Rensselaer Republican, Volume 19, Number 11, Rensselaer, Jasper County, 18 November 1886 — INTEREST IN ADVANCE. [ARTICLE]

INTEREST IN ADVANCE.

States Treasury Offering to Prepay Interest on Bonds Without Ke- - bate, ; ; [Washin;ton dispatch.] The Secretary of the Treasury has issued the following circular in regard to prepayment of interest on the public debt: “By virtue of the authority conferred by law upon the Secretary of the. Treasury, notice is hereby given that the interest due December 1, 1886, on United State's coupon bonds of the funded loan of 1801 will be paid without rebate on the presentation of the jyjoper coupons at the Treasury in treasuries. The checks for registered interest of that loan will be forwarded to holders as soon as prepared, and may be presented for payment without rebate.on or about the 20th inst. Coupons of the 4-per-cent, consols of 1907, falling due January 1, 1887, will be paid on presentation before maturity upon a rebate of interest nt the rate of 3 per cent, per annum. The interest on registered stock of that loan will also be paid on and after Dec. 1, 1886, upon receipt from the Treasurer of the United States ot application, accompanied by power of attorney authorizing that officer to collect the interest for the quarter ending Dec. 31,1886, and to retain the pro- f portionate amount of rebate, remitting balance to applicant.” Treasurer Jordan said to a reporter that the effect of the offer to prepay interest “on the public debt would be to distribute almost immediately about $10,000,01)0 among about two thousand banks and individuals in every section of the country, and would, in his opiuion, be of great advantage in the moving of crops and in other branches of business. The Secre- » tary’s action, said he, was entirely for the benefit of business interests.