Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1864-08-26
THE SEVEN-THIRTIES-WHAT
ARE THEY

ers have pordered ;he Appeal Of Mr.. Fes-
senden, our new Secretary of the Treasury.
The purport 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 hundred millions of dollars
for three years. at seven and three-tenths per
cent. annual interest, payable every months.
For this they offer Treasury Notes-that is,
in reality, notes drawn and endorsed by eve
~ man in the country. The loan is wanted
for great national purpose, to effect which
every man, unless he be traitor at heart If
not in act, is solemnly pledged.
The Appeal is addressed not merely TO
few great capitalists, but also TO the many
whose aggregate means constitute the mass
OF the wealth of the land. The notes upon
which this loan is asked are from $50 up.
ward Every man who has fifty dollars can
take part in this loan. Apart from patriotism
and the duty which all owe to their country,
no investment is 80 desirable as this.
1t is secure. Every dollar Of every mar's
property is pledged for the punctual payment
Of the interest, and Of tue debt when due.
/ The security is increasing in value. For some
years before the war we we're earning 1000
millions a year more than we spent. During
the three years Of the war, owing to the high
prices and constant demand for labor we have
| earned more than ever fore. No man who
could or would work has been idle and, ex-
cept for the war, we have spent less than be-
fore. The total valuation of the property Of
the United States, according to the census OF
1860, was Sl5,I50, 900 900. OF which Sl0,-
957, AIS, $50 was in the Loyal States. This
/ valuation, according to the usual rule Of as
sessment, was not more than two-thirds oi
1 the actual cash value of the property. The
! increase Of property in the Loyal States dur
/ ing the last ten years was over l26 per cent,
/ or an average Of 20 10 per cent per annum.
/ In 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 2000
millions Deducting this from our net earn
/ ings, 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 easily con-
vertibe. The man who has a treasury note
for $50, or 500, or $1,000, caa turn it into
money more readily, and upon better terms,
than if il 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 collec-
table when due. To each note are affixed
FIVE coupons" OF interest tickets, due at the
expiration Of each successive half-year. The
holder Of note has simply TO cut off one OF
these coupons, present it at the nearest bank
or Government Agency, and receive his in
terest; the note itself need not be presented
at all. Or coupon thus payable will every
where be equivalent, when due, to money.
Thus. while this loan presents great advan-
tages to large capitalists, it offers special in
ducements to those who wish TO make safe
and profitable investment of small savings
1t is in every way the best Savings Bank
for every institution of this kind must some
how invest its deposits proftably in order tc
pay interest and expenses. They will invest
largely in this loan, rs the best Investment
But from the gross interest which they re-
ceiye they must deduct largely for the ex-
penses of the Bank. Their usual rate Of in
terest allowed to depositors is 5 per cent
upon sums over $500. The person who in
vests directly with Government will receive
almost so per cent. more Thus the mar
who deposits $1,000 in d private Savings
Bank receives so dollars year interest il
he deposite the same sum in this Nationa
Savings Bank he receives IS dollars. Fol
those who wish TO ma SAFE, convenient
and profitable means Of investing the surplu'
earnings which they have reserved for iheii
old age or for the benefit Of their children
there is nothing which presents 30 many ad
vantages as the National Loan.
1t is convertible into six per cent, gold
bearing tond. At the expiration Of thre
years a holder of the notes Of the 7.3O osi
has the option of accepting payment in iul
or Of funding his notes in six per cent golt
interest bond, the principal payable in no
less than FIVE nor more than twenty year
from its dates. as the Government may elect
For six months past, these bonds have rang
ed at an average premium of about eight pc
cent. in the New York market, and have sol'
at 100 to-day Aug. l2th,) thus making tn
real rate Of interest over ten per cent. an'
besides, TO make the inducement even great
er, Congress by special act exempts its Trea
suty notes from state and municipal taxation
Could Shylock ask more Was patriotism
ever SO literally rewarded s-HarPer's Adga
zine.
Thpre ia aound Draclical wisdom in thes