Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1864-08-05
4 New Popular LOan-PatriOttc
Appeal Of Secretary Fesscnder.
WAsIirSuroS, JULY 25

600 Of Treasury notes, &c, has to-day
given notice that subscriptions will be re-
ceived by the Treasurer of the U. s., tho
several assistant treasurers, repositories,
Sc, the notes payable in three years from
Aug. Is, 1864 bearing interest at tho rats
of 7 $40 per cent, per annum, with semi.
annual coupons attached, payable in law
full money. .8 ..-.
These notes will be convertible, at the
option of the holder INTO 6 per cent. gold
bearing bonds. rcdcemable in and pay.
able in 20 years from Aug. Is, 1861.
The notes will re issued in denomina-
tions of $50, 500, $500, $1,000 and 5000.
and in blank or payable to order, as may
be directed by the subscribers.
All subscriptions must be for $50 or
some multiple of $50, interest must be
allowed to Aug. Is on all deposits made
prior to that date, and paid by the Depart
ment upon the receipt of the original GER
tificates.
As these notes draw interest from Aug,
10, persons making deposits subsequen mt
to that date must pay the interest accrued
from the date of the deposit.
Parties depositing $500 and upwards
for these notes at any time, will be allow
ed commission of IA of one per cent.
which will be paid by the Treasury depart
ment upon the receipt of the bill for the
amount certified to by the officers with
whom the deposit was made. No deduct.
ions for commissions must be made FROM
the deposits,
Accompanying this advertisements, in q
circular from is an appeal by Secy Fes.
senden to the people Of the United States.
He says:
Up to the present moment you have
readily and cheelfuly afforded the means
necessary to support your government in
this protracted struggle. 1t is your war;
ven proclaimed it and YOU have sustained it
against traitors everywhere with a patriot
ic devotion unsurpassed in the worlds his
tory. The securities offered are such as
should command your ready confidence
Much effort has been made to shake the
public faith in our national credit, both ut
home and abroad As yet we have asked
no foreign aid. Calm and self-reliant, our
own means have thus far proved adequate
to our wants. They are yet ample to meet
those of the present and future. 1t re-
mains for patriotic people to furnish the
needful supply.
The brave men who are fighting our
battles by land and sea must be fed and
clothed. Munitions of war Of all kinds
must be furnished, or tie war must end in
defeat and disgrace
This is rot the time for any lover of his
country to inquire as to the state of the
money market, or ask whether he can 80
invest his surplus capital rs to yield his" =
large return. No return and no profit
can be desirable if followed by national
dissolution OF national disgrace. Present
profit thus acquired is but the precursor Of
futulc Ind speedy destruction.
! No investment can De 80 surely prOfita-
bic as that which tends to insure the na-
tional existence. | am encouraged in tho
belief that by the recent legislation OF Con-
gress, our finances may soon be placed up
on sounder and more stable footing.
am happy to say that the daily results
are proving the internal revenue act to ex-
coed in efficiency the most sanguine expec.
tations of its authors. In June, 1868, it
Welded about four and half millions.
while the corresponding month of this year
has returned about fifteen millions under
the same law. Under the new law, which
went into operation on the first day Of the
present month, the Treasury has frequent
Iiy received one million day. As time
and experience enable the officers employ
ed in collecting the revenue, to enforce the
strength Of the provisions of the new law.
/ trust million per day will be found the
rule and not the exception. There is still
much space undoubtedly left for improve
ment in the law and i'll its administration,
as greater amount of necessary informa-.
ton is acquired. The proper sources Of
revenue, aud most effective mode of OBJ
tanning it, is best dcvelopefin the efecu-
ton of existing laws; and have caused
measures to be initiated which will, it is
belived, enable Congress so to improve and
enlarge the system, as when taken in con-
Inection with the revenue from Customs,
and other sources, to afford an ample and
secure basis for the Nat!ona, credit.
Only on such a basis, and in steady
and vigorous restraint upon the currency.
can remedy he found for existing evils.
Such ii restraint can only be exercised when
the Government is furnished with the means
to provide for its necessities, but without
the aid of the patriotic people, the arms OF
the Government Is poWerless for this OF
anv other desirable end.
The denomination Of the notes proposed
ia be issued, ranging from $50 to 5000.
place these sccHrities within the reach OF
all WHO arc disposed 10 aid the country
For their redemption the faith and honor
and property Of the country are solemnly
pledged. A successful issue to this contest
is now believed to be near at hand, which
will greatly enhance their value to the
holder; aud peace once restored, all bur
dens can he lightly borne. He who sci.
fshly withholds his aid in the hope OF
: turning his available means TO greater
immediate profit, is specializing upon his
country's mfsfor;ines, and may find that
what seems to be present gain leads to fu-
turc loss.
! appeal, therefore, with confidence to q
loyal and patriotic people, and invoke the
efforts of all who love their country, and
have desire for its glorious future, to aid
the Government In sustaining its credit
and placing that credit upon sound foun.
dation.
! (Signed) w. P. FESSENDEN,
Secretary of the Treasurys