The Birmingham age-herald., 1917-03-25
Britdin'S Hidden Wealth
 Revealed By Big War Loan
Chancellor of the Exchequer Who Expected and Hoped for S3,OO000O0O0, Gets More Than S3500000000 of New Money and a Lot More to Come-Secret Miionaires and Small Capitalists Dig Up Their
 Hoards to Help Beat the Germans

London, March 1O.-The biggest financial transaction in the history of the world has just been completed by the closing of the great British war loan and the world has learned as never before how great the reserve money power of Britain is. The result of the loan has exceeded all expecta- tions and what is better still, 1t is per- fectly evident that Britain could do it again if she needed the money. There is plenty more where the last lct came from.
 The result of the loan is great personal triumph for Bonar Law, the chancellor of the exchequer When it was decided to issue the great victory loan Bonar Law went down to the city of London, the financial center of the British empire. to seek advice. He told the financial magnates what he want ed and what he expected to get. He wanted minimum of S2,500, 900, 900 and he proposed to offer per cent. The city men laughed at him. "You will get about $1,500, 100000 at per cent" they said. eff you want the loan to be a real success you must off, fer per cent" Bonar Law, however, declared that he thought it would be disgraceful if the British government had to offer 6 per cent on the best security in the world in the middle of a great war. to secure the money needed to carry 1t on, and he stuck to his intention of offering 5 per cenr and no more. The result. as he an- nounced it in the House of Commons, showed how fully his confidence was Justified. T expected $2,500, ,000,0 900 of new money" he said. T hoped for $3, 900, 100000 and I have got at least $3,- 00,000,000 of new money" This min imum is likely to be very largely in- creased for some hundreds of thou sands of applications which arrived just before the closing hour have still to be dealt with and there are many thousands of applications still in the hands of the country banks. It would not be surprising if, when the returns are all in. the new money amounts to something in the neighborhood o1 1000, 900, 900. This includes few hun term treasury notes which otherwise would have to be met within the nex, month or two. and which are, there fore. quite as much new" money from the treasury point of view as the sub scriptions direct from the people. An other most satisfactory feature is thai none of the money Is derived from the banks except in so far as the banks advanced money to their customers tt take up the loan. All the banks re. sources are still available for the last financial push. if another should bt needed.
 Nothing is more impressive in con. nection with this great loan than the
 
 fewer males are requird, because where Ia number of males are in the same per there is less favoritism, consequently greater fertility. Other conditions being equal, safe rule for mating is as fol. lows One male to six or eight females of the Asiatic class; one male to about 10 females of the American or genera purpose class; and one male to 15 females of the Mediterranean class
 It is not enough to hatch the chicks After all, the biggest business is to raise them, which means "brooding" Suc- cess or failure here depends largely on facilities for performing the work When baby is expected everything is ar ranged for it's reception in advance and so it should be with chicks. Next weeks article describes some of the prepara tions