Arizona republican., 1917-06-03
Profit and Patriotism

After summarizing the many excellent and con- polling reasons" that have been offered for buying Liberty Bonds, Theodore H. Price in the current Outlook offers another which must appeal still more strongly very large class of American citizens and in to all American. We have been told that purchase the bonds the patriotic thing do that the investment absolutely safe; that the bonds convenient that they exempt from all except the inheritance tax that they payable in gold; that they the obligations of the richest nation the world that threefifths of the present issue will be secured by the obligations of the European nations to which s3o 100000 of the s5oOo Oo00OO will be loaned. Then were told that those who buy the bonds will help in the
 There is, however says Mir. Price, another subscribing that has been strongly stressed as might That is suggested by the fact every United bonds since 1861 has been salable before it's maturity at premium profit the price Just why" says MT Price greater effort has been made to call attention the profit purchase Of the bonds offered will probably yield is not clear. Perhaps it may have been overlooked there may been feeling that appeal to patriotism should not be coupled with suggestion of financial gain"
 Here MT. Price diverges from the main subject to explain that such sentiment though natural is logi cal; that patriotism is something more than "subi- mated emotion instinct that implies only pride and sacrifice" Patriotism involves willingness to make sacrifices willingness die for one's gov but this willingness Is unconscious affir- nation of the belief that the government is worth SUD- porting. Patriotism, he says, is an expression of intelligent self interest. implies allegiance to gov ernment and not locality country. Patriotism which supports bad government which promises nothing for the citizen his children is not desirable The love of the land, of locality is only instinct which animals possess; have been known suffer from home-sickness
 T have felt impeed thus,' continues MT. Price to justify appeal self interest in behalf of the Liberty Loan because previous article of mine Patriotism-A Higher Self Interest," criticized tending to idespritualize of the noblest qualities that possess" Therefore he proceeds say that patriotism and profit not incompatible provided patriotism is of the intelligent kind that selects good government the object of it's devotion
 He then the security of government bonds and the prompttude with which the interest is paid them reason for buying them. There is no why should hesitate call attention to the probability that it be possible to sell them at ten cent the issue price within three years less in which case they would pay per cent per annum instead of 3h per Enormous profits were made during the civil by persistent investors in United States securities. That persistence an expression of intelligent patriotism it expression of con- fidence in the government a belief that it worth supporting.
 The premium on United States bonds during the period would have been higher but for the lack of patriotism and lack of faith in government, of many of citizens who their capital England for investment, thereby increasing the premium British consols Now foreign investors likely be attracted to the securities of this government.
 Says Mir Price: The confident expectation that the bonds offered at par will be worth a substantial