Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1861-09-13
The Popular Loan-The Banks and the
People.


People.
From numerous inquiries addressed to ind-
vidual members OF the treasury note commit
tee it is apparent that many OF our fellow cit
liens do not rightly apprehend the nature or
conditions of the national loan of fifty millions
and That many who understand these points
are not aware of the importance to the govern.
ment that this loan should be thoroughly dis.
trbnted among the people.
Some persons suppose that they must send
their funds to Washington, in order that they
may obtain treasury notes; others imagine
they must take their bag Of gold to the assist.
ant treasurer's Office, and there patiently wait
their turn before they can obtain any portion,
however small, OF the loan.
1t should therefore be known, that any per-
son may obtain amy amount from nifty dollars
to five thousand, by paying the money to any
bank in Boston, or through any bank in New
England which will remit the monej to bank
in Boston, and obtain the treasury notes, or
by paying the money TO the assistant treasurer
in Boston. Interest at the rate OF one cent per
day Tor each fifty dollars, from the 18Th Au-
gust to the day OF payment, is to be prepaid,
and the treasury notes will bear interest from
10Th August thus securing interest to each
deposition from the moment Of his subscription
Receipts will be given by the treasurer, or the
banks till the treasury Totes are forwarded
aud these receipts will bear interest.
Thus much as to the conditions o. this loan ;
but far more important topic is that which
relates to the thorough distribution of this
loan among the people.
Alter the lucid and forcble appeal of the
secretary of the treasury, it would seem as if
nothing additional could be needed. Such,
however, is not the fact
In order for the vigorous and successful
prosecution of the war, it is admitted on all
hands that the government must be promptly
aud amply supplied with men and money.
Nothing is more encouraging to those who
have engaged in raising and equipping reg
| iments than to see that the funds are
furnished and placed at the disposal of gov
| ernmeut.
A,1 ,,rhn arn not concerned in the results of
this war! Better ask, who are not What
man, or woman, or child, has not Il direct in
terest at stake What property, real or per-
sonai, is of value except as it is protected and
fostered by government? And is not every
interest, as well as every individual, depend
ent for security and prosperity, if not for actu-
al existence, upon the maintaining, defending,
and unfolding this government and these in
situations, under which We have SO long pros
pered
When this loan was proposed to the public,
the men of wealth in our large communities
seemed to be ready TO respond at once to the
call, and expressed themselves ready to do
their part in furnishing the money required by
the government. But the eXigency was press
ing, and the secretary Of the treasury felt the
necessity OF making immediate provision Tor
the urgent wants OF his department. and there.
fore made an arrangement with the banks, alb
solute so far as .fJly millions are concerned
but conditional, SO lar as the further sum of
one hundred millions are concerned.
The banks are meeting their engagements
and furnishing the fifty millions with no prac
teal Inconvenience to themselves or the mer-
camille communicated if no more money
was requisite, no difficulty would be expert
| enced; ON the contrary, the banks would be
| glad to hold large portion of the loan at the
| present time, when commercial paper is very
scarce, and the Legitimate wants OF the bust
ness community very limited.
| But loho is 10 furnish The neat titiy millions
Are the banks expected 10 do SO! Ii they
are, the men of means, large and small, must
take and pay tor the first fifty millions during
| the present month or early i'll October, other
wise it cannot be accomplished
There is no lack OF means. The Money is
on deposit and can be drawn at pleasure, or if
| invested, the Investment can be changed, or
money can be borrowed upon these notes
readily at ninety cents ON the dollar, and
| should we not be willing to use our credit that
we may save our government, our country
| and oul property!
! The undersigned, therefore, appeal with COLI
idence to the community to come forward at
once, and by assuming the fifty millions which
the banks have taken (ony ten millions for
tins vicinity enable the banks at once to en-.
gage to furnish the next fifty millions to the
| government.
This is our appeal