The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1915-10-17
Allies, Ecrc issue q c5co,Cr, JoS &c,
Ing sojo Al over me Cur
t5 IN email
Lets.
LARGE PART Is TAKEN
Circulars Give names Of >srsss1
Hundred f1s-i-ssA,yas Back Of
Che fssge-rssScn IL
Explained.

receaTeo fa Eeokgk. One circular o.
four paSes IL devoted exclusively 20
Describing the loan and the banks a-E6
individuals that have Deen l2-gs bay
err tbs otter 70 the credits II tae
TWO countries that negotiated Il.
II is called THE joint ana several
obligation n the goTe-u1n eDts % the
United Kingdom Of Great Britain an6
Ireland zad the FTench Re2uoljc." -
Tie bo2d Issue Is dated October 10.
1915, and Is due October IS. 1879
sfth interest payable On April Is and
octcSer IS 81 1Few York City, n
Tnsted States Slosd coin without de-
dsction for any present Or future
British Or French taxss.
Large ErSDot saSoscr55sc.
" The circular states that Z large
xnso8pt u rns bonds asre already bss1
withdraw far investment by = long
G1st Of banks, the names o. whfca ars
given, and that tie unsold balance.
subject 70 prior sale AID change IL
price, has been o-eres FL behz1f O. this
countrywide group Of Institutions and
bankers.
New York City. Masszcagse.ts and
PennsyjFanaa have been the largest
sspyers Q. bonds, me Sew YORK Ctr
ssst being bsaSed by tire name Of J.
p. Morgan and Company. Not o1e
bank fs Iowa sass so far ssbseriGsd.
= The prlce Is set at 81 with tie IT,
tsnest yielding sDcEt 81 per cent
Following are eg.-ae.s from the cir
euisrs telling the reason for the tzsEe
sss me Joan and the security bscI;rg
81:
Purpose ~ Lean.
TIE proeeeds ot the present loan
will be utfltze1 entirely In America
by Great Britain and France.
Exports FROM the Trftef Gtstes 70
Great Britain and France Amounted
70 ss37.s2s.izS during the six months
ended JSne 20. 1918. Tilis period does
soe Include the heavy fail movement
Of tie grain crops, which r5iz year
promises 10 be. both "a quantity and
value, the largest IL the history OF
tie United States The difficulty OF
financing the heavy export trade bal
snce through ordinary channels has
threatened seriously TO c1rtai tbs Tor
elm demand for American products
The essential object Of the loan is,
~ progidinS additional credits In tn.
country. 10 produce greater stability
in the rate Of foreign exchange and By
this means 10 assist the American e.
port trade.
The ultimate security behind a ma
Eonal loan lies ia the taxing power
u the aOYernmsnt. which IN turn f.
limited by the national wealth an
ths financial morality o. the gov
ernef; that Is, the ability and Willing
nsEG Of the peDpIe 10 contribute from
taeif private resources 20 sustain the
nations honor and credit The steady
accumulation u national wealth IN
Great Britain and France, and these
naoona' long recOFf OF gcruouIoug
fidelity N tGeir financial OBLIGATIONS
have RANKED their credit I'm the very
forefront ~ the nations NJ the word
During the last hundred years the
foreign trade n the nations Of the
word hAg grown ~ gich naaYnftude
ana their interests have became 70 IN
teriocked, that the unlmpaired main.
tEDance Of nauCn's credit is recog,
nizGd a. rot only ~ primary import
@hce 70 The nation Itself, but as also
ft&Ey affecting the personal credit Of
IL citizGns IN the world'g ngarkets
The interest charge on this izsuc
equals approximately one-eig4th Of one
come u the ynODln u the two coun.
tries. @s e6t.mated by competent
authorities and amounts 10 only
about IN per cent Of the total rev.
enges II the British government alone
as estimated IA the recently propoged
budget
Great Britain.
tn" estimated wealth of the British
people 10 1914 was about $4,000 900
DyG The pre&cnt Debt, which approx
imabea si0hG0, O1o. 800, including the
entire present issue Of $500 900. 900.
TeDres@nts ics4 than II per cent OF
the estimated present wealth Of the
British Icoyle. whereas the nation al
dsDt IN 1915 amounted 70 30 per cent
u their estimated wealth at that time.
!ntcrGst on this loan Of $500 900 900