Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-08-31
The seven-TnITliss--what are
Thav

We trust that lFge portion Of our
readers have pouderd the Appeal of Mr..
Fessenden. our new Secretary of the Treas.
ury. The purport OF II is that the people
of the United States acting as a body
through their agent ths Government, Vish
individuals to lend Aem two hundred
millions OF dollars forfhree years, at seven
and three-tenths per sent. annual interest,
payable every six months. For this they
offer Treasury Notes-that is, in reality,
notes drawn and endosed by every man in
the country. The losn is wanted for a
great National puFposs, to effect which ev-
cry man, unless he BE- q traitor at heart II
not in act, is solemIly pledged.
The Appeal is addiessed to not merely
few great capitalists, but also to the many
whose aggregate means constitute the mass
of the wealth OF the land. The notes up.
on 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 punctual pay
ment of the interest, and Of the debt when
due. The security is increasing in value.
For some years before the war we were
earning one thousand millions year more
than we spent. During the three years Of
the war, owing TO the high prices and con-
slant demand for labor, we have earned
more than ever before. No man who could or
would work has been idle; aud, except for
the war, we have spent less than before. 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 1000 millions Deductipg this
from the net earnings, the people who are
security for this loan, are LOCO millions
richer to-day than they were when the
war broke out.
No other investment can be so easily con-
vertible. The man who has Treasury
note for $50, or 800, or $1,000, n.turh
it into money more readily, and upon bet
ter terms, than if it were invested upon
bond and mortgage, or in railroad stocks.
The interest offered is higher than can
be realized from any other safe and con-
vertible investment. Itis, moreover, readi-
ly collectable when due. To each note are
affixed FIVE "cOupons," or iRtsTeSt tieketSr
due at the expiration of each successive
half year. The holder of a note has simply
to cut of one of these coupons, present 1t
at the nearest bank or Government Agency,
and receive his interest; the note itself
need not be presented at all. Or coupon
thus payable will everywhere be equiSS-
lent, when due, to money.
Thus, while this loan presents great ad-
vantages TO large capitalists, it offers in
ducemeuts to those who wish to make
safe aud profitable Investment of small
Te fu ira the hest Nav.
ings' Bank for every institution Of this
kind must somehow invest it's deposits prof
itably in order to pay interests and expen-
ses. They will invest largely in this loani
as the best investment But from the gross
interest which they receive they must de-
duct largely for the expenses of the Bank.
Their usual rate of interest allowed TO de-
positors is 8 per cent. upon sums over $500.
The person who invests directly with Gov
ernment will receive almost 90 per cent.
more. Thus the man who deposits 81 ,O0o
in a private SayIugs' Bank receives so dol
lars year interest; if he deposits the
same sum in this National Savings Bank
he receives T3 dollars. For those who wish
to find a safe, convenient, aud profitable
means of investing the surplus earrings
which they have reserved for their old age
or for the benefit of their children, there is
nothing Whlch presents 80 many auVAhLA-
ges as this National Loan.
1t is convertible into six per cent. gold
bearing bond. At the expiration of three
years q holder OF the notes Of the Z 80 loan
has the option of accepting payment 10 full
or of funding his notes in a six per cent.
gold interest bond, the principal payable in
not less than Eve 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 mar
ket, and have sold At 1os to, day Aug. l2),
thus making the real rate of interest over
ten per cent; aud besides. TO make the in
ducements even greater, Congress by spe-
cial act exempts it's Treasury notes from
State aud municipal taxation. Could Shy
lock ask more7 Was patriotism ever so
literally rewarded t-HarPer's Magazine.