Daily national Democrat., 1861-10-02
Dailp Natlonal Democrat.
Important Treasury Circular
AN APPEAL FOR THE POPULAR LOAN.
WAsnINeToN, September l.

limited States, in behalf of the National Loan
Your National Government, compelled by
guilty conspiracy, eliminating in causeles:
insurrection, is engaged in war for the Sc.
curity of liberty, for the supremacy of the
law, for the defense of the Union and for the
maintenance of popular Institutions For the
means to defray the necessary expenses o
this war, your Congress has directed that an
appeal be made to you, by opening sub
scription to National Loan of 81 50, 900 600
Already the enlightened and patriotic co pi-
talists of the great cities of New York Bos-
ton and Philadelphia, have manifested their
clear sense, both of duty and interest, by a
subscription of $50, 100000. Congress, under
which the subscription was received, wisely
provides, however. that the advantages, as
well as the patriotic satisfaction of partici-
patton in this loan, shall be ordered, not lo
the capitalists of the great cities only but to
the people of the whole country In order
to secure substantial reward for their pub
lie spirit to those whose patriotism prompts
them in this hour of trial to place their means
at the disposal of the Government, Congress
has directed that an interest of seven and
three-tenths per centum be paid ON the sew
eral amounts subscribed, an interest not liza
BILE to State taxation, but constituting for
subscribers revenue, not only certain in re-
ceipt, but greater in amount than can be ex-
pected from any ordinary investment.
And, in order to afford all citizens equal
opportunities of participation in these ad-
vantages Congress has further directed that
subscriptions be received for sums as small as
$50. as well as for large amounts, aud that
should the subscriptions exceed the whole sum
desired, the smaller be preferred in its distri-
button. Each subscriber, on payment of his
II k.a Io1
sury notes equal in amount in such denomi-
nations as he may prefer. whether of $50,
500. $500, 81 ,0o0 or $4,000. The interest.
at 3-i0ths pee anRum, will be, on the notes
of $50 one cent, on $l00 two cents on $500
ten cents, on 81 900 twenty cents and on
$1,000 one dollar each day. All the Trea-
sury notes ssued will bear date on the 18th
of August, 1861. and will carry interest from
that date. Each note will have coupons at
tached expressing the several amounts of
eemi-anuual interest, which coupons may be
detached from the notes aud presented for
payment separately. Each subscriber may
pay the whole amount subscribed at the time
of subscription, or if he prefers to do so, may
pay one teuh at the time, and one third
every twentieth day thereafter.
At each payment the accrued interest on
the amount from the 18th of August to the
u,
amount of interest thus paid will be reim-
hprsed in the payment Of the first coupon In
order 10 secure beyond peradventure the
gradual reduction of the PRINCIPAL Congress
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 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 set
apart 10y taxation for the redemption of the
pledge. Prompt payment beyond contin-
geRey 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,
which ere imperlled by this upprovoked re-
telko,, The Intelligence of the people com
prehend at once their magnitude. They rise
above party-they belong TO no Administra-
tiop-they concern tAe whole country during
all time, under every Administration, and in
every relation. both foreign or domestic
And the means for the attainment of these
great objects can readily be supplied from
the prosperity and productions of the coun-
Try. TIE real and personal values in the
United States reach the vast aggregate of
$4,000. .o0o.o 900, and in the States now loyal
TO the Union ths aggregate is Sll 100000
O00
The yearly surplus earnings of the loyal
people are estimated 10y intelligent persons
Gonversant with such Investigations at more
than S400 O00, 900, while the well considered
Judgment of military men of the highest rank
nd afo-
tien that il the war is prosecuted with ener-
gy. courage and skill, it rsay be brought to n
termination before the close of the ensuing
Spring; in which event, the cost beyond the
revenue will hardly exceed the apaount of the
$3.50 10000 loan authorized 10y Congress,
and with due economy in all branches of
the public service, not more than the total eX
pendilures of Great Britain or France in
years az peace.
And it is not unreasonable to nope that the
auspicioRs resWlt of peace may BE FASTENED by
the reflection of the citizens of the States in
insurrect;or they will review their ac-
ton, weigh their own welfare. consider the
disposition of the people of the whole coun-
try to recognize all their constituti onal ri .hts,
and to allow them their full share in the
BENEFITS OF the common Governments and re-
new theiv allegiance to the Union. which in
an ONll HouI lhc haN I otCh uS'ii lVNN W N'''oN
off
win they not reflect that the war into
which the Government has been constrained
is not war for their subjugation, but war
Cor national existence, and that an auspicious
result to the Union will benefit as largely the
States in insurrecton MS the States which
have remained loyal. However this may be,
the duty of the National Government as the
consttutonaly constituted agent of the pe1-
pie, admits of no question.
The war, made necessary by the insurrec-
ton and reluctantly accepted by the Gov
efnment, Must be prosecuted with all posi-
ble vigor until the restoration of the Just au-
thority Of the Union shall insure permanent
peace The same good Providence which
conducted our fathers through the difficulties
and dangers which beset tise formation of the
Union, has graciousIy strengthened our hands
for the work of its preservation.
The crops of the year are ample; the gram
aries and barns are everywhere full. The
capit of the country come cheerfnlly for
ward to sustain the credit of the Govern
ment; already and even in advance of this
appeal, men of all occupations seek to share
the honors and advantages of the loan.
Never, except because of the temporary
depression caused by the rebellion and the
derangemeut of business occasioned by it,
were the people of the United States in a
better condition to sustain great contest
than now.
Under these fivoring circumstances, and
for these grand objects | shall in pursuance
of the Act of Congress. cause books of sub
Al. L.. Ii 4