Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1864-09-02
The OBSERVATION-DISCLOSURES
are they /?

We trust that large portion of our
readers have ponatred the Appeal OF Mr..
Fessenden, our new Secretary OF the
Treasury. The purpprt Of it is that the
People of the United States, acting as n
hndv through their agent the Government,
wish individuals 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 Treasury Notes.-that is. in reality,
notes drawn aud endorsed by every man
in the country. The loan is wanted for a
great national purpose. to effect which
every man. unless he be q 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 aggregate means constitute the mass
of the wealth of the land. The notes
upon which this loan is asked are from $50
upward Every man who has fifty dollars
can take part in this loan. Apart from
patriotism and the dnty which all owe to
their country, no investment is SO desira-
bic as this.
Ills secure. Every dollar of every mans
property is pledged for the punctual pay
mcnt of the interest. and of the debt when
due. The security is increasing in value.
For some wears before the war we were
earning 1000 millions a year more than we
spent During the three Years of the war,
owing to the high prices aud 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 property of the Unit
ed States, according to the census OF ls6o,
was Ii, l59. 900 900, of which Sl0,91 ,iiS,-
956 was in the Loyal States. This valua-
ton, according to the usual rule of assess
ment. was not more than two-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 annunr. In three years of the war of
the United States have certainly earned
5000 millions more than we have spent
apart from the war. The cost of the war
NAV be set down at 1000 millions. 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.
NJ uttltI Cdu It eO tdSilt
convertible. The man who has Treas
ury 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 realized from any other safe and CON
ycrtihle investment. Its. moreover, read,
| ily collectable when due. 70 each note
are affixed five coupons" or interest tick
] cts. due at the expiration of each success
| i've haff-year. The holder OF a note has
/ simply to cut off one of these coupons
present ii at the nearest bank or Govern
ment Agency, and receive his interest the
note itself need not be presented at all
Or coupon thus payable will everywhere
be equivalent, when due, to money.
Thus. while this loan presents great adj
yantages to large capitalists, it offers spec
+ ial inducements 10 those who wish to make
safe and profitable investment Of small
savings. Ii is i'll every way the best Saw
! ings' Bank: for every institution Of this
/ kind must somehow invest its deposits pro
+ itably in order to pay interest and expense.
/ They will invest largely in this loan, rs
/ the best Investment. BIT from the gross
/ interest which they receive they must de-
! duct largely for the expenses Of the Bank.
! Their usual rate of interest allowed to d.
pnSitors 10 per cent. upon sums over
500. The person vino invest. directly
with Government Will rceciAc almost -
+ per cent. more. Then the man who de
posts $1,000 i'll a private Savings Bank
receives 30 dollars a year interest: if he
| deposits the same sum i'll this National
Savings Bank he receives q dollars, For
those who wish to find a safe, convenient.
aud profitable means of investing the sur
plus earnings which they have reserved
for their old age OF for the benefit of their
children. there is nothing which presents
80 many advantages as this National
Loan.
1t is convertible into a six per cent, gold
bearing bond. AT the expiration of three
years Il holder of the note of the 100
loan has the option of accepting payment
in full or of funding his notes in six per
cent. gold interest bond, the principal pay
able in not less than 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 100
to-day aug, l2th), thus making the real
rate of interest over ten per cent. and
besides, to make the inducemeut even
creator. Congress by special act exempts
its Treasury notes from state and munich
pal taxation. Could Shylock ask more
Was patriotism ever so literally reward
ed !-Hdfpef's Magazine.