The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-06-23
SUCCESS OF THE NEW LOAN.


From the Philadelphia Times.
The government has offered 5000 OOO 900
| of the new loan for popular subscription
| and made every postofliCe and depository
| OF the government an agent for the sale
| of the bonds. They are issued as low as
| $50, and the response of the people IN
every section of the country warrants
the belief that before the l4th of July
much more than the $500 100000 offered
| will be taken entirely by subscriptions
not exceeding $500 each. The government
already holds propositions tor more than
double ana probably quadruplc the entire
| 500 0oO.OOO, one syndicate of bankers has
filed IN offer to take the entire amount,
| but 1t is now evident that the whole sum
offered will be absorbed by small sub
sCIiptions and thus be very generally diff
fused among the masses OF the people
ID.
So popular is this new loan that 1t is
| likely TO be offered to the public through
various business channels outside OF
postmastcrs and financial officials OF the
goN elnmcnt. President J.. {. Weir OF
the Adams Express company, promptly
offered to the government the service OF
its complete system of agents through
out The country to offer the loan to tho
public without charge, ana the govern
ment gave a ready assent. The patriol,c
record made by the Adams Express com
pany during the civil war is Still cher
iShed in grateful remembrance. 1t thal
rendered a much greater service than it
can give row, only for the reason that
the government is not now greatly IN
need OF such service, bat II was surely
in want of just the aid that the Adams
Express company could give it IN the
trying times OF the rebellion. 1t has al
ready furnished all it's various offices
from one end of the country to tho other
the blank forms of applications for bonds
and explanatory circulars, and as tho SER
vice costs nothing to either the govern
ment or subscribers to the bonds, the
patriotic ana gorerous spirit of the COM
pany will be universally appreciated.
%
It should Oe rene nbcrcd that all sub
scrptons of $500 and less arc received as
absolute, ana the bonds will he delivered
as soon as issued. If a larger sum than
500, 900 900 shall be subscribed in sums
not exceeding $500. the subscriptions will
be filled in the order in which they shall
be received, 1t is important, therefore,
that those who are anxious to obtain the
bonds in sums not exceeding $500 should
send their subscriptions as promptly rs
possible. Where they are received by am
agent Of the government, whether a post
master OF 1uSlHcSS man, OF corporation,
the date of the subscription will be the
date of its filing with tho agent. If tho
whole loan shall not be subscribed n
sums OF $500 or less, the remainder will lie
given to the larger subscribers pro rata.
10
The contrast between the credit of the
government at this time end its credit
when civil war came upon us in 1861, is
most Impressive. The first popular loan
attempted in 1861 was for $4,000 900 bear
ing $40 interest, and 1t was with The
greatest difficulty that the bonds could be
disposed of. They We're many times
bought ON the market at less than their
par value. Today the government has
authorized subscriptions for 5000 900 0oO
with S20O, 900 900 more in reserve. bearing
interest at per cent, much less than
half the interest offered IN 1861, and this
loan will be oVersuhscribed in sums Of
500 or less and will command a consid-
erable premium on the market the day
they are issued to the subscribers. The
stability of the government is faithful IS
reflected In the stability of its credit and
1t must now he evident to the whole world
that the people Of the United States mean
to maintain their government, and are