Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1865-05-23
The Third Series 0 f Seven Thirtles.

The great success Of the 7.30 Loan must al.
WAYS be boxed upon as one Of the most power
full evidences Of the strength the United States
Government, and Of It's strong hold upon the con
ddence and affections Of the people. DO saturday,
May Is b. the subscriptions were over hTty mt
li0n dollars, and for the week ending on that day
over nineiy-cigM million dollars, and 10 the three
months that the Loan has BEEN 10 charge OF Mr..
Jay Cookc,orer fpe hundred million dollars. These
large receipts will enibe the Treasury 70 pay OF
our armies as they are dsbanded, and to rapidly
discharge the various obligations that have been
incurred during the war. History will show that
great War-debt 10 individuals Gas never before
been so promptly paid and We think all Will
agree ha. Secretary McUulloch deserves great
credit Tor the ability he has manifested, not only
/ in securing the means, but for the financial skill
he has displayed in so directing these vast receipts
and disbursements as not for q momsn. to disturb
the equilibrium Of commerce, embauas' indyd
uaIs, or in any way tighten the money market
/ ltn doubtless true mat the Secretary OF th'
Treasury might have negotiated the remainder
bis loans al SIX per cent interest instead OF go
but so muCn valuable time would necessarily nave
been lost IN popularizng new loao that th'
great OH let Of the Government, VIZ, an immedl
ate supply Of money sufficient to pay all the debt
incident to the war, would have been defeated
and besides, the ference Of interest would no
have been equal to three days expenses. The
policy may have looked "peuny wise but th'
best financial aulhori les, as we'll as common sense
pronounced it "pound foolish. !" As itis-an'
will be, no soldier will 20 home without his green
backs and tho AAung debt IN the .hape o
vouchers qli.ii1ns, &c, will be wiped out a
rapidly AS Tie tb. proper officers can AUDIT an'
adjust the accounts.
The Second Series of tie 7-3O Loan was *
hausted on Saturday, May 10 h. On Monday
the Secretary Of the Treasury authorized Ji,
Cooke, the general Subscription Agent for L. ,
SECURITIES, to receive subscriptions fer S23OOOO,
600 of Third Series, which is all that is author
Izsd by Congress, and is without doubt the Jas
loan At this high rate OF interest that will be oil
fsred by the Government
There is no change 10 the terms or condition
Of this Third Series, except that the Gevenmer
reserves he right Of paying interest at six pc
cent. IN gold instead Of seven and lhree.tenths
currency "a right which would pre-suppose re
turn 10 ecje p,ymenls, and make SIX per cent
in gold even better than the higher rate in cul
rency--a consummstion most deyou.ly to b
wished.
The privilege Of converting the notes into 5-2
six per cent. gold bonds at the cpd Of three year
or receiving payment at maturity, at the holder
! option, is re aned,
The first day Of the Third Series opened wit
subscription within fraction Of five million
and The mon,h OF June viii certainly see the lal
, OF the : 80, out Of market. How early 10 Jun
, We cannot predict, but parties who sh TO mok
sure Of portion would do well to be in time.
Full particulars may be tout d in our advertiser
columns