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Our National Securities

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Tbe " Seventhirtie"1 represent a cur reLcy loan, baving three years to ruD then convertible iato a gold interest six per cent stock, having tweoty yoars to iud, but with the right reserved to tbe government oí payiog off the loan, in gold, at any time after five yearg. The term " Seven-thirties" ia derived frotu the rate of interest whioh these three years convertible notes bear, to-wit two cents per day on each $100, or for tbree hundred and sixty-five days seven üoiiar3 and thirty cents on eaoh $100. Tbe term " Fivt-tteentm" is appliec to the bíx per cent. gold hearing bonda of the United States, to whieh twenty Jears halfyearly coupons aro attached but whioh may be paid off, in gold, by the government, on due notice to the holders, at any time after n've years, in the not improbable event tne governinen ahould be oö'ered the money on a new loan at a oheaper rate than eix per cent The term " Ten-foriieti" is applied to the -five per cent. gold-bearing bonda oí the United States, to which half-yearly coapoDs are attached for forty years tiut whíoh muy be paid ofF in gold, on totice to the holdero, at any timo after ten years, in tho posaiblü event the gov eminent stould be olfcred the money on a new loan at a lusa rato of interest than five per cent. The long or uucoüditional six per cent. gold-boaring loau, known as the siï per cent. of 181, oaunot be redeem ed by the government at all, except by purchase, until after tbo year 1881 inaking this tbe must deeirabló of al tUe United States loans aa a permanen invostinent. Tbe present outstandiog totals ol eacl of tbo above loana are as follows : 1-Seven-Thirtiee $600,000,00 2- Five-Twenties 506,545,90 3- Ten-Forties 172,770,10 4- Sixes of Eigbly-one 281,561,40 Total $1,650,877,40 Interest in Cnrrency on $600,000,000 Iut'st iu öoldou I,050,e77)400-$l,(i50,877,40 In addition to the gold interest stook liero clasBifiod, there is outstanding $18, 8G8,891 of the otd funded five aud six por cents ot tho United tótates, upoi whioh the interest is paid in gold, urn the principal of wbich will be redeemec in gold when due. Tbe terms " Greenbacks" and " Legal leader" are convertible. All the green baek are tegal-touder ; but $43i},10U, 5S9 ure ol the ordinary circulatiou, fre oí inturast, and pajable on the mutunty of tho notes, most of thein six per cents payuLle thresÉyeara after 1854, tlie iu terest compouudod in a table on th back of thu. note every six iiiontbs. - jV'iio Yoi-k Times, May '20th. An order bas beeq ÏKüiied by the Wa Pepartmunt (uyjecting to the puuitli ment of death all persons east of th Mis-Ns!"" rivef, wlio inay be fouud in tirtua ;igaD8t th Uoiied Statoe aftt-r tb lsl d:iy of Juno oext,


Old News
Michigan Argus