Show we print the following which must on the most cursory perusal commend itself to the consideration of all persons of means as well from the security of the investment offered as from the fact that he who becomes the creditor of the united states at the present time is in reality lending the government his aid quite is as effectually within his sphere as liis his neighbor who unable 0 o assist aist the country in chis ilai UA r s t i t mt t I 1 a i 1 i 1 ton aliw riff 0 arm aaa abild B Id loul I 1 1 att I 1 1 1 1 dered musket to the people of the united states TREA TREASURY department july 25 1864 f by an act of congress approved june 30 1864 the secretary of the treasury is is authorized cizl d to issue an amount not two hundred hund millions of dollars in treasury notes bearing interest at a rate not exceeding seven and three tenths per redeemable after three years ars from date and to exchange the same for ta lawful W ful money the secretary is further authorized zed to convert the same into bonds bearing interest at a rate not exceeding six six per cen turn payable in coin in kursu pursuance ance of the authority thus conferred I 1 now offer to the people of the united states treasury notes as described in my advertisement dated july 25 1864 the circumstances under which this loan is asked for and your aid invoked though differing widely from the existing state of affairs three years ago are such as afford equal tl ell cn coura r gement and security time while proving that vie the struggle for national unity was to exceed in duration and severity our worst anticipations lias has tested the national strength and developed the national resources to an ail extent alike unexpected and remarkable exciting equal astonishment at home and abroad th three ree years acar of war have lave burdened you with a debt which but three years since since would have seemed beyond your ability to meet yet the accumulated ac wealth and productive energies of the nation have proved joabe to be so vast that it J llis lias been be n borne with comparative ampara ive case c mid and aj a peaceful ff la future I 1 A w would 1 0 ik ld hardly 1 1 W feel its weight wei glit As a price brice paid for national existence and the preservation of free institutions it does docs not deserve a moments consideration thus far the war has been supported and carried on as it only could have been by a people resented re ed at whatever chate verb cost of blood aad treasure to transmit unimpaired to posterity the system of free government bequeathed to them by the great men who framed it this deliberate and patriotic resolve has developed a power surprising ing i even to themselves it lins has shown that in less than a cen century a nation has arisen unsurpassed in in vi vigor gol and exhaustless in resources able to conduct condu cf through a series of years war on its yoost most gigantic scale and finding itself when near its close almost unimpaired imp alred in all the material materi elements of power it has at the great armies armies I 1 in in tha field afield facing an enemy apparently a approaching pro aching a period of utter exhaustion bp but ut still struggling straggling with a force the greater and more desperate as it sees and because it sees the near approach of a final and fatal consummation such in my deliberate judgment is the alie present condition of the great contest for civil liberty in which you are arc now engaged up to the present moment you have readily an and d cheerfully afforded the means necessary to support your government in this protracted struggle it is your war wa you proclaimed it and you have sustained aueta ned ined it against traitors trai tora everywhere with a patriotic devotion unsurpassed p assed in the worlds history lii story the securities offered are such as should command your ready confidence much aluch effort basteen lias bas been made to shake public faith in our national credit both at home and abroad As yet YA we have bave asked no foreign aid calm and self reliant our own means have thus far proved adequate to our wants they are yet ample to of the present and the ilic future it still remaina for a patriotic atri OT tic people to furnish the the needful supply the brave men who are arc I 1 fi fighting biting our battles by land twid and sea must be fet fed and clothed munitions muni tiong of war of all kinds must be furnished or the war must end in defeat and disgrace this is not the time for any lover of his hia country to inquire inqui reL as to th alie state estate of the money market or ask aak whether lie he can so invest his surplus capital as to yield him a larger return no ko return and no profit can be desirable if followed by national dissolution or national disgrace present profit thus acquired is but the precursor of future and speedy destruction no investment ean can be so surely profitable as that which tendis to insure xu tenae t i r r nw law belew lua by ht t may soon bo be placed upon a sounder and more stable footing the present deranged condition of the currency is imputable in in a gr great cat deaice to disturbances arising from the with granval of necessary checks olten often inevitable in time of war when expenditures must exceed any possible supply of coin the opportunities thus presented to acquire sudden wealth have led to vicious speculation a consequent increase of prices and violent fluctuation the remedy is to be foai found ad only in the agete the evil hitherto we uve hive felt the needom niom more extensive and vigorous oro us taxation severe comment hits has been made madd upon what seemed to many an undue timidity and tat tardiness diness of action on the part ot of congress in this regard I 1 deem it but just to say that very great misapprehension has existed anh and perhaps still exists upon this point legislators like all others have much to learn in a new condition of afra affairs irs an entirely new system was to be devised and that system must necessarily be 10 the growth growall of time and experience it is not strange 0 that first efforts should have proved imperfect and inadequate to lay heavy burdens on oil a grea great and tand patriotic people in such ai a manner as to be equal and as to occasion the le least ast amoun amount t of buffe suffering rinar or ann annoyance boyance requires time and caution tl on 7 and yat vast labor and with nil all these experience per peri lence ence is is needful to test the value of the system and correct its errors such has boon the work was called upon to perform I 1 am happy to say that daily estil es til ts are proving the internal revenue adt act to exceed in efficiency the most sanguine expectations of its wi authors thors in the month of june 1863 it yielded about four and one halt half millions of dollars while the corresponding I 1 month of this year returned ab about 0 ut fifteen anil millions lions under the same law under the now new law which went into operation on dil the first day of the present month the treasury not ini frequently receives one million in a day As time and experience 1 enable tho the officers employed ernp loyad in colle collecting e epting the revenue to enforce the stringent provisions of the now nev law I 1 trust that a million per lay day will be found the rulo rule aa and d not the elc exception eption still much space is undoubtedly left for improvement pro pyo provement in the law and in its adain admin administration as a g greater reater amount of lieness necessary ary information tufit lon is is acquired tho the proper sources of revenue and the most effective modes of obtaining C it are bust best developed in the execution of existing laws and I 1 have caused measures to be initiated which will ivill it is be IW ytol ehab I 1 a Con congress grees i lao to improve and e enlarge the system as when taken in connect tion with the revenue from customs and other sources to afford an ample and secure basis for the national credit only on oil such a basis and in a steady and vicror vigorous 0 ous restraint upon currency can a remedy be found for existing evils such restraint can only be exercised when la the government is furnished with means to provide for its necessities but without the aid of a patriotic people auy any government is powe powerless aless for this or any other desirable end the denomination of the notes proposed to be issued ranging from fifty to five thousand dollars place these securities within the reach of all who are disposed to aid thir their country for their redemption the faith and honor and property of 0 that country are arc solemnly pledged A successful issue to this contest now believed to be near at hand will largely enhance their value to the holder and peace once restored all burdens can be lightly borne ho he wil who 0 selfishly withholds his aid in the hope of turn ing his available vadana to greater immediate profit is 13 speculating upon his count rys misfortunes and may find that i what seems to be present gain leads only to io future loss I 1 appeal therefore with confidence to a loyal and patriotic people and invoke the efforts of au who love their country and desire for it 1 a glorious future to aid their government in its credit and placing that credit upon a stable foundation W P seely scoy of tresy |