The Alleghanian. [volume] (Ebensburg, Pa.) 1859-1865, 1864-08-04

Mr.. Fessenden, the new Secretary of
the Treasury, has issued the following
eloquent appeal in behalf of the Two Hun
dred Million Loan which he has placed in
the market -
TO THE PEOPLE OF THE UNITED STATES.
TREASURY DEPARTMENT, WASHINGTON,
July %, 1854
BY an act of Congress approved June
so, 1864, the Secretary Of the Treasury is
authorized to issue an amount not exceed
ing two hundred millions of dollars in
Treasury notes, bearing interest at a rate
not exceeding seven and three-tenths per
centum, redeemable after three years from
date, and to exchange the same for lawful
money. The Secretary is further autho-
rized to convert the same into bonds bear
ing interest at rate not exceeding six
per centum, payabIe-in coir. In pursu-
ance OF the authority thus conferred, l
now offer to the people of the United
States Treasury notes as described in my
advertisement dated July 25, 1864.
The circumstances under which this
loan is asked for, and your aid invoked,
though differing widely from the existing
state of affairs three years ago, are such
as afford equal encouragement and secu-
rity. Time, while proving that the strug-
gle for national unity was to exceed IN
duration and severity our worst anticipa-
tions, has tested the national strength,
and developed the national resources, to
an extent alike unexpected and remarka-
BILE, exciting equal astonishment at home
and abroad. Three years of war have
Iaht MI hrrf
three years since, would have seemed
beyond your ability to meet. Yet the
accumulated wealth and productive ener-
gies Of the nation have proved to be so
vast that it has beer borne with compara-
tive ease, aud peaceful future would
hardly feel its weight. As price paid
for national existence, and the preserya-
ton of free institutions, it does not deserve
moments consideration.
Thus far the war has been supported
and carried on, as it only could have been,
by people resolved, at whatever cost OF
blood and treasure, to transmit, unimpair-
red, to posterity, the system Of free govern
ment bequeathed to them by the great
men who framed it. This deliberate and
patriotic resolve has developed a power
surprising even to themselves. 1t has
shown that in less than a century a nation
has arisen, unsurpassed in vigor, and ex-
haustless in resources, able to conduct,
through series of Years, war on its most
gigantic scale, and finding itself, when
near its close, almost unimpaired in all
the material elements of power. 1t has,
at the prese mt moment, great armies in
the field, facing an enemy apparently ap-
preaching a period of utter exhaustion,
but still struggling with force the greater
and more desperate as it sees, and because
it sees, the nearer approach of final and
fatal consummation. Such, in my delib-
crate Judgment, is the present condition
of the greatest contest for civil liberty in
which you are now engaged.
Up to the present moment you have
readily and cheerfully afforded the means
necessary to support your Gov ernment in
this proIracted struggle. 1t is your war.
You proclaimed it, and you have sustained
it against traitors everywhere, with pa
triofic devotion unsurpassed in the worlds
history.
The securities offered are such as should
command your ready confidence. Much
effort has been made to shake public faith
in our national credit, both at home and
abroad. AS yet we have asked no foreign
aid. Calm and self-reliant, our own means
have thus far proved adequate to our