Macon beacon., 1917-10-19

great value not only to the lndl-
vidual bondholders but to the fl.
nancial and trade conditions of
the whole section. If times of
great prosperity come, the pos
session in the South of a large
amount of the very highest grade
security will give steadiness
and stability and solidity to its
financial condition worth much
to its welfare. This worth will
not be material only.
am writing as an American
citizen and as a Mississippi citi-
zen and farmer, and not as a
financial expert, and | believe
that a wide distribution among
the people of the cotton States of
such long-term and absolutely
sound investments as the Liberty
Loan bonds will exert a conser-
vative influence in business cir
cles and among individuals that
will be worth much to the coun-
try.
| have sometimes thought that
the wealth of the South is in a
way too much localized; that, f.
nancially. as a people we have
kept too much within ourselves
and our section. The addition to
our possessions of a great amount
of Liberty Loan bonds will to a
large extent give a new and
much needed element to our fnan-
cial resources. Bankers and peo-
pie who have to look carefully af-
Ter such things always see to it
that part of their resources are
absolutely stable and safe and
that another part is liquid. readi-
ly convertible into money. An
observance of the same principle
is good for a nation and a section,
and the Liberty Loan bonds will
give to the South new element
of financial resources at once per.
manent, liquid, sound, and stable,
and in no wise dependent on crop
conditions or other local condi-
tions.
We are not the most economi-
cal people in the world, and under
the harder conditions of modern
business and social life economy
and thrift are more sternly de-
manded. 1t is believed that many
Of us would part with greater re-
luctance with Government bonds
than with investments of other
kinds, and that the possession of |
Liberty Loan bonds will encour-
age thrift and economy and saw
ing among US.
This war. which is being f.
nanced with the proceeds of these
bonds, is fought to, among other
things, vindicate and establish
American rights on the high seas
which Germany sought to de-
stroy by the illegal creation of a
war zone" and by the murder
of American citizens and the
sinking of American ships on the
highways of the ocean. What
yieldingto to the impudent demands
of Germany would mean finan-
cially to the South is realized
when it is remembered that we
shipped to the enemies of Ger
many-Great Britain, France,
Italy, and Russian 1916, cotton
and cottonseed and cotton goods,
to the value of 1924, ,250,000, be-
sides many other agricultural
products and manufactures of
the South. Of raw cotton alone
we shipped 4,500,000 bales; COM
pute their value at present prices.
The South's welfare is vitality
concerned in the successful issue
of this war with Germany. Be-
sides the patriotic nature of the
investment and besides the fnan-
cial merits of the bonds there is
great reason for the South's lib
orally supporting the Liberty |
Loan.
1t is not amiss in this connec-
tion to mention other uses to
which the proceeds of the Liberty |
Loan are to be devoted toIthe |
upholding, the enforcing, the
maintaining of those great prin-
clples which the South has be-
lieved in and fought for and is
willing to fight for now, loyalty |
and willingly to the end despite
some evil indicia to the contrary. |
Some of the proceeds are to be
used in building merchant ships
which after the war, whether the
ownership be retained by the
Government or they be trans
ferred to private ownership, will
be used to bear our cotton and |
other products to foreign ports
and render US Independent of the
dictation of foreign shipowners.
Tho v,oo,o,y Sc ba;nor ,,cod ~ ,o,,t