Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1864-08-25
The OBSERVATION-DISCLOSURES are
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The Seven-Thirties--W are
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We trust that large portion of our read
ers have pondered the Appeal Of Mr.. Fes-
sender, our new Secretary Of tho Treasury.
The purport Of IL is that the People Of the
United States, acting as a body through
their agent the Government, wish individ-
uals to lend them two hundred millions Of
dollars for three years, at seven and three
tenths per cent annual interest, payable
every six months. For this they offer TreaS
ury Notes-that Is, In reality, notaakSrawn
and endorsed by every man in thsk156ntry.
The loan is wanted for great national pur-
pose, to effect which every man, unless he
be traitor at heart IL not in act, issolemnly
pledged. '1 '''"qi'AeI ."E
The Appeal is addressed not merely to a
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 up.
ward. Every man who has fifty dollars can
take part in this loan. Apart from patri.
otism and the duty which all owe to their
country, no investment isso desirable as this.
1t is secure. Every dollar of every mans 8
property is pledged for the punctual pay
ment Of the interest, and of the. debt when
due. The security is incr easing in value. -
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 prices and constant de-
mand 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 United States, according to
the census of 1860, was $l6,l59,0OO, 900, of
which $l0,957, ,44S,956 was in the Loyal
States. This valuations. according to the u.s.
ual rule Of assessment, was not more than
two thirds of the actual cash value of the
property. The increase of property in the
Loyal States durisg the last ten years was
over l26 per cent, or an average Of II 6-lO
per cent. per anHum. 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 2O00,milions. De.
Quoting 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. ,r
No other Investment can be so easily CON.
vertible. The man who has Treasury note
Tor $50, or 800, or $1,000, can turn it into
money more readily, and uponIbetter terms,
than if itwere invested upon bond and mort
gage. or in railroad stocks
The interest offered is higher than can be
realized from any other safe and converti-
BILE investment. 1t is, moreover, readily
collectable when duo. To each note are af.
fixed five coupons" or interest tickets, due
at the expiration of each successive half
year. The holder of note has simply to cut
on one OF these coupons, present it at the
nearest bank of Government Agency, and
receive his interest," the note itself need not
be presented at all. Or q coupon thus pay.
able will everywhere be equivalent, when
due, to money. t--. i.. s.t.
Thus, while this loan presents great ad-
vantages to large capitalists, it offers special
Inducements to those who wish to make n
safe and profitable investment of small saving.
II is in every way the best Savings Bank;
for every institution of this kind must some
how invest its deposits proftably in order
to pay interest and expenses. They will
invest largely in this loan, as the best in
vestment But from the gross interest
which they receive they must deduct large
ly for the expenses Of the Bank. Their us
ual rate Of interest allowed to depositors is
per cent. upon sums over $500. phe per,
son who invests directly with Government
will receive almost SO per cent more. Thus
the man who deposits $1,000 in u private
Savings Bank receives So dollars year in
terest; if he deposits the same sum in this
National Savisgs' Bank he receives 73 dol.
lars. For those who wish to fiud safe,
convenient. and profitable means of invest
ing the surplus earnings which they have
reserved fer their old age or for the benefit
OF their children, there is nothing which
presents SO many advantages as this Nation.
al Loan. ~. g.s al-
II is convertible into six per cent. gold.
bearing bond. At the expiration Of three
years holder ofthe notes Of the 7-30 loan
has the option Of accepting payment 10 full
or Of funding notes in 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 market,
and have sold at los to-day (Aug. l2th,)
thus making the real rate Of interest over
ten per cent; and besides. to make the in
ducement even greater, Congress by special
Act exempts its Treasury notes from State
and municipal taxation. Could Shylock
ask more2 Was patriotism ever so liberaIly
Tewardeda-f Harper's Magasins.