Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1864-09-01
The Seven-Thirties- are thew?

We trust that large portion of cul
readers have pondered the Appeal OF
Mr.. Fessenden, our new Secretary OF
the Treasury. The pnrport of it is
that the People Of the United States
acting as a body through their agent
the Government, wish individuals to
lend them two hupdred millions of dol,
lars for three years, at seven and three
tenths per cent. annual interest, paya-
bic every six months For this they
offer Treasury Notes-that is, in real
itY, notes drawn and endorsed bv ev-
cry man in the country. The loan is
wanted for great national purpose,
to effect which every man, unless he
be a traitor at heart if not in act, is
solen1nly pledged,
The Appeal is addressed not mere
Iy to few capitalists, but also 10 the
many whose aggregate means consti-
tute the mass Of the wealth OF the
land. The notes upon which this loan
is asked ere from $50 upward. Eve
ry man who has fifty dollars can take
part III this loan. Apart from patriot
ism and the duty which all owe to
their country, no investment is SO de-
Slrable Us this.
1t is secure. Every dollar Of every
mans property is pledged for the
punctual payment of the interest, and
of the debt when due. The security
is increasing in value. For some
yearSbcfore the war we were earning
1000 millions year more than we
spent. During the three years Of the
war, owing to the high prices and con
stant demand for labor, we have earn
ed more than ever before. No man
who could or woNld work has been
idle; and, except for the war. we have
spent less than before. The total val
uation of the property of The United
States, according to the census ofI66O,
was Sl6,l59, 100000, of which $lO,-
957 ,44S, $50 was in the Loyal States.
This valuation, according to the usual
rule OF assessment, was not more than
two thirds of the actual cash value of
the property. The increase of prop
erty in the Loyal States during the
last ten years was over l26 per cent.
or an average of II Clio per cent. per
annum. III three years OF the war we
of the United States have certainly
earned 5000 millions more than we
have spent apart from the war. The
cost OF the war may be set down at
1900 millions. Deducting this from
our net earnings, the People who are
security for this loan are 1000 millions
richer to-day than they were when the
war broke out.
No other investment can be so easi-
~ convertible. The man who has q
Treasury note for $50, or 800, or
$1,000, can turn it into money more
readily, and upon better terms, than il
it were invested upon bond and mort.
gage, or in railroad stocks.
The interest offered is higher than
can be realized from any other safe
and convertible investment. 1t is.
moreover, readily collectable when
due. To each note are affixed five
SobpoHo, VI |t0cFGSt tCChtCS, ulic dt
the expiration of each successive half.
year. The holder of note has sim.
ply to cut of one Of these coupons,
present it at the nearest bank or Gov.
ernsnent Agency, and receive his in.
terest; the note itself need not be pre-
sented at all. Or a coupon thus pay,
able will everywhere be equivalent
when due, to money.
Thus, while this loan presents great
advantages to large capitalists, it of
ters special inducements to those who
wish to make safe and profitable in
vcstment OF small saving. 1t is in ey
cry way the best Savings Bank; fol
every institution Of this kind mus
somehow invest its deposits proitabl,
II II, order to pay interest and expenses
ihsy will invest largely in this loan
as The best investment. But from thu
gross interest which they receive the,
6 must deduct largely for the expense
OF the Bank. Their usual rate of i,,
, terest allowed to depositors is pc
| cent. upon sums over $500. The rer
, son who invests directly with Govern
ment will receive almost so per cen,
more. Thus the man who denos;,
: sIOo0 in a prlvate Sayinus, P,aI -