The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1917-05-30
DECLARES LOAN Is
DEMOCRACY'SP PROP
Charles S. Hamlin Asks Mass
Meeting for Its Support.
1000 BUSINESS MEN MEET
Federal Reserve Board Member
Says 1t Prevents Panic.
1000 BUSINESS men MEET

Declaring that the future Of demo-
eracy depends upon the successful
fiotation of the Liberty loan and that
America will have to face German
autocracy alone IL Britain and France
are defeated, Charles s. Hamlin, OF
the Federal Reserve Board, made
stirring appeal for unstinted support
of the Liberty bonds before an aud
fence of more than 1000 prominent
business men of Washington last
night at the Central High School
Bankers, brokers, merchants, and
professional and business men repre-
senting practically every branch OF
activity in Washington, as well as a
large number Of women, thronged the
big assembly hall, and pledged their
support Of the loan by enthusiastic
applause.
Mr.. Hamlin referred to the excellent
work the Federal Reserve system lie
doing in connection with the fiotation
Of the big Government loan, and said
that without the reserve banks II
would be almost impossible to finance
the war without great confusion and
Generalization OF business generally.
Pays Tribute to McAdOO.
1--WE are in this war; said Mr.. Ham:
lin, "and we are in It to follow the
President wherever he may lead.
When the history Of this war is writ.
ten, however, it VIII not immortalize
the President alone. The name Of VIII
liam Gibbs McAdoo will go down in
history as the equal of Alexander
Hamilton and as one of the greatest
Secretaries of the Treasury in the his
tory of America"
Assistant Secretary OF the Treas
ury Oscar T Crosby, Carter B. Reane,
director of the postal savings sys-
TEN: Corcoran Thorn, OF the Amer
lean Security and Trust Company;
John Poole, president OF the Federal
National Bank and chairman OF the
Liberty loan committee, and W. T.
Galliher, president OF the American
National Bank, also spoke in behalf Of
the Liberty Iona.
THE buying OF a Liberty bond"
Mr.. Crosby said, ''is not a duty or a
sacrifice. but a privilege. The quick
desire to do more than is expected Of
US is the only true war sacrifice"
One OF the chief arguments for the
fotation Of the Liberty loan among
small investors, the speaker declared
is to avoid the mistakes made by for
eign governments which had permit
ted a powerful banking group to be
come their chief creditors and there.
fore placed this group in a position
to WELD undue power.
Mr.. Reene said that the purchase
Of Liberty bonds is the patriotic duty
=
Practically everybody, he said. car
arrange to buy a bond, and banks
throughout the country stand ready
to assist the wage Garner in becoming
a Liberty bond owner. He made ar
especial appeal to the women, OF
whom there were a number in the
audience, to influence their husbands
and sons - purchase bonds, and said
an unmarried woman should see to II
that she did not marry a "bondIess''
man.
Tells Of Banks Work.
Mr.. Thorn spoke of the work being
done. by the banks of Washington &c
encourage small investors to pur
chase bonds, and said that every
bank in Washington will be open
until 9 o'clock tomorrow and Friday
evenings for the convenience OF thost
wishing to purchase bonds.
W. T. GaIliher spoke of the work
being done by the Liberty Loan com
mittee OF the District, and offered &
resolution OF thanks for its services
The resolution was carried unani
mously.
John Poole. who presided, explain.
ed briefly how the Liberty loan com
mittee was formed at the suggestion
Of the Federal Reserve Bank at Rich.
mond, and reviewed the work accom-
plished to date. He said that Wash
ington people already have subscribed
to more than five million dollars
worth OF the bonds, and expressed
confidence that the ten-million dollar
mark set by the committee for the
District will be reached