Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1864-08-26
The Seven Thirties-What are
they ?

Fessenden, our new Secretary of the
Treasury. The purport of it is that the
People of the United States, acting as {
body through their agent the Govern
ment, wish individuals to lend them two
hundred millions of dollars for three
years, at seven and three tenths per cent
annual interest, payable every six months
For this they offer Treasury Notes-tha
is in reality, notes drawn and endorsed
by every man in the country. The loar
is wanted for a great national purpose
to effect which every man, unless he be {
traitor at heart, if not in act, is solemnlJ
pledged.
The Appeal is addressed not merely
to few great capitalists, but also to the
many whose aggregate meaus constitute
the mass of the wealth of the land. The
notes upon which this loan is asked are
from $50 upward. Every man who has
fifty dollars can take part in this loan.--
Apart from patriotism and t h e duty
which all owe to their country, no invest
ment is so desirable as this.
1t is secure. Every dollar of every
mans property is pledged for the pune
tual payment of the interest, and of the
debt when due. The security is increas-
ing in value. For some years before the
war we were 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 before. No
man who could or would work has been
idle: and, except for the war, we have
srent less than before. The total valua-
ton of the property of the United States,
according to the census OF 1860, was
/ $16,159,000,000, of which S10,957, 446,
d
go, was in the Loyal States. This val
uation, according to usual rule Of assess
ment, was not more than two-thirds of the
actual cash value Of the property. The
increase of property in the Loyal States
during the last ten years was over l29
per cent, or on an average of II Clio
per cent, per annum. In three years of
the war we of the United States have GER
tainly earned 5000 millions more than
we have spent apart from the war. II e
cost Of the war may be set down at 1000
millions. Deductiog 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 easily
convertible. The man who has a Treas
ury note for $50, or 500, or $1,000, can
turn it into money more readily, and w
on better terms, than if it were invested
upon bond and mortgage, or in railroad
stocks.
The interest offered is higher than can
be realized from any other safe and con
vertible investment. 1t Is, moreover,
readily collectable when due. To each
note are affixed five "coupons," or inter
est tickets, due at the expiration of each
successive halfyear. 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
interest the note itself need not be pre-
scented at all. Or a coupon thus payable
will everywhere be equivalent, when due,
to money.
Thus, while this loan presents great
advantages to large capitalists, it offers
special inducements to those who wish TO
make a safe and profitable investment Of
small saving. 1t is in every way the best
Savings Bank for every institution of
this kind must somehow invest its depos-
its proftably in order to pay interest and
expenses. They will invest largely in
this loan as the best investment. But
from the gross interest which they re-
ceive they must deduct largely for the
expenses of the Bark. Their usual rate
of interest allowed to depostors is 5 per
cent, upon sums over $500 The per-
son who invests directly with Govern
ment will receive almost so per cent.
more. Thus t h @ man who deposits
$1,000 in a private Savings Bank res
ceives $50 year interest if he deposits
the same sum in this National Savings
Bank he receives IS dollars. For those
who wish to find a safe, convenient, and
profitable means of investing the surplus
earnings which they have reserved for
their old age or for the benefit of their
children, there is nothing which presents
so many advantages as this National
Loan.
1t is convertible into a six per cent,
gold-bearing bond. At the expiration of
three years holder of the notes of the