The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1861-09-14
Thc National Loan.

IL Lot II.
Appeal to the People Of the United States.
The following patriotic appeal for the
National loan has been issued by Secretrry
Chase to the ctiz Of the United States
Your National Government, compelled by
a guilty conspiracy eliminating in cause
less instruction, is engaged in war for the
security and liberty, for the supremacy of the
law, Tor the defence of the Union and for the
maintenance of popular institutions. For
TIE means to deiray the necessary expenses
of this war, your Congress has directed that
an appeal be made to you ny opening sub
scription TO = National loan Of one hundred
and fifty millions OF dollars.
Already the enlightened and patriotic capt.
taiss Of the great cities Of New York phla.
deIpha. and Boston. have manifested their
clear sense both Of duty and interest by a
subscription Of $50 600, 600. Congress,
under which this subscription was received
wisely provides, hewever, that the advantages
as well as the patriotic satisfaction Of par
tlcpa'ion 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 meansa at the disposal of the Govern
meat, Congress has directed that an interest
OF 5'lOthS per centnm be paid on the sever
al amounts subscribed, an interest not liable
to State taxation, but constituting for sub
scrlhers revenue not only certain IN receipt
but greater in amount than can be expected
from any ordinary investment.
And, in order to afford all citizens equal
, opportunities of participation in these advan.
Ia a., Al.
Scripions be received for sums as small as
500, as well as for large amounts, and that
should the subscriptions exceed the whole
sum desired, the smaller be preferred in its
distribution. Each subscriber, receive Urea
snry notes, equal in amount, in such denomi-
nations as he may prefer, whether of $50,
GloO, $500, $1,000 or $4,000. The interest.
at 3.l0ths per annum vii. be, on the notes
of $50, one cent on Sl00 two cents on $500
ten cents, on $1,000 twenty cents, and on
$4,000 one dollar each day. All the treasury
notes issued will bear dates on the 10Th OF
August, 1851. and will carry interest from
| that date. Each note will have coupons
attached expressing the several amontS Of
semi annual interest, which coupons NAV be
detached from the notes and presented fol
payment separately. Each subscriber may
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 the 10Th of August to the
date of payment must alSo I've paid, and She
amount of interest thus pad will he rem
burscd in the payment of the first coupon.
In order to secure beyond peradvcnlure the
uiln pfIlu1 re lao 1T,
gradual reduction Of the principal, Congress
has provided by law for an annual revenue
amply sufficient not only for these purposes.
but Cor the promut payment of all demands
on account Of extraordinary expenditures.
1t vii. be seen at glance that not only is
the whole property of the country pledged
for the interest and final REIN burscment OF
the loan, but that an adequate and specific
proportion OF the annual production is set
apart by taxation for the retention of this
pledge. Prompt payment beyond ccntin,
gcncy is thus insured. Nor can this taxa.
ton be thought great when compared with
the magnitude OF the objects of the contest
or with the amount of property and oIoduc-
ton.
The objects are Onion, permanent peace
and security at home and respect abroad
which are imperlled by this unprovoked
Rebellion. The intelligence of the people
comprehend at once their magnitude. They
rise above party-they belong to no Admin
lStration-they concern the whole country
during all time, under every Administration
and in every relation, both foreign and domes
tic. And the means for the attainment o.
these great objects can be readily suppliet
| from the prosperity and productions of the
country. The real and personal values in
the United States reach the vast aggregate OF
SIC, OU0 600 600, and in the States now
| loyal to the Union this aggregate is $il ,000,.
Ou0. goo.
The yearly surplus earnings of the loyal
people are estimated by intelligent persons
conversant with such Investigations, at more
than S4O0 GOO 600, while the well considered
judgement Of military men of the hiehes,
rank and repute, warrant the coniiden,
expecta ton that if the war is prosecuted
with energy, courage and skill, it NAV be
brought to termination before the close OF
of the ensuing spring; in which event, the
cost beyond the revenue will hardly exceed
the amount of the $3.50 600 900 loan author.
lied by Congress, and with due economy in
| all branches of the nublic service not more