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Address To The People Of Michigan

Address To The People Of Michigan image
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Resolced, Tliat a committee of eight merabera of the House be appointed to pre]nre and 8Bue nn address to the people of the State; explaining the diameter of the bonds issued for the war loan raudo to enable Jliehi gun to take ita place by the side of all loyal States, and do its full duty in the piescnt emiTgonoy, and setting lortli tho reasons why the bonds sliould be takin by the eitizens of this State. Resolved, Thnt the Speaker of the House be added to the Committee. - l'asscd by tlie House of Represcntalives, May 10, 1861. To the Teoplc of the State of Michigan: In aceordance with the foregoing resolution, vo make tho following statement and brief appoal to you : At the lato session of tho Legislature, that body authorized and providod for the issuing by the Governor and Treasurer of bonds of the State, to the araount of $1.000,000 is so rauch should be neecssary for the purpose for which they are designed - Thejr object is to próvido the funds neeessary to ratee, equip and preparo thatporlion of the forces required by Iha General Government to suppress the rebellion ag;iinst its authority, whioh it has beoome the duty of Michigan to furnish. They are to bo bonds, having twenty fivo years to run beforo maturity. They will draw seven per cent interest, whioh will be payublo semi-annur.liy. They will bo issued in sums of not less than $50 and not more than $1,000 each. On all bonds for less tlnn $500 the interest wil] be payable in Detroit, and on all of $500 and upwards it will be payable in New York. To each bond there will bo attached coupons, which are certiticates signed by the State Treasurcr for each instalhnent of interest, statitig the time when it will become duo and where pnynblc, and that it wijl bo payablc to the bourer theroof. These coupons, aa they boconne due, may be cut ofF frotn the bond, and will bo receivable for uil taxes, and will everywhero in the State ba worth so many dollars as they represent. The bonds or the monoy iavested in them will be exeinpted from all taxation under the laws of the State. They will ahvays bo easily exobangcablo for mouey at their value, and before tha peace oi the country was disturbed, would liave sold at from four to eight per cent premium, and will again when order is restored. Thcre isa small sinking fund provided by whieh some small portion of the bonds are redeemable by the State each year, at present amounting to $10,000 per annum. These things are thus partióularly stated that all may perftctly understand the nature and value of the bonds. There needs no argument to prove them good to citizens oí thi.s State who know its condition, popuia tion, wealth and resources, and the comparatively small amount of its public debt This action has only been the embodiment of tho will of tbe people, and in obtdience to its command. The amount of money was inucli too largo to be raised at once by a tax. Vro have no moneyed institutions with large accumulated capita) to advanco it. - The credit of tho State, therefore, in this form, was the oDly alternativa - The mere enactment of the law, howover, will not raise the required funds to euable tho officers of the State to pay the already accumulated and accumulating liabilities inevitably nourred by thera in thu discharge of tho great duty resting upon them. In tho great commercial citios tho demand ior money, both by other powerlul States and the General Government, is already very great, and is hereafter to be immense. So suddenly, and irom so many quarters at once, and so extensivo are the requibitions made upon them, ,hat it has become more than doubtful 1 even the best State credit will commanrl money except at a loss, and it may te doubtful whethor it can be ob. ai lied at all abroad, upon any tolera)le term3. Tho relianco of the State, therefore, nust be mainly upon the patriotism of ïer own citizeus, and upon their zeal ous efforts, by concerted and united iction, to Lring all its available resources to e'nable her to maintain her ast rank in this glorióos galaxy of Otates marching to the support of a 'overnment whiuh involves tho comiion fortunes of them all. In these circumstance.s it cannot be necessary to make any laborea appoal o tho pcople of tliis State, to comeforvard, each according to bia ability, and ako these bonds themaulves. All are Mare of the oondition of tho country, ho peril and danger whieh the gOVernment is called upon to eneoimter, which nvolve not only ita present but also its 'utnre peaco and safety. All appreciate the emergency, and all ieel to its uil extent the duty which dovolves up on them. No words can deepen the convicüon that resta upon the public nind, that all private conveniencies must give'vvay to public necensities - hat, "corno woal, ov come woe," the Stute must occupy its position aecordDgtotta powor and ability, i'ully ibreastot the most loyal State in tliis jreat contest to suppress rebellion and ustain tho honor and integrity of that overnment so long the shield and pró'oction of all their rights - under which hey havo attaiued to such groatncss - round which are clustered so nutny glorious memories, and v,rith whoso estmiea are associatod all the déarest lopes oi themselves and their pos.erity. Such we bjlievo to bc the fcelingand emper of the people ot tliis State - nimated by one common spirit - uenccd and uncontrolled by any otbar ban that holy lovo of country and rcvronce fór its'institutions, which risws igh above all thouglit oi party ana brgots and siiiks every othur considortiou when convinced oí their peril and anger. It is to men animated by such eelings- to tha wholo people of the ttate, therefore, tliat wo appeal to ome tbrward and take these bonds bus to bo issuod and for such purposes o every man we appeal - to those who ro able to subscribo müöh.todo rauch - to tliose who oun úo but little, to ako care thnt t'uey do tliat little. Let ono think bia .small quota, it' small it nust bo, uniinportant. Let sevoral wrties, if necesaary, unitc their strength nd tnake up a fund to subscribe as hey may find it convenient. Lef hero bfl committees in every county to jüiher op the subsoriptloos iu tho uaaie ] oí and send Ihem to John Owen, Esq., the State Treaeurer, That the subscriptions may be larger and more easily paid tlio nrnountiuay be divided into f'our montbly pnyments, thub making available the resources of tlie vear. - Let all subscribo only vvhat thoy" mean certainly to pay. Let all do thoir duty acconjing to the rneana wherewith God hath blessed thoin, putting asido for the present, ill other raeans of investmont and all not absolutely necesKary expenditures, anü Mieliigan ■ will have nobiy done her whole duty, and will stand fofth, though among the young, vet distinguished among tlio noblost States of the Union. JAMES F. JOY, DEXTEIÍ MÜSSEY, CHAS S. ÜKEGORY, TIIOS. P. MOORIi, A. H. MORRÏSON, C. O. D0UGLA8S, ALONZO SESSIOJSTS, T. D. GILBERT, F. A. RANKIN, Committeo. Detroit, May 21, 18G1.


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