Delaware State journal and statesman., 1864-08-30
THE OBSERVATION-DISCLOSURES ARE THEY


THE SEVEN -THIRTIES-wHATA ARE THEYi
We trust that a large portion of our readers
haEe pondered the Appeal Of Mr.. Fessenlen, our
new Secretary Of the Treasury. The purport OF
it is that the People of the United Statcs netting
a body through their agent the Government,
wish individuals to lend them two hundred mil
lions OF dollars for three years, at seven and
threetenths per cent. annual interest, payable
every six months. For this they offer Treasury
Notes that is, in reality, notes drawn and en-
dorsel by every man in the country, The loan
is wanted for great national purpose, TO effect
which every man, unless he be traitor at heart
il not in act, s solemnly pledged.
The appeal is addressed not merely to a few
great capitalists, but also to the many whore ag-
gregate means constitute the mass of the wealth
of tho land. The notes upon which this loaniis
ssked are from $50 upward. Every man who has
ffty dollars can take part in this loan. Apart
from patriotism and the duty which oil owe to
their country, no investment is SO desirable as
this.
1t is secure. Every dollar Of every mans
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 a
year more than we spent During the three
years Of the war, owing to the 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 tue property Of the United States according
to the census Of 1860, was $l6, l50, 900 O00 Of
which $40, 957, ,44s, 956 IVES in the Loyal States.
This valuation, according to the usual rule OF
assessment, was not more than tWo-thirds OF the
actual cash value Of the property. The increase
of property 10 the Loyal States during the last
ten years was over 1876 per cent, or an average
Of II 6-l0 per cent. per annum. In three years
Of the war We Of the United States have GER
tany earned 1000 millions more than we have
spent apart from the war. The cost of the war
may be set down at 1000 millions. Deducting
this from our net earnings, the People who are
security for this loan 1000 millions richer to
day than they were when the war broke out
| No other investment can be 30 easily convert.
bic Tic man who has Treasury note for $50
or 500, or $1,000, can turn it into money moro
readily, and upon better terms, than if it were
invested upon bond and mortgage, or in railroad
stock.
The interest offered is higher than can be re-
allied from any other safe and convertible ia
yestment. IL s, moreover, readily collectabl,
when due. 10 ench note are affixed five 'ciu-
pons,' or interest tickets due at the expiration oil
each successive half-year. The holder Of not,
!
seut il at the nearest bank or Governmeu
Agency, and receive his interest the note ilsel
need not be presented at all Or u coupon thu
payable will everywhere be equivalent, when due
TO money.
Thus, while this loGn presents great aiyanta
Ges to large capitalists 1t offers special Induce
mens 10 those who wish to make IL safe an
profitable investment Of small saving. l.isi
every way the best Sayings' lluk for ever
institution Of this kind must somehow invest il
deposits prohtably in order to pay interest gu
expenses. They will invest largely in this loan
as the best investment But from the gross in
terest which they receive they must deduc
largely for the expenses of the Bank. The
usual rate OF interest allowed TO depusitOrs il
per cent. upon sums over $500. The person VIII
invests directly with Government will rrceiy
almost 5O per cent more. Thus the man VIII
deposits $1,000 in a private Savings Bank re
Ieiyes 90 dollars year interest, il he deposit
the same sum in this National Savings' Bank h
receives IL dollars. For those who wish to fin
a safe, convenient, and profitable means of il
vesting the surplus earnings which they hn,
r reserved for their old age or for the benefit
their chiliren, there is nothing which presen
80 many advantages As this National Loan,
| tits convertible into six per cent. gold benz
q ing bond. At the expiration Of three wears
holder Of the notes Of the 7.30 loan has the Of
0 tlon OF accepting payment in full or of fundii
t his notes in Blk per cent. gold interest bon
y the principal payable in not less than five n
: moro than twenty years from its date as Il
r Governmont may elect For six months pai
e these bonds have ranged at an average premiu
. Of about eight per cent in the New York marke
l. and have sold at l09 to-day (Aug. l2tb,) thu
i making the real rate Of interest over ten D,
i cent? aud besides, 10 make the inducement ey
greater, Congress by specisl act exempts
e Treasury notes from state and nun icipai tax
# tion. Could ShylOck ask morel Was patrio
Ii ism ever 50 literally rewarded 7-Harper's Mug
rims.