The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1865-05-24

The THIRD SERIES OF 7.3O,.-The
great success of the 7.80 loan must al
ways be looked upon as one of the most
powerful evidences Of the strength of the
United States Government, and of Its
strong hold upon the confidence and af-
fections of the people. On Saturday,
May 18th, the subscriptions were over
thirty million dollars, and for the week
ending on that day, over nnety-eiyM mil
lion dollars, and in the three months that
the Loan has been in charge of Mr. JAY
Cooke, over fire hundrcd million dollars.
These large receipts will enable the Treas
ury to pay off our armies as they are dis
banded, and to rapidly discharge the
various obligations that have been incur
red during the war. History will show
that great war-debt to individuals has
never before been so promptly paid and
we think all will agree that Secretary
McCulloch deserves great credit for the
ability lac has manifested, not only in Sc
curing the means, but iol the financial
skill he has displayed in so directing these
vast receipts and disbursements as not for
Il moment to disturb the equilibrium of
commerce, embarrass individuals, or in
any way tighten the money market. 1t
is doubtless true that The Secretary of the
Treasury might have negotiated the re-
malndcr OF hls loans at six per cent. IN
tercst instead Of 100, but. so much valu-
able time would necessarily have been
lost in popularizing "A new loan that the
great object Of the Government. viz. an
immc.lIe supply Of money soili,.irnt to
pay ui inc deus luclu,ul To the war.
would have been defeated: and besides.
the difference oil interest would not have
been equal to three days expenses. The
policy may have looked 'pcnny wise. ="
but the best financial authorities, rs well
IL common sense, pronounced it "pound
foolish As it is-and will be, no sol
der will 90 home without his grccnbacks.
and the floating debt IN the shape OF
vouchers acquisitions, &c, will be wiped
out as rapidly as the proper officers can
audit and adjust the accounts
The Second Series OF the $50 Loan
was exhausted on Saturday. May 18Th.
On Monday the Secretary Of the Treas
my authorized JAY COOKE, the general
Subscription Agent for L. =. Securities,
to receive subscriptions for $3.50, 0 5000
Of Il Third Series, which is all that is
authorized by Congress, and is without
doubt the last loan at this high rate of
interest that will be offered by the Gov
eminent.
There is no change in the terms or con-
diiions Of tlas Third Series, except that
Government reserves the right of paying
interest at six per cent. in gold instead Of
seven and three-tenths in currency IA
right which would pre-suppose return
TO specie payments, and make six per
cent. in gold even better than the higher
rate in cnrrency--a contamination most
devouily to be wished
Tie privilege Of converting the notes
into $50 six per cent. gold bonds at the
end Of three years, or receiving payment
at maturity, at the holders option, is re-
tanned.
The first day Of the Third Series open
ed with a subscription within fraction
of five millions, and the month of June
will certainly see the last of the 73Os out
Of market. How early in June we can
not predict, bat parties who wish to make
sp'e OF a portion would do well to be in
time.
Full particulars may be found in our
advertising columns.