Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-05-22
BUSIN ESS NO Toes.

The THIRD SERIES OF SEvEy THIRrIEs The
great success OF the 100 loan NUT always be
looked upOh one vi The most powerful evil
dences OF the strength of the United States Gov
erhment. and OF IT. strong hold upon the comb
reuce sud affections OF the people. On SATURDAY,,
May - n. the Subscriptions over thirty mil
lion dollars. and for the week ending on that
day. over ninet, eight million dollars, and ia the
three months that the loan has been in charge OF
Mr. Jsy Cooke, over five hundred million dol
lars These large receipts will enable the treas
ury TO pay off our armies as they are disbanded
aud o. rapidly discharge the various obligations
that have been incurred during the History
will show that great war debt To Individuals In 3
never before been promptly paid aud we think
all will agree that Secretary McCuioch deserves
great credit for the ability he has snieste, not
only IN securing the means. but for the financial
kill he has display ed ia directing these vast
receipts and Disbursements as not for moment
10 disturb the equilibrium of commerce, embar
rass Individuals or in any way tighten the money
market.
1t is doubtless true that the Secretary OF the
Treasury might have negotiated the remainder
OF his loans at six per cent. interest instead OF
Z 81. but so much valuable time would necessa-
rily have been lost in popularizing new loan
that the great object OF the Government, viz,
an immediate supply OF money sufficient to pay
all the debts inci.ient to the war. would have
been defeated and, besides, the difference OF in
| terest would not have been equal TO three days
expenses The policy may have looked penny
wise" but the best financial authorities. A we'll
common pronounced it pound fool
sh" A il ia, and will be, no soldier will 60
home without his greenbacks. and the hoatin 2
debt in the shape of vouchers. reqnisitions. &c
will be wiped out as rapidly as the proper officers
can audit and adjust the accounts.
The Second Series of the 80 Loan ex-
hausted on Saturday, May 18th. On Monday
/ The Secretary of the Treasury authorized Jay
/ Cooke. the General Subscription Agent for L
| ) Securities. To receive subscriptions for 1920
/ GOO 600 OF Third Series, which il all thai is
authorized by Congress and is without doub,
the 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 Govern meni
reserves the right of paving interest at SIX per
cent in gold instead OF seven and three tenths in
| currency right which would pre- suppose a
return TO specie payments, and make six pei
cent in gold even better than the higher rate
| in currency consu mmation most devoutly tc
| be wished
The privilege of converting the notes into SGT
SIX ger cent gold bonds at the end OF three years
or receiving payment at maturity. al the holder
| option j. retslned.
The FIRST day OF the Third Series opened with
a subscription within fraction OF five millions
aud The month OF June will certainly see the lss
oI the s-3O's ou' OF market How early in Jun;
We cannot predict. but parties who wish 10 max,
sure Of a PARTON. would DO we'll to be il time
Full particulars NAV be found ia our adve.tis
ing columns