Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1864-07-29
PROPOSALS FOR THE NEW LOAN.
An UKoENr APPEL TO THE PEoPLE--MR PES
sENDEN HOPEFUL.

PROPOSALS FOR THE NEW LOAN.
An UKogNr APPEL TO THE PEoPLE--MR PES
sENDEN HOPEFUL.
Secretary Fessenden. under the authority
given by the act Of congress Of June Last 10
issue an amount of treasuty notes not exceed
inc $500 600 900. gave notice Monday. that
subscriptions will be received by the treasurer
Of the United States, the several assistant
trea.urers and designated repositories and
b, the national banks designated and aualiH-
ed az repositories and financial agents, for
treasury notes payable in three years from
August l5 1864, and bearing interest at the
"a o. of seven aud ihree-tenths per cent. per
snnum, with semi annual coupons attached
payable in lawful money. The notes will be
convertible at the option Of the holder at
maturity into per cent gold bearing bonds
redecnable after five and payable twenty
,cars from August Is. 1867. The notes will
b. issued in denominations Of $50 $780,
$500. $1,000 and 5000, ia blank or payable
to order may be directed by the subscrib-
ers.
An suhsctiotions must he ior $50 or some
multiple of $50, and interest Will be allowed
Co. August 600 all deposits made prior to
thar da'r aud paid by the department upon
receipt" Of the original certificates A. the
uoe- dra" interest i',m August IS persons
making dep -l.- -ub-'quent 10 tnat date
Wu.' pay the iu'ert-' which tas accrue nom
me da'c g ihe nD'a FOB 'ho date e deposit.
Pa ues depot iu. S25 o o and upwards for
these nuies at aty 0ue time viii be- allowed
commission ot Hnc-q1wtcr Of me- per CEN.
which Will he pnd Dy the treasury depart
mcn upon receipt Of the biil for he amount
ceruh,h 'o boy he officer ~lth whom the de-
posit WIS made hut no deductions for com
is'iohs must bee made hom the deposits
Accompanying this announcement OF the
loan 10 an appeal oN secretary Fessenden TO
the people Of the United States. lie says
up TO the present IN msnt you have readily
anu chettiulA al 'td the means nee ssafy TO
the support of your government IN tins pro-
tHcied struggle 10 is your war you pro-
claimed h. and You have sustained i' against
traitors evety"hefe' WIN p"Houc devotion
unsurpassed IN the worlds history
] Doe secuiiues 'h-ftd to y'u no" are
such as should command your ready cont
d,nce. Much Effort has been made Go shake
'hr public faith 10 our national credit, both at
home aud abroad, but az yet we have asked
to foreign Did, Calm and seli-rehant, our
own means thus Tar have proved adequate 10
our ~anis. They are yet ample 10 meet those
OF The present and future, ana II stu remains
for psttt1uc people TO furnish the neediul
supply ne brave men VINO are hghtinB our
battles by land and sea must be fed aud cloth
ed Munitions OF war OF all KINDS must be
furnished, or The war must end 10 deieat ana
dlsR-ace.
This Is not the time for any lover OF his
countty 20 inquire "a TO the state OF the
money maj ket, Or ash whether be can so M
vest bis surplus capital as to yield nm
larger return. No return add no profit can
b. drsirable II followed by national dis~oiu-
ZION or ustional disgrace. Present profit thus
Boqh1ed is bat the precursor Of future and
speedy destruction. No investment can be
So sutely profitable as that which tends to IN
sure the national existence. Sm encouraged
10 the belief that by the tecen' legislation OF
Congress our finances msy soon be placed
upon soulder aud more stable footing. am
happy TO say that daily results are proving
that the internal revenue act exceeds Ia EN-
cheney The most sanguine expectations OF ITS
authors. Ia June 1868, u Yielded about four
ana nall mlii' ms OF cpiiaIs' WINE tue COZ
responding month OF this year returned ab ut
SIS 100000 under tie came law. Under The
new law, which went into operation The n 81
day Of the pre-ent montn, the treasury de-
par meut has fi,q GENTLY received 600 uOC
d DAY, and d. time aud ex eiiruce enable toe
oiheeis employed Iu collecting the revenue &c
enforce The strength OF fhe PROVISIONS g me
new Law at ieast ) 600 600 per day Vii be
found NE role aoo not ihe exception N'uh
much tpace o. undoubtedly l'it IT, improve
m,ut iu the laN aud ia lts administrator a.
the greater amount a. necessary luiDi NATION
IL acuuired. snd he proper source of revenue
and most td,cuve Mote OF obtaining 70 are
beet developed 40 toe execution Of existlas
la~- aud have cau.ed measures 70 be IN
itialtd which Will, Il Is believed, enable Con-
Aress 20 To improve and eniatge the system
a., ~heu taken IN connection with the re-
venue f,om customs aud other sources. TO Of
a. credit Only on sueh oAs''' ana III
stead, aud 'ls"fous restraint upon ou''e'VJ
can remedy oe iound ior me eA''t'ns e'''