The Sun.
London, England, 1861-09-17 00:00:00

AMERICA.

LIVERPOOL, SEPT. 15.
The Royal mail steamship Canada has arrived,
With adviees from New York to the 3d, Boston to
the 4th, and telegraphic news from the former port,
via Halifax, to the sth.
The Arabia had arrived out.
The Secretary of the Treasury had issued the fol-
lowing appeal on behalf of the Federal Loan :
a Your National Government, compelled by a
guilty conspiracy culminating in causeless insurrec-
tion is engaged in a war for the security and liberty,
for the supremacy of the law, for the defence of the
Union, and for the maintenance of popular institu-
tions. For the means to defray the necessary ex-
penses of this war your Congress has directed that
an appeal be made to you by opening a subscrip
Pion to a national loan of 150,000,000 dols. Already
the enlightened and patriotic capitalists of the great
cities of New York, Philadelphia, and Boston have
manifested their clear sense both of duty and inte-
rest by a subscription of 50,000,000 dols. Congress,
under which this subscription was received, wisely
larovides however, that the advantages, as well as
ith e patriotic' satisfaction of a participation in this
loan, shall be offered, not to the capitalists of the
great cities only, but to the people of the whole
country. In order to secure a substantial reward for
their public spirit to those whose patriotism prompts
them in this hour of trial to place their means at
the
disposal of the Government, Congress has di-
rected that an interest of 7 3-10ths per cent, be paid
on the several amounts subscribed, an interest not
liable to State taxation, but constituting for sub-
scribers a revenue not only certain in receipt, bat
greater in amount than can be expected from any
ordinary investment. And, in order to afford all
citizens equal opportunities of participation in these
advantages, Congress has further directed that sub-
scriptions be received for sums as small as 50 dole.,
as well as for large amounts, and that should the
subscriptions exceed the sum desired, the smaller be
preferred in its distribution. Each subscriber on pay-
ment of its subscription will be entitled to receive
Treasury notes, equal in amount, in such denomina-
tions as he may prefer, whether of 50, 100, 500,
1,000, or 5,000 dollars. The interest, at 7 3-10ths
per annum will be on the notes of 50 dols , lc.; on
100 dols., 2 c.; on 500 dols., 10c.; on 1,000 dole.,
20c.; and on 5,000 dole. 1 dol. each day. All the
Treasury notes will bear dates on Aug. 19, 1861,
and will carry interest from that date. Each note
will have coupons attached expressing the several
amounts of semiannual interest, which coupons
may be detached from the notes and presented for
payment separately. Each subscriber may pay the
whole amount subscribed at the time of subscription,
or if he prefers to do so, may pay one-tenth at that
time and one-third every twentieth day thereafter.
At each payment the accrued interest on the amount
from Aug. 19 to the date of payment must also be
paid, and the amount of interest thus paid will be
reimbursed in the payment of the first coupon. In
order to secure beyond peradventure the punctual
payment of the interest and the gradual reduction
of the principal, Congress has provided by law for
an annual revenue amply sufficient, not only for
those purposes, but for the prompt payment of all
demands on account of extraordinary expenditures.
It will be seen at a glance that not only is the whole
property of the country pledged for the interest and
final reimbursement of the loan, but that an ade-
quate and specific proportion of the annual produc-
tion is set apart by taxation for the redemption of
this pledge. Prompt payment beyonri a contingency
is thus insured. Nor can this taxation be thought
great when comp ired with the magnitude of the
objects of the contest, or with the amount of pro-
perty and production. The objects are union, per-
manent peace and security at home, and respect
abroad, which are imperilled by this unprovoked
rebellion. The intelligence of the people compre-
hend at once their magnitude. They rise above
party ; they belong to no administration ; they con-
cern the whole country during all time, under every
Administration, and in every relation, both foreign
or domestic. And the means for the attain-
ment of these great objects can be readily
supplied from the prosperity and produc-
tions of the country. The real and personal values
in the United States reach the vast aggregate of
16,000,000,000 dole., and in the States now loyal to
the Union this aggregate is 11,000,000,000 dole.
