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The Daily Dispatch: August 20, 1861., [Electronic resource], The Federal Government loan. (search)
were represented, the following plan for assisting the United States Government was adopted: section 1. an immediate issue be made by the United States Treasury Department of Treasury notes, dated August 15, 1861, bearing interest from that date 7.30 per cent., to the extent of fifty millions of dollars. Sec. 2. the banks of New York, Boston and Philadelphia associated to take jointly this fifty millions at par, with the privilege of taking at par an additional fifty millions October 15, by giving their decision to the Department October 1; and also at par fifty millions December 15, by giving their decision December 1, unless said amount shall have been previously subscribed as a national loan. It being understood and agreed that no other Government stocks, bonds or Treasury notes (except Treasury notes payable on demand and the Oregon war loan) shall be negotiated or paid out by the Government until February 1, 1862, should the associates avail of both privileges, or u