The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-07-26
100000 PEOPLE
Subscribe For Bonds Below $500 in
Amount.

Amount.
Washington, July 26-The following
statement concerning the new bond is
sue was made at the treasury depart
ment today:
THE first shipment of the new war
bonds has been made. They consisted
of one thousand bonds of $40 each and
1000 bonds of $500 each. The public
mind is poorly prepared to comprehend
the enormous labor and the multitud-
nous delays connected with this great
popular loan. In the first place after
the rejection and return of thousands
OF subscriptions to which no allotment
could be made, there remain about 300,
900 persons to whom bonds will be al
lOtted and forwarded in due course by
express. It is not a question only of
300. 900 names. The name, including
state, county. town and street number
of each subscriber, must be Transcribed
and written in various ways, at least
ten times. This is equivalent to enter
ing once, thus fully extended, 5000, 900
or more names.
but part of the problem; the collection
of checks and drafts received as pay
ment for bonds, the computation of in
tereSt, preparation of checks in settle
ment of the same, the engraving and
printing of ten kinds of denominations
of bonds, the accurate disposition of
these in envelopes properly addressed;
all these are a part of the problem
that must be solved without error or
omission. one simple fact will i'm
press the mind with the magnitude of
the operation. Each envelope must be
sealed with three seals, which means
that $780, 900 seals in wax must be i'm
printed to outgoing bonds.
Another important feature is the linn
itation in the ability of the express
agency to receive, forward and deliver
the bonds after they are committed to
their care for this purpose. This limita-
ton is estimated by the express COM
pany at 5000 items per day. 1t is a
naturally prudent limit, since on an
average of only $500 in each envelope.
the express company would receive, as
fiduciary agents, 81, 800 900 of the securi-
ties per day, and if it required an aver
age of three days to make deliveries,
there would be a continuous trust of
ST. SOC, 00O-as large an amount per-
haps, as the responsibility of the ex
press company would justify. The facts
thus cited, show that, while subscrib ers
in the sums Of 81, 500 or less, may rest
secure in the certainty that the bonds
will come to them all in due time they
must patiently wait the operation of the
government machinery. 1t is understood
that deliveries on the subscriptions of
$500 and less, for which the money has
been all received will be made before
the larger subscriptions are attended
to. OF these small subscriptions there
are 230, 900 and it is estimated that forty
days will be required for their delivery.
From this it will appear that subscrib-
ers in amounts larger than $500 will not
begin to receive their bonds until after
September l. From that date on the
bonds will be put in the hands of the
larger subscribers quite rapidly, since,
numerically speaking, they aggregate
less than one-third of the number of
small subscribers. In the meantime the
larger subscribers will be officially noti-
fed by the treasury department when
and how payments in addition to the
two per cent deposit will be required,