SIR: Under certain conditions I will donate to the Government of the United States the sum of $2,400,000,000 in gold bars, which I will deliver to the treasury department at the rate of $100,000,000 per month, during the ensuing two years. The money coined from, or issued upon, these gold bars, shall constitute a perpetual fund, to be loaned at two per cent per annum to the farmers of the country, the fund never to be diminished or appropriated for any other purpose, although the interest received from it may be used to aid in defraying the ordinary expenses of government. The amounts to be loaned may be apportioned among the several States and Territories, according to their populations as given by the last census, but the loaning must proceed from, and be under the control of a department of the Federal government, to be created by Congress for that purpose. Loans may be made payable at any time, at the option of the borrower, and may remain indefinitely, so long as the interest is paid, and must be secured by pledge of productive land. Not more than one-half the actual cash value of the land, without estimating improvements, must be loaned, or more than $10,000 to any one borrower, or more than $20 per acre in any case. The celerity with which Congress, during the War of the Rebellion, created an effective system of revenue and finance, leads me to the conclusion that it will be equally apt in the creation of the necessary legal machinery to speedily effectuate a permanent and safe system for making loans to the people. I shall trust implicitly to the wisdom and patriotism of Congress to carry out details if my gift is accepted, as I think I may assume it will be, and I shall attempt no interference with its action, even by suggestion, beyond stating the conditions upon which the fund of $2,400,000,000 will be provided. It will, possibly, not be out of place for me to assign here a few of the reasons why I require that loans be limited to the owners of productive land, and why I do not permit dwellers in towns and cities, and those engaged in commerce and manufactures, to share in the opportunity for procuring cheap money. To this very natural inquiry I might answer that I have already arranged in San Francisco, in Chicago, and in New York, for aiding co-operative labor corporations to procure, at a low rate of interest, the money necessary for their use; that I design extending similar aid in other localities, and that I hear of several instances of other gentlemen conveying large sums in trust for such purposes. But the duty of aiding the farmers to cheap money is so great, and so pressing, and extends to so many persons, and over so large an area, that any concerted effort in such direction is not only beyond the capacity of individual wealth owners, but requires the machinery and power of government for its adequate discharge.