The Portland daily press., 1865-05-13
BY TELEGRAPH.
TO THE DAILY PRESS.


Financial
PHILADELPHIA, May IL.
Inc subscriptions to the 80 loan received
Dy Jay Cooke to-day, from all parts of the
Union, amounted to $13, 1920 The follow
Ing are the largest single subscriptions
Third National Band OF Cincinnati 81, 555, 600 !;
FIRST National Bank of New York 81 100000;
Second National Bank of Chicago $545,OO0;
National Bank of the Republic OF Boston ST.
100000; Second National Bank of Boston
100000; First National Bank of Portland
$5OO,OO0; First National Bank of Syracuse,
n. T., $200,0 600; FIRST National Bank of Phila-
delphia 100000; FIRST National Bank of
Baltimore 100000; Fisk d Hatch of New
York, 81 1870 Bank of North Bennington,
Vt, 100000; National Brink of the Metropo-
lis, Washington, 100000; Second National
Bank of Cleveland 100000. There were also
9613 individual subscriptions for $50 and 800
each.
A statement OF the issues of the 7-30 bonds
is now circulating through the newspapers,
whose inaccuracies we are requested to cor
rect Congress in July, 1884 authorized the
Secretary of the Treasury to borrow four hun
dred million dollars in such form as he deem
ed best. or this amount one hundred millions
we're issued as 10 40's, seventy millions as
5-20's, and thirty millions as 1905.
On the I'd OF last March, Congress author
lied further loan of $60O,0OOO0O. Seventy
millions OF this was taken and added to the
two hundred and thirty millions of 3O's is
sued under the act of July, 1884, to round it
up to three hundred millions this made the
first series of the 7-30 loln). leaving five hun
dred thirty millions unissued of the amount
authorized by the last act.
The issue of three hundred millions of il as
1905 was directed by the Secretary of the
'l'rQQauru Thar olo Oh a
of April last This was the second series of
the 7-30 loans. Its sale has averaged between
eight and nine millions day. About thirty
five millions of 1t remains this 18th day of
May. When it is sold, there will be left at the
disposal OF the Secretary of the Treasury, un-
der the act of March Sd, 1866, two hundred
and thirty millions. 1t is presumed that this
amount will be issued in the shape OF third
series OF Z 30 loan, payable in three years
from the 18th of October next, and that it will
have as rapid sale as the preceding series
have had.
The Government will then be enabled to
pay all dues to soldiers, contractors and other
creditors, and to liquidated all floating claims
against the Treasury.
The public sentiment in the large cities is
that there never has been such a prompt dis
charge of national debts at the close of great
war. Never in the world has such spectacle
OF a whole people pressing forward to supply
their government with the means to pay OF
vast body of war claims that succeed war
debt. All feel that the Secretary OF the Trea-
sury is entitled to the greatest praise for the
successful management of his department, and
the business like energy and tactics displayed
10 all his plans and purposes.
1t is doubtless true that many deem the rate
paid by the Government under our improved
circumstances are high, and that it could be
reduced to six per cent currency loan, and
1t is supposed that Mr.. McCulloch has had this
matter pressed up n his careful consideration;
but his best and most earnest advisers insist
that no change shall be made, and that the
paltry amount saved to the Government would
be no equivalent for risk of failure, or the
risk of depressing the present popular passion
for the loan.