Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1861-09-05
TREASURY CIKCULAR.
AN APPEAL FOE rae POPULAR LOAN
wlsnrnaror. Sunday. Sent. !

ng pauiouc appear " tuo SAeHeN- -
United States, in behalfoi the National Loan
Your National Government, compelled BY |
guilty conspiracy, eliminating IN cause.
ess insurrection, Is engaged in war ior tne |
of liberty, for the supremacy OF the
aw for the defence Of the Unioni and for
ne maintenance Of popular institutions For
iba means 70 defray the necessary expenses
AZ this war, your Congress has directed that
an appeaI be made to you, by opening a sub
scription 10 National Loan Of $3.50, 900, 0O0
already the enlightened and patriotic cspi.
talists OF the great cities Of New-York, Bos
ton and Philadelphia have manifested their
clear sense, both Of duty and interest by q
OF $50, 900 600. Congress, un1
der which this subscription was received,
wisely provides, however, that the advan
tages, as well as the patriotic satisfaction OF
a participation in this loan, shall be offered,
not TO the capitalists Of the great citi's only,
but to the people Of the whole country. In
order to secure q substantial reward for their
public spirit whose patriotism prompts them
in this hour Of trial 70 place their means o.
the disposal OF the Government, Congress has
directed that al interest Of seven and three
tentbs per centum be paid on the several
amounts subscribed, an interest moi liable to
State taxation, but constituting for subscri-
hers a 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-
tages, Congress has further directed that sab.
scriptions be received for sums as small as
$50, 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, on payment
of his subscription, will be entitled to receive
Treasury Notes equal in amount in such de-
nominations as be may prefer, whether OF
$50. 500, $500, 81 900 or $4,000. The in
.erest, at Z 3-I0ths per snnum, will be, on
the notes of $50 one cent, on Sl00 two cents,
on $500 ten cents, on 81, 900 twenty rents,
and on 5000 one dollar each day, Ali the
| Treasury Notes issued will bear date on th'
18th of August 1861, and will carry interest
from that date. Each note viii have coup
ous attached expressing the several amounts
of semi-annusl Interest, which coupons may
he detatohed from the notes and P 'esented
for payment separately. Each subscriber
may pay the whole amount subscribed at Inc
time of subscription, or, ifhe prefers to DO so
NAV pay one-tenth at thas time, and one
third every twentieth day thereafter.
A each payment the accrued interest or
the amount from the 18th OF August to th'
date of payment must be also paid, and th'
amount of interest thus paid will be REIN
bursed ia the payment of the first coupon. II
order to secure beyond peradventure th'
nupctual payment of the interest and th'
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 demand
on account of ofextraordinary expenditures.
| II will be seen at glance that not only i
the whole property Of the country pledges
for the interest and final reimbursement ofth
loan, but that an adequate and specific pro
portion of the annual production is set apar
by taxation for the redemption of this pledge
Prompt payment beyond a contingency /
hus insured. Nor can this taxation b
thought great when compared with the mag
nitude of the objects Of the contest or will
the amount of property or production.
The objects are Union, permanent peac
and security at home, and respect abroad
which are imperilled by this unproyoked re
oeIlion. The. intelligence of the people com
prehend at once th,ir mag n tude. They ris
,bove party-fhey belong to no Administra
/ tiou-they concern the whole country dur
ing all time, under every Administration
and in every relation, both foreign and 10
nestle. And the means for the attainment G
rhese great objects can be readily supplies
from the prosperity and production. of tn
country. The real and personal values in u
United States reach the vast aggregate Q
SIG, 900, OOO, 900, and in the States nov
oval to the Union this aggregate l
| sIl, 900, 100000.
1.e -oorl-- s-1-71l1e oaruirl ~ II tbs-loys
conversant with such investigations, at NOR
than $400, 100000, while the well-ccnsideret
Judgment of military men of the highest ranl
and repute, warrant the confident expectation
that if the war is prosecuted with energy
courage and skill, it may be brought to ter
minatiOn before the close of the ensuinI
Spring; in which event the cost beyond tn
revenue will hardly exceed the amount of th,
$3.50, ,OO0, 900 loan authorized by Congress
and with due economy IN all branches o
the public service, not more than the tota
expenditures of Great Britain OF France il
years of peace.
And it is not unreasonable to hope thai
the suspicious result of peace may be has.
tened BY the reflection of the citizens OF the
States in iusurrection-that they will review
thsir action, weigh their own welfare, con.
slider the disposition of tee people of the
whole country to recognize all their consti.
tutional rights, and to allow them their full
share in the benefits of the common Govern
ment andrenew their allegiance to the Union,
which in an evil hour they have been tempt-
ed to throw off.
VIII they not reflect that the war into
which the Government has been constrained
is not war for their subjugation, but war
for National existence, and that an ausuicious
result to the Union will benefit as largely the
States in insurrection as the States which
have remsine6loyal. However this NAV be-
the duty of the National Government, as the
cOnstitutionally constituted agent of the peo-
pie, admits Of no question.
The war, made necessary by the insurrec-
ton, and reluctantly accepted BY the Gov
ernment must be prosecuted with all posi-
ble vigor until the restoration of the inst
authority Of the Union shall insure perma-
neat peace. The same good Providence
which conducted our fathers through the
difficulties and dangers which beset the for
nation of the Union, has grsciously strength
ened our hands for the work of its preserva-
ton.
The crops of the year are ample; the gran
aries and barns are everywhere full. The
capitalists Of the country come cheerfullv
forward to sustain the credit Of the Govern
ment already, Rnd 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 de-
preston caused by the rebellion aud the de.
ranRement Of business occasioned By IT. were
the people Of the United States in a better
condition to sustain a great contest than
now.
Under these favoring circumstances and
for these grand objects, shall, in pursuance
of the act Of Congress. cause books Of sub
scription to be opened as speedily as practi- |
oahla in fha eavaral offsay a :, 4