The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1864-10-13
The SeVen-ThirtieS are they ?

We trust that large portion of our read
ers have pondered the Appeal of Mr.. Fessen-
den, our new Secretary Of the Treasury
The purport of it is that the People of the
United States, acting as a body through
their agent the Government, wish individu-
ais to lend them two hundred millions of
dollars for three years, at seven and three
tenths per cent. annual interest, payable ev-
cry six months. For this they offer Treas
uary notos-that is, in reality, notes drawn
and endorsed by every man in the country.
The loan is wanted for great national pur-
pose, to effect which every man. unless he
be traitor at heart if not in act, is solemn
ly pledged.
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 patriot
ism and the duty which all owe to their
country, no investment is so desirable as
this.
1t is secure. Every dollar of every man s
property is pledged for the punctual payment
of the interest, and of the debt when due
The security is increasing 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
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, accord
ing to the census of 1860, was SIC, 159, 00O,-
900, ofwhich SO, 957, AS, 956 wasin the 10y
al States This Valuation, according to the
usual rule Of assessment, was not more than
two thirds of tine actual cash value of the
property. Tie increase of property in the
Loyal States during the last ten years was
over 1875 per cent per annum. In three
years Of the war we of the United States
have certainly earned 5000 millions mon
than we have spent apart from the war;
The cost of the war may be set down at g.
900 millions. Deducting this from our net
earnings, the People who are security for
this loan are 1000 millions richer to-day
than they were when the was broke out.
No other investment can be so easily con-
vertible. 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 or
mortgage, 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 due. 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 off one of these coupons, present it at
the nearest bank or Government Agency,
and receive his interest; the note itself
need not be presented at all. Or a coupon
thus payable will everywhere be equivalent,
when due, to money.
Thus, while this loan presents great ad- |
vantages to large capitalists, it offers special |
to those who wish TO make |
safe and profitable investment of small saw
ing 1t is in every way the best Savings |
Bank; for every institution of this kind
must somehow invest its deposits profitabIy
in order to pay interest and expenses. They
will invest largely in this loan, as the best |
investment. But from the gross interest
which they receive they must deduct large i
" for the expenses of the Bank Their US
sual rate of interest allowed to depositors is
per cent. upon sums over $3.50 The per-
son who invests directly with Government