The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1865-05-24
. fhs ThIrd SsrIe. Of seven 7hirtI...


The great success Of the 7.so Loan must al
ways be looked upon as one Of the most
powerful evidences OF the strength of the
United States Governmeni, and of its strong
hold upon the confidence and affection OF
the people. On Saturday, May Islh, the
subscriptions were over thirty million dollars,
and for the week ending on that day, over
niaeiy-sieh million dollars. and in the thres
months that the Loan has been in the charge
oiMr. JaY Cooke, ouer fvs hundred million doi-
ars. These large receipts will enable the
Treasury to pay of our armies as they are
dssbanded, and TO rapidly discharge the va.
rious obligations that have been incurred
during the war History will show that
great wsr-debi TO individnaIs has never be-
fore been so promptly paid and we think
all will agree that Secretary McCuIloch de.
serves great credit for The ability he has
manifested. not only in securing the means.
hut Tor the financial skill he has displayed
10 30 directing these vast receipts and dis
bnfsements as not for moment 20 disturb
the equilibrium Of commerce, embsTass
individuals, or in any way tighten The mon
ey market II is doubtless true that the
Secretary Of the Treasury might have nego-
hated lhe remainder OF bis Loans at six per
cent interest instead of 100, but 80 much
valuable time would necessarily have been
Iosi 10 popularizing new loan that the
piest objec: Of the Government, viz, an i'm
mediate supply OF money sufficient 10 pay
all the debts incident 10 the var, would
Fave been defeated and besides, The differ
ence of interest would not have been equal
10 three days expenses. The policy may
have looked epenny wise" but the best
fiinenciAl authorities. as weII as common
sense, pronounced il '2obnd foolish" As
il Island will be, no soldier will go home
without his ereenbacks, and a floating debt
in The shape OF vouchers, acquisitions, &C.,
viii be wiped out as rapidly as the poor
officers can audit and adjust the accounts.
The Second Series OF he 100 Loan was
exhausted on Saturday, May 18Th. On
Monday. the Secretary OF the Treasury au-
fhorized Jay Cooke, the general Subscrip-
ION Agenl for S. Securities, 10 receive
inscriptions for $3.50 600 900 of Third
Series, which is all that is authorized by
Congress, and is without doub, the last loan
al this high rate OF interest that will be Of
fersd by the government
There is no change in the terms or con
dilions Of this Third Series, except tEat the
Government reserves the right Of paying ia
terest al six per cent. in gold instead Of
seven and three tenth in cnrrency-a right
which would pre-suppose return TO specie
payments. and make six per cent in gold
even better than the higher rate incurrsncy
Ia coDsumalion most devoaiy to be wish
3D.
The privilege Of converting the Hoies into
$40 six per cent. gold bonds al the end OF
three years, or receiving payment al matu-
TiIy, at the holders option, is retained
The issl day of ;he Third Series opened
viih subscription within fraction OF FIVE
millions. and the month of Jnne will certain
" see The las, Of the 73os on: Of markell
How early in jane We cannot predict, but
parties who wish 10 mako sure OF a portion
would do we'll TO be in time.
Full particulars may be fonad in our adj
verIising columns.