3. When the interest is payable. | 7. When the Loan is re-payable - thus "1919 or 1944."
4. When ex interest. | 8. The price for every £100 of stock.


Colonial Government Bonds, the other form
of investment, are paper or parchment docu-
ments, on which are printed all details of the par-
ticular loan taken up by the Colony, the nature
of the Security the lender has in advancing
his money, the rate of interest, and when and
how the principal is to be repaid. These
bonds are payable to bearer, and pass from
hand to hand without any formal transfer, so
that as much care is necessary in safe-keeping
them, as with bank-notes. Attached to these
bonds are little coupons or slips of paper, each
one representing a half or quarter year's in-
terest, from the date of purchase to the time
when the principal is to be paid off. The
coupon bears the name of the bank or agency
where it may be cashed, and any banker will
negotiate it. Of course, only the coupon for the
interest actually due on the date indicated on
the face must be cut off.


FOREIGN GOVERNMENT STOCKS.

These represent money borrowed by various
foreign countries on the security of their credit or