The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1864-08-24
INC ESQ Government Loan.

are apparent on their face, but there are
others that will be best understood after
consideration. Among them there are.
It's ABSOLUTE SECURITY.-Nearly all
active credits are now based on Govern
ment securities. Banks of issue and Sa-
wings banks hold them in large quaint
ties-ir many cases, more than the entire
amount of their capitals-and they bold
them as the very best and strongest in
vestment they could possibly make. 1t
it were possible to contemplate the fnan-
cial failure of the Government, no bank
would be any better or safer. Savings
Banks already have a large part of their
assets invested in Government securities.
As a ;ule they allow but five per cent. in
t%erest, and can only pay principal or in
terest in greenbacks or bills of State
Banks,-for every note or bond held by
them and due before the resumption of
specie payments is payable in Government
legal tender paper. Banks Of issue and
discount can not ask or get anything bet
ter in payment of custom rs' notes, and
they prefer it to all other, for they are
compelled to redeem their own notes in
that paper as the circulating medium
next to specie in value. By the issue of
this loan the u. S. Treasury becomes a
SaUings bank for the people. There are
none stronger-none more solvent, and
not one that pays SO literally for the use
of money. You may deposit fifty dollars
or fifty thousand. The more you put in
the moreyou will aid and strengthen the
Government, and the more valuable will
be the remaining currency of the coun-
try.
It's LIBERAL INTEREsT.-The general
rate Of ~intesest is six per cent, payable
annually. This is seven and three tenths,
payable ~semai-annuoUy. If you lend on
mortgage, there must be a searching OF
titles, lawyers fees, stamp duties and de-
lays, and you will finally have returned
to you only the same Kind of money you
would receive from the Government, and
less of it. IF you invest in this loan, you
have no trouble. If there is no National
bank at hand, any banker will obtain it
for you without charge, and pay you the
interest coupon at the end of six months
us a most convenient form Of remittance
to his city correspondent. IF you wish
to borrow ninety cents on the dollar upon
it, YOU Eave thu highest security in the
market to do it with. If you wish TO sell,
it will bring within a fraction of cost and
luleISSb az duJ Onicu IL IA VIC fSiJ
handy to have in the house.
It's CoNVERTIBILITY INTO A SIX E
CENT BoNp.-Herc comes an advantage
hat must not be lost sight of. At the
expiration of three years the holder of the
notes of the 7-30 loan has the option OF
accepting payment In full or Of funding
his notes in a six per cent. gold interest
bond, the principal payable in not less
than five nor more than twenty years from
its date as the Government may elect
For six months past, these bonds have
ranged at an average premium Of about
eight per cent. in the New York market,
and have sold at 100 today (July 29).
Before the war, U. S six per cent. stocks
sold at a much higher rate-and were
once bought up by the U. S.. Treasury
under special act of Congress at a premi-
um of not less than twenty per cent.
There is no doubt that this option Of con-
version is worth at least two or three per
cent. per annum to the subscriber to the
loan, THIS increasing the actual rate Of
interest to about ten per cent. Notes of
the same class issued three years ago, are
now selling at q premium that fully proves
the corrcc ness of thiss statement.
It's EXEMPTION FROM STATE OF MU-
| lOlHAL III dA
the advantages we have enumerated. a
special Act of Congress erempts all bonds
and Treasury notes from local taxation.
On the average this exemption is worth
about two per can't. per annum, according
to the rate OF taxation in various parts OF
the country. Can greater inducements
be asked for than those We have
ted?
TIL CooroRoru 1c Tho Tr.oerr- hoe hoon
told that he must ''buy money at the high
he should sell his oblis ations "for what
they would bring" so as to lead the mar
ket; but the Secretary will do no such
thing. If Shylock bought bonds at nine,
ly in August, he would demand q conces
ton of aro'her ten per cent. in Septem.
Der, and twenty in October, until lie would
finally offer to lend only the interest and
keep the principal. If Government Sc
%curities are worth anything. theysre rich
ly worth all their face calls for in gold
and the country Is not so poor in spirit or
in purse as to submit to any such sacrifice
as Shylock demands. There is but a
limited supply of money seeking invest
ment at any time, and the Government
offers to pay literally for its use. At the
rate OF seven ana three-tenthS per cent
per annum, to say nothing of the collate
!, raj advantages, it is the strongest borrow
er in the market, and every feeling of in
%terest, as well as patriotism and duty
should induce our readers TO invest in it,
loans.
DRIFTING WITH THE CURRENT.-Siz
months g there was not a half a dozer
peace journals in the North. To-day
there are not half a dozen journals repre-
, senting or protesting to represent Demo
cratic principles, that are not committed
to support the proposition for an ARMS
tice and Convention of the States. W.
do not think that there are three s'aoa,
Den.ocratic' journals in the North. Thu
Evening Post that insists upon calling
. Itself Democratic, must be counted as ont