Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1864-08-12
The 40 Government Loan

We have neglected to some extent. the
duty of urging upon the people Of our
county Of subscribing for the various gov
ernmcnt loans which have been from time
to time offered the public This duty has
been given second place in our esteem.
only to urge what seemed more pressing
one, that of providing men for the Union
armies. But to-day, both these public
duties have equal interest, ana demand the
same attention. The men We must have ::
money we cannot succeed without. And
while the Government through its ae5redi-
ted agent is offering the Peef'e--not the
Banks and capitalists exclusively hHi the
men OF q few hundreds the opportunity to
assist il i'll its patriotic struggle, and Il, the
same time paving literally for their ASSES
tance, who can stand alc1f' We, there
fore, urge upon every man OF woman who
has few hundred dollars to invest il in
the Government Loan which we adver;ize
to-day. You can not put your money to
any better use. Don't spend il for fnery,
nor for superduous laXurics, nor for fine
carriages, nor for palatial residences, and
by all means do not invest it in the neces-
saries of life and hold on such for rise.
but at once lend it to the Government and
at the same time benefit it and yourself.
This matter has not been brought home
sufficiently to our attention, thus far. We
have not yet begun to think of it as a
patriotic duty, aud as safe and profitable
investment. We commend the following
from an exchange to the reader
Irs LIBERAL INTEREsT.-The general
rate of interest is six per cent, PAYABLE an
nually TINS is seven and three -tentLs.
payable Semi-aAaaQi'y. If You lend on
mortgage, there must be a searching of
titles, lawyers fees, stamp duties and de-
lays, aud YOU will finally have returned to
You only the same KIND of money Won
would receive from the Government, and
less OF 1t. II You invest in this loan. Won
have no trouble. II there is no National
bank at hand, any banker will obtain it for
you without charge, and pay You the inter
est coupon at the end of six months as a
most convenient form Of remittance To his
city correspondent. II you wish to Dor
row ninety cents on the dollar upon it, YOU
have the highest security in the market to
do 1t with. If you wish to sell, it will
bring within fraction Of cost and interest
at any moment. 1t viii be very handy to
have in the house.
It's COMPATIBILITY INTO A SIX PER
CENT BoND.-Here comes an advantage
that must not be lost sight Of. At the ex-
piraton of three years holder of the
notes OF the 7-30 loan has the option of ac-
cepting payment in full or of funding 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 III the New York market, aud have
sold at 100 to day (July 2e). Before the
war; L. 5. six per cent stocks sold at a
much higher rate-and were once bought
up by the L. $. Treasury under special
act OF Congress at premium OF not less
than twenty per cent. There is no Doubt
That this option OF conversion Is worth at
least two or three per cent per annum TO
The subscriber to the loan. thus increasing
the actual rate of interest To about ten per
cent. Notes OF the same class issued three
Years ago, are now selling at premium
that fully proves the correctness Of this
statement.