The Daily Dispatch: June 26, 1863., [Electronic resource]

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New Loan.

The Secretary of the Treasury is about to issue twenty year bonds, under the act of Congress of 30th April last, which authorizes an issue of $250,000,000 in bonds, bearing an interest of 6 per cent, payable annually on the 1st of June, in gold, or in cotton of the quality known as New Orleans middling, at six pence sterling per pound. The said cotton to be delivered at the pleasure of the Secretary, at either of the ports of New Orleans, Savannah, Charleston, Mobile, Wilmington, Richmond, or Norfolk. The present premium on gold is such that cotton will undoubtedly be elected by the Secretary as the article in which to pay the interest. The interest upon a thousand dollar bond, at 6 per cent., will be $60, to pay which in cotton at sixpence sterling, or 12 cents, will take nearly a bale of cotton, worth now three times that price. These bonds will, therefore, during the war, pay a high interest, and are likely to command a premium. We find it announced editorially in the Sentinel and Enquirer--we suppose on official authority — that the Secretary of the Treasury is about to open bids for five millions of dollars of these bonds.