The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1861-09-11
THE NATIONAL LOAN.
Appeal 10 the People Of the United
L.. States. -.V
Commissioners.
WASHINGTON, Sept. l.

WASHINGTON, Sept. 1.
The following patriotic appeal for the Nation
al loan has just been issued by Secretary Chase
to the citizens Of the United States:-
Your National Government, compelled by
guilty conspiracy eliminating in causeess insur-
rection, is engaged in war jor security and lib.
erty, Tor the supremacy OF the law, for the de-
lence OF the Union, and for the mantanance Of
popular institutions. For the tneans % defray
the necessary expenses of this war, your Con-
gresS has directed that an appeal be made to
you by opening subscription to National
lean OF one hundred and fifty millions Of dol
lars t... .. ....
Already the enlightened and patriotic capital
lists Of the great cities OF New York, Philadel-
phia and Boston, have manifested their clear
sense both of duty and interest by o subscrip.
ton OF S500O0,OO0. Congress, under which
this subscription vas received, wisely provides,
however, that the advantages, as we'll as the pa
trotic satisfaction o participation in this loanr
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 20 those whose patriotism
prompts them in this hour Of trial to place their
means at the disposal OF the Government, Con-
BiGeS lthS ulEtutCu ltldL dH iUlGlcSb VI LOluo
per centum be paid on the several amounts sub
scribed, an interest not liable to State taxation,
but constituting lor subscribers revenue not
only certain in receipt but greater in
amount than can be expected from any ordina-
ry investment. a-..a
And in order to afford all citizens equal op-
portunities OF participation in these advantages,
Congress has further directed that subscriptions
be received ior sums as small as $50, as well as
for large amounts, and that should the subscrip-
tions exceed the whole sum desired, the smaller
be preferred in its distribution. Each subscri-
Der on payment Of his subscription will be eni-
tied to receive Treasury notes, equal in amount,
in such denominations as he may prefer, whe h.
er Of $50, 800, $500, $1,000, or $4,000. The
interest, at one l0ths per annum will be
on the notes Of $50, one cent on 800 two,
cents $500 ten cents, on $1,000 twenty cents,
and on 5000 one dollar per day. All the trea.
sury notes issued will bear dates on the 10Th
of August, 1861, and will carry interest from
that date, Each note will have coupons attach
ed expressing the several amounts Of semi an.
nual interest, which coupons may be detached
from the notes and presented for payment sepa-
rately. 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-t third every twentieth day
thereafter.
At each 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 pay
ment Of the first coupon. In order to secure
beyond peradventure the punctual payment 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
oil demands on account OF extraordinary expen
ditures. f..
1t will be Seen at 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 proportion OF
the annual production set apart by taxation for
the redemption OF this pledge Prompt pay.
ment beyond contingency is thus insured. -.
Nor can this taxation be thought great when
compared with the magnitude of the object OF
the contest, or with the amount OF property
and production. .-...s
The objects are Union, permanent peace and
security at home and respect abroad which are
mperilled by this unprovoked rebellion. The
intelligence of the people comprehend at once
their magnitude They raise above party--they
be long TO no Adminstration--the concern
the whole country during all ime, under every
Administration, and in every relation, both for
eign and domestic. And the means for the at
tainment of these great objects can be readily
supplied from the prosperity and productions OF
the country. The real and personal values OF
tbe United States reach the vast aggregate Of
SIS 100000, and in the States now loyal to
the Union this aggregate is Sl1 0O0,OO0,QO0.
The yearly surplus earnings of the loyal peo-
pie are estimated by intelligent persons, conver
SAINT with such Investigations, at more than
$4000OOO00 while the well considered iudg
ment OF rilitary men OF the highest rank and
repute warrant the confident expectation that
if the war is prosecuted with energy, courage
and skill # may be brought to termination
before the close Of the ensuing spring; in which
event the cost beyond the revenue will hardly
exceed the. amount Of the S250,o00 900 author
lied by Congress. and with due economy in all
branches of the public service, not more than
the expenditure OF Great Britain or France in
years Of peace.
And it is not unreasonable to hope that the
.auspicous result OF peace may be hastened by
the reflection of the citizens Of the States in in
surrecton-that they will review their action,
weigh their own welfare, consider the disposi,
cognze all their constitutional rights, and t.
allow them heir full share in the benefits Of the
common Government, and renew their aleei. |
ance to the Unicn which in on evil hour they
have been tempted to throw off
VIII they not reflect that the war into which
the Government has been constrained is not
war for their subugaion but war for nation
al existence, and that an auspicious result to
the Union will benefit as largely the States
which have remained loyal. However this may
be, the duty Of the National Government, az |
the constitutionelly constituted agent OF the
people, admits ofno question.
The war made necessary by theinsurrection, |
and accepted hy the Government, must be pros
ecuted with all possible vigor until the restora
ton of the just authority Of the Union shall
insure permanent peace. The same good Prov.
idence, which beset The formation OF the Union,
has graciously strengthened our hands for the
work Of its preservation.
The crops Of the year are ample; the grana- |
ries ard barns are every where full. The cap-
tslsts OF the country come cheerfully forward |
to sustain the credit of ahe Government; area.
dy and even in advance OF this appeal, men Of
all occupations seek to share the honors and ad |
yantages of the loan. XII
Never, except because Of the temporary de-
preston caused by the Rebellion and the de-
rangement OF business occasioned by it, were
the people ofthe United States in better con.
dition to sustain a 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 in the several cities and principal
towns Of the United States, ia order that all
citizens who desire to subscribe to the loan may
have the opportunity Of doing so.
Meanwhile those who nralar that cnnrse can d