The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-09-02

II will be seen at a glance, that nos oalg is the
whole property oi tie country pledged for the inte
rest and final reimbursement Of this loan, but that
an adequate specific proportion of the annual pro
duction il set apart, bv taxation, Tor The redemp
tion OF this pledge. Prompt payment, beyond coz
tingency, is thus ensured.
Nor can this tazation be thought great when
ed with the magnitude nf the objects of the
contest, with the amount Of property and pro.
ducton.
The objects Union, popular government, per-
manent peace security at home, respect abroad
all impefed by unprOveked rebellion. The intel
ligence of the people Cpmprehends at once their
magnitude. They rise above party. They belong
to Administration. Tbey concern the whole
country, during all time, under every administra-
ton, and in every relation, foreign domestic.
Aud the means for the attainment of these great
objects can be readily supplied from the property
and production Of the country The real and per-
sOns values in the United States reach the vast
aggregate of sixteen thOusaud millions of dollars;
and in the States now loyal to the Union this az
gregate is eleven thousand millions.
The yearly surplus earnings of the loyal people
estimated, bT intelligent persons couversant
with such Investigations, at than four hun
dred millions Of dollars; while the well-copsidered
judgments OF military men Of the highest rank aud
repute, warrant confident expectation that the
war, prosecuted with energy, courage and skill,
may be brought to termination before the close
OF the next spring. in which event the cost, beynad
the revenue, will hardly exceed the amount of the
two hundred and fifty milliens loan authorized by
Congress. With due economy in all branches of
the public service, the total expenditures for all oD-
iects military, naval aud civil, in this year of war,
need not exceed the ordinary expenditures OF
Great Britain or France in years Of peace.
And is it unreasonable to hope that the auspcious
resnlt of peace may be FASTENED by the reflections
of the citizens of The States in Instruction? That
they will review their action; weigh their own wsi-
fare consider the disposition of the people of the
whole country to recognise all their constitutions
rights and tn allow them their full share in the
benefits oi the common Government, and renew
their allegiance to the Union, which, in an evil
hour, they have been tempted to throw off? Will
they not reflect that he into which the Gov
ernment of the Union has been constrained is not
a war for their subjugation, but for National
existence, and that auspicous result to the Unsn
will benefit largely the States in nsurrection as
the States which have remained loyal?
However this may De, the duty of the National
Government as the constitutionally constituted
agent Of the people, admits of question The
war, made necessary BY nsurrection, and reluc-
taGtly accepted by the Government, must be pros
ecuted with all possible vigor until the restoration
OF the just authority of the Union shall insure per-
maneut peace.
The same good Providence which conducted our
fathers through the difficulties and dangers which
beset the formation Of the Union, has graciouslv
strengthened our hands for the work of its presar-
vation.
The crops Of the year are ample. Granares and
barns everywhere full. The capitalists of the
country come cheerfully forward to sustain the
credit of the Government. Already, also, even in
to share the hnnors and the advantages of the loan
Never, except because of the temporary depression
caused by the rebellion and the arrangement of
business occasioned by it, the people of the
United States in better condition to sustain q
great contest than now.
Uuder these tavorinG circumstances and for these
grand objects, shall, in pursuance of the act OF
Congress, cause books of subscription to be opened
speedily practicable il the several cities and
principal towns Of the United States, in order that
all citizens who desire to subscribe to the lean may
have the opportunity of doing so. Meanwhile
those who prefer that course may remit any sum
which they may wish to invest in the loan to the
Treasurer of the United States at Washington, or
to either of the Assistant TFeasurers at Boston,
New York, Philadelphia 3r st. Louis or to the De
positorv at Cincinnati, whose certificates will enti-
tie the holders to Treasury notes on the terms al
ready stated The patriotism Of the people, it is
not to be doubted, will promptly respond to the
liberal wisdom Of their representatives,.
:. p. CHASE,
Secretary of the reasury.