The yearly surplus earnings of the loyal people are
estimated by intelligent persons conversant with
such investigations at more than 400,000,000 dole.,
while the well-considered judgment of military men
of the highest rank and repute warrant the confi-
dent expectation that if the war is prosecuted with
energy, courage, and skill it may be brought to a
termination before the close of the ensuing spring ;
in which event the cost beyond the revenue will
hardly exceed the amount of the 250,000,000 dole.
loan authorised by Congress, and, with a due eco-
nomy in all branches of the public service, not
more than the total expenditures of Great Britain
or France in years of peace. And it is not nn-
reasonable to hope that the auspicious result of
peace may be hastened by the reflection of the citi-
zens of the States in insurrection that they will re-
• view their action, weigh their own welfare, con-
sider the disposition of the people of the whole
coup try to recognise all their constitutional rights
and to allow them their full share in the benefits
of the common government, and renew their alle-
giance to the Union, which in an evil hour they
have been tempted to throw off. Will they not
reflect that the war into which the Government
has been constrained is not a war for their subjuga-
tion, but a war for national existence, and that an
auspicious result to the Union will benefit as
largely the States in insurrection as the States
which have remained loyal ? However this may
be, the duty of the National Government, as the
constitutionally constituted agent of the people,
admits of no question. The war made necessary
by the insurrection, and reluctantly accepted by
the Government, must be prosecuted with all pos-
sible vigour until the restoration of the just autho-
rity of the Union shall insure permanent peace.
The same good Providence which conducted our
fathers through the difficulties and dangers which
beset the formation of the Union, has graciously
strengthened our hands for the work of its preserva-
tion. The crops of the year are ample; the granaries
and barns are everywhere full. The capitalists of the
country come cheerfully forward to sustain the
credit of the Government; already, and even in
advance of this appeal, men of all occspations seek
t
share the honours and advantages of the loan.
Never, except because of the temporary depression
caused by the rebellion, and the derangement of
business occasioned by it, were the people of the
United States in a better
condition to sustain a
great contest than now. Under these favouring
circumstances and for these grand objects I shall, in
-pursuance of the Act of Congress, cause books of
subscription to be opened as as practicable
in the several cities and principal
i towns of the
United States, in order that all citizens
to subscribe to the loan may have the opportunity
desire
opportunity
of doing so. Meanwhile those who prefer that course
can remit any sum which they may Wish to invest
in the loan to the Treasury of the United States:
Washington, or to either of the Assistant-Tsret alu:6
at Boston, New York, or Philadelphia, or
or to the Depository at Cincinnati, where certifi-
cates will entitle the holders to Treasury notes on
the terms already stated. The patriotism of the
jrople, it is not to be doubted, will promptly re-
epon d to the liberal wisdom of their representatives.
s. F. CHASE, Secretary of the Treasury."
The following is General Butler's report of the
expedition to Cape Hatteras :
" United States' Flagship Minnesota, Aug. 31.
" Gtmcral,—Agreeably to your orders I embarked
on the transport steamers Adelaide and George
Peabody 500 of the 20th R?girnent of New York
Volunteers, Col. Weber commanding : Captain Jar-
dine's company, 9th 1/Pgirrwnt Nt.377 York Volun-
teers, with 100 of the Union Coastguard, Captain
Nixonu Commanding, and 60 of the 2d United States
Aroperatetuie,,..)
Lieut. Lamed commanding, as a force to.
eon.
and of Flag
rafasrrne
.)unction with the fleet under com-
forts te
—t
forts at rlet.Stringham, against the rebel
" We left For
o'clock Pane the alsastMon.roe on Monday at one
off Hatttroa Inlet abo Ship of
our fleet arriving
ut four te
C QC4 acs Tuesday