The Iowa transcript. (Toledo, Tama County, Iowa) 1858-1866, 1864-08-11
TREASURY DEPARTMENT, !
July IS, 1864. I
To the People Of the United
states.

80, 1864, the Secretary oflhe Treasury
is authorized to issue IN amount not ex
cceding two hundred millions Of dollars
in Treasury notes, bearing interest at q
rate not exceeding seven and three.
tenths per centum, redcemablc after
three years from date, and to exchange
the same for lawful money. The Sec.
retary is further authorized to convert
the same irto bonds, bearing interest
at rate not exceeding six per cen,um,
payable in coin. In pursuance Of the
auth ,rity thus conferred, l now offer to
the people Of the United States Trea.
sury notes as described in my adver-
tisement dated July 25, 1864
The circumstances under which this
loan is asked 70, and your aid invoked,
though differing widely from the exist
ing state Of affairs three years ago, are
such as to afford equal encouragement
and security. Time, while proving that
the struggle for national unity was 10
exceed in duration and severity our
worst anticipations, has tested the ma.
tional strength, and developed the ma
,ional resources, to an extent alike IN
expected and remarkable, exciting
equal establishment at home and abroad.
Three years Of war have burdened you
with debt which but three years since,
would have seemed beyond your ability
10 meet. Ye! the accumulated wealth
and productive energies Of the nation
have proved to be SO vast that it has
been borne with comparative ease, and
peaceful future would hardly feel Its
weight. As price paid for natiopa
existence, and the preservation Of free
institutions, it does not deserve mo
ment's consideration.
Thus ia, the war has beer supported
and carried on, as it only could have
been, by people resolved, at whatever
cost Of blood and treasure, t. transmit,
unimpaircd, to posterity, the system of
free government bequea,hed to them
by the great mon who framed il. This
deliberate and patriotic resolve has de.
veloped a power surprising even TO
themselves. I, has shown that in less
than a century nation has arisen, un
surpassed in ,igor, and exhaus,less in
resources, able to conduct, through a
series Of years, war on its most gigantic
scale, and finding itself, when near its
close almost unimpaired in all the ma
terial elements ofpcwcr. 1t has, at the
present moment, great armies in the
field, facing an enemy apparently ap.
preaching period OF utter exhaustion,
but still struggling with force the
greater and more desperate as il sees,
and because it sees, the nea, approach
Of final and fatal contamination.
Such, in my deliberate Judgment, is the
present condition Of the great contest
for civil liberty in whica yop are now
engaged.
Up to the present moment yon have
readily and cheertuily afforded the
means necessary to support your gov
eminent in this protracted struggle. Il,
is your war. You proclaimed it, and
you have sustained it against traitors
everywhere, with a patriotic devotion
unsurpassed in the worli's history.
The securities offered are such as
should command your ready confidence.
Much effort has been made 10 shake
public faith in our national credit, both
at home and abroad. As yet We have
asked no foreign aid. Calm and self
reliant, our own means have thus far
proved adequate to our wants. They
are yet ample to meet those OF the pre-.
cent and the future. It still remains
for patriotic people to furnish the
needfnl 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 dis
grace. This is not the time for any
lover OF his country to inquire az to the
state Of money market, or ask whether
be can 80 invest his surplus capital as
to yield him larger return. No re-
turn and no profit, can be desirable, il
followed by national dissolution, or IA.
tional disgrace. Present profit, thus
acquired, IS but the precursor Of future
and speedy destruction No invest
lnent can be so surely profitable as hat
which tends to insure the national ex-
istence.
/ am encouraged in the belief that by
the recent legislation Of Congress our
finances may eoon be placed upon a
sounder and more stable footing. The
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