Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-08-01
From the N. Z. POST


Mr. Fessenden has justified the expecta-
ton Of those who knew himIbest, as we'll as
of the whole country, by the course he has
takeh IN relation to the new loan Of two
hundred millions of dollars authorized by
the act Of Congress of June last. Instead OF
attemptingto negotiate foreign loan which
would have been humiliating TO the nation
al pride, while 1t would have given courage
to our enemies, or relying upon the banks
and the loan-mongeFB, whose self-intereBt
would have been the only motive in their
action, he makes 4 direct and manly appeal
to the people in an address whose patriotic
motive cannot fail to touch the popular
heart. This address is one OF the ablest
and mostJ statesman like papers that have
been, issued from Washington since the
commencement OF the war, It is at once
eloquent, terse, simple, and comprehen-
sive. He simply says to the people, This
is your war, and this is your. loan for its
support; upon its success must depend the
preservation of your national existence,
your liberties. and your personal property.
That the response on the part of the people
will fully justify the confidence OF the gov
ernment in their patriotism and good sense
we haVs not the slightest doubt. A prompt
response viii be 'tfoubly valuable, in con-
vineiug our rebel countrymen, and their
aiders and abettors abroad, of the determi-
nation of the loyal people Of the North to
persevere until the rebellion shall have
been utterly suppressed and the Union re-
stored In Rllits integrity and prosperity.-
The country will take heart, too, from the
calm and confident assurances Of Secretary
Fessenden Of the encouraging condition Of
our financial affairs and the favorable
working of theOneW regulations of the In
ternal Revspue. Department, the receipts
from which, It seems, are about a million Of
dollars dayf
) The terms pf fhe new loan are SO favor.
able 70 the Tender that they must tempt
many to investIu it from pure motives Of
economy, alf other considerations apart
1t is proposed to issue Treasury notes pay
able three yeaga from August 10th, 1854,
bearing interest at the rate of seven and
three .teuths pet cent. per annum, with
semi. annual coupons attached, payable In
lawful money, These notes will be con-
Vertible at the, option; Of the holder, at
maturity into six per cent. gold. bearing
bonds, redeemable, after i've and payable
twenty years from August 18th, 1857
The notes willlbe issued in denominations
of fifty, one hundred, i've hundred, one
and Eve thousand dollars, and
or payble TO order, as may be
directed by the subscribers. All sabscrip-
lions must be for fifty dollars or some mul-
tiple of fifty dollars. Interest will be al
lowed to August 10Th on all deposits made
prior to that date and paid by the depart
ment upon receipt Of these original oertih
Gates. As the notes draw interest. from
August 10Th, persons makiDg deposits sub
seuuent to that date must pay the interest
from the date of the note to the
date Of the deposit.
The agents authorised to receive sub
scriptions for the loan are the National
Banks, SubTreasurers and other authorised
but any one may act as q
agent in the neighborhood where
there is no National bank, and where the
amount of twenty Eve thousand dollars, or
more is obtained, commission OF q quar-.
ter Of one per cent. will be allowed by the
There is no doubt that many
millions Of dollars in small sums, in green
backs, and in gold, are boarded up In re-
mote parts Of the country, which might be
brought out and invested in this loan If
pains were taken to disseminate its object
and its condition. IL would have been
well, perhaps, II the secretary had author
ized all government officers, such as post
masters and revenue, collectors, 70 act as
agents for receiving subscriptions, TO the
loan, and q commission allowed upon all
sums exceeding thousand dollars, as by
that means every township and village in
the country would have been reached, and
the full amount of the loan been more rap
idly absorbed. We shall never Waver in our
faith of the triumph Of the Union cause
while we have soldier left in the field;
but, IL any thing could shake our faith, or
cause misgiving In the courage Or forti-
tude of our countrymen, 1t would be their
failure to meet the demand now made up.
on them by the government. It is de-
mand which must be met, as the sailors
say in time of preril, with long pull,
strong pull, and pull altogether.