Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1864-09-07
NJ. O. MESSER
81 Corpl. Co. c. 18th o V. V. |.
The Seven-Thfrties-W hat are
Theyl

- p'hbriFo INT hDpft1 III VA
F~essendeD, our new Secretary OF til
Treasury. The purport of it is thai tn
people of United States. acting az IA bod,
through then agent the Government
wish individuals to lend them two hun
dred millions al d"llsrs for three years, a
seven and three tenths per cent, annun
interest payable every six months. Fo
ehis they offer Treasury Notes-that i
in reality, notes drawn and endorsed hI
every man in the country. The loan il
wanted for II great national purpose, t.
effect which every man, unless he be a
traitor at heart if not in act, is solemnfv
pledged.
The Appeal is..addressed not merely K
a few--great capitalists, but also I O many
whose aggregate means constitute tn,
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 duty which
all owe to their country, no investment
is SO desirable at this.
1t is secure. Eve ry dollar of every
man property is pledged for the punctu
al payment of the interest. and Of the
debt when due. The security is increas
ing in value. For some wears before th'
war We were earning 1000 millions a yea
more thsn we spent. During tue three
years of the war, owing % the high pri
ces and constant demand for labor, we
nave earned more than ever before. NJ
man who could or would work has beer
idle; and, except for the war we hav'
spen: less than before. The total valua
tion of the property Of the United
States, according To the census OF 1860
was SIC, l59, DOC, 900, of which $40. 957 .448
CSC was in the Loyal States. This valu
alton, according to the usual rule o
assessment, was not more Than two-third.
Of the actu l:cash value of the property
The increase otproperty in the Loya
States during the last ten years was ovel
l26 per cent. OF an average of l26-l0 pei
cent. per snnum. I'm three years of the
war we of the United States have certain
ly earned 1000 millions more than we have
spent apart from the war. The cost Of
the war may be set down at 1000 millions
Deductimg this from our net earnings,
the people who 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 800, or $1,000, can
turn it into money more reaHiily, and up
on better terms, han if it were invested
upon bond and mortgage. o 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 f~ve"coupons' or interest
tickets, due At the expiration of each sue
cessive hslf-year. The holder of a note
has simply to cut off one of these cou-
pons, present it at the nearest bank or
Government Agency, and receive his in
~terest; the note itself need not be pre-
sented AT ali. Or a coupon thus payable
will everywhere be equivalent, when duo,
to money.
Thus, while this loan presents great
10 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
Savings Bank; Tor every institution
Of this kind must somehow invest its de-
posits proftably in order to pay interest
and expenses. They will invest largely
this loan, as the best investment. But
rom the gross interest which ihey re-
they must deduct largely for the
expenses of the Bank. Their usual rate
interest allowed 10 depositors is 5 per
cent upon sums over $500. The persons
who invest directly with Government vii
'eceive almost so per cent. more. Thus
The man who deposits SIO00,in a private
Bank receives so dollars u year
interest; it he deposits the same sum in
his National Savings Bank he receives
g dollars. For those who wish to find q
afe, convenient, and profitable means of
investing the surplus earnings which they
ave reserved for their old age or for the
'eneft CT their children, there is moth
ng which presents so many advantages
g this National Loan.
1t is convertible into a six per cent.
old-bearing bond. At the expiration of
hree years a holder of the notes of the
80 loan has the option of accepting pay
nent in full or of funding his notes in a
* per cent. gold interest bond, the prin-
ipal payable in not less han five nor
1ore than twenty years from its date as
he Government may elect. For six
lonths past, these bonds have ranged at
n average premium of about eight per
emit. in the New York market, and have
Did at IO9 to-day Aug. l2th). thus ma
ing the real rate of interest over ten
er cent. and besides, to make the in
ucement even greater. Congress by
oecial act exempts its Treasury notes
ON state and municipal taxation.-l
Guild Shylock ask more? Was patriot ]
m ever so literally rewardedH-Harpsrs
iun over and killed. |,
On Thursday NOR ming last, about 10 c