Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1861-09-06
NATIONAL LOAN.


Your nAiioaal government, compelled by guilty con
gpirary. eliminating ia causclcss iu-urrecnu Is en-.
pcmacy of the Law, ff the defence u the Union aud
Tor the maintanaucc uf popular Institutions. For the
means % dcfTay The necessary expenses Of this war
ynur tongrcss has directed that appeal be made 70
hundred aud fifty mil ions II dollars Already the cu-
lishtcned and patriotic capitalists n the great cie, n
New York Philadelphia and Boston have manih sied
their clear both Of duty and interest by suhscp-
uon ~ 500 0liO), Congress, under which this -ub-
scrpuln received, wisely provided hoveyer, that
the advantages a. well IS the patriotic satisfaction OF
part iraiion this loan, shall be offered mot 90 che
efpal'ts"f the great cities ONLY bot tn the people ofthe
whole county Ia order % secure substantial reward
for their public spirit 10 those whose patriotism prompts
them 10 this hour " rial 20 aacc their the dis
possl Of gvernmeu Congress has directed that an n.
teres u l0hs per ccntani bee paid on the several
amoeHt, subscribed aud Interest not liable 20 state
alton bat constituting fr subscribers only
certain "a receipt 9g sreayr 70 amount than eau be eK
Aud Va ser 70 anpfd ali citizens equal opportunities
~ participation in these adyautagcs Congress has fur
ihcr directed that subscriptions oc received Tor sums nf
so well flr larse and that should the
subscriptions exceed The whole desired. the smaller
be- preferred iH is distribution. Bach subscriber, on
payment OF hls subs ripun, will be entitled a. receive
Ireasnry notes, equal be- amount zen such denominations
hc may prefer whether ~ s51 SllO 500 StntO ~
500 The interest 81 3.lOls ntr aunum will be on
the notes " $50 one cent. 500 two cents $50
ten cents, on SION twenty cents, aud On S5uol dol
lar each day All the Treasury notes issued will bare
date thc l9h ~ August 1861, and will cary interest
from that date. Each note will have coupnus attached,
fhfefaNH fNf several amounts ~ efuiunuual INTEREST
which coupons may be detached hom the notes and pre-
/ scented for payment separately.
Each stiseiiler pay tine whole amount subscribed
the vine ~ subscsipiiuu or. if Lc prefers do
may pa, one tenth that time aud nnc-thiId every
twentieth da1 thereafter At each aNuifu the accrued
interest o. he amount from the Ia n August a. the
date n payment also be paid and the amounts Of
interest thus paid will be- reimbursed in the payment Of
the hrst coupon Ia order 10 secure beyond peradyen
ture the puncual payment Of the interest," and the
gradual reduction OF the principal. Congresshas PROV cd
by law Tor anuai revenue, amply ,ucient not OILY
r the purposes, but fcr the prompt payment Of al de-
mands on account Il extraordinary expenditures.
Il will be SEEN at glance that not only is the whole
property of the country pledged r The interest and final
remhuf- ~ The loan, bat that adequate and
specific proportion Of the annual production set apar
by taxation for the redemption Of ibis pledge. Prompt
payment hevnnd conngcnfy J.. thus insured. Nor can
this taxation be Thought great when compared with the
magnitude 81 the Objects nf she contest with the
amount ~ properly and production.
The objects Union. Permanent peace and security
az hmm and respect abroad are mperiled by this un-
provoked rebellion The intelligence Of the people
pteheuds Al once their usEuifude. They rise above
pari-ihl belong o. h1 admnisrton-ihey concern
The ohoc country during ali time, under every admins
uaron aud every ulati0u, foreign mr. domestic Aud
the for the attainment these great objects
be readily supplied from the prope ~ aud predictions of
the county The real aud personal values III the United
states reach ihs vast aggregate n S6OOJWONoO and
in The States loyal 20 the Union this aggregate is
] Al ono 0Ol O01.
The yearly surplus earnings n the loyal people are
timated o, nteRent persons With such in
sestigaions al more than Sfh.WnW0 while the well
considered Judgment 0f mtty Of the highest rank
aud rrpdte warrant coutdeu expectation that the war
is prosecuted wi energy, courage aud skill II may be
brought 90 termination before the close Of the next
sprng. IN which the hes ond the will
hardly exceed the l51 O0O,0 loan authorized by Con-
gfes aud with due economy IN all branches Of the pub
lie service than the total expenditures OF Great
Britain or France in years " peace.
And II IS unreasonable 10 hope that the auspciou
result Of peace may hasened by the reflection Of the
people Of the states n iusufIecinnhat they will review
their action, weigh their own welfare consider the DIS
position Of the people Of the whole country 70 recognise
al their constitutional rights, and TO allow them their
hll share in the benefits Of the common government
and their allegiance N the Union which, ~ an
evil hour they have beei tempted TO throw of. VIII
they reflect that the in which the government ts
engaged j. not war r their shJusntion out war ior
natonal existence. and that suspicious result 20 the
Union viii benefit largely the states IN nsurreeupn "a
the states which have reinained loyalf However TINS
may be- the dty n the national government as The cons
tuanaly substituted agent ~ the people admits " no
question The made necessary by the insureetOni
add reluctantly accepted by the government mus DC
prosecuted with all possible vgor until the restoration OF
the Just authority Of the Union shall insure permanent
peace The good Providence which conducted our
fathers through the difficulties and dangers which beset
the formation OF the Union has gracousy strengthened
our hands for the work Of iis prescrNalioi.
The crops Of the ample and he granetes and
barns everywhere ful The capitalists Of the c"un-
~ come cheerfuy forward sustain the credit u the
government already, and even IN advance Of This Apea
men Of all occupations seek 10 share ihe hohols ahu au
yaniages Of the loan Never except because Of the ten
potaf, dep caused by the rebellion, and the de-
rangement ~ business oceasouod by IT, we're the peo
the United states in better condition 10 sustain q cat
contest than
Under these flvoring circumstances, and for these
grand objects shall ia pursuance OF thy act Of Congress
cause books Of subscription 10 be opened as speedy
practicable 10 the several cities and principal t5~ns OF
the United States IN order that alt citizens WIN desire q
subscribe 10 the loan have the opportunity OF doing
so. Meanwhile, those who prefer ihu course can REM
any which they may wish invest In the loan &
the Treasury Of the United States at Washington, o.
either Of the Assistant TTeasurcrs Bostou New Yofk
or Philadelphia. 81 Louis the Depository At Gin
cnna where certificates will eniilc the holders Urea
ury notes the terms already stated The patriotism
4 Of fna IA 0Uuheu.
pond to the liberal wisdom OF their represent ati,es
s. p. CHASE,
Secretary OF the Treasury.