Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1865-05-26
THE THIRD SERIES OF SEVEN
THIRTIES.

The great success Of the 30 Loan must al
powerful evidences OF strength of the United
States Government, and Of its strong hold
ubon the confidence and affections Of the peo-
pie. On Saturday, May 18Th, the supscrip-
tions were over thirty million dollars, and for
the week ending that day, over ninety
eight million dollars, and in the three months
that the Loan has been in charge of Mr.. JAY
COOKE, over fire hundred million dollars
These large receipts will enable the Treasury
to pay of our armies as they are disbanded,
and to rapidly discharge the various obliga-
tions that have been incurred 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 Secre-
tsry McCulloch deserves great credit for the
ability he has manifested, not only in secur-
ing the means, but for the financial skill he
has displayed in SO directing these vast re-
ceipts and disbursements as not for a moment
to disturb the equilibrium Of commerce, en-
barrass individuals, or in any way tighten
the money market. 1t is doubtless true that
the Secretary of the Treasury might have
negotiated the remainder of his loans at six
per cent. interest instead of 7-30, but so
much valuable time would necessarily have
been lost 10 popularziDg new loan that the
great object of the Government, viz, an i'm
mediate supply of money sufficient to pay all
the debts incident to the war, would have
been defeated; and besides, the difference of
interest would not have been equal to three
days expenses. The policy may have locked
" penny wise" but the best financial authori-
ties, as we'll as common sense, pronounced it
"pound foolish" AS it is--and will be, no
soldier will go home without his kreenbacks,
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 7-30 Loan was
exhausted on Saturday. May 18th. On Mon
day the Secretary of the Treasury authorized
JAY Cooke, the general Subscription Agent
for L. S, Securities, to receive subscriptions
for $3.50. 900, 900 of 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 Govern
ment.
There is no change in the terms or condit-
tnna 81 thta ThiK1 Cariaa that
Government reserves the right of paying in
terest at six per cent. in gold instead ofseyer
and three-tenths in currency--a right which
would pre-suppose return to specie pay
ments, and make six per cent in gold ever
better thar the higher rate in currency.
contamination most devoutly to be wished.
A The privilege of converting the notes int
$50 six per cent. gold boLds at the end
three years, or receiving payment at maturity.
at the holders option, is retained.
The first OF the Third Series opened With
aud the month of June will certainly see the
las, Of the 7-30s out Of market. How earl,
in June we cannot predict, but parties VIII
wish to make sure of portion would do wei
to be in time.
Full particulars may be found in our adver
tising columns.
DIED Of hard treatment at Andersonville
Georgia, prisoner in the hands OF the rebels
on the I'd Of March, 1865, Adolphus Perry
of Cabot, W., Co. H, 4th Regt. Vt. volui
teers.
His funeral services will be held. on the
Sd. Sabbath in Juue next.