Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-09-28
Floating the Great Bond Issue

Steadily the men administering the government
of the country coming to realize that when the
have product to offer the people, they must presen
the nations business in the same manner that ma
proved successful in the upbuilding of the grea
merchandising enterprises of the United states
This remark is suggested by the moves now beni
made for the second Liberty Loan campaign.
Frank Vanderbilt president of the National Cit.
Bank. gives his undivided attention to assisting Sec
rotary McAdoo in floating this loan. Mr.. Wander
lin brings to the campaign all the experience o
bond merchandising as carried on by one OF the ma
lions greatest combinations of capital. a food 0
bond statesmen will doubtless be sent through TIN
country.
No one doubts that the loan will be foated. Blu
there can be no question that this campaign of bono
craftsmanship would be much more efficient if TIN
field were prepared by preliminary campaign 0
Maid publicity by means of which the people would
be thoroughly informed.
1t is a plain matter of business, present day
modern business.
Big Business for many years thought that it coult
get along without publicity. Later the mistake wal
recognized and Big Business began to systematlcal
" awork' the mediums of publicity for free write
ups and stories in which the influence behind tn
yarn was hidden.
Then came second awakening when Big Busl
ness found that the only way to gain the confidence
Of the citizens of republic was to tell the stor.
straight out ray for it. let everyone know who stoot
sponsor for it-and then repeat the statements IRE
quently so that the people might know the facts
Every man and corporation whose business
amounts to anything comes sooner or later to thu
method of procedure. This is naturally the resul
because the principle on which the action is baset
Is fundamentally sound You must let the people
know what you have, you must convince them O
the value of your product you must tell them VIII,
they should buy and then repeat it again and agar
before you can expect them to be ready purchasers
Average men and women of the United States d.
not save These who do save are not generally &C
ouainted with bonds Many loyal men willing to d.
anything for the country often feel What the biz
6nanciers will take care of the big bond issues
Therefore, the seeming indifference Therefore, thu
need for systematic, educational repetition secur
ed BY carefully planned and systematic publicity.
The entrance Of Mr.. yanderlip into the campaign
recalls that the general publicity Loley of the Ma
fiona City Bank has been the policy OF indirect pub
cty that had to be discarded by the railroads, thu
Telephone companies, the Bethlehem Steel corpora
ton. The plans for the Liberty Loan may include
4 course of action showing readiness to profit BY
the successes of these great nationwide enterprises
and prepare for the future is very well stated in
EDITORIAL published by the Daily Financial America
ii deserves careful reading by the emDloye and thu
Employer 1t follows:
Mr. vanderp's vigorous characterization OF the
American people as lot of economic illiterates
shocked many persons Was it deserved? Let us see;
Some months ago entered upon war which VIII
entail the expenditure by of money in volume larg
err than ever before since man came upon the eartn.
We studied the subject hurriedly. that OF the
first needs was get money from the workers OF the
nation in continuous streams during the war and, 30
deciding put out $4,000 100000 Of the Liberty Loan
with the expressed purpose OF having the wage
earners of the country subscribe for It. There was
great furry Il patriotic effort and, in the end. the
issue was so per cent oversubscribed In the thou
sands OF shops, factories and offices employers took
bonds for their employees which were TO be paid for
n weekly instruments certain percentage of the
workers wage being deducted each week
Now we get from various parts Of the coun-
try of wageearners quitting jobs in order TO get the
money that had been deducted from their pay en-
veopes on account of the bonds
We get word too, that Immediately after the first
hurrah effort in which the patriotism of their men
bonds on their people and have been content to let
the matter rest until the next bond issue
Now we hear from bankers that 1t will be necessary
70 have the next bond issue per cent basis to
.ttract wageearners. Employers who questioned
On the subject say the same thing
the truth Is that neither the bankers nor the en-
,oyers know what they talking about in this
nsction. The bankers may know the investment mar.
IS. s,t thew do not know the workngman. The en-
- nave given evidence of their lack of knowl-
IT, 100 IN the department of human thrift.
ne set down here and now few of the cardinal
nrinciples to be observed II you want wage-earner
to save-not save eou-s o"' O"' e'e'' U0'
anu nn1,t deduct the money from his pay envelope
4 ToEe the money but give to him certificate,
-. or some evidence Of payment 1t would be
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