The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1861-09-13
NATIONAL LOAN.

cy OF Law, Tor tho d0fcnCe OF Union, ana
for tho maintainanco Of Popular Institutions.
For means to dofray tho necessary expenses
Of this War, your Congress has directed
that an Appeal DO made to you. by opening
n subscription to National Loan of Ono
Hundred and Fifty Millions of Dollars.
Already tho enlightened and patriotic
Capitalists Of tho gront cities of New York.
Boston and Philadelphia have manifested
thcir clear sonso both o. duty aud interest.
by the subscription Of Fifty Millions OF
Dollars.
Tho act Of Congress undor which this sub
scrption was received wisely provides, how
over. that the advantages as woll as tho pat
riotic satisfaction of participation in this
Loan shalt ba offered, not TO tho capitalists
of tho great cities only, but TO the people of
tho whole country
In order TO secure a substantial reward Of
their public spirit TO those whose patriotism
prompts them, in this hour Of trial. to place
their means at the disposal OF tho Govern.
mont, Congress has directed that an interest
of seven aud thrce-tenths por ccntum DO
paid on the several amounts subscribed; an
/ interest not liable to State taxation, but
constituting for the Subscribers a revenue,
| not only certain in receipt, but greater in
amount than can be expected from auv
ordinary Investment.
And, in order to afford TO all citizens
equal opportunities of participating in these
advantages. Congress has further drected
that subscription 10 received for sums as
small as fifty dollars, as well as for larger
amounts; and that, should tho subscriptions
exceed tho whole sun desired, tho smaller
30 preferred in tho distribution.
Each subscriber, on payment of his sub
scription, will DO entitled to receive Trousury
notes of equal amount in such donomiua.
tons ms ho may prefer, whether Of fifty, one
hundred, Ave hundred, ono thousand, or
five thousand dollars.
Tho interest, at $40 pcr aunum, will
be, on tho notes of fifty dollars, one cont ;
on one hundred dollars, Two cents; on five
hundred dollars, ten conts on ono thousand
dollars, twenty cents +; and on Ave thousand
dollars. one dollar, each day.
All Treasury notos issued will boar date
on tho 10Th of August, 1861 and will carry
interest from that date. Each note will
have coupons attached, expressing the sevor.
al amounts of somi-annual interest; which
coupons may DO detached from the noto and
presented for payment separately.
Each subscriber may pay the whole amount
subscribed at the time Of subscription, or, if
ho prefers to do 30. may pay On0-tonth a,
that time and ono-third every twentieth day
thereafter. At each payment tho accrued
interest on the amount from tho 10th OF
August to tho date of payment must also be
paid and tho amounts of interest thus paid
will be reimbursed in the payment of the
first coupon.
In order to secure beyond peradyenture
; the punctual payment of interest and th,
gradual reduction of the principal, Congress,
has provided by law for an annual revenue
amply sufficient not only for tho purposes
but for the prompt payment of all demands
on account of ordinary expenditures.
1t will be seen ut glance that not only
is tho whole property of The country pledged
for tho interest and final REIN bursoment OF
this loan, but tbut an adequate specific
proportion Of she annual production is set
apart, by taxation, for tho redemption of
this pledge. Prompt payment, beyond con.
tingency is thus ensured.
Nor can this taxation bo thought great,
whom compared with the magnitude of the
objects of tho contest, or with tho amount
of property and production.
Tho objects are Union, popular Govern
mont, permanent peace, security Rt home
respect abroad; all imperilled by uupro
voked rebellion. The intelligence of the
people cOmprehonds at once their magni
tude They rise above party. They belong
to no Administration. They concern The
whole country. during all time, under oyery
Administration, and in every relation, for
oign and domestic.
And tho means for the attainment of thest
! great objects can bo readily supplied from
, the property and production of tho country
The real and personal values in the UuteC
States reach the vast aggregate of sixteeI
thousand millions of dollars aud in the
States now loyal to tho Union this aggregate
is eleven thousand millions.
The yearly surplus earnings of the loya
people arc estimated, by intelligent persons
conve-sant with such Investigations, at more
than four hundred millions of dollars
while tho woIl considered judgments o:
military men OF tho highest rank and re.
puto warrant a confident expectation that
tho war, prosecuted with enorgy, courage
and skill, may DO brought to Termination
before the close of tho ncxt spring il
which event, tho cost, beyond tho revenue
} will hardly exceed tho amount of tho two
hundred and fifty millions loan authorized
by Congress. With duo economy in al
branches of tho public service. the tota
expenditures for all objects, military, nava
and civil, in this year of war, noed not OK
coed the ordinary expenditures OF Great
Britain or France in years OF pcace.
And is it unreasonable to hope that the
auspicious result of peace may DO haslened
by tho reflections of the States in in
surrection That they will reyow their
action; weigh their own welfare; consider
tho disposition of tho People of the whole
country to recognize all their constitutional
rights and to allow them their full share in
the benefits of the common Government,
and renew that allegiance TO the Union,
which, in an evil hour. they have been
tempted to throw of: Will Ihoy not re-
fleet that tho war, into which ihe Govern
mont of the Union has been constrained, is
not war for their subjugation, but a war
for National existence, and that no auspi-
cious result to tho Union will benefit as
largely the States in insurrection as the
States which have remained loyal
However this may bo, the duty of the
National Government, as tho constitution
ally constituted agent of the People, admits
of no question. The war, mado necessary
by iusurrectiOn, and reluctantly accepted
by the Government, must be prosecuted
with all possible vigor until the restoration
OF the just authority of tho Union shall in
sure permanent peace.
The same good Providence, which con
Ju.ted our fathers through tho difficultie