Delaware State journal and statesman., 1865-05-26
TnE THIRD SERIES OF sEvEN.rHIRTIEs

THE THIRD SERIES OF sEVEN.THIRTIES
The great uccess of the 7.3O Loan must al.
ways be looked upon as one of the most power.
ful evidences Of the strength of the United States
Government, aHd Of its strong hold upon the
confidence aud affections Of the people. On
Saturday, May l3lh, the subscriptions were over
thry million dollars and for the week ending on
that day, over nnety-eight million dollars, and in
the three months that the Loan has been in
charge Of Mr.. JAY COOKE, over hve hundred
million dollars. These large receipts will
enable the Treasury to pay otf our armies as
they are disbanded, and to rapidly discharge
the various obligations that have been incurred
during the war. History will show that a great
war.debt to individuals has never before been
so promptly paid and we think all will agrtt
that Secretary Mccullough deserves great credit
for the ability he has manifested not only
in securing the means, but for the financial skill
ne mas displayed IN SO directing these vast re-
celpts and disbursements as not for q moment to
disturb the equilibrium Of commerce, embarrass
individuals, or in any way tighten the money
market. 1t is doubtless true, that the Seoretary
OF tue Treasury night have negotiated the re-
mainder OF his loan, at six per cent interest in
stead Of 1.30, bat so much valuable time would
necessarily have been lost in popularizpg a
new loan, that the great object Of the Govern
men;, viz, an immediate supply of money suiTi-
cient to pay all the debts incident to the war.
would have been defeated and besides, the diff.
ferense of interest would not have been equal to
three days expenses. The policy NAV baye
looked penny wise, but the best financial au-
thoritiee as well as common sense, pronounced
il "pound foolish" As il is-and will be. no
soldier will go home without his Rreenbacks.
and the floating debt in the shape Of vouchers,
requisltons, &c, will be wiped out as rapidly
as The proper officers can audit and adjust the
accounts.
The Second Series of the 1880 Loan was ex-.
hausted on Saturday, May 10. On Monday.
the Secretary Of the Treasury authorized JAY
COOKE, the general Subscription Agent for U.
Securities, to receive subscriptions for e2s0,-
OOO,OOO Of Third Series, which is all that is
authorized by Congress, and is without doubt,
'he last loan at this high rate of interest, that
will be offered by the Government.
There is no change in the terms or conditions
OF this Third Series, except that the Government
reserves the right of paying interest at six per
cent iu gold, Instead Of seven and tbree-tenths
IN currency-a right which would pre,suppose
return to specie payments, and make sig nor
cent. in gold, even better than the higher rate
In currency-R contamination most deyoutly ia
be wished. ="
The privilege of converting the notes into 90
Six per cent gold bonds, at the end of three
years, or receiving payment at maturity, at the
holders option, is retained.
The first day OF the Third Series opened with
O subscription within fraction of five millions.
and the month Of June will certainly see tbs
last OF the 1905 cut of markei. How early In
June, we cannot predict. but parties who wish
TO make sure of portion, would do well to be
In time.
Full particulars may be found in our adyer.
tlzing columns