New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-22
Squirt to Finish Is Handi-
capped by Exagger-
ated Reports
Total to Date
Is $1,973,00,0 900
Success of Germany's Sew
enth Loan Cited as Ex-
ample to U. S.

WASHINGTON, Oct. 21.-The Liberty
Loan campaign swings into the home
stretch tomorrow with subscriptions Of
only s1,e7S, ,OO0,O 900, or slightly under 40
ner cent Of the hoped for maximum. In
the final squirt to the finish next Satur-
sav. officials said tonight. it carries
handicap, regarded as unnecessary, in
tbe form OF widespread reports that
the totals announced BY the Treasury
Department are actually far below the
totals really subscribed.
This handicap, il is said, is imposed
unwillingly by the loans best friends
Who have come 10 believe. in many in
stances. that the Treasury Department
hss deliberately made the total sub
scriptions appear less "by several hun
drsd million dollars" than the real re-
turns. No such practice, it was en-
phatically asserted tonight, has pre-
vailed.
The totals, Official and estimated, as
announced each night, 1t was asserted,
represent the sum of official and esti-
mated returns sent daily by wire to the
Treasury, and are not altered, juggled
or reduced
Treasury Department Statement
Ever since the latter part of the first
week Of the drive reads the Treasury
DEPARTMENTS statement tonight, al
most three weeks ago, exaggerated re-
porfs o. the total amount Of subscrip-
tions have been published daily in con-
nection with stories that Treasury De-
psrtment figures were bearish to the
extent Of several hundred million dol
lars.
The policy Of the department
throughout the campaign has been to
publish the latest official figures at
hand exactly as returned by the diff
ferent Federal Reserve banks, and to
make public without change estimates
forwarded TO Washington by heads Of
the various district committees.
COMMITTEE chairmen throughout
the country have been asked to base
their estimates on what they know to
be the facts, and, in so far as is known
ct the department, they have done so.
A striking example Of the inaccuracy
Of some reports which lave been sent
broadcast was shown in the case Of
the Minneapolis district, where esti-
mates OF current sales were being pub
Ished daily before the sale started
there.
The situation tonight, therefore
according to the best information that
the department possesses, is that the
sales 10 date are about $1,000 900 600
short of the minimum and $4,000, 00O, 900
short of the maximum quotas set for
the country by Secretary McAdoo at
the outset of the campaign. He insist
ed that $4,000, 100000 in bonds be sold,
and it was his expressed hope that the
$1,000, 100000 mark would be reached.
Striving for Five Billions
Vigorous efforts will be made in
every district between tomorrow morn
ing and next Saturday noon 10 raise
the s5,OOO,OOOOOO total. The $1,000
100000 mark is being lost sight of in
the fight for the higher figure.
"0ne Of the strongest arguments TO
be used in the closing days Of the
campaign will be the figures for the
seventh German war loan, just made
public.
After more than three years Of war
and with a casualty list estimated at
100000 persons, the German people,
exclusive of soldiers, have subscribed
S3,l07 500. 900 TO a loan. Nothing would
give the Kaiser and all other enemies
OF this country more pleasure, il will
be pointed out. than for the people Of
tie United states 10 fail 10 subscribe
greater amount than this to the sec
ond Liberty Loan, when they have had
only one previous loan and virtually
no casualties.
The general outlook for the sale is
good. Only two disturbing elements
~ffN"+ Nt4t opatus VI NtAbdlN IuEdl
Communities Of the Middle West and
South, and overconfdence, bred by un-
founded optimistic reports of sales.
Boom Expected on Liberty Day
Liberty Day, next Wednesday.
doubtless will see food Of subscrip-
tons.. The country will celebrate that
occasion, made national holiday by
President Wilson, as it has not cele-
brated a holiday in many years. Nor
viii all its enthusiasm 20 up in ap-
plsuse and speeches. II will be a sales
day. as well as a day OF oratory and
display. Committees in all the twelve
districts of the country predict that
the sales for that day will outstrip any
other day in the history Of either the
frst or the second loan.
Liberty Day speakers include for
mer President Taft, at Hartford. Conn:
former Nice-President Fairbanks, at
Kansas City, Mo-; Speaker Clark, AT
Oklahoma City; Secretary McAdoo. at
Atlanta; Secretary Baker, at Boston;
Secretary Daniels, at Columbus. Ohio;
Attorney General Gregory, at Philadel-
ph,io, and Secretary Redheld, at Balti-
more. William J. Bryan also will speak