The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1864-09-02
difIutellaneolls.
The Seven -Thirties- What are they7

We trust that large portion of our read.
crs have pondered the Appeal Of Mr.. Fessen
den, our new Secretary of the Treasury The
purport of it Is that the People Of tho United
States, acting as q body through their agen,
tho Government. wish individuals to lend
them two hundred millions OF dollars for three
years, ut seven and three tenths per cent. an.
nual interest, payable every six months. For
this they offer Treasury Notes-that is, In re-
ality, notes drawn and endorsed by every man
in tho country. The loan is wanted for q
great national purpose, to effect which every
man, unless he be traitor ut heart II not in
act, is solcmnly pledged. . .' d" 'i''
The Appeal is addressed not merely to n
few great capitalists, but also to tho many
whose aggregate means constitute tho mass oil
tho wealth Of the land. The notes upon
which this loan is asked arc from $50 0upward
Every man who has fifty dollars c,,n takc part
in this loan. Apart from patriotism and the
duty wliicl, all owe to their country, no in.
vestmcnt is 20 desirable ns this. '''n 90
Il is secure. Every dollar of every mans
property is pledged for tho punctual payment
of tho interest, and OF the debt when due.
The security in increasing in value. For some
years before the war We were earning 1000
millions year moro than uc spent. During
the three years Of tho war. owing to tho high
prices and constant demand for labor, We
have earned more than ever before. Noman
who could or would work has becn idle and
except for tho war, wc have spent lcss than
before. Tho total valuation Of the property
0f tho United States. according 10 tho census
of 1850. was SIG, l50, , ,000. 900 of which $40.
057 ,4iS, ,056 was in the loyal States. This
valuntion, according 10 tho usual rulc Of as.
scsinent, was not morc than two thirds Of the
actual cash value of the proprty. The ir-
crease Of property in the Loyal Strtcs during
tha last ten years was @cr l26 per cent, or
an average Of l2 6 10 per cent, per nnnum.
In three years OF the war we of tho United
States have certainly earned 5000 millions
more than VIC havcspcnt apart from the war.
Tho cost OF the war may bc SGT down ut 2O00
millions. Deducting this from our net c,ri,-
ings. the People who arc security for this loan
are 1000 millions richer to day than they were
when tho war broke ont ,..
No other investment can be so easily con.
vcrtib!e. The man who has n Treasury note
for $50, or 800. or $1,000. can turn it into
money more readily, and upon better terms,
than if It were invested upon bond and mort
gage, or in railroad stocks.
The interest offered is higher than can be
realized from any other sale and convertible
investment. IL is. moreover, readily collect-
albe when due. To each motto arc affixed five
"conpons, or interest tickets. due at the cx.
piration of each successive bnlf.ycar tho hold
or of note has simply to cut off one OF these
coupons, present il At the nearest hank or
Government Agency, and receive his interest
the note itself need not be presented at all
Or coupon thus payable will everywhere
be equivalent, when due, to money.
Thus. while this loan presents great ndvan-
tages to large capitalists, II offers special in
duccments to those who wish to make safe
and profitable investment of small savings.
II is in every way tho best Savings Bank
for every institution Of this kind must soinc
how inves, its deposits profiably in order to
pay interest and expenses. Thoy will invest |
largely in this loan. Ms the best investment.
Bot from tho gross interest which they 70
ccive they must deduct largely Tor the cxpeii- |
ses Of the Bank. Their usual rate OF inter.
est allowed to depositors is 5 per cent. upon
sums over $500. The person who invests d. |
rcctly with Government will receive almost
80 per cent. more. Thus the man Who do.
pusits $1,000 in q private Savings bank re
ccives 50 dollars year interest : ir he do
pusits the same sum in this National Saw
ings' Bank he receives 73 dollars. For
those who wish to find raic, convenient and
profitable means Of investing tho SUI plusearn-
ings whicI, they have reserved for their old
nge, or for the benefit OF their children,
there is nothing which presents 80 many nd.
vantagts US this National Loan. .i 9f gsi
IL IL convertible into six per cent gold
bearing bond. At the expiration Of three
years holder Of the notes oi the 7.30 loan
has the option Of accepting payment in ful!
or Of funding his notes in a six per cent. gold
interest bond. the principal payable in not
less than i've nor more than twenty years
frum its datc as the Government may olcc'.
For six months past. these bonds have rang
cd ut an average prsmiumi OF about eight per
cent. In the New York market, and have sold
at 100 to day (Aug. l2th) thus making tho
real rate of interest over ten per cent; and
besides. 20 make the induccment still grcatcr,
Congress by special act cxeu'pts its Treasury
no,cs from State and municipal taxation.
C,u,Id ,Shvlock nsk more Was patriotism
ever so literally rswarficb?--iinpsr's Maga
sine. ifsi % 'ti n
Somo Of the Rhode Island mills hays 70
Gently begun working ''croIm'' or FAX wool,