The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-08-20
T . TIL Il Pc OPLE OF
TBE UNITED STATES.


ny an act Of Consress approved June 1885, the 5ecss
ssTy OF the Treasury authorized TO smeunt
exceeding two hundred millions Of doilara in Treasury
Notes, bearing nieres at eeedins seven aod
three enths per tum. redeemabls three yesrS
from date and to exchange the for a~na money.
The Secretary Il fsrthor convert the SANE
into bor ds, bearing interest not exceeding
cenum. Aoe Ia Coin, In pursuance Autho-
rity thus conferred cer peOp the Uaited
States Treasury Notes deserb d 10 my Advertisement
dated Jul y 90, Ist4.
The TcumstAnoes under which this loan Is asked for
and your aid invoked, though dnehrg widely from
existing state Of affairs three years such Afford
equal encourss and security Time while provinK
that the stgse for national unity dura-
zion aud severity aniopacns has tested tue
national strength and developed the usObhi V
an extent alike unexpected and enrArkabIo oEcitag
equal astOuishment at h, and abroad Thros years n
have burdened you with deot which but three ysan
since, would have seemed beyond your bfiy 70 mset
Yet the accumulated wealth Ahd productive energies u
the nation have Pryed to be vast that has been bono
with compsra i've ard pescoui fsure would hardly
feel , welht. ASS prco paid fof national existence. and
TIE preservation Of ftc institutions, does not deserve q
moments consideration.
Thus he has supported and carried on a.
It only could have been, by people resoved whstevu
cost Of blood ana treasure to trassuit uniupsed To
pos'erity the system Of free bsqucathed 10
% great men who Trained This delberat~
patriotic resolve has developed power srprsns ,en 10
themselves. Itbas shoan that less than century o
nation has arisen unsurpassed Ia vyor exhau aess
IN resources, able TO conduct hrcdgh series OF years
war on ts most gigantic SCALE and dnding ITSELF wbeu
near IT. close almost unimpared IN all the
meEs Of plwer. IL at the present nent. great
armies in the held seirg apr aenty approach
inG period Of utter exhaustion. sI STRUGGLING with
iUTce the greater and more desperate sees and
cau'e II the approach Of final fe con-
sunma'iOu. Such in deliberate Judgment, Is the
Tresen, condition of the great contest for civil liberty In
which Tpu engaged.
Uptothc present moment you have readily and cheer
fully afforded ire csSaryto support your Gov
eInment In this rrotrsoied struggle II your war You
proclaimed Il, aud you have sustained 1t against traitor
everywlerc with patriotic devotion unsurpassed In tho
! WoIlds history.
Tie iecriities 0ford such 7ud eimmaad your
ready confidence. Much effort has been made to shake
ppbie faith IN national credit beth home eoa
hbrosd. A yet have ashed foreign aid. Calm
sol-Ieiait, thus proved adeQuats
10 our wants. They yet ample to eet those Of the
prcttnt and TIE fntuie. Il stu remains for pltotic
people 10 furnish the noedf supply. The bsaye who
fs'ing battles by land aud must be fed
clothed munitions Of Of all kinds be Furnished
the must end In dcfeG. and disgrace. This
the time for any lover Of his country inquire
state Of the mArNet, or ask whether he ca1 90
invest his turplus capt yield him larger return
10 return and prV6t be desirable followed By
national dissolution national Disgrace. Present prOat
thus acquired b but the precursor future and speedy
destruction. No lnyrs be so surely pro-
htable that whioh tends 70 insure the national
istence. lfstt
I'm encouraged in the belief by the legsa
tion Of Congress finances be placed upon
der and stable footing. The present deanse6
condition Of the Is imputabtr IN great deEre
20 disturbances arising from the Withdrawal Of necessary
checks often Inevitable in time OF when expenditures
mus iHgey exceed any possible supply OF coin. Tho op-
portunles sslted acquire suddsn wealth have
led to vicious speculAon consequent increase Of pcos
and yo'ent hueusiion The remedy be found only
Ia controlling the necessity which begets the evil
Hitherto have felt The need OF more extensive aod
vigorous taxation Severe has been made upon
what becm d to maby undue umdlty and taFdiness
OF Ac,i,n the part of Congress, In this regard.
deem It but Just 10 say that very great mlsapprehea
slon has existed ana perhaps stln exists upoa ths
point Leg sAtrs, lie all others, have much learn
In a new condition OF affairs An entirely new system
70 be devised asd that system must necessarily be
the growth OF time and experience. II is not strange
At first efforts should have proved imperfect and la
ad, QuRe, To lay heavv ba dens great and pat
ctc people IN such 10 be equal and u
occasion the amount Of suffering annoyance,
rcluirl time and cautor and vast LABOR; and. Siih
all these, Speicnce ntcdul 90 test the value Of the
system, AID correct lts Such has been tho
work which Conirts, called upon 80 perform.
an happy 60 say N daily re-us proving the In
,ernAl Rov,nuo act TO exceed IN efficiency the most
6sreuRc expectations its suthois IN the month OF
June 1869, yielded about four and one-hRlf millions
collars while the pondlng montl u shis rear
returned sbcut aileen Millions under tie same law
Uader q sw, whifh vent operation the arst
I day Il the present month"; the Treasury not unfrp
quenty olives million In 8 d.y, As time and eEps-
rienoe able ihe ooors emp oyed In colee0g the
20 enforce the stringent proyisl Of tke Law,
trust that million per day VIII be found the rule and
not the exception 6t mach space IL undoubtedly left
fn
gIoater OF necessary information IS acquired
The proper OF and the nost efoctve
modes ofobtAinng IT, best developed In the execution
OF existing laws. And have caused measures 10 be
Initiated which will, It Is believed enable Congress so 20
improve and enlarge the system as when AkeI IN con-
necon with the revenue from customs other sources.
to AFFORD ample and basis for tho national credit
only on such ba,is, and n steady and vigorous re-
strn uDon currency, remedy 30 found for existing
evils. Such restraint only bs exercised when the
Government is furnished with means provide fDr It's
necessities Bat without the aido patriotic people any
Government powsress this a1y other desirable
end.
The denominations 0f The notes proposed to be issued,
ranging om hfy TO I'VE Thousand dollars, place these
securities within the reach oG who are disposed 10 aid
their county For their redemption the faith and honor
and property OF that country soemnly pledged.
successful issue to this coEtss believed to DO near
hAnd will largely enhance their value to the holder; ant
peace restored an burdens be lightly borne HI
who ssnshy wihhoda mis- aid In the hope OF turning hl
svailabls means TO greater immediate pron speeuatinl
upon lie eountr5s mlsOrtnnes, and may that wha
TO be present gain leads only loss ap
peal erefore, with confidence TO lovL and patriot,
people, and Invoke Tie efforts OF an who their country
and desire for it glorious futare, aa their Government
IN sustaining It's credit and placing that credit upoa
stable foundation.
W. P. rESEENDEN.
suslasoaTa SECRETARY OF THE TREASURY.