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Internal War Loans Belligerent Countries

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Taxation—Payment of principal and interest is forever free<br />

from the tax on revenue from money capital.<br />

Collateral Privilege—These bonds are accepted at prices fixed<br />

semi-annually by the Minister of Finance and published<br />

by the Government, as deposits pledged against (i) Government<br />

contracts and deliveries, (2) excise payable in installments<br />

and (3) customs duties.<br />

Bonds of this loan accepted at the State Bank, its<br />

branches and offices, treasuries and many other banks, as<br />

collateral for loans up to 88% of their par value at 5^% discount<br />

until January 14, 1918.<br />

57

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