Denominations of 150 and Upward. Must Be at a Premium. The lonjr-delayed but inevitable recognition by the Treasury Department of the necessity for an issue of bonds to meet the demands of the government and to maintain its credit at home and abroad wai made when Secretary Carlisle issued a circular inviting proposals for $50,C03,Q00 of 5 per cent, bonds, redeemable at the pleasure of the United States after ten years, and to be issued in den-minaticns of SSO and upwards. The 5 per cent, bonis were finally preferred to either the4* ortho 4 per cent, bonds because of the possibility of redeeming them at maturity and the convenient control over them given the government in ease it might be desired to continue them at a lower

rate when the ten years had expired. The following is the text of the circular: By virtue of the authority contained in the act entitled “An Act to Provide for the Resumption of Specie Payments," approved Jan. 14. i»75, the Secretary of the Treasury hereby offers for public subscription an issue of bonds of the United States to the amount of $50,000,Doo in either registered or coupon form, in denominations of S6O and upward, redeemable in coin at the pleasure of the Govermne. t after ten years from the date of their issue and bearing interest payable quarterly in coin at the rate of r> per cent, per annum. Proposals for the whole or any part of these bonds will be received at the Treasury Department, office of the Secretary, until 12 o'clock uoon, on the first day of February. 1804. Proposals should state the amount of bonds desired, whether registered or coupon, and the premium which the subscriber proposes to pay, the place where it is desired that the bonds shall be delivered, and the office, whether that of the Treasurer of the United States or an assistant Treasurer of the United States, where It will be most convenient for the subscriber to deposit the amount of his subscription. Failure to specify the above particulars may cause the proposal to be rejected. As soon as practicable, after the first day of February, 18U4. the allotment of bonds will be made to the highest bidders therefor, but no proposal will be considered at a lower price than 117.223, which is the equivalent of a 3 per Pent, bond at par, and the right to reject any and all proposals is hereby expressly reserved. In case the bids entitled to allotment exe-ed the bonds to be issued, they will be allotted pro rata. Notices of the date of delivery of the bonds will be sent to the subscribers to whom allotments are made as soon as practicable, and within ten days from the date of such notice subscriptions must be paid in United States gold coin to the Treasurer or such assistant treasurer of the United States as the subscriber has designated, and if not so paid the proposal may be rejected. The bonds will be dated Feb. 1, 1894, and when payment is made therefor, as above, accrued interest on both principal and premium from Feb. 1, 1894, to date of i ayment at the rate of interest realized to the subscriber on his investment will be added. All proposals should be addressed to the Secretary of the Treasury, Washington, D. C., and should be distinctly marked "proposals for subscriptions to 5 per cent, bonds.” J. G. Cari.isi,®. Secretary. Secretary Carlisle's announcement that no proposal will be considered at a lower rate than 117,233 will make the bonds pay :5 per cent, on the investment during the time they run. The premium is lower by a fraction of a c -nt, than on the fifteen-year bonds at 44 per cent, or the thirty-year bonds at 4 per cent., reduced to a II per cent,, basis. The pi-ice of the 41s for fifteen years, with semi-annual payments of intarest, would be 118.01, and of the 4 per cents for thirty years, 119.09. The present call for $50,000,000 will increase the Treasury balan e, with the premium, by about $59,000,000 and make the total $143,000,000.

SECRETARY J. G. CARLISLE.