The Valentine Democrat. [volume] (Valentine, Cherry Co., Neb.) 1896-1898, 1898-06-23
BUYING WAR BONDS.
SMALL INVESTORS SUBSCRIBE
TO THE POPULAR LOAN.
Results of First Applications Indicate
that Small Investors Will Take En-
tire Issue of $500, 1000, O,OOo-Regard-
cd as First-ciass Securities.
Loan Is n Success.

Loan Is a SUCCESS.
The Government has taken every possi-
BILE step TO make the new bond issue in
every sense q popular loan. While the
great banking syndicates of this country
and Europe are ready and willing to sub
scribe for the entire bond issue, the Treas
ury Department has decided that individ
ual subscriptions will receive attention
first and that the smallest amounts asked
for will be allotted before the larger ones.
This means that any private citizen who
desires to invest little money i'll the new
government bonds will be accommodated
before the mllionaires and the banking
institutions may purchase these desirable
securities.
Small investors regard the new bonds
as first-class securities. and unless all
present indications are misleading the en-
tire issue will be placed before the larger
banking institutions will be permitted to
subscribe. The people want the bonds
and are not whit backward about asking
for them. The sub-treasury, the banks,
postoffice stations and express offices in
New York, Chicago. Philadelphia. Bos-
ton, st. Louis. Cincinnati and other large
cities, as well as many of the smaller
ones, were besieged the first day with
requests for information and for the ap-
plication blanks prescribing the form in
which subscriptions must be made. Con-
servative estimates place the first days
small subscription totals at $3,0O0,000.
In Chicago the days subscription reach
ed $6S5,S6 Experts say more than S10,--
100000 will be subscribed in small sums.
i'll New York alone.
These bonds bear interest at per cent,
payable quarterly. The denominations Of
the coupon bonds are 500 800. $500 and
$1,000; of registered bonds. see, 500,
$500, 81 900. 5000 and $4,000. In terms
they are precisely like all other United
States bonds outstanding-th is, they
are payable in coin.
Secretary Cages letter of instructions,
reveals the precautions taken by the ad-
ministration and the Treasury Depart
ment to make this q popular loan in the
strlctest sense-to insure the small invest
ors getting the bonds if they want them.
Until 3 O'Clock p. IN. July IA, no subscrip-
ton will be honored that calls for more
than $500. All others will be pigeon
holed. If the subscriptions for $500 CT
less exhaust the entire issue of S200.0O0,-
900 the others will stay pigeen-holed.
w EiittEeE OIL lHe TOTAL any re-
main, will be allotted after July IA, and
again the small banks and the man of
money. The allotment of what remains
will commence with t4e smallest subscrib-
er-that is, the manwho wants 5000 or
81 600 worth of bonds will have his appli-
cation honored before that of the nan
who asks for 81 200 or $1,000, and so on.
1t is therefore practically impossible for
TIE IL banks and wealthy men 81 900. .OOV
DID 49, ocl. 2IUU,UO0 OF II
to get any of these bonds if the peopif
Of modest means take adyanf age OF thlS
Month of tisns. nI... .,..a.i.ls ''d1-nZn.es-'
by the banks which some have appeared
to fear is Out of the question, since two
dummies would be needed for every ST.
600 of bonds, and to get block of $780,
coo the boIid seekers would need a whole
regiment u 4 dummies"
The bonds are ali td> be sold to the peo-
pie at fixed price or atpar value. Ihis
is another safeguard for tnee-ffeopIlar fop p fea-
ture of the loan. No fear is entertained
of too rapid absorption of the nations
currency by the bond purchasers. 1t is
figured that most of the money to be put
into bonds will be idle capital. When the
small investors have had their fill. if
there ue any lNlIlg Ielt IOr ire Dig DiuueIS
and banks. they will be permitted to re-
ceive their allotments in installments Of
20 per cent at intervals of forty days TO
guard against rapid absorption of the cur
rency. If the national banks were able to
get held of large blocks, there might be
an imitation of the currency by an issue
of national bank notes against the new
bonds, but this is not real danger on ac-
count of the restrictions against the banks
already noticed