Pomeroy weekly telegraph. [volume] (Pomeroy, Meigs County, Ohio) 1860-1866, 1861-09-13

Fthe national loan has just been issued
by Secretary Chase:
ssYour national Government, COM
PEELED by a guilty conspiracy, culmina-
ting in causeless insurrection, is en-
gagged ina var for the security and lib
ferty, for the supremacy of the law, for
the defense of the Union, and for the
maintenance Of popular in stitutons-
For the means to dclray the necessary
expenses Of this war your Congress has
directed that an appeal be made to you,
by opening a subscription to national
loan Of one hundred and fifty millions of
dollars. 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 interest by a subscription
Of 50,000,000. Congress, under which
this subscription was received. wisely
provided, however, that the advantages
as we'll as the patriotic satisfaction of a
participation in this loan shall be of
cred not to the capitalitts of the great
cities .ouly, but to the people Of the
HhoIS COulltl HI VlhCl W SGCulC q
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 Government
Congress has directed that an interest
of 3-10ths per cent. be paid on the
several amounts subscribed, and inter
est not liable to State taxation, but con-
stituting for subscribers a revenue not
| only certain in receipt, but greater in
amount than can be expected from any
ordinary investment.
"Aud in order to afford all citizens
equal opportunities of participation In
these advantages, Congress has further
directed that subscriptions be received
for sums as small as $50, as well as for
large amounts, and that should the sub
scriptions exceed the whole sum de-
sired, the smaller be preferred in its
distribution. Each subscriber, on pay
ment of his subscription will be entitled
to receive Treasury notes, equal in
amount in such denominations as he
may prefer, whether of $50, s1O0,
$500, 81, 900 or $1,000. The interest
at 3-l0ths per annum will be on the
notes Of $50 one cent, on 500 two cents,
on $500 ten cents, on 81 900 twenty
cents, aud on $4,000 one dollar each
day. All the Treasury notes issued
will bear date on the 18th of August,
1861, and will carry interests from that
date. Each note will have coupons at
tached, expressing the several amounts
of semi-annual 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 the
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 the 18th of August
Ito the date of payment must also be
paid, and the amounts Of interest thus
paid will be reimbursed in the payment
Of the first coupon. In order to secure,
beyond peradventure, the punctual pay
] mentsof the interest, and the gradual
reduction of the principal, Congress has
provided by law for an annual revenue,
amply sufficient, not only for these pur-
poses, but for the prompt payment of
all demands ON account of extraordi-
nary expenditures.
at will be seen at a glance that not
only Is the whole property OF the coun-
try pledged for the interest and final re,
endorsement of the loan, but that an
adequate and specific proportion of the
:. annual production is set apart by taxa.
'tion for the redemption of this pledge
Prompt payment beyond contingency
is thus insured. Nor can this taxation
be thought great when compared with
the magnitude of the objects of the con
test or with the amount Of property anc
production.
The objects are Union. Permanen
peace and security at home and respec
abroad, are imperiled in this unpro
voked rebellion. The intelligence o
the people comprehends at once thei
magnitude. They rise above party
they belong to no Notwithstanding
concern the whole country during al
time, under every administration, ane
in every relation foreign and domestic
And the means for the attainment o
these great objects can be readily sup
piled from the property and pro
ductions of the country.- The real ant
personal values in the United States
reach the vast aggregate ofs16,000, 900,
600, and in the Statss now loyal to th'
Union this aggregate is s1l; 100000
900.
"The yearly surplus earnings of tn
loyal people are estimated by intelligen
persons convcrsant with such investiga
tions at more than 100000, 900, Will,
the we'll considered judgment of military
me1 of the highest rank and repute
warrant the confident expectation that i
the war is prosecuted with energy, cour
age and skill, it may be brought to
termination before the close of the mex
spring, in which event the cost beyont
, the revenue will hardly exceed th'
$3.50, 900, ,0Ge,lo authorized by Con
gress, and with due economy in al
branches of the public service, not more
than the total expenditures of Grea
Britain or France in years of peace.
"And it is not unreasonable to hop,
that the auspicious result Of peace ma,
be fastened by the reflection of thu
citizens of the States in insurrection--
that they will review their action, weigl
their own welfare, consider the disposi
tion Of the people Of the whole eountr,
to recognize all their constitutions
,, rights, and to allow them their full
share in the benefits of the commol
) government, and renew their allegianc
to the Union which, in an evil hour
, they have been tempted to throw off