Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1864-09-01
The Seven hirties are they?

The Seven hirties What are they?
We trust that large portion of our
readers have pondered the Appeal OF
Mr.. Fessendon, oar new Secretary of
the Treasury. The purport of it is
that the People of the United States,
acting as body 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 and endorsed 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 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 con-
stitute 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 patriot
ism and the duty which all owe to
their country, no investment is SO de-
sirable as this. 49,. ......s. ....... .....
1t is secure. Every dollar of every
mans property is pledged for the pune
tual 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 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 the property of the United States,
according to the census of 1860, was
SIG, l59,000,000. of which $l0,957,-
44S,956 was 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 proper
ty in the Loyal States during the last
ten years was over l26 per cent, or
an average of II Clio per cent. per
annum. In three years Of the war
we of the United States have certain
ly earned 5000 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 are 1000 mill
ions richer to-day than they were
when the war broke out.
No other investment can be so east
~ convertible. The man who has a
Treasury note for $50, or 500, or
$1,000, can turn it into money more
readily. aud 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 convertible 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 half
year. The holder of note has sim
ply to cut off one of these coupons,
present it at the nearest bank or Gov
ernment Agency, and receive his in
Lerest ; 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 Of
fers special inducements to those who
wish to make safe and profitable in.
vcstment of small saving. It is in
every way, the best Savings Bank !.
for every institution Of this kind must
somehow invest its deposits proGtablv
in order to pay interest and expenses
They will invest largely in this loan.
as the best investment. But from tho
gross interest which they receive they
must deduct largely for the expenses
OF the Bank. Their usual rate of i'm.
terest allowed to depositors is s per
cent. upon sums over $500. The per
son who invests directly with Govern.
ment will receive almost SO per cent
more. Thus the man who deposits
$1,000 in private Savings Bank re.
ceiees SO dollars year interest il
ne deposits the same sum in this Ma.
tional Savings Bank he receives 73
dollars. For those who wish to find o
safe, convenient, and profitable means
of investing the surplus earnings
which they have reserved for their old
age or for the benefit of their children
there is nothing which presents so ma
ny advantages as this National Loan
1t is convertible into a six per cent
gold-bearing bond. At the expiration
of three years a holder of the notes o.
the 1880 loan has the option of accept
ing payment in full or of funding bis
notes IN six per cent. gold Interest
! bond, the principal payable in not les.