Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1861-09-04
Important Treasury CIrcuIar-Thc Secre-
tary's Appeal for the POPULAR Loan.

Important Treasury CIrcuIar-Thc Secre-
tary's Appeal for the Popular Loan.
| WASHINGTON, Sunday, Sept. 1.-Secretary
| Chase has just issued the following patriotic
appeal to the citizens of the United States. in
behalf of the national loan -
Your national government compelled by
| guilty conspiracy, eliminating in a causeless
| insurrectlon, is engaged in war tor The
security of liberty, Tor the supremacy of the
| law, Tor the defence of the Union, and for the
maintenance OF popular Institutions. For the
! means TO deiray the necessary expenses of this
war your congress has dret,ed that an appeal
be made to you, by opening subscription to
national loan of Sl50O0O00 Already the
enlightened and patriotic capitalists of the
great cities Of New York, Boston, and Phila.
I atipfiia have manifested their clear sense,
| bot, OF duty and intert st, by subscription of
| S5O,O0O,0O Congress, under which this sub
scription was received wisely provides, how
| ever, that tine advantages, as well as the pa
uiotic satisfaction Of participation 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 substan.
tial reward Tor their public spirit to those
| whose patriotism prompts them in this hour
OF trial to place their means at the disposal
an interest of seven and three-tenths per cent
| um be paid on the several amounts subscribed,
an interest not liable TO stale taxation but
| constituting for subscribers a revenue, not
only certain in receipt but greater in amount
than can be expected from any ordinary in
vesment.
And, in order to afford all citizens equal
opportunities Of participation in these advan
tages, congress has further directed that sub
ba cd f,ps
$50, as well as for large amounts, and that,
should the subscriptions exceed the Whole sum
desired the smaller be preferred in its distr-
button. Each subscriber, on payment of his
subscription, will be entitled to receive treas
ury notes equal in amount, in such dcnom-
nations as he may prefer, whether of
$780, 500, $500, $1,000, or $500 The inter
est at 3 l0ths per centum, will be, on the
notes of $50 one cent on 500 two cents, on
$500 ten cents, on $1,000 twenty ceuts, and on
$1,000 one dollar each day. All the treasury
notes issued will bear date on the 10Th OF Au.
gust, 1861, and will carry interest from that
date. Each note will have coupons attached
expressing the several amounts of semiamnual
interest, which coupons may be detached from
the notes and presented for payment separate
ly. Each subscriber may pay the whole
amount subscribed at the time of subscription
or, if he prefers to do so, may pay one tenth
at that time, and one third every twentieth day
thereafter.
Ateach payment the accrued interest on the
amount from the 18th OF August to the date
of payment must also be paid, and the amount
of interest thus paid will be reimbursed in the
payment of the first Coupon. In order to Sc
cure beyond peradventure the punctuai pay
ment of the interest and the gradual reduction
of the principal congress has provided by law
for an annual revenue amply sufficient not
| only for these purposes, but for the prompt
! payment OF all demands on account OF extra
| ordinary expenditures.
1t will be seen as a glance that not only is
| the whole property OF the country pledged for
the interest and final reimbursement of the
loan, but that an adequate and specific proper
ton Of the annual production is set apart by
! taxation for the redemption OF this pledge.
Prompt pa ynentt hheyead contingency is thus
insured. Nor can this taxation he 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, permanent peace
and security at home aud respect abroad,
which are imperiled by this unproyoked re.
beion The intelligence of the people COM
| prehend at once their magnitude. They rise
| above party-they belong TO no administration
! they concern the whole country during all
| time, under every administration, and in eve.
| ry relation, both foreign or domestic. And
the means for the attainment Of these great
objects can be readily supplied from the pros
| perity and production OF the country. The
| real and personal values in the United States
| reach the vast aggregate of $4,000, ,000
and in the states now loyal to the Union this
| aggregate is Sl1,000000,000.
The yearly surplus earnings of the loyal
| people are estimated by intelligent persons,
conversant with such Investigations, at more
! than $500, 100000, while tile ,ceiI considered
| judgment Of military Of the highest rank and
rej)ute acarrant the confident expectation that if the
'cdr rs prosecuted 'cih energy, courage and SkH it
may be brought TO termination before the close of
The ensuing spring; in Which event the cost, beyond
the reUenue, scW hardly erceed the amount Of the
! $3.50, 100000 loan authorized By congress. and
with due economy in all branches of the
! public service, not more than the total eXpen-
! diture Of Great Britain or France in years OF
| peace.
And it is not unreasonable 10 hope that the
suspicious results Of peace may be FASTENED
! by the reflection Of the citizens of the states in
| lnsurrection-that they will review their ac-
| ton, weigh their own welfare, consider the
! disposition OF the people OF the whole country
10 recognize all their constitutional rights, and
to allow them their full share in the benefits of
the common government, and renew their al
leglance to the Union, which in an evil hour
they have been tempted TO throw off.
Will they not reflect that the war into
which the government has been constrained is
not war Tor their uljugation, but a war for
national existence, and that an suspicious re.
suit to the Union will benefit as largely the
states in instruction as the states which have
remained loyal. However this may be, the
duty OF the national government is the CON
sttutionally constituted agent of the people,
admits OF no question.
The war, made necessary by the insurrec.
ton, and reluctantly accepted by the govern
ment, must be prosecuted with all possible
vigor until the restoration OF the just authority
OF the Union shall insure permanent reace
| The same good Providence which conducted
our fathers through the difficulties and dangers
which beSet the formation of the Union, has
| graciously strengthened our hands for the work
| OF It's preservation.
! The crops Of the year are ample the grana-
| rles and barns are every where full The
! capitalists of the country come cheerfuly for.
ward to sustain the credit of the government:
already, and even in advance OF this appeal
men OF all occupations seek to share the honors
and advantages of the loan.
Never, except because of the temporary
| depression caused by the rebellion and the
arrangement of business occasoned by il,
were the people OF the United States in
better condition to sustain great contest than
now.
Under these tavoring circumstances and for
these grand objects, shall, in pursuance of
the act OF congress- cause books OF subscription
to be opened as speedily as practicable, in the
several cities and principal towns OF the United