Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1898-07-30
THE NEW POPULAR WAR LOAN.
The Preparation, Recording and Distribr.
tion Of tho Bonds a Herculean Task
The Distribution Begun.

WAsmxGToy, July 26.-The follow
ing statement regarding the new bond
issue was made at the treasury depart
mcnt yesterday:
The first shipment OF the new war
bonds was made to-day. They con
sisted OF t,OoJ bonds Of So each, and
900 bonds of $500 each. The public
mind is poorly prepared TO comprehend
the enormous labor and multitudin-
Gus details connected with this
great popular loan. In the first
place, after the rejection and
return OF thousands of sub
scriptons to which no allotment could
be made there remain about 100000
| persons TO whom bonds will be allotted
and forwarded in due course by ex-
press 1t is not a aquestion OF 30000o
names. The name, including state,
county, town aud street nsriffbsr -et'
each subscriber, must be transcribed
and rewritten in various ways at least
ten times. This is equivalent to enter
ing once, thus fully extended, 3,03o,0oo
or more names
The mere clerical work is, however,
but Il part Of the problem. The collec-
tion OF checks anl drafts received as
payment for bonds; the computation OF
interest and preparation OF checks in
in settlement. for same; the engraving
and printing of ten kinds or denomina-
tions OF bonds; the accurate dispos'-
tion OF these in envelopes properly ad-
dresscd-all these are part OF the
problem that must be solved without
error or omission. One simple fact
will impress the mind with the magnl-
tude of the operation: Each envelope
must be sealed with three seals, which
means that 100000 seals in wax must
be imprinted to outgoing bonds.
Another important feature is the lin
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 linn
itation is estimated by the express
company at 900 items per day. Pos
sibly if this Limitation of ability did
not eXist-it is IL naturally pru-
. dent limit, since, on an average
of only 500 in each en-
velope, the express company would
received us fiduciary agents, s2,5)),o))
Of the securities per day AMI If it re-
quired an average OF three days to
> make deliveries, there would be Il con
tinuous trust of $500. 000-as large an
amount, perhaps, AS the responsibility
of the express company would justify
The facts thus cited go to show that
!. while subscribers in the sum OF 81 So
|. or less may rest secure in the Ger
:. tainty that the bonds will com
to them all IN due timo. they must pa
tiently wait the operation of the gov
II ernment machinery. IT is understoo'
= that deliveries on the subscriptions ol
e $500 and less, for which the money ha
n been all received, will be made betor'
A. the large subscriptions are attended tt
OF OF these small subscriptions ther
y, ure 2ao,o0J in number, and it
- estimated that 40 days wi
d be required for their delivery
is From this it will appear that sui
IL scribcrs in amounts larger than So
H. u, will not begin to rs.eive their bon
ld until after September l. From tha
ur date on the bonds will be put in tn
o. hands of the large sub ,crib,rs quit
IA IA rapidly, since, numerically speaking
they aggregate less than one-tiird 9
IL The numb. OF sn I'll subscribers.
n. In the meantime the larger sui
le scribers will be officially notified b
the treasury department when an
a how payments in addition to the tw
IS per cent, deposit will be required, an
L.. before remitting funds they are II
st quested to await Such notice. Niue
" confusion will thereby be avoided.