Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1864-09-07
To the People of the United
States.
VIZ. II. SKWARD,
Secretary Of State.
TREASURY DEPARTMENT,
July Is, 1894.

TREASURY DEPARTMENT.,
He July Is, 1894.
By an act of Congress. approved June
80, 1864, the Secretary of the Treasury is
authorized TO issue an amount not exceed
ing two hundred millions Of dollars in
Treasury notes, bearing interest at q rate
not exceeding seven and threetenths
per centum, redeemable after three
years from date, and to exchange the
same for lawful money. The Secretary is
further authorized to convert the same
into bonds, bearing interest at q rate not
exceeding six per centum, payable in
coin. In pursuance of the authority
thus conferred, now offer to the people
of the United States, Treasury notes as
described in my advertisement dated July
25, 1864. r
The circumstances under which this
loan is asked for, 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 to ex-
ceed in duration and severity our worst
anticipations, has tested the national
strength, and developed the national re-
sources, to an extent alike unexpected
and remarkable, exciting equal aston
ishment at home and abroad. Three
years Of war have burdened you with q
debt which, but three years since, would
have seemed beyond your ability to meet.
Yet the accumulated wealth and pro-
ductive energies of the nation have prov
ed to be 80 vast that it has been borne
with comparative ease, and peaceful fu-
ture would hardly feel its weight. As a
price paid for national existence, and the
preservation of free institutions. it does
not deserve a moments consideration.
Thus far the war has been supported
and carried on, as il only could have been
by people resolved, at whstever cost OF
blood and treasure, to transmit, unim-
paired, to posterity, the system Of free
government bequeathed to them BY the
great men who framed it. This deliber-
ate and patriotic resolve has developed g
power surprising even to themselves
1t has shown that in less than century
nation hs arisen, unsurpassed in vigor,
and exhaustless in resources, able to con-
duct, through series of years, war on
its most gigantic scale, and finding it
self, when near its close, almost unim-
paired in all the material elements oi
power. It has. at the present moment,
great armies in the field, facing an enc
my apparently approaching period Of
utter exhaustion, but still struggling
with force tho greater and more des-
perate as it sees, and because it sees, the
near approach Of final and fatal con-
summation. Such, In my deliberate
judgement, Is the present condition Of
the great contest for civil liberty III
which you are now engaged.
Up to the present moment you have
readily and eheerfully afforded the means
necessary to support your government in
this protracted struggle. 1t is yOsr war
You proclaimed it, and you have sus-
] tanned 1t against traitors everywhere
with patriotic devotion unsurpassed in
the worlds history.
The securities offered are such 81
should command your ready condolences
Much effort has been made to shake pub
lie faith in our national credit, both al
home and abroad. As yet We have asked
no foreign aid. Calm and self-reliant
our own means have thus far proved sd
eouats to our wants. They are yet am
ple to meet those Of the present and M
ture. 1t still remains for patriotic pee
ule to furnish the noedfui supply. The
brave men who are fighting our battles
lby Isad aaa sss nauit be fsdspa sisfhss