Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1865-05-25
The Third Series of Seven -Thirties

The great success Of the 40 Loan must ALWAYS
be looked upon one of the most powerful evil
dences Of the strength of the United States Gov
eminent. and of its strong hold upon the confidence
and affections of the people. On Saturday May
18th. the subscriptions were over thirty million
dollars, and for the week ending that day. over
sinety-eigb million dOildrs, and in the three
months that the Loan has been in charge of Mr.
OAR CooKE, ouer fee hundred million dolLars-
These large receipts will enable the Treasury to
pay of our armies they are dsbanded, and to
rapidly discharge the various obligations that have
been incurred during the History wi show
that great war-debt to individuals has never be-
fore been so promptly paid and we think all will
agree that Secretary McCulloch deserves great
credit for The ability he has manifested, not only
In securing the means. but for the financial skill
he has displayed in directing these vast receipts
and disbursements as not for moment to disturb
the equilibrium of commerce, embarraas individ-
nails, or in any way tighten the money market. 1t
70 doubtless true that the Secretary of the Treas
nry might have negotiated the remainder of bis
loans at SIX per cent interest instead of 730, but
90 much valuable time would necessarily have
been lost in popularizing new loan that the great
object Of the Government, viz, an immediate
supply ofmoney sufficient to pay all the debts in
cident to the war, would hare been defeated; and
besides the difference Of interest would not have
been equal to three days. expense. The policy
may have looked "penny wise,'' but the best inan-
cial authorities. well as common sense, pronoun-
ed It 'pound foolish" AS itis-and will be, no
soldier will go home without his greenbacks, and
the floating debt in the shape of vouchers requisi
tons, &C., will be wiped out rapidly as the pro
per officers can audit and adjust the accounts.
The Second Series of the $50 Loan was ex-
hausted on Saturday, May 18th. On Monday the
Secretary of the Treasury authorized jar CooKE,
the general Subscription Agent for U. s. Securi.
ties to receive subscriptions for 1920, 900 900 of
Third Series, which is all that is authorized by
Congress- and is without doubt the last loan at this
high rate Of interest that viii be offered by the
Government.
There is no change in the terms or conditions
Of this Third Series, excep. that the Government
reserves the right of paying interest at six per cent
in gold instead ofseven and three-tenths in cur
rency-a right which would pre-suppose a return
70 specie payments, and make six per cent in gold
even better than the higher rate il currency
eonsummafion most devoutly to be wished.
The privilege ofconverting the notes into $50
Elk per cent gold bonds at the end of three years.
or receiving payment at maturity, at the holders
option, isretained.
The first day of the Third Series opened with
subscription within fraction of 1--WE Millions and
the 1905 ont of market. 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 map be found in our advertising
hnns.