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The Third Series Of Seven-thirties

The Third Series Of Seven-thirties image
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The great succes of the 7-30 Loan nust always bo looked upon as ono oi' Ui most i powerful evidences ot' tlie itrenth of the United States Government, and of its' etrong hold upon the confidenco and affectious Of tho poojile. On Saturday, May IStli, the! subscriptions were over thirty million dollars, and for tho week ending on that day, over ninetyeiyht million dollars, and in the throe montha that the Loan has been in charge of Mr. Jay Cocke, overfive hundred mUlion dollars. These large receipts will enable the Treasury to pay (.ft our arniies as they are disbanded, and to rapidly dlsoharge the various obligatious that have beon ineurred duiing the war. History will show that a great war-debt to individuáis has never befora been so promptly paid ; and we think all will agree Ihat Secreta McCulloch desevves great credit tor the ability h ha iii.imfVsted, not only ia secnring the means, hut for the financia! skill lie bas displayed in so diu-ctinü th-'so vast receipta and disbiirsenmiitj as not for a moment to disturb tin" equilibiiuiH of cömimeroe, ernbarrass individuáis, or in any way tigbteu the raoney niaiket. lt is doubtlcss tn.o tliat the Sec reta 17 of th ïreasury miglit have ueeotiated tho rémaiuder of hl loans at ix per oent. interest instead of 7-30, but so mach valuable time would have been in popularizing a ni w loan that the reat object of the Government, viz., an mi mediale sapply of mout-y sufficient 10 pay all tho debts"incident to the war, would have been defeated and besides, the difference of interest would not have been equal to three days expenses. Tho polioy may have looked "penny wise," but the best finaneial authorities as well as cunnnon sense, pronunced it "po'und foolish." As it is- and will be, no soldier will go home without his greenbacks, and the fioalinR debt in the shape of vouchers requisitions, &c , will be wiped out as rapidly as t'ie proper officers oan audit and adjust the accounts. The Second So íes of the 7 30 Loan was e.xhausted on Saturday, May 13th. On Monday, the Secretary of the Treasury authonzed Jay Cookk, the general Subscription Agent for ü. S. Securities, to receive subscriptions for $230 000 000 of a l'hird Serie, which is all that is authorized by Oongress, and is without doubt the last loan at this high rate oí interest that will be oöered by the Gorerument. There is fio chaoge in the terras or ccnditions of this Tfaird Series, except that the Government reserves the right of paying interest at six per oent. in gold instead of seveu and three-tenths in currency- right wbich would pre-suppoee a return to specie pfments, and make six per cent. io gold even better than the higlier rate in c.urrncy- a consummation most devoutly to be wished. The privilege of converting th notes into 6-20 ix per cent. gold bonds at the end of three yoars, or receiving payin-ent at uaaturitv, at the holder's option, is retained. The first day of the Third Series opened with a Bubscription within a fraction of iive mülions, and the month of June will certainly see tlw last f the 7-30s out of inarket. How early in June we cannot predict, bot partjes who wish to tnake aure of a portion would do well to be in time. Pull pajticalars vnay be found in our advertising columns. t3P The June nmnber of the Atlantic MorMdy has a list of very readable papers.- The three seriáis "Needie and Garden," "Dr. Johns," pnd " Tbe Ohinuwy Cemer," continue their interest, wfaile the n?w paper oover a wide range, ttiough several are pertinent to ihi recertt greaterents wliich htvetranspired. This number completes the XV. volume. $4 a yrar; two copies, ?7. Address Messrs. Tickxor & Fields, Boston. - From t'ke eame jjubüshers we have the, Juee number of Our Young Folks, wifh a table of conients both amusing and instructire. ' Winning Hm Way," and " Farming for Boys," are alone worth to "Young America " the price of the number, and thej' are oniy a smtll portion of the interesting budget. 8'2 a year ; with the Atlantic $5. - Wp have once sugaested that one copy of the Atlantic is all we can read. Te are regularly g Uing Uoo. How is it Measrs. T. & Ps.


Old News
Michigan Argus