The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1865-05-24

The great success ofthe 7-30 loan must
always be looked upon as one of the most
powerful evidences of the strength of the
United States Government, and of its
strong hold upon the confidence and az
fec'ious of the people. On sasurday Nav
18Th, the SUBSCRIPTIONS were over hirty
million dollars, aud for the week ending
On that day, over ninety. eight million
dollars, snd in the three months that The
loan has been 10 charge of Mr.. Isy Cooke
orer IRE hahared million dollars. These
large receipts will enable the Treasury to
pay Oh our armies as they are disbanded,
and to rapidly discharge the various OBJ
legations that have been incurred during
the war. History will show tbst ACCT
wardebt 10 individuals has never before
been as promptly paid; and We think all
VIII agree that Secretary McCuIloch de-
series great credit fol-, the ability he has
manifested, not only in securing the
means, but for the financial skill be has
displayed in so directing these vast re.
celpts and disbursements as no, for a mn
ment 10 distn,b the equilibrium of com
merce, emb'rTass individuals or in any
way tighton the money market II is
doubtless tue that the Secretary of the
treasury might have negotiated the 70.
mainder of his loans a. six per cent inter.
est Inst a | Of 80. bat 80 much valuable
lime would necessarily have been lost io
popuarizing new loan that the great OBJ
lect of the Government, viz an immedi.
ate supply OF money sufficient to psv all
the debts incident to the war, would have
oeen defeated; and besides, the difference
Oh interest would not have been equal to
three days expenses. The policy may
nave looked penny. wise," but tho best
financial authorities, as we'll as common
sense, pronounced it "pound foolish
Asst is-and will be, no soldier will 90
home withou. his greebbacks. and the
floating debt il the shape of vouchers re.
QUESTIONS, De-, will be wiped out as rap.
Idly as the proper officers can audit and
adjust the accounts.
Inc second series of the 100 loan was
exhausted on Saturday. May 18th. On
Monday the Secretary Of the Treasury
authorised Jsy Cooke. tie general Sub
scr'ption Agent for United States Securi.
ues' to receive subscriptions for $3.50.
ooo'ooo ola Third Series, which i.::.ll tia,
is authorized by Congress, and is without
doubt the last loan at this high rate of in.
'erest that will be offered by tho Govern.
ment.
1here Is no change in the terms or cor.
oitlons OF this Third Series: exeen. ,b.,
.'o government reserves the RICH, Of pay.
ing interest at six per cen, in gold in.
stead OF seven and three -ten,hs ia curren.
'y-a night which would pre- suppose a
return to specie payments, and make sir
per cent In gold even better than tho
higher rate in currency--s cousumma,;o,
most devoutly to be wished
The privilege of converting the note.
INTO DIV SIX per cent gold bonds at HE
eno OF three years,-or receiving paymeu,
At maturity, at the holders option ia %.
tanned.
The first day Of the Third Ssries oman.
60 with subscription within fraction
Of hve millions. and the month Of Jim.
VIII certainly see the last of the 7-:sOs an,
OF market. How early in June We can.
not predict, but parties Who wish 10 MAJ.
sure Of portion would do we'll to b. !,
time.
Full particulars may be found il our
advertising columns.