It is proposed to enlist the support of various groups of capitalists
and of small property holders and to obtain from them about
2,500,000,000 rubles, ($1,500,000,000.)
Four different loans are contemplated. Persons desiring to invest their
savings at a small but sure interest rate will be able to buy the
certificates at a 5 per cent. loan. These certificates will have a face
value of 100 rubles, and they will sell at $90. The interest rate will
not be changed within the next fifteen or twenty years. Therefore, the
actual interest rate will be 5.56 per cent. on the original investment.
A 6 per cent. loan will cater to those investors who like to place their
loans at shorter terms. The certificates of this loan will be sold at
premiums. Five-year certificates will be sold at ninety-six for a
hundred rubles face value, four-year certificates at ninety-seven,
three-year certificates at ninety-eight, two-year certificates at
ninety-nine, and one-year certificates at par. This loan will be free
from the interest (coupon) tax, but not from the income and inheritance
taxes. In case of success one billion worth of these certificates will
be issued.
For persons interested in the changes of values upon Stock Exchange
different loans will be issued. In the first place, no interest-bearing
ten-ruble certificates with a large number of winners will be issued.
Pages:
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62