The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-12-10

tons Of the three cities, responding TO his
invitation met him for consultation in New
Wi ond of,er mi conserenco aeroe1 - NIL,
ioih' a'''' ''0i - Nooie" "ei0ou W "'i''o
rs associates III moheyed support TO the govern
ment, aud to subscribe at once loan Of Fifty
millions ~ douars or which e,,o ,;I,;one ,yoro ~
" Pa'u ni'euiaeeiy w Ihe hssis,'hIi reaeureIs IN
Sot, "'lu 'iie ioSuu,, uso III com - Hee"eu ior
m9Dursement. The secretary, on his part agreed
70 ISSUE lhree years '.aO bones or treasury hoLes,
Tearing even GAZE WIN the subscription, ana 81
sIuai amount 10 cause DOCKS OF subscription 10 the
Naaonai Loan 10 DC Immediately opened 70 rem
purse Inc advances OF the banks, ms far as prGcu
iivet to them 100 bonds or Treasury notes Tor the
amount not thus reimbursed. II was further TN
defsto6d that the Secretary vi tie Treasury should
Issue limited amount 81 United states notes. pay
able on demand, IN ad Of the operations u tho
Treasury and that the associated institutions when
the hrst advance OF htiy millions should be ex
pended, would, il practicable, make another, and
when tina, should be exhausted, still another ad-
vance 10 Lbe government OF the same amount, and
Oh similar terms.
Vic objects u this arrangement were tlst TO
place nj the command of tie pogernUCAt The barge
sums Immediately needed Tor the payment 81 ms.
turing Treasury notes, and TOY other Disbursements
ordinary and extraordinary: t2d) TO secure to tho
people equal opportunity NTH The bai,s Cor rer-
ticipation in Tie ioan: (3d) to avoie composition
betw zen the government and tho associatea insli-
tutuns in the disposal Of bonds; (,tl) 10 lae utte
and secure further advances to tls ca. cr.t e, INV
the associates If rcarired and t5tlD IL nsu.o, /,
possible ihe maint gnroca. az uayIrtnfs H. .rpsta
on its actual equivalents and repicsentgiiytl
Mi these objects were hnup1iy arc0Hil5l,a hnd
Fifty mitIions of dollars wore ieJitciy nd thnc
by the banks Taa Secretary caused books q, sui
scription 10 be oucned thfout hDut tho coanlry
aui the people subscribed neeiy IL tlc loan. Itc
amounts thus subscribed were r. tiuIsrsed 10 MA
banks and the sum Reimbursed lAeuVh irca
covering but little more t.ar halt lhc arennf
enabled those institutions Uhc, 4 second iu4n ,,.ag
required TO make Il second advance 81 . G6UGtG.
qHs TWO Loans NEGOTIATED AZ oo2G hNn Arr6E.
Thus two loans Of $50. 009, rG3 eac,. have been
negotiated for three wears 1850 bonds III fftf YEe
Grst Of these loans WAS aeeogatta, ana tie atss
issue Of bonds bears tlqte on tl,r 1914 III Aua,st
the second on the lsi pl October. 1861
THE TERMS or TIE THIRD LOAN ALso NIGprI ,r,4p
AZ popg.
Oh the lCth OF NoyciYber third loan was neeo.
tated with The associated inSt. tutiots uulCr HE
authority piycn Ia tho gccretury Ia lofTow ! siIrn
no. exceeding one hundred 81 III 3ns III Ea!gope III
the United states at q rale Of iuier. II rot exceed
ing seven per cent As no reasonable prosaect
appeared of obtaining terms equally aGyaltaotaus
hY advertisements an,, as /; was nagicstlv lnr the
interest Of The Government H. upooligtc "a hoiee
rather than incur the expense ana hazard al pego.
tioion abroad lbe S,cfrtary rpaar 49, n,,lhn,.ty