Mineral Point weekly tribune. (Mineral Point, Wis.) 1859-1868, 1864-08-31
The Scyen-Thirties- are they!

The Scysn-Thirties-What are they!
| We trust that large portion of our
readers have pondered the Appeal of Mr..
! Fessenden, our new Secretary of the Treas
ury. The purport of it is that the People
| of the United States, acting as body thro
| 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 Treasury Notes-that is, in reality,
notes drawn aud endorsed by every man
in the country. The loan is war ted 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 duty which all
owe to their country, no investment is so
desirable as this.
1t is secure. Every dollar of every
mans property is pledged for the pay
ment of the interest, and of the debt when
due The security is increasing In value.
For some years before the war were
earning 1000 millions a year more than
we spent During the three years of the
war, owing to the high prices and con-
slant demand for labor, we have earned
more than before The total valuation of
the property Of the United States, accord
ing to the census of 1860, was Sl6, lj9,-
100000, of which $40 957 ,44S, $50 was in
the LOYAL States. This valuation, accord
Ing to the uuIal 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 during
the last ten years was over l26 per cent,
or an average of u 6-l0 per cent per an
mum. In three years of the war we of
the United Statas have certainly earned
5000 millions more than we have spent
apart from the war The cost af the war
may be set down at 2000 millions. De
Quoting from this our net earnings, the
People who are security for this loan are
1000 millions richer today than they
were when the war broke out
No other investment can be so easily
convertible The man who has Treas
ury note for $50 or 800, 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 convert
able Investment. 1t is, moreover, readily
collectable when due. To each note are
affixed five coupons, or interest tickets,
due at the expiration of each successive
halfyear. The holder of a note has simp-
" 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 ? coupon thus payable will everywhere
be equivalent, when due to money.
Thus, while this loan presents great
advantages to large capitalists, it offers
special inducements TO those who wish to
make safe and profitable investment of
small saving. 1t is in every way the best
Savings Bank for every institution of
this kind must somehow invest its deposits
profitably to pay interest and expenses.
They Will invest largely in this loan, as
the best Investment But from the gross
interest which they receive the must
deduct largely for the expenses of the
Bank Their usual rate of interest allow
ed to depOsitors is ) per cent upon sums
over $500. The person who invests
directly with Government will receive
almost 30 per cent more Thus the man
who deposits $1,000 in private Savings
Bank receives 80 dollars year interest
if he deposits the same sum in this Ma
tional Savings Bank he receives % dol
lars For those who wish to find safe,
convenient and profitable means of invest
ing the surplus earnings which they have
reserved for their old age or for the ben
eft Of their children, there Is nothing
which presents so manJ advantages as
this National Loan.
1t is convertible into a six per cent gold.
bearing bond At the expiration of three
wears hoiier of the notes of the 1-30
loan has the option of accepting payment
in full or of funding his notes in a six per
cent gold interest bond the principal
payable in not less than FIVE or more than
twenty wears from date as the Govern
ment may elect. For six months past.
these bonds have ranged ut an average
premium of about 5 per cent in the New
Y ork market, and have sold at 109 to day
(Aug. l2th). thus making the real rate Of
interest over ten per cent; and beside,
to make the iuducement even greater,
Congress, by special act exempts its
Treasury notes from State and municipal
taxation. Could Shvlock ask more: =
Vas pati iotism ever so literally reward
ed ?-Harpers Magazine.