Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1864-08-26
The seven Thirties-what are They.


We trust that large portion of our readers
have epondered the Appeal of Mr.. Fessenden, our
new Secretary of the Treasury. The purpOrt of
it is that the people fthe United States, acting
as body through their agent the government
wish individuals to lend them twohundred mill
ions of dollars for three years at 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 ? 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 ag-
gregate means constitute the wealth ofthe land.
The notes upon which this loan is asked are
from $50 upwards Every man who has fifty
dollars can take part in this loan. Apart from
patriotism and the duty which all owe f6 their
country no investment is so desirable as this.
1t is secure. Every dollar of every mans
property is pledged for the punctual payment
of the interest, and of thesdebt whendu The
security.is Increasing in value. For some years
before the warswe were earning 1000 millions
year more than we spent. During the three
years of the war, owing to the high prices 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
valuation of the property of the United States
according 10 the census of 1866, was $l6,1 1885,
100000, of which $l0,957, 1886 was in the
Loyal States This valuation, according to the
usual rule of assessment, was not more than twe-
thirds of the actual cash value of the property.
The increase of property in the Loyal States
during the last ten years was over l26 per cent,
or an average of l2 Clio per cent. per annum.-
T., e. IF fho off fboI tod
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 mill
IONS Dedueting this from our net earnings the
people who are security Tor this. loan are 1000
millions richer to-day than they were when the
war broke out.
No other investment can be so easily covert
ible The man who has Treasury Note for
$50, or 500, or $1,000, can turn it into money
more readily, and upon better terms, than if it
were invested upon bond and mortgage, or in
railroad stocks.
The interest offered is higher than can be re-
allied from any other safe and convertible in
vestment. 1t is, moreover, readily cOllectable
when due. To each note are affixed five "cou-
pons" or interest tickets due at the expiration of
each successive half year. The holder of note
has simply to cut off one of these coupons, pre-
sent it at the nearest bank or Government Agen-
cy, and receive his interest," the note itself need
not be presented at all. Or coupon thus pay
able will, everywhere be equivalent, when due,
to money.
Thus, while this loan presents great advanta-
ges to large capitalists, it offers special induce
ments 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 deposits profitably in order to pay interest
and expenses. They will invest largely in this
| loan as the bestinvestment. But from the gross
| interest which they receive they must deduct
l largely for the expenses OF the Bank. Their
usual rate of interest allowed to depositOrs is
per cent upon sums over $500. The person
who invests directly with Government will re-
| ceive almost SO per cent. more. Thus the man
who deposits $1,000 in a private Savings Bank
receives so dollars year interest; if he deposits
| the same sum in this National Savings Bank
| he receives 70 dollars. For those who wish to
| find safe, convenient, and profitable means of
| investing the surplus earnings which they have
reserved for their old age or the benefit of their
children, there is nothing which presents so ma
| ny advantages as this National Loan.
| 1t is convertible into per cent. gold-bear-
| ing bond. At the expiration of three years a
holder of the notes of the 7-30 loan has the OPP
tion of accepting payment In full or funding his
| notes in six per cent. gold interest bond, the
principal payable in not less chan five nor more
| than twenty years from its date as the Govern
ment 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 l09 to-day (Aug. l2,) thus
| making the real rate of interest over ten per
cent; and besides, to make the inducement
even greater, Congress by special act exempts
its Treasury Notes from State and Municipal
n i Alr,,o,w .nN
riotism ever so literally rewAded?-HGpe''S S
lIltoror