The Portland daily press., 1864-07-26
By TELEGRAPH
ToTHE
Portland Duly Press.
From Washington - Nesc Issue Of Treasury
Notes Circular Of Sec, IesseHdcn.

WASHINGTON. July %.
Moses Taylor has been appointed Assistant
Treasurer az New York, tosucceed Mr.. Cisco,
whose continued i'll health compels him to re-
tire from the office.
A dispatch to-day from Gen. Sherman states
that his loss in the battle OF Friday was less
than 1000, while that OF the enemy cannot be
less than 1000, owing to the advantage he
took OF their effort to turn his left column
There Is no official information to show that
our forces have entered Atlanta.
Secretary Fessendeu. under the authority of
an act Of Congress passed in June last, to is
sue an amount not exceeding 500 100000 in
treasury notes, DC, has to day given notice
that subscriptions will be received by the
Treasurer OF the United States, the several
Assistant Treasures, and designated deposi-
tories and financial agents, and by national
banks designated and qualified as repositories.
and financial agents Tor treasury notes, paya-
BILE in three years from August 25th, 1864.
beating interest at the rate of $40 per cent
per annum, with semi annual coupons attach
ed, payable IN lawful money. These notes
will be convertible at the option of the holder
at maturity into per cent gold bearing bonds,
redeemable in five and payable in twenty
years from August 18th, 1861. The notes will
be issued in denominations of $50, $780, $500,
$1,000 and $4,000, and in blank or payable TO
OiitFs Us HltN NC ny Tue SuDScIlDcrs.
All subscriptions must be for fifty dollars or
some multiple of ilty dollars interest to be
allowed to August 18Th ON all deposits made
prior to that date, and paid by the Department
upon receipt of these original certificates As
these notes draw interest from August 18th,
persons making deposits subsequent to that
date, must pay the interest accrued from the
date OF the note to the date uf the deposit
Parties depositing $4,000 and upwards for
notes at any one time. will be allowed a com
mission of one fourth OF one per cent, which
will be paid by the Treasury Department mp
on the receipt of the bill for the amount certi-
lied TO by the officer with whom the deposit
was made No deduction for commissions
must be made from the deposits
Accompanying this advertisement in a cir
cular form, is an appeal by Secretary Fessen-
den TO the people OF the United States. He
says:
up to the present moment you have read
lily and cheeriully afforded the means neces-
airy to support your government in this pro-
tTacted struggle. 1t IS your war. You pro-
claimed IL and you have sustained it against
traitors everywhere with patriotic devotion
unsurpassed in the worlds history. The Sc
curites offered are such as should command
your ready confidence. Much effort has been
made to shake the public faith IN our national
credit, both at home and abroad. As yet we
have asked no foreign aid Calm and self re-
liant our own means have thus far proved adj
equate to our wants and they are yet ample
to meet those OF the present and future. II
still remains for patriotic people to furnish the
needful supply. The brave men who are
lighting our battles by land aud sea, must be
fed by aud clothed, and munitions of war of all
kinds must be furnished or the war must en-
dure defeat and disgrace. This is not the time
for any lover Of his country TO inquire as TO
the state of the money market or ask whether
he can SO invest his surplus capital as TO yield
him large return. No return and no profit
can be desirable If followed BY national DISCO
luton or national disgrace. Present profit
thus acquired is but the precursor OF future
and speedy destruction. No investment can
be so surely profitable rs that which tends to
insure the national existence. | am encour-
aged ia tue belief that by the recent legisla-
ton OF Congress our finances may soon be
placed upon soundar and more stable foot
lug.
am happy to say that the daily results are
proving the Internal revenue act to exceed in
the most sanguine expectations of
its authors.
In June 1868, it yielded about four and
hall millions, while the corresponding month
OF this year, has returned about fifteen mil
lions, under the same law. Under the new
law. which went into operation on the first
day OF the present mouth, the treasury has
frequently received one million a day. As
time and experience enable the officers en-
ployed in collecting the revenue, to enforce
the strength of the provisions of the new law,
| trus, million per day will be found the rule
and not the exception.
Still much space is undoubtedly left for i'm
provement in the law. and in its aiministra-
ton. as q greater amount of necessary infor-
na l. arpr.reI ha ~
revenue aud most effective mode of obtaining
ii IS best developed in the execution of exist
iog laws, and | have caused measures to be
Initiated which will, 1t Is believed, enable Con-
gress SO to improve and enlarge the system as
when taken in connection with the revenue
from customs and other sources to afford an
ample and secure basis for the national credit.
Only on such basis and in a steady and Wig
orous restraint upon the currency can a rem
edy be found for existing evils. Such a re-
straint can only be exercised when the Gov
eminent is furnished with the means to pro-
vide for its necessities. But without the aid
cf the patriotic people The arms Of the Gov
eminent is powerless for this or any other de-
sirable. The denomination of the notes pro-
posed to be issued. ranging from $50 to 5000.
places these securities within the reach OF all
who are disposed to aid their country. For
their redemption the faith and honor and prop
erty of the country are solemn'y pledged. A
successful issue TO this contest is now believed
TO be near at hand, which will largely enhance
their valne TO the holders, and psace once re-
stored, all burdens can be lightly borne.
He who selfshly withholds his aid in the
hope of turning his available means to greater
immediate profit, is specializing upon his
country's misfortunes, and may find that what
seems to be present gain, leads to future loss.
appeal. therefore, with confidence to a loyal
and patriotic people, and invoke the efforts of
all who love their country and desire for It's
glorious future to aid their government in
sustaining its credit, and placing that credit
upon a sound foundation.
lSignedl w. p. FEssESDEN,
Secretary Of the Treasury.