The Palatka news and advertiser., 1917-06-01
PALATKA PATR|0TSBUy
LIBERTY LOAN BONDS
City Banks Cooperate in Re-
ceiving Subscriptions.

i'"'ioiiai wal lodIl, DeCtef known a.
the Liberty Loan Bonds. Now al
three OF these banks have co-operatet
for receiving subscriptions for tn,
bonds from their friends and custom
ers, In fact they will urge custom
ers to subscribe.
1t IS safe to say that the tota
palatka subscriptions will exceed
100000.
Cashier A. S. Willard of the Put
nam National Bank said that wher
asked by the Federal Reserve Bank
as to the probable amount his bank
could dispose of, he replied guaran.
teelng a total sale of $4,000, but
said he: "The Putnam National sub
scrlbed for $4,000 and already We
have applications for $4,000 addition.
al. 1t is impossible to determine the
demand, but l think that we will
quite likely dispose of $4,000 and
possibly $4,000. All the banks of
the city will cooperate in selling
these Liberty Bonds and all have
blanks for applications"
Cashier J. C. McCrocklin of the
State Bank Of Palatka said: I'VE are
going to take from $4,000 to $4,000
in these bonds and we already have
applications for $1,000 additional. OF
course we cannot forsee the demand,
but we shall &C all we can to en-.
courage our friends and customers TO
subscribe"
Mr.. R. F. Adams, president of the
East Florida Savings & Trust Com
pany, in discussing the sale of these
bonds in Palatka, said: eve have
subscribed for $4,000 and have one
outside subscription for $4,000. We
shall encourage our customers to
make application for the bonds and do
all we can to push them in Palatka.
1t is hard to estimate the number of
applications, but they will likely run
to $4,000 or $30,000."
Terms of the Liberty Loan.
The act authorizing the Liberty
Loan Bonds of 1877 was passed April
"a, 1917. 1t provides for the issu-
ance of 5,000,00O,000 of 1-2 per cent
bonds, the interest payable semian-
nuallv on December Is and June Is of
each year. The principal is repayable
on or after the 18th of June, 1882, at
the option of the Government, and if
this option is not exercised the bonds
will run full 80 years and become due
June Is, 1947.
The bonds are exempt both as to
principal and interest from all taxa
tion, national, State, county, or munic-
lpal, except the inheritance tax,
which is really not a tax on the prop
orty, but on the transfer of proper
5y by will or inheritance.
The bonds are to be sold at par;
hat is, dollar for dollar, no premium
md no discount. They are to be sold
oy the Treasurer of the United States
md by all Federal Reserve banks.
But all banks, National and State,
cost offices, and express companies
nave been designated as agents of the
Government to receive applications
or these bonds. 1t is almost as easy
@ purchase one of these bonds as it
s to get a post-office money order.
1t is not necessary to pay cash IN
'ull for bond. One can pay down
YER cent of the purchase price an APP
,lication-that is, 81 for a $50 bond,
2 for 500 bond, etc.-18 per cent
N July 25, 1917; 20 per cent July
70, 1917: 80 per cent August Is, 1917;
md the balance, 80 pcr cent August
5, 1917: and the balance, 30 per cent
august 30, 1917.
War Loans.
Great Britain's estimated wealth is
85, 900 100000; she has made three
'reat loans since the commencement
f the war, aggregating $10,000000,-
co. Her last loan was for $487 70O0,-
90 which was the greatest single
,an ever foated in the history of the
5orld. 1t was taken up in 30 days,
,2S9O00 individuals subscribing to
ne loan. One>person in every II in
abitants of the United Kingdom sub
,ribed to this loan. and the average
was $3.50, though great
lany subscribers took only / pound
r about $5. The great number of
lbscribers to this loan is pointed out
evidence of the patriotism of the
ritish people.
Germany's wealth is estimated at
30 ,OOO,OO0,O0O. Germany has put
it five loans since the commencement
the war, aggregating S11 1,750,000,-
70. In Gcrmany's latest loan
,rson in IS of the population is re-
Vrted to have subscribed, and the av-
age amount taken by each subscri- j
r was $700. a
Taking into consideration these fig a
es, the S5,000,000,000 loan of the N
nited States with an estimated v
ealth of $220,0O0, 100000 and a pop k
alton of over 100,000,000 seems al dl
ost small. With a wealth nearly d
rec times as great as that of Great tt
'itain it is trying to borrow less
an one-half of what Great Britain =.
S borrowed With q population !,
e and one-half times as large as III III
at of Germany our loan is much al
IS than half of the amount that
,rmany has borrowed.
Liberty Loan is less than
e-sixth of the bank deposits in our
untrv. An ordinary borrower does d.
t think he is running himself when a
borrows 40 per cent of the value et
his property. The United States t
borrowing less than per cent of
wealth. C,
President Wilson said: "There is b
It single selfish element in the e.