The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1864-08-25
The Seven rh,rties-wh,t nr, tb.v,

The Seven Thirties-What are they!
We trust that large portion of our
readers have pondered the Appeal of
Mr.. Fesscnden, our new Secretary of
Treasury. The purport of it is that
the People of the United States, act.
ing as a body through their agent the
Government, wish individuals to lend
them two hundred millions of dollars
for three years, at seven and three
tenths per cent annual interest, pay
able every six months For this they
offer Treasury Notes that is, in real
ity notes drawn and endorsed by every
man in the country. The loan is want
ed for a great national purpose, to cf-
feet which every man, unless he be o
traitor at heart if not in act, is SOLEMN
ly pledged. ~
The Appeal is addressed not merely
to few great capitalists, but also to
the many whose aggregate means con-
stitute the mass of the wealth CT tho
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 patriot
ism and the duty which all owe to their
country, no investment is SO desirable
rs this.
1t is secure. Every dollar of every
mans property is pledged for the
punctual payment Of the interest and
Of the debt when due. The security
is increasing in value, For some years
before the war we woro earning 1000
millions year more than we spent.
During tho three years Of the war,
owing to the high prices and constant
demand for labor, we have earned
more than over 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
SIG, 1884, ,OO0, 600, of which 1O,957, ,44S,
956 was in the Loyal States. This
valuation, according to the usual rulo
Of assessment, was not more than two
thirds of the actual cash value of tho
property. The increase of property
in the Loyal States during the last ten
years was over 126 per cent, or an
average Of u 6-10 per cent, per annum.
In thrco years of the war We Of tho
United States have certainly earned
5000 millions more than we have spent
, apart from the war. The cost of tho
war may be set down at 2000 millions.
Deducting this from our net earnings,
the People who are security for this
loan are 1000 millions richer to-day
than they wcro when the war broke
out.
No other Investment can be so easily
convertible. The man who has q
Treasury note for $50, or 500, or
$1,000, can turn it into money moro
readily, and upon better terms, than
if it were invested upon bond and
mortgage, or in railroad stocks.
) The interest offered is higher than
can be realized from any other safe,
and convertible investment. 1t is,
moreover, readily collectable when
due. To each note are affixed five
''coupons," or interest tickets, due at the
expiration of each successive half.year.
, Tho holder Of n note has simply to cut
off ono of these coupons, present it at
the nearest bank or Government Agen-
cy, and received his interest; the note
itself need not be presented at all. Or
n coupon thus payable will everywhere
be equivalent, when due, to money.
: Thus, while this loan presents great
/, advantages to large capitalists, it Of
5 trrS special Inducements to those who
: wish to make safe and profitable in
, YES tmcnt of small saving. 1t is in
every way the best Savings Bank ; for
every institution of this kind must
, somehow invest its deposits proftably
in order to pay interest and expenses.
They will invest largely in this loan,
, us the best investment. But from the
t gross interest which they receive they
must deduct largely for the expenses
Of the Bank Their usual rate of in
torest allowed to depositors is 5 per
r cent, upon sums over $500. The per-
| son who invests directly with Govern
Z. mont will receive almost 80 per cent.
} more Thus the man who deposits
t $1,000 in private Savings bank re-
+ ccivcs 80 dollars n year interest; if ho
deposits the same sum in this National
| Savings Bank he receives 70 dollars.
| For those who wish TO find safe, con-
| vcnicnt, and profitable means of in.
r vcsting the surplus earnings which
? they have reserved for their old ago
} or for the benefit of their children,
0 there is nothing which presents so
f many advantages as this National
$ Loan.
f 1t is convertible into q six per cent.
gold-bearing bond. At the expiration
4 of three years n holder of the notes of
: the 7,3O loan has the option Of accept
0 ing payment in full or of funding his
A notes in II six per cent. gold interest
0 bond, the principal payable in not less
4 than five nor moro than twenty years
Q from its date as the Government may
$ elect. For six months past, these
0 bonds have ranged at an average pre-
o MUM of about eight per cent. in New
| York market, and have sold at 100 to-
day (Aug. 12th), thus making the real
: rate of interest over ten per cent. and
: besides, to make tho inducement even
greater, by special act oxempts its