Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-09-07
The National Loan--Appea1 to the
People OF the United States.


People OF tho United States.
The following patriotic appeal for the
national loan has just been issued by Sec
retary Chase to the citizens of the United
States:
Your national government, compelled by
aguilty conspiracy eliminating in cause
less insurrection, is engaged in war for
security and liberty, for the supremacy of
the law, for the defence of the Union, ard
for the maintenance Of popular institu-
tions.
For the means to defray the necessary
expenses of the war your Congress has di-
rected that an appeal he made to you, by
opening a subscription to Al national loan
of one hundred and fifty millions of dol
lars.
Already the enlightened and patriotic
capitalists of the great cities of new York,
| Philadelphia and Boston. have manifested
their clear sense, both of duty and inter
est, by subscription of $5O,OOO, 900
I Congress, under which this subscription
was received, wisely provides, however,
\ that the advantages as well rs the patrio-
tic 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 substantial reward
for their public spirit to those whose pa
;riOtism prompts them in this hour of trial
TO place their means at tke disposal of
government, Congress has directed that nm
interest OF I 3-l0 per eentum be paid on
the several amounts subscribed, an inter-
est not liable to State taxation, but-con
stituting for subscribers revenue not only
I certain in receipt, but greater in amount
than can be expected from any ordinary in-
Ivestment. And IN order TO afford I'LL ciIi-
zens equal opportunities of participation
in these advantages, Congress has directed
ithat subscriptions he received for sums rs
ssmal1 as $40, as well rs for larger umonnts,
and that should the subscriptions exceed
the whole sum desired, the smaller be pre-
ferred in its distribution. Each subscri-
Der, on payment of his subscription, will
be entitled TO receive treasury notes, equal
in amount, in such denominations MS lie
may prefer, whether of $50, Sl00, $500,
$1,000 or $4,000. The interest nt 1910
per annum will be on the notes of $50 one
cent, on Sl0O two cents, on $500 ten cents,
on $1,000 twenty cents, on $4,000 one dol
lar for each day.
All the Treasury notes issued will bear
date on the 10th of August 1861, and will
!
will have coupons attached, expressing the
several amounts OF semiannunl 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 subscrip
tiOn, or, il he prefers to do so, may pay
one.tenth ut that time and One-third every
twentieth day thereafter.
At each payment the accrued interest,
on the amount from the 10th of August to
tho date Of payment must also be paid, and
the amounts of finterest thus paid will he
reimbursed in the payment of the first cou-
non. In order to secure beyond perad-
venture the payment OF the interest and
gradual reduction of the principal, Con-
gress 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 extraordinary
expenditures.
1t will be seen at a glance that not only
is the whole property of the country
pledged for the interest and final Ieim-
bursement of the loan, but that an adequate
and specific proportion of the annual pro-
duction is set apart by taxation for the re-
dcmption of this pledge. Prompt payment
beyond contingency is thus iusured.-
NUr can this taxation be 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 and respect abroad are imperilled
by this unprovoked rebellion.
The intelligence of the people compre-
hend at once their magnitude. They rise
above party. They belong to no admins
trntion. They concern the whole country
during all time, under every administration,
and in every relation, foreign or domestic.
And tho means for the attainment of these
great objects can be readily supplied from
the property professions OF the country.
The real and personal values in the Unit
ed StHtes reach the vast aggregate of SIG
OOO, 900, 900 and in the States now loyal TO
the Union this aggregate is $1,000, ,oOo,-
600.
The yearly surplus earnings of the loyal
people are estimated by intelligent persons
ronversaut with such investigations, at
more than 400, 600, 600, while the well con-
sidered Judgment Of military men Of the
highest rank and repnte, warrants the con-
fident expectation that If the war is prose-
cnted with energy, courage and skill, it
may be brought 10 n termination before the
close of the next spring, in which event the
cost, beyond the revenue, will hardly ex-
ceed the amount Of the $3.50, 600 loan
authorized by Congress; and with due
economy in all the branches of the public
service, not more than the total expendi-
tures Great Britain OF France in years of
peace.
And it is not unreasonable to hope that
the auspicious result o. peace may be has
tened by the reflection Of the citizens of
the States in insurreetion-that they will
review their action, weigh their own vel
fare. consider the disposition OF lie people
of the whole country to recognize all their
constitutional riRhts and TO allow them