U. S. BONDS. 



Interest is calculated on U. S. bonds and on the public 

 debt at 365 days to the year, and is due semi-annually. In 

 England interest is calculated in the same way, and the 

 legal rate is 5 per cent. 



By Five-Twenties is meant the 6 per cent, gold-bearing 

 bonds of the United States, which are to mature in 20 years, 

 but which the Government, by giving due notice, can pay 

 in gold any time after five years from the date of issue. 



The old five-twenties were the first issued. They bear 

 date May 1, 1862, and are redeemable after May 1, 1867, 

 and payable May 1, 1882. The new "five-twenties" were 

 issued Nov. 1, 1864, July 1, 1865, and Nov. 1, 1865. 



By Ten-Forties is meant the 5 per cent, gold-bearing bonds 

 which are to mature in 40 years, but which may be paid by 

 the Government at any time after 10 years. 



By Seven-Thirties is meant a currency loan, which ma- 

 tures in 3 years, at which time they may be changed for the 

 five-twenty 7 per cent, bonds, bearing interest in gold. The 

 name is derived from the rate of interest, it being 7.3 per 

 cent. The "First series" bear date Aug. 15,1864. The 

 " Second series " bear date June 15, 1865, and are converti- 

 ble June 15, 1868. The " Third series " bear date July 5, 

 1865. On this issue the Government reserves the right to 



