New-York daily tribune., 1861-07-06
allied for the 900 offered the snm of q, 81 an
70 TIE Treasury, and in May, 1861 he further dispoesd

allied for the 8, S,0OG 900 offered the sum Of q slss
70 tee Treasury, and in May, 1861 ne further dspoesd
Inc Sesent Secretary also invited proposals. at par
ior <f3 g78 900, being the balance of the loan saor
fled by the Act OF June 1861. No bids we're received
except three for twelve Thousand in rhe aggregate
Which having been made nnder misapprehension were
permitted to be withdrawn, or applied ss Offers for
Treasury notes at par for bids under the Act of
February, at IS per cent. The Secretary has since
under the authority Of March, 1851 issued Treasury
notes 70 oiere at par aud IN payment public cred
itors to the amount Of &, 81, $50
Inc only authority now eSi'ti"g for obtaiong money
ioo which authorizes the seung of bonds bearing an
interest OF SIX per cent, Ia default Of offers at rar
Tue issue OF payment OF Treasury notes bearing she
same rate OF interest at par the aunoSnt o.
100000 Oc0 in bouds at rates VARYING fiom IS 10 "
per eentum, and ,Csi,t00 IL Tessuiy notes al par
realizing for the SS,994 GOO offered the tum of 81, vi
oJ3 40 and IN the act Of June -, 1860 Is modified
ny the act OF March :, E1J under which Treasury
notes az Elk per cent may be sued or id TO CT ters
at par 10 the amount of 81 , 450 making in al the
aggregate OF losns authorized 10 form s2l 33 450
Iha authority, under existing circumstances Is no
urther available than cIedtQrs may desire to accept
payment Ia Treasury notes az SIX per cent, which Is
not 70 be expected except perhaps, as an alternative
ior deLyt, OF which just or prudent Government
VIII not unless under extreme necessity permit the
occurrence. 1t needs further argum nj 10 work the
eonvicon that under tie existing laws little or moth.
tude Of the occasion requires other measures as the
contest In which the Government ia ensaged is b
contest for National existence, ana the sovereignty Of
the people.
II evidently proper that the appeal for the messr
OF prosecuting it with energy to speedy aud sueeesS
Jul ssue should be made, III The fret instance at eaa
10 the people tlem-elyes and IL s highly desirable
in order that the circle Of contribution may be widely
extended 10 make the burden press light possible
upon each individual contributor and, possble
trsusmute The burden into a benefit.
To attan these desirable objects, the Secretary sub
mits to Congress- the expedency opening subscriptions
for National Loan Of not lees than $JO 0O0 10 be
issued in the form of Treasury Notes exehequeT
bills bearing yearly interest Of 30 per centuD, TO
be paid half yearly and redeemable at the pleasure Of
the United States after three years from date The
Of Sl00 600 900 il named tie amount for which
it expedient TO rely q ubsciip iption Of ths
kind But it il not intended 70 restrict loans in this
form 10 any precise limit short OF entire which
may be required Ia addition sun TO be realized
from other sources for all the purposes of the year.
The interest Of 3-lj Is suggested becanSe II Is
liberal to the subscriber, convenient for cal uatiOn
and under existing circumstance, fair rate for the
Government. Ii 10 beneficial IT, the people that loan
distributed among themselves shOnli be made 80 ad
yantageous 10 the takers to Inspire Subtraction anc
hopes Of profit rather than annoyance aud fears Of los
and il the rate of interest proposed be somewhat
higher than that allowed in ordinary times, "
will not be grudged to the subscribers when
it 10 remembered that interest ON the loan
will 20 into the channels of home rculation and s 70
reward those wi q cone forwsrd ia the honr Of peril
TO place their reans the disposal OF their country
Tie cow eniepcs of caicnltin, incident 10 tue nat.
proposed is quite Obvious for the interest
beng equal to one cent day on fry dol
Lars is otly necessary 10 know The number Of days
since the date Of the lat payment OF interest
TO determine at glance th. amount due uponi IT.