Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1864-08-31
The Seven -Thirties-What are They.

The purport of it is that the people OF the
/ United States, acting as a body through their
agent the Government, wish individuals to
! lend them two hundred millions o dollars
| for three years, at seven and threc-tenths
per cent annual interest, payable every SIX
months For this they offer the Treasury
Notes-that is, in reality notes drawn and
endorsed by every man in the country. The
loan is wanted for a great national purpose,
10 effect which every man, unlss he be
traitor in heart, if not IN act, is solemnly
pledged
The Appeal is addressed not 10 few
great capitalists, but also to many whose ag
gregate means constitute 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 patriotism
and the duty which all owe to their country,
no investmc MT is so desirable as this
1t is secure Every dollar of every man s
property is pledged for the punetual pay
ment of the interest, and of the debt when
! due The security Is increasing In value.
| For some years before the war we were earn
| ing 1000 millions year more than we spent.
| During the three years Of 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 $40, l59, ,0O0, 600, of
! States This valuation. according to the u
| sual rule Of assessment, was no more than
two-thirds of the actual cash value of the prop
| erty. The increase of the property in the
Loyal States during the last ten years was O.
| yer l26 per cent, or an average Of y 6-lO per
cent per annum In three years of the war
we of the United States have certainly earn
| ed 1900 millions more than we have spent
apart from the war. The cost Of the war
may be set down at 2000 millions. Deduct
| ing this from our net earnings the People
who are security for this loan are 1000 mil
lions richer to-day than they were when the
war broke out.
No other investment can be so easily con-
vertible. The man who has Treasury note
! for $50, or 500, or $1,000, can turn it into
money more readily, and upon better terms,
than if it were invested upon bond and mort
gage, or in railroad stocks.
The interest offered is higher than can be
realized from any other safe and convertible
| investment. 1t is, moreover, readily collec-
table 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 simply to cut off
one oftE ese coupons, present it to the near
est bank or Government Agency and receive
his interest the note itself need not be pre-
sented at all. Or coupon thus payable
will everywhere be equivalent, when due, to
money.
Thus, while this loan presents great ad-
vantages to large capitilists, it offers special
inducements to those who wish to make a
safe and profitable investment Of small sa-
wing. 1t is in every way the best Savings
! Bank for every institution of this kind must
somehow invest its deposits prvftably in or
der to pay interest and expenses They will
invest largely in this loan as the best inves :
ment. But from the gross interest which they
receive they must deduct largely for the ex-
penses of the Bank Their usual rate Of in
terest allowed to dcpositers is per cent
npon sums over $500. The person who in
vests directly with the Governmet will rc-
ceIve almost 80 per cent. more. Thus the
man who deposits $1,000 in a private savings
Bank receives 80 dollars year interest );
if he deposits the same in this national s.
wings Bank he receives 73 dollars For those
who wish to find 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 many ad-
vantages as this Natiooal Loan.
1t is convertible into a six per cent gold
bearing bond. At the expiration of three
years holder of the notes of the 80 loan
has the option Of accepting in full or of fund
ing his notes in six per cent. gold interest
| bond, the principle payable in not less than
five nor more than twenty years from its
date as the Government may elect. For six
months past, these bonds have ranged at an
average premium of about eight per cent.
| in the New York market, and have sold at
| l09 to-day Aug. 12th,) thus making the
real rate of interest over ten per cent. and
| besides, to make the inducement even great
er, Congress by special act exempts its Treas
|