Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1864-08-24
Adjutant and Inspector General.
THE SEvEN-THIRTIES---w ARE

THEYe
We trust that large portion of our
readers have pondered the appeal of Mr..
Fessenden, 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 humid
red 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-that is,
in reality, notes drawn and endorsed by
every man in the country. The loan is
wanted for great national purpose, to
effect which every man, unless he be a
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 upward. 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
so desirable as this.
1t is secure. Every dollar Of every
mans property is pledged for the punct-
ual payment of the interest, and of the
debt when due. The security is increas-
ing in valie. For some years before the
war we were earning 1000 millions year
more than we spent. During the three
years of the war, owing to the high pric-
es 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
spent less than before. The total valua-
ton of the property of the United States
according to the census of 1860, was &c.,
100000, of which SlO.957, 44S, 955
was in the Loyal States. This valuation,
according to the usual rule of assessment.
was not more than two-th.rds of the act
ual cash value of the property. The in
crease of property in the Loyal States dur
ing the last ten years was over 1875 per
cent. or an average of IL Clio 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 5000 millions.
Deducting 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 investments can be 80 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 up
on better terms, than if it were invested
upon bond and mortgage. or in railroad
stocks. 8A auia
The interest offered is higher than can
be realized from any other safe and con-
veltiDle investment 1t is, moreover,
readily collectible when due. To each
note are affixed five coupons" or interest
tick1ts, due at the expiration Of each sue
cessive half-year, The holder Of a note
has simply to cut off. one Of these coll
pons. present it at the nearest bank or
Government Agency, and receive his in
terest; the note itself need not be pre-
sented at all. Or coupon thus payable
will everywhere be equivalent, when due.
to money. .,.t,.f 4..t ..f.i..
Thus. while this loan presents great
advantages to large capitalists, it offers
special inducements to those who wish to
make 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 de-
posts probably in order to pay interest
aud expenses. They will invest largely
in this loan. as the best Investment. But
from the gross interest which they receive
they N ust deduct largely for the expeu-