New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-08-04
A PEOPLES LOAN.

II seems to us essential TO the speediest sue
cess of Mr. Fessenden's proposal for loan OF
5000 600, 600, that pains should be taken to
make it, in all proper ways, Peoples loan.
We believe that the relations between People
and Government ought TO be close, intimate,
and confidential, and thai tie more directly the
two are brought in contact, tho more eHectual
will be the support given by one TO tho other.
Especially ought it to be so in this crisis, in
wer which, more than ever before in the history
of the world, is the Peoples war, carried
on not for territorial conquest nor in aid OF dy-
nastic ambition. but to preserve those rights
which our fathers declared to be inalicnable, by
preserving the form Of government bequeathed
from them as the best bulwark Of those rights.
Aud there is no way in which the People can at
this crisis so eifectually manifest their resolve
to crush tho Rebellion as by lending TO the
Government the money needful for car
rying on the war. To which end We believe
it desirable that the opportunities Of subscription
to the new loan should be az numerous and as
widely disseminated rs possible.
should be constituted agents to receive
subscriptions fox tho 7.30 Treasury notes,
and the plan seems TO us practical and
feasible. We believe there is no village so small
thus bo induced TO lend the Government money
which he would otherwise hoard, or invest less
to his own interest and that of the country.
Throughout the States, and especially in their
less populous sections, there is great lack of in.
formation among the people, both as TO the
financial necessities Of the Government and as
TO the advantages which its loans offer for in
vcstment. The class people whom we want to
reach are not the customers OF banks, and will
not be approached through the ordinary cham
nels of financial supply. They are the farmers
in Ear inland towns, the artisans, the laborers,
the small sbopkcepers all of whom, because of
the high price of labor and Of crops. are in pos
session of more money than usual. The tend
ency with them is to hoard it, simply for want
Of knowing how to use it, whom to trust with
il, and how it cen safely be made to yield them
interest. They are the people whom only local
agents could get access to, and probably the
Postmasters would be. on the whole. the tltest
persons, being already in posts Of trust and re-
sponsib,lity, and having the easiest means Of
regular communication with another branch of
the Government. They are known TO the people,
and arc tho centers of resort to such IN extont
that they can reach greater numbers OF people
than any other class of agents or officers. Why
should they not be employed to urge Ipon loyal
citizens the advantage ana necessity Of Govern
mont loans !
We are of those who reckon it in this emer-
gcncy patriotic duty-the duty of each Amer
lean citizen as citzen-to lend to the Govern
ment all the money which he has to invest in
any kind of security, be it $50, or 500, or
800, 900. We believe also that on the whole
there is no form in which money can now be
put at interest which will finally yield so large
a return as tho stocks, bonds, Treasury notes,
and other securities Of the Government. Yet
we reject utterly tho opinion set forth in Cop
perhcad. mercantile journals that all considera-
tons Of patriotic duty are to be put aside in
matters Of fnance-that patriotism where