Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1864-08-19
TO THE PEoPLE OF THE UNITED
STATES.
ThkAsrhE DkRARrMENT, July IS, 1864.

TO THE PEOPLE OF THE UNITED
saf ~ STATES. siasss
f. TREAsrRE DERARrMENT, July IS, 1864
By an act Of Congress, approved June30, 1854
the Secretary of the Treasury is authorized TO
issue an amount not exceeding two hundred
millions of dollars in Treasury notes bearing
interest at a rate not exceeding seEenand three
tenths per centum, Iedeemable after three years
from date, and to exchange the same for lawfll
money. The Secretary is further authorized TO
convert the same into bonds, bearing interest at
a rate not exceeding SIX per centum, payable IN
coin. Ip pursuance of the authority thus con-
terred,, now offer to the people of the United I
States Treasury notes as described in my ad
Vertisement dated July 25, 1864
The circumstances under which this loan IS
asked for, and your aid invoked, though differ
ing widely from the existing state of affairs
three years ago, are such as to afford equal en-
coursgement and security. Time, while prov
ing that the struggle for national unity was to
exceed in duration and severity our worst au-
ticipations, has tested the national resources to
an extent alike unexpected and remarkable, ex-
citing equal astOnishment at home and abroad.
Three years of war have bprdened you with
debt which, but three years since, would have
seemed beyond your ability TO meet. Yet the
accumulated wealth and productive energies of
the nation have proved to be go vast that It has
been borne with comparative ease. and peace
full future would hardly feel its weight. As a
price paid for national existence, and the pres
ervation of free institutions, ii does not deserve
moments consideration. 8ss{ asa 3
Thus far the war has been supported and car
ried on, as it only could have been, by a people
resolved at whatever cost of blood and treasure,
! to transmit, unimpared. to posterity, the sys-
tenn of free governments beq1eathed to them by
the great men who framed it. This deliberate
and patriotic resolve has developed power sur
prising even TO themselves. II has shown that
in less than a century nation has arisen, un-
surpassed in vigor, 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 unmpaired in all the
material elements of power. Ithas, at the pres-
ents nomenL great armies in the field, facing an
enemy apparently approaching period of ut
ter exhaustion, but still struggling with force
the greater and more desperate as IT sees the near
approach of a final and fatal consummation.-
Such, in nay deliberate Judgment Is the present
condition Of the great contest for civil liberty
| IN which you are now engaged. IL,
Up to the present moment you have readily
aud cheeYfully afforded the means necessary to
Support your government in this protracted
struggle 1t is YOUR war. You proclaimed it,
and you have sustained it against traitors every
where, with patriotic devotion unsurpassed in
the world history. us g -
The securities offered are such as should COM
mand your ready confidence. Much effort has
been made to shake public faith in our national
Ieredit, both at home and abroad. AS yet we
have asked no foreign aid. Calm and self-reli-
ant. our own means have thus far proved
ladequRte to our wants, They are yet ample to
meet to meet those of the present and the future
1t still remains for a patriotic people to furnish
the needful supply. The brave men who are
fighting our battles by land and sea must be fed
and clothed, munitions of war of all kinds must
be furnished, or the war must end in defeat and
idisgTace This is not the time for any lover of
his country to inquire as to the state Ofthe
money market, or ask whether he can so invest
his surplus capital as to yield him larger re-
turn. No return, and no profit can be desira-
ble if followed by national dissolution or ma
ItiOnal disgrace. Present profit, thus acquired,
is but the precursor of future and speedy des-
Itruction. No investment can be 50 surely prof
Iitable that which tends to insure the national
lexistence.
am encouraged in the belief that by the
lrecent Legislation OF Congress our finances may
Isoon be placed upon a sounder and more stable
footing The present deranged condition Of the
Icurrency is imputable, in great degree, to dis
iturbances arising from from the withdrawal Of
Unnecessary CutChet FiLdDfefs IN IlLc Ol
war, when expenditures must largely exceed
Iany possible supply ofcoin. The opportunities
thus presented b acquire sudden wealth have
led to vicious speculation, consequent increase
lof prices, and violent huctuatiOn.f The remedy
lis to be found only In controlling the necessity
which begets the evils. Hitherto we have felt
! 1.-THE need of more extensive and vigorous taxa
, ltion. Severe comment has been made upon
what seemed to many an undue timidity and
tardiness of action, on the part of Congress, in
, this regard deem it but Just to say that very
/ great misappTehension had existed, and perhaps
IstlI exists, upon this point. Legislators, like
all others, have much to learn IN a new condi-
, ton of affairs An entirely new system was to
be devised. and that system must necessarily
be the growth of time and experience It il
mot strange that first efforts should have proved
: Imperfect and inadequte. To lay heavy bur-
dens on great and patriotic people in such a
manner as to be equal, and as to occasion the
least amount of suffering or annoyance, requires
! time and caution, and vast labor; and, with eli
these, experience is Deedful to test the value Of
+; the system, and correct its errors. Such has
! been the work which Congress was called upon
I Ito perform. am happy to say that daily re.
I suits are proving the Internal Revenue Act t.
: exceed In efficiency the most sanguine expec.
: ltations its authors. In the month of June
1853 it Welded about four and half millions
of dollars while the corresponding month of thin
3 year returned about fifteen millions under the
{ same law Under the new law, which went in
! Ito operation on the first day of the present
month, the Treasury NOS unfrequently receives
lone million in day. AS time and experience
! enable the officers employed in collecting the
revenue to enforce the stringent provisions o.
1.-THE new law, / trust that million per day viii
lbe the rule and not the exception Still, much
space is undoubtedly left for Improvement in the
I law, and in its administration, as a greater
+, amount of necessary information is acquired
The proper sources of revenue, and the most ef-
fectiVe modes of obtaining it. are best developed
in the execution of existing laws. And 1 have
) Ecaused measures to be initiated which viii it il
! believed, enable Congress so to improve and en-
D large the system as, when taken in connection
2 with the revenue from customs, and other sourc
Q es to afford an ample aud secure basis for the
q national credit Only on such basis, and in
: steady and vigorous restraint upon currency
s can a remedy be found for existing evils. Sucl
4 Irestraint can only be exercised when the gov
s ernment is furnished with means to provide 70
: its necessities. But without the aid of patri
otic people, any government is powerless, 70
s this or any other desirable end. +
II The denominations of the notes proposed Il
0 be issued, ranging from fifty to tve thousan,
e dollars, place these securities within the reacl
!. Iof all who are disposed to aid their country
: For their redemption the faith and honor anc
e property of that country are solemnly pledged
: successful issue to this contest now believed
to be near at hand will largely enhance thei
value to the holder; and peace once restored, al
i burdens can be lightly borne. He who selfish
III ly withholds his aid in the hope Of turning hi
{ available means TO greater present profit, i
upon his country misfortunes, anC
: may find that what seems to be present gail
!, leads enly 10 future loss. | appeal, therefore
: with confidence to a loyal and patriotic people
= and invoke the efforts of all who love thei
& country, and desire for il glorious future, L
9 aid their government in sustaining its credi;
: and placing that credit upon a stable founda
i ton W. P. FESSENDEN,
b go Secretary of the Treasury.
e A Wife's Devotion.
d The remains of the late Colonel MulligaI
: were conveyed from the field 70 Cumberland by
5 his wife, as thus related by the Wheeling isaets
: gencer. -s.......s.s .s.,s,-e
y aone of the interesting incidents connected
e with Colonel Mulhgan's death IS the deyoYtes
, L-;,.., ,c,-;nced hv his noble wife Hearlnf