The national Republican., 1861-09-02
NATIONAL LOAN.
TO THE CITIZENS OF THE UNITED STATES

| nOoo," 'sIouoeS VI lilo WAT, your COnErCS
has directed that an appeal be made TO you
by opening subscription to a national loan o
one hundred and fifty millions of dollars.
| Already the enlightened and patriotic capi
taiisS Is, OF tle great cities of New York, Boston
| and Philadelphia have manifested their clea,
sense, both Of duty and interest, by the sub
scripti0n If fifty millions of dollars.
| Inc act OF Congress under which this cub
| scriotion was received wisely provides, how
| ever, mat the advantages as well as the patr
QUO sat'siaction of participation in this loan
| shall be offered not to the capitalists of the
great cites only, but TO the people of the whole
country.
In order to secure substantial reward for
.ne,r pubic spirit to those whose patriotism
prompts them, in this hour of trial, to place
| their means at the disposal of the Government,
congress has directed that an interest of Sc yer
| ana threetentts per cCntum be paid on the
several amounts subscribed an interest not
liable to State taxation, but constituting for the
SuoscrlDorsa revenue, not certainly in recent
put creator in amount than Can be expected
from any ordinary investment.
And, u order to afford 10 all citizens equal
opportunities of participation in these advan.
tasoo, Congress has further directed that sub.
sCriptono be received for sums AS small AS
hfty dollarN. as well as for larger amounts; and
that, should the subscriptions exGood the whole
sum desired, the smaller be preferred in The
distribution.
Each subscriber, on payment of his subscrip.
tion, will be entitled TO receive Treasury notes
OF equal amount in such denominations as he
may prefer, whether of fifty, one hundred, five
hundred, one thousand, or five thousand dol.
lars.
The interest, at I $40 per annum will he, on
the notes of fifty dollars, one cent; on one hun.
drod dollars two cents on five hundred dol
lars, ten cents; on one thousand dollars, twenty
cents; and on five thousand dollars, one dollar
each day.
All Treasury notes issued will bear date on
the 10Th OF August, 1861, and will carry interest
from that date. Each note will have coupons
attached expressing the several amounts o,
semi-annual interest; which coupons may be
detached from the note and presented for pay.
ment separately.
Each subscriber may pay the whole amount
subscribed at the time of subscription. or, If he
prefers to do so, may pay onc.tcnth ut that time
and one.third every twentieth day thereafter.
Al each payment the accrued interest on the
amount from tho 10th of August to the date of
payment must also be paid !; and the amounts
Of interest thus paid will he reimbursed in the
payment Of the first coupon.
In order to secure, beyond peradventure the
punc,ual payment of interest and the gradual
reduction CT tho principal, Congress bas pro. |
vidcd by law for an annual revenue amply Suf. |
icicnt not only for these purposes, but for the |
prompt payment Of all demands on account of |
ordinary expenditures.
II will be soon at Il glance that not only is the |
whole property of tho country pledged lor the |
interest aud final reimbursement of this loan
ou' lhtt al iucnudte spccinc proportion OF the |
annual production is set apart, by taxation, for |
the redemption of this pledge. Prompt pay. |
ment, bcyound contingency, is thus ensured.
Nor can this taxation be thought great, when
compared with the magnitude Of the objects of
the contest, or with the amount of property
and production.
The objects are Union, popular Government,
permanent peace, security AT home, respect
abroad; all imperilled by unprovok ed rebellion.
Tho intelligence of the people cOmprehends at
once their magnitude. They rise above party
They belong to no Administration. They con.
Germ the whole country, during all time, under
every Administration, and in every relation
foreign or domestic.
And the means for the attainment of these |
great objects can be readily supplied from the |
property and production Of the country. The |
real and personal values in the United States
reach the vast aggregate of sixteen thousand
millions of dollars; and in the States now loyal
to the Union this aggregate is eleven thousand
millions.
The yearly surplus earnings of the loyal peo
pie are estimated, by intelligent pc sons con. |
vcrsant with such Investigations, At more than |
four hundred millions OF dollars while the well
considered judgments of military men of the |
highest rank and repute warrant confident |
that the war, prosecuted with |
energy, courage, and skill, may be brought to |
4 termination before the close of the next
spring in which event. the cost beyond the |
revenues, will hardly exceed tho amount of the |
Two hundred and fifty millions loan authorized |
by Congress. With due economy IN all branches |
Di tho public service, the total expenditures |
Tor all objects, military, naval, and civil, in
this year of war, need not exceed the ordinary |
OF Great Britain or France in
years Of peace.
And is it unreasonable to hope that the au. |
spioous result of peace may be FASTENED by |
The reflections Of the citizens of tho Statcs in |
nSurrectiOn? That they will review their |
action weigh their own welfare; consider the |
disposition OF the People of the whole country |
to recognize all their constitutional rights and |
10 allow them their full share in the benefits Of
Of the common government, and renew their
allegiance to the Union, which, in an evil hour, |
they have been tempted to throw of? viii
they not reflect that the war, into which the |
Government of the Union has been constrained, |
IS not war for their suhjQsation, but war
Tor National existence, and that an auspicious
result to the Union will benefit as largely tie
states in instruction as tho States which have
remained loyal.
However this may be, the duty olthe National
Government, AS the constitu,ionaly constituted
!gcnt of the people, admits Of 10 question.
The war, made necessary by insurrection,
and reluctantly accepted by the Government,
must be prosecuted with AL possible vigor
until the restoration of the just authority of the
mon snail insure permanent peace.
The samo good Providence, which conducted
'ur fathers through the difficulties and dangers
which bosct the formation Of the Union, has
strengthened our hands for the
work OF its preservation.
Tho crops of the year are ample. Granarios
md barns are everywhere full. The capitalists
# the country come cheeriully forward to
lis ain tho credit Of the Government. Already
ls", even in advance of this appeal men Of all
occupations seek I" share the hunnrS and the
dNnntaScs of the loan. Never, except because
Il the temporary depression caused by the
cbeilIon, and the arrangement of business
ccasioned by II, were the people of the United
states IN better condition 10 sustain il great
Ontest than now.
lndcr these iavoring circumstances and for
hese grand objects, shall, in pursuance Of the
ct OF Congress, cause books of subscription 10
20 opened as speedily as practicable in the sew.
raj cities and principal towns OF tho United
tates, IN order that all citizens who sire to
ubscribe to the loan may have the opportuni
y "i doing so. Meanwhile those who prefer
hdt course can remit any sum which they may
ish to invest IN the loan to the Treasurer Of
he lHled States at Washington, or to either of
ne Assistant TreaSurcrS 1T Boston, New York
or st. Louis, or to the Depustary
Cincinnati, whose certificates will entitle the
oIders TO- Treasury notes on the terms already
'Itrd' Inc patriotism of the people, it is not
o be doubted, will promptly respond to the
bcraI wisdom "fther Representatives.