The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1864-08-18
To the People of the United States.

BY an act Of Congress, approved June
80, 1864, the Secretary of the treasury is
authorized to issue an amt not exceeding
two hundred millions ofdollars in Treasu-
ry notes, bearing interest at rate not ex.
ceoding seven and three tenths per cent
um, redeemable after three years from
date, aud to exchange the same for law
full money. The Secretary is further au.
thorized to convert the same into bonds,
bearing interest at rate not exceeding
six per centum, payable in coin. In pur.
suauce of the authority thus conferred, l
now offer to the people of the United
States Treasury notes as described in my
advertisement dated July 25, 1864.
The circumstances under which this
loan is asked for, and your aid invoked,
though differing widely from the existing
state of affairs three years ago, are such
as to afford equal encouragement and Sc.
curity. Time, while proving that the
struggle for national unity was to exceed
in duration and severity our worst antici-
pations, has tested the national strength,
an developed the national resources, to
an extent alike unexpected and remarka-
BILE, exciting equal astonishment at home
and abroad. Three years Of war have
burdened you with debt which, but
three years since, would have seemed be.
yond your ability to meet. Yet the ac-
cumulated wealth ard productive ener-
gies of the nation have proved to be SO
vast that it has been borne with compar-
ative ease, and peaceful future would
hardly feel its weight. AS price paid
for national existence, and the preserva-
tion of free institutions, it does not de-
serve moments s consideration
Thus far the war has been supported
and carried on, as it only could have been,
by people resolved, at whatever cost of
blood and treasure, to transmit, unimpair-
ed, to posterty, the system of free gov
ernment bequeathed to them by the great
men who framed it. This deliberate and
patriotic resolve has developed a power
surprising even to themselves. 1t has
shown that in less than a century a ma
tion has arisen, unsurpassed in viyor, and
exhaustless in resources, able to conduct,
through series Of years, war on its most
gigantic scale, and finding itself, when
near its close, almost unimpaired in all
the material elements of power. 1t has,
at the present moment, great armies in
the field, facing an enemy apparently ap-
preaching period of utter exhaustion,
but still struggling with force the great
er and more desperate as it sees, and be-
cause it sees, the near approach of final
and fatal oonsummation. Such, in my
deliberate judgment, is TIE present con
dition of the great contest for civil liber.
ty in which you are now engaged.
Up to the present moment you have
readily and eheerfuIy afforded the means
necessary to support your government in
this proracted struggle It's your war.
You proclaimed it, and you have sustain.
ed it against traitors everywhere, with a
patriotic devotion unsurpassed in the
worlds history.
The securities offered are such as should
command your ready confidence. Much
effort has been made to shake public faith
in our national credit, both at 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 am pie to meet those
of the present and the future. 1t still
remains for patriotic people to furnish
the needful supply. The brave men who
are fighting our battles by land and sea
must be fed aud clothed, munitions of war
of all kinds must be furnished, or the war
must end in defeat aud disgrace, This
Is not the time for any lover of his coun-
try to inquire as to the state of the mo-
ney market, or ask whether he can so in
vest his surplus capital as to yield him a
large return. No return, and no profit,
can be desirable, if followed by national
dissolution, or national disgrace. Pres
ent profit, thus acquired, is but the pre-
cursor of future aud speedy destruction.
No investment can be SO surely profitable
as that which tends to insure the nation
al existence.
| am encouraged IN the belief that BY
the recent legislation of Congress cur
finances may soon be placed upon sound.
er and more stable footing The present
deraDged condition of the currency is i'm
putable, in great degree, to disturban.
ces arising from the withdrawal of neces.
sary checks, often inevitable in tine of
war, when expenditures must largely ex.
ceed any possible supply of coin. The
opportunities thus presented to acquire
sudden wealth have led to vicious specu.
lation, consequent increase in prices,
and violent fuctuation. The remedy is
to be found only in controlling the neces.
sity which begets the evil. Hitherto we
have felt the need Of more extensive and
vigorous taxation. Severe comment has
been made upon what seemed to many an
undue tjmidity and tardiness of action,
on the part of Congress, in this regard.
l deem it but just to say that very great
misapprehension has existed, and perhaps
still exists, upon this point. Legislators,
like all others, have much to learn in
new condition of affairs An entirely
new system was to be devised, and that
system must necessarily bo the growth of
time and experience. It is not strange
that first efforts should have proved i'm