New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-06-06
HELP YOURSELVES BY HELPING THE

LOAN
The Government has sold sixty-siX millions
of its new Five per Cent Loan, thereby re-
ducing the annual burden of interest on the
people by two-thirds of million and 1t now
announces that a hundred and thrty-tour
millions more are for sale. This, when placed,
will increase the annual saving of interest to
two millions.
We suppose this single statement ought to
be sufficient to make every citizen OF the
United States well-wisher of the Loan Par
tisan malignity has gone far enough to induce
the grossest attacks upon 1t, and upon
the Secretary for endeavoring to place
it; and throughout the Press there
has been evinced less general tendency than
we could wish to lend a friendly hand to an
effort which, in the exact measure OF its sue
cess, puts money in every mans pocket. 1herels
indeed anotherand almost equally strong reason
for claiming the exertons, in its behalf, OF every
| right thinking citizen. liquidation Is not
an abandoned heresy, even at the North. AL
| the very moment when they were processing
| a desire to turn over new leaf and abandon
| the fatal tenets which have condemned them
| to uninterrupted defeat, the progressive Demo
| Gratis of Ohio once more raise the thieves
| cry. and delude each other into believing
that they can carry the State upon it, If
| Democrats who have wisdom enough to have
made the discovery that there has been war,
and that it settled something believe this,
what must we expect from the Democrats OF
Kentucky Or of Mississippi Or of South
Carolinaq The one way, the imperative
way, to avert the danger which this
attitude of great party, commanding nearly
one-half of the Nations votes, keeps con-
stantly before us, is to deprive them of the
demagogue's plea that we are paying extrava-
CANT interest on the face of bonds that
were originally sold in our sorest straits
for half their face. Perhaps we may not
so readily, dispose of the four and the four
and half per cent loans, but the progress
already made shows the prompt success of
the five per cents to be possible. Why will
not every journal that wishes well to the
Country, every public man that prizes our
financial good name, every citizen that pays
taxes, help to hasten it 7
There are many reasons why this loan is
intrinsically good and there are as many why
il is better than any other Government bond
now offered in the markets of the world. 1t
is intrinsically good because the progress
already made, (reducing the aggregate from
50, 100000 to S2,2GO,OOOOOO) shows the power
and the purpose of the Government
to pay the Debt; because the reduction of the
burden, accompanied as it has been, by re-
duction of taxes, reduces the temptation to the
danger threatened by the Democrats; because
every bond sold instead of creating an addi-
ton to the Debt actually makes it smaller;
because the Country is more prosperous, public
burdens are lighter, public resources constant
ly developing, population increasing, and
the weight of the Debt per capita,
decreasing. 1t is better than any loan
offered by any other Government in the world,
because the war has left ours stronger than
any other, because its settlement of our gravest
dangers promises us a long period of peace
and prosperity, because we are the only
Government unthreatened by the perils
now cOnvulsing Paris and startling
all Europe. 1t should be constantly remem
bered that we are not adding to the volume
of our Indebtedness, not creating fur
ther supply of Government bonds. For
every bond now issued, an old one draw
ing higher interest is Cancelled; and
meantime we keep steadily on, paying
off the Debt from our surplus resources, at a
rate which, during Gen. Grants whole admin
istration, has averaged ten millions per month!
we are reducing expenditures,
taxes, and preparing to continue in
power the Party under whose auspices these
splendid results have been achieved. Then let
us all unite and save money for ourselves by
helping on the new Loan!