W2224 TO ISAAC BALDWIN MCQUESTEN From H. Hobson.
Jan 8 1865
To: Isaac McQuesten
From: Nashua New Hampshire
My Friend Isaac,
Josephine says you wish to know the meaning of the U.S 5-20$ 10-40$ and 73/10 Bonds-and presuming I am posted in those matters she wishes me to measure your revenue. The 73/10 Bonds were payable in three years and being 73/100 or $7.30 per year or $100 it being just 2 cts per day interest & principal payable in Gold-
Next came the 5-20$, these are payable in five years, or 20 years, of interest with government, and bear six per ct interest, municipal and interest payable in gold.
Next came the 10-40$ These are payable in 10 years or forty years, after with government, and hear five per ct int. principal & interest payable in gold.
Next came 73/10 Bonds, payable in 3 years & First & principal payable in currency.
We also have what is called legal tender Currency. Bills of different denominations bearing interest at five per ct, payable in currency in one and two years. Also another Clafs [sic] payable in three years bearing six per ct., compound interest every six months, but payable only when the bill is paid at the end of three years. The two last named are paper as currency, and legal tender for the face of the Bill, without interest. I have explained as well as I can.
Yours truly, H. Hobson
1 This letter is part of letter W2220, from Josie Hobson to Isaac McQuesten.