Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1864-08-12
To the People OF the United
States,
TREASURY DEPARTMENT,
JMlg %, 1864.

by 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 a rate
not exceeding seven and three -tenths per
centum, redeemable after three years
from date, and to exchange the same for
lawful money. The Secretary is further
authorized to convert the samo into bonds
bearing interest at q rate not exceeding
six per ccntum, payable in coin. In pur-
suance OF the authority thus conferred, l
now offer to the people of the United
States Treasury notes as described in my
advertisement dated July %, 1864.
The circumstances under which this
loan is asked for, and your aid invoked,
though differing widely from the existing
state Of affairs three years ago, are such
as to afford equal encouragement and sec.
urity. Time, while proving that the
struggle for national unity was to exceed
in duration and severity our worst antci-
pations, has tested the national strength,
and developed the national resources, to
an extent alike unexpected and remark
able, exciting equal astonishment at home
and abroad. Three years Of war baye
burdened you with debt which, but
three years since, would have seemed be-
yond your ability to meet. Yet the ac-
cumuated wealth aud productive energies
Of the nation have proved to be so vast
that it has been borne with comparative
ease, and a peaceful future would hardly
feel its weight. AS price paid for ma
tional existence, and the preservation Of
free institutions, it docs not deserve a
moments consideration.
Thus far the war has been supported
and carried on, as it only could have
bcea, b. Il people resolved, at whatever
cost OF blood and treasure, unlmpaired,
to posterity, the system of free govern
ment bequeathcl to them by the great
men who framed it. This deliberate and
patriotic resolve has developed power
surprising even to themselves. 1t has
hown that i'll less than Il century a nation
has arisen, unsurpassed in vigor, and ex-
haustlcss IN resources, ao.e to conduct,
through a series Of years, war on its most
gigantic scale. and finding itself, when
near its close, almost unimpaired i'll al
tAe material clements Of power. 1t has,
at the present momcnt, great armies III
the field, facing an enemy apparently ap-
proaching period Of utter exhaustion,
but still struggling with IL force the great
er aud more desperate as it sees, and be-
cause it sees, the near approach OF faal
and fatal consummatiou. Such, in my
deliberate Judgment, is the present con-
diti3n Of tAe great contest for civil li5er-
ty in which YOU are ROW engaged.
L p to the present moment you have
readily and chcer!uily Afforded the means
necessary to support your government in
this protracted struggle. 1t is your war.
You proclaimed it, and you have sustain
ed it against traitors everywhere, with
patriotic devotion unsurpassed in the
words history.
The securities offered are such as should
commend your ready confidence. Mach
effort has been made to shake public faith
in our national credit, both at home and
abroad. As vet we have asked no for
eiafItal. Calm and ,sil.retiant, our oYn
means have thus lar ,sroyrd adequate to
cur wants. they are vet ample to meet
those OF the present and the future. 1t
sti.! remains tor patriotic people to fur
uj>h the needfu; supply. The brave men
who are fighting our battles by land aud
sea must be fed and clothed, munitions Of
war Of all kinds must be furnished, or the
war must end in defeat aud disgrace
THIS is not the time for any lover Of his
country to INQUIRE as to the state Of the
money marked, or asl, whether he can In
vest his surplus capital as to Weld him
larqcr return. No return, and no nro fit,
can be desirable, # followed by national
dissolution, or naticnal disgrace. Present
profit, thus acquired, is but the precursor
Of future and speedy destruction. No
investment can b.. so surely profitable rs
that which tends to insure the national
existence.
am encouraged in the belief that BY
the recent LEGISLATION OF Congress cur
6uapciss may soon be placed upon
sounder and more stable footing. The
present deranged condition Of tbe cur
rency is imputable, in great e,ree to
disturbance arising from the Withdrawn
of necessary cheek, often inevitable in
time of war. when exDenditur.s ncst