Cincinnati daily press. [volume] (Cincinnati [Ohio]) 1860-1862, 1861-09-05
THE DAILY PRESS.



Chase;
Your National Government, compelled by
guilty conspiracy, eliminating in a cause
less insurrection, is engaged in a war for
the security and liberty, for the supremacy
Of the law, for the defense of the Union, and
for the maintenance of popular institutions.
For the means to deffay the necessary ex-
penses of this war, your Congress has di-
rected that an appeal be made to you by
opening subscription TO national loan OF
$3.50, 1000. 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 interest, by subscription of $50,000-
O00 Congress, upder which this subscrip-
ton was received, wisely provided, however,
that The advantages as well as the patriotic
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 sub
stantial reward for their public spirit to
those whose patriotism prompts them in this
hour of trial to place their means at the dis
possl of Government, Congress has directed
that an interest of 3-l0ths per centum be
paid on the several amounts subscribed, and
interest not liable to State taxation, hut con-
stitutiDg for subscribers revenue, not only
certain in receipt, but greater in amount
than can be expected from any ordinary in
vestment.
And in order to afford all citizens equal
opportunities of participation in these sd-
yantages Congress has further directed that
subscriptions be received for sums as small
as $50, as well as for large amounts, and that
should the subscriptions exec ed the whole sum
desired, the smaller be preferred in its dis
tribution. Each subscriber, on payment of
his subscription will be entitled to receive
vnfa IN in do
nominations as he may prefer whether of
$50, 800, $500, $1,000, or $4,000. The in
terest at seven and thTee-tenths per aHnum
will be on the notes of $50 one cent OF Sl00
two cents, on $500 ten cents, on 81, ,000twenty
cents, ard $4,000 one dollar each day. All
the Treasury notes issued will bear date on
the 10th of August, 1861. and will carry in-
terest from that date. Each note will have
coupons attached, expressing the several
amounts of semi-snnual interest, which
coupons may be detached from the notes and
presented for payment separately. Each
subscriber may pay the whole amount SUBJ
scribed at the time of SUBSCRIPTION, or, if he
prefers to do so, may pay one-tenth at that
time, and one.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 amounts Of interest thus paid
will be reimbursed in the payment of the
first coupon. In order to secure, beyond pre-
adventure, the punctual payment of the in
teIest, and the gradual reduction of the prin-
cipal, Congress has provided by law for the
annual revenue, amply sufficient, not only
for these purposes, but for the prompt pay
ment of all demands on account of extraor-
dinsry expenditures.
1t will be seen at 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 is get
apart by taxation for the redemption of this
pledge. Prompt payment beyond contin-
gency is thus insured. Nor 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
imperiIed by this uDprovoked rebellion. The
intelligence of the people comprehends at
once their magnitude. They rise above
party-they belong to no administration
they concern the whole country during all
time, under every administration, and in
every relation, foreign or domestic. And the
means for the attainment of these great OBJ
jects can be readily supplied from the prop
erty and productions of the country. The
real and personal values IN the United States
reach the vast aggregate of SIG 900, 900,
and in the States now loyal to the Union,
this aggregate is Sll, 000,000000.
The yearly surplus earnings of the loyal
people are estimated by intelligent persons
conversant with such Investigations at more
thal $4OO 600, 900, while the we'll considered
Judgment of military men of the highest rank
and Iepute warrant the confident expectation
that if the war is prosecuted with energy,
courage and skill, it may be brought to a
termination before the close of the next
Spring, in which event the cost beyond the
revenue will hardly exceed the $3.50, 900,
losn authorized by Congress, and with a due
economy iu all branches of the public SERVICE
not more than the total expenditures of Great
Britain or France in years of peace.
And it is not unreasonable to hope that
the auspicious result of peace may be has
tened by the reflection of the citizens of the
States in insurrection-that they will review
their action, weigh their own welfare, con-
slider the disposition Of the 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 Gov
ernment, and renew their allegiance to the
Union which, in an evil hour, they have been
tempted throw off Will they not reflect
that the war in which the Government has
been constrained is not a war for their sub
jugation, but war for national existence,
and that an suspicious result TO the Union
Will UoH6ut us ldTReIy tuo CthIeS III lusutFeC'
ton ss the States which have remained loyal?
However this may be, the duty of the Ma
tional Government as the constitutionally-
constituted agent of the people admits of no
question. The war, made necessary by the
insurrectiop, and reluctantly accepted by the
Government, must be prosecuted with all
possible vigor until the restoration of the
Just authority Of the Union shall insure per-
manent peace. The same good Providence
which conducted our fathers through the
difficulties and dangers 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 and the
9ranaries and barns are every where full.
The capitalists Of the country come cheer
fully forward TO sustain the the credit of the
Government already, and, even in advance o.
this appeal, men Of all occupations seek II
share the hOnors and advantages of the loan
Never except because of the temporary de
preston caused by the rebellion, and the de
ranRement of business occssioned by it, wer
the people of the United States in bette
condition to sustain great contest than now
Under. these faVoring circumstances, ant
for these grand objects, | shall, in pursuance
of an act of Congress, cause books of sub
Ecription to be opened as speedily as practi
catle in the several cities and principal town
Of the United States, in order that all citizen
who desire to subscribe to the loan may hav
the opportunity of doing so. Meanwhile
those who prefer that course can remit an,
sum which they may wish to invest in tn
loan to the Treasury of the United States a
Washington, or to either of the Assistan
Treasures at Boston, New York, or Phila
delphia, or Saint Louis, or to the Depository
nNN ,ae~ nks k.sl,