New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-07-26
THE ESQ LOAN IN TIE COUNTRY
APPRECIATION Of GOVERNMENT CREDIT
WHAT THE PEOPLE THINK AND MY'

s.,,as which has moi been visited pS an "eN" |
.mao has been to obtain its aid In the SAFE "a 'n'
states loans. Probably, too almost ever! "orAns
a. ,ba North no matter what his trade or PROBES
,or has had placed in BIS hands document explain
sn ,hs nature and terms of the several loans "anor
- nv Tho Government These agents ard cGnyas'efs
.uroin,.d NV Law Cooke General United States sub
.,D,ion Arent have .raversed every state IN the
N,h and recently several in the Soath, penetrating
.very county, and unQuestionaby doing much 10 on
Nshten tho people Their purpose has not been 10 %
sain subscriptions themselves; they were authorized
simply 70 circulate tho undenablo facts aoout 'ne
loans. The philosophy OF tho great loan is simple
enough but il needs to be stated that those VINO run
may read.
In recent conversation with gentleman in wash
sngton familiar with tie results o! this system we ana
that the general report of these agents IS
favorable to tho Intelligence OF the American leope'
Farmers who have known more OF nnahci~ opel
stions than they learned by visit 10 the county oanA
to deposit the profits on their crops need no oTlla
zion from the circulsrs explanatory Of the laws Me-
shsnios understand the plain advantages OF an .lves'
ent In United States securities Just as well as Rors
child could. Women know whs. makes SeVen'fmr'y
bend more valuable than coal security.
Yet there is much ignorance in quarters where II
would not be anticipated The proprietor of the largest
hotel in one of the largest towns Ia Pennsylvania an
intelligent American said to special agent at the
very time when the second series Of the 100 Losn as
being sold at the rate of sl5,oooooO daily why
Thought this loan had been withdrawn long ago.. he
sss surprised 20 learn hat the First National Benk'
opposite his. own hotol, was ordering bonds 10 the
amount of $40, 900 to SIC. 900 daily.
Another man. well informed on all general matters,
Thought the Seven Thires called because they
we're to be paid in seven or thirty years. he was
greatly astonshed find that the title referred to
the interest which he had taken for ganted was but
ak per cent in currency
Instances might be multiplied OF such mistakes
among intelligent men, They are to be explained by
the supposition that these men are much engrosssd
n their own private affairs that they DO not take the
trouble or time even to read the newspapers So much
greater the need tbs. the Government should take
measures to make its financial policy universally under
stood.
When at frat the Treasury Department merely sdver'
tsed in the papers that the United States would borrow
% much money such terms the subscriptions were
unexpectedly small The terms were not brought be-
Gore the people, and they did not appreciate their
unusual advantages.
But il cheering now TO see how thoroughly the in.
sura classes understand the financial question Of the
Soy The daily reports Of individual subscriptions Of
90 and sl0o show that the people are fully aware thai
uis good thing be a creditor OF the Unon even
lhcy nay not all understand how the debt itself may b
made . benefit.
At a smal railroad station in the mining districts o
Pennsylvania sdozen or so grimy, rouehooking miner
were listening while another read aloud bill posted ~
ststing the terms Of tie second series Of the 100 oan
agent who had just arrived at the depot told him tia
the third series then upon the market upon term
slightly different from the second. "Ohi we knew IN
difference SIR the quick reply we have read tn
new advertisement in THE NEW. YORK TRIBUNE o.
conversnp with these men, ascerained that amos
avery had from $50 to $500 invested in the oan
get twelve could scarcely have been selected
likely from appearance TO know that the loal
isfed.
Tne German population Of Pennsylvania, it is gene
rally known very careful of their money and fire.
eaently oyerpradent that they dst-ust the banks
and hide away their earnings At first it was rarely
shat these honest Dutch farmers invested dollar in
United States securities. But when the was evi.
IDENTIFY near ats close and the safety of tho Union Ger.
TAIN they became eager to obtain inf mation Of the
73o loan, and anxious 10 subscribe. Tie following
versation actually occurred in Pennsylvania bank.
and was noted down at the time by agent who had
eeel conyersng with the cashier sturdy old Dutch.
man in ancient homespun farm clothes with good
Seal Of mud spsttered over him, and Keen halfds.
ustul look in his broad face approach cd the counter
Teston--" Ish tish ter psnkf"
Cashier" Yah mine friend"
Teuton-"I haben some molish. TIE oft yomans had
u 10 der stocking ant says to me to put II we're il VIII
Do scfer. 80 comes town 10 apout der Seben-
Thirty Of der Government"
Casler-Wei, we can let you have the bonds
Teuion-Ish dey safe
Cashier-NothIng can be safer
Teuton-Dey pays seven thirty.cents interestf
Cashier-Yes, sir.
Teu.on-Does gets mein whole monish venerer I
yantsi
Cashier-Yes you can sell your bonds whenever you
~ant TO- and the interest coupons cash everywhere
Teuton-Yshf Dat ish soot
More questions were asked, but the upsbot was the
careful production of o. 900 in old stale hank noes
from weil.worn wallet ard their exchange for Ssyen
Thirty bonds. Hans departed we'll satisfied no doubt
understanding the loan Just well as the cashier or
se agent and probably explained 10 Lis wife how d ese
1o1cs were not taxable by State city town how the
Government temporarily needed money so much that II
had to pay higher interest than 1t would ever offer
again and how much better 1t TO darn her
sor Ter own stout limbs, than to fill them with moIdy
nAnE Lotes bearing interest, and almost certain 10
6sprsciate in vaine
Hverywhere agents ard canyassers meet with eaoe,
9u.siioners Seldom do they End any one who doubts
OF rhe value OF the oen. When jaw Cooke began The
sale OF the fiveTwentee, II was very different Our
siesories had not converted the errng ane
the weak, nor had Mr. Cookies system Of
snfornstion lad time 10 work. Many people ware tlen
Sonndso question whether the national debt would ever
h yafH N tal of Nv floca