Sioux City register. [volume] (Sioux City, Iowa) 1858-1871, 1865-06-03
THE THIRD Sc RES OF SEVEN.
THIRTIE1.

r The great SUGGEST Of the 80 Loan must
always be looked upon a. ore Of the most
powerful evidences Of the strength Of tho
United States Government, and Of ito
strong hold upon the confidence and a.
factions Of the people. On Saturday,
May 18th, the subscriptions were over
thirty million dollars, and for the week
ending on that day, Of ninety eight mil
lion dollars, and in the three months that
the Loan has been in the hands of Mr..
Jay Cooke. over fee hundred million dol
lars. These large receipts vii! enable the
Treasury 10 pay off cur armies as they are
disbanded, aud to rapidly discharge the
various obligations that have been INCUR
ed during the war. History will show
that a great war debt to indvijuals has
never before been so promptly paid; and
we think all will agree that Secretary Nc.
Culloch deserves great credit for the abil.
ity he has manifested, not only in secur-
ing the means, but for The financial skill
he has displayed in SO directing these vast
receipts and disbursements as not for
momen. to disturb the equilibrium Of com
merce, embarrass individuals, or in any
way tighten the money market It is
doubtless true that the Secretary Of the
Treasury might have negotiated The re
mainder Of his loans at SIX per cent. in
terest instead of 100, but so much valuable
time would necessarily have been les, in
popularizing new loan that tue great OBJ
jcc. Of the Government, viz, an imme
date supply of money ru!licie"! t. pay al.
the debts incident TO the war, would have
defeated; and besides, the difference 0:
interest would not have been equal to
three days expenses. The policy may
have looked penny wise,' but tho best
financial authorities, as we'll ns common
Sense, pronounced it "puunl foolish. -
Is i, is and Will be, no soldier vii! 90
home without his greenbacks. AID the
lonting dcat in the shape of vouchers,
acquisitions, g., vii! be wiped out Ger.
tain'y as rapidly as the proper officers can
audi! and adjus. the accounts.
The Second S>r,es OF the 80 Loan was
exhausted ON Saturday, May 18Th. Oh
Monday, The Secretary Of the Treasury
authorized Jay Cooke, the general Sub
strip.ion Agen. for L. S Securities. TO
receive subscriptions for $3.50, 100000 Of
Ct a Third Series, which ia all that 10 au.
thorized by Congress. and is without doub:
he last loan at this high rate Of interest
tLa! will be offered by the Government.
There 10 20 change ia the terms or con.
ditions Of this Third Series, except that
the Government reserves the right Of pay.
ing interest at six per cent. in gold even
better Than the higher rate in currency
3 contamination most dcvou,ly to be ~ish.
ed.
The privilege Of converting tho note in.
to $50 six per cent. gold bonds at the
end Of three years, o. receiving payment
at maturity, At the ho!er's ep:iou, is re.
tanned
The FIRST day Of the Third Series opened
with subscription within fraction Of Eve
millions, ind the month Of June will Ger.
tainly see the last Of The 1905 out Of the
market. How early in Juns we cannot
predict. but parties who wish to make
e''of portion would d, ei! to 90 ia
time.
Full particulars may be found in our
advertising columns.