The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1863-05-06

The ability with which Secretary Chase has
managed the affairs Of the department Of the
Treasury, the important plans he has natured
for sustaining the credit Of the country ana
its exchequer, and the wonderful
" successful results that have been secured BY
their adoption, stamp him as the greatest Of
living inanciers When it is considered what
expense is involved in carrying on the war, II
seems marvellous that be should be able, with |
out foreign assistance, 70 supply the enormous
pecuniary demands upon the Government not
only without depreeisting its credit and with
ont detrinent to the nonied interests Of the
country, but upon basis that must inevitably
enhance the stability Of both.
The Five-Twenty Loan is so called from the
fact that, though they are twenty year Bonds,
they may be redeemed at any time after five
years, at the option Of the Government They
bear interest, not as many suppose, at5-2O-lOO
Der cent, but at six per cent, payable semi
annually in gold, and the Bonds themselves
are to be paid in gold when due. These Bonds
are sold by Government Subscription Agents
in all the principal cities. Legal Tender notes,
or checks that will bring Legal Tender, being
alone receivable. The purchaser need only
send his money or check to the agent, and he
receives the Bonds free Of cost. The Bonds are
Of two kinds-CoupOn Bonds payable to the
bearer, or registered Bonds payable to bis or
der; the former being in s5O's, zoos, 5OOs
and I,OOO's; the latter in same amounts, also
in S. .OOO's and lO,OOO's. They are not taxa
bic by any State, City or County, and only
half the income tax is payable on them, as OF
other incomes, that exceed $500.
Notwithstanding the obvious advantages t.
:. be derived from investment in these securities
the rapidity with which they are being taker
Q il astonishing. The demand for them at tn
Office of J. Cooke, Esq, Banker and Govern
o ment Subscription Agent, ia South Thir'
g Street, Philadelphia, is from six to eight mil
. lions Of dollars per week. This is unprecs
:, dented in the history Of nonitAry Transaction
a in this country. Not only is this q most bril-
liant proof of the financial ability of Secretar
. Chase, but it is an overwhelming evidence {
the zeal for the right, the integrity, the devC
% tlOu W TIE OulOnf enc etiOhS oueCiSASC W IL
q Government, the immortal patriotism, and tn
in illimitable resources Of the American people
ID 1t furnishes also conclusive proof Of the OF;
n bility of eur Government. When it is know
that this nation is able to carry on a most &
gantic war, not only without assistance froI
abroad, but without sensibly diminishing th
. resources Of its own people, some just idea wi
b, be entertained Of its Herculean strength, an
Of OF the imnensity Of its resources. Weappen
the following, which has been issued as q sp
"a cial notice by the Government SubscriptiO
h. Agents of the Fivs-Twenty Loan:
= "On and after JULY LIST. 1868, the priv
legs OF converting the present issue Of LEGA
10 TENDER NOTES INTO THE NATIONA
r SIX PER CENT LOAN, commonly Gale
e Five-Twenties,O will cease.
"a "All who wish to invest in the FiVe-Twent
Loan, must. therefore, apply before the FIRST
~ July next"