The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1861-09-27
The National Loan.
4 CARD.
". H..

The National Loan.
From numerous inquiries addressed to in
dlvldual members of the Treasury Note Com
mttee, 1t is apparent that many Of our fellow
citizens do MT rightly apprenend the nature
or conditions Of the national loan of fifty
millions; and that many who understand
these points are not aware Of the Importance
to the government that this loan should be
thoroughly distributed among the people.
Some persons suppose that they must
send their funds to Washington, in order
that they may obtain treasury notes; others
imagine that they must take their bags of
god to the assistant treasurer's office, and
there patiently wait their turn before they
can obtain any portion, however small, of the
loan.
! 1t should therefore be known that any
person may obtain any amount, from fifty
dollars to hve thousand, by paying the mo-
ney TO any bank IN Boston, or through any
bank in New England which will remi, the
money to bank in Boston and obtain the
treasury notes, or by paying the money to
the assistant treasurer in Boston. Interest
at tie rate of one cent per day for each fifty
dollars, from the 18th August to the day of
payment, is to be PREPAID, and the treasury
notes will bear interest from the 18th of Au-
gust thus securing interest to each deposi,or
from the moment of his subscription Re-
celpts will be given by the treasurer, or the
banks, till the treasury notes are forwarded
and these receipts will bear interest.
Illus much as to the conditions of the
loan; but far more mpoftan, topic is that
which relates to the thorough distribution of
this loan among the people.
After the lucid and torcible appeal Of the
secretary OF the treasury, it would seem a, if
nothing additional could be needed such
however is not the fact
In order for the vigorous and successful
prosecution Of the war, it is admitted on all
hands that the government must be amply
and promptly supplied with men and mo-
ney.
Nothing Is more encouraging to those who
have engaged IN raising and equiping regi-
mentS, than to See that the funds are furr-
ished and placed at the disposal of govern
ment.
) And who are concerned in the results of
this war? Better ask, who are not? What
man or woman or child has not direct inte-
rest at stake? What property, real or per-
sonal, is of value except as it is fostered and
protected by government And is not every
interest, as we'll as every individual, depend
ent for security and prosperity, if not for ac-
tual existence upon the maintaining, defend
ing and upholding this government and these
institutions, under which We have so long
prospered?
" hen this loan was proposed to the pub
llc, the men of wealth in our large coinmuni
ties seemed to be ready to respond at once
to the call, and expressed themselves ready
to do their part in furnishing the money re
qulred by the government. But the exigen-
cy was pressing, and the secretary of the
treasury felt the necessity of making immedi-
ate provision for the urgent wants of his de-
partment, and therefore made an arrange
ment with the banks, absolute SO far as ffy
millions are concerned-but conditional, SO
far rs the further sum of one hundred mil
lions are concerned.
The banks are meeting their engagements,
and furnishing the fifty millions with no prac-
tical inconvenience to themselves or the
mercantile communicated if no more mo-
ney was requisite, no difficulty would be ex-
perienced; on the contrary, the banks would
be glad to hold large portion of the loan at
the present time, when commercial paper is
very scarce and the legitimate wants of the
OuslIIcSS community NCi! liHtteu.
But cAo IS to furnish the nert fifty mil
lio.s?
Are the banks expected to DO so? Ifthey
are, the men of means, large and small, must
take and pay for first fifty millions during
the present month or early in October, 9th
erwise it cannot be accomplished.
There is no lack of means The money is
on deposit and can be drawn at pleasure, or
if invested, the investment can be changed,
Or money can be borrowed upon these notes
readily at 90 cent. on the dollar; and should
We not be willing to use cur credit that We
may save our government our country and
our property