St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1917-05-30


duced A. B. Moves, of st. Johnsbury.
Mr.. N0yes dwelt for the most part
on the bankers view of the situation.
He claimed that it would be a simple
matter from the banks of the country
to subscribe the entire amount asked
by the government, but showed why
this method was impossible. The banks
need their floating capital where they
can put their hands on it for the va
rious loans which made daily to carry
on the industries of the country. Mr..
Moves read a resolution which was
passed at a meeting yesterday after
noon of representatives of all the
banks of Caledonia County, for the
purpose of aiding the people to pur-
chase the bonds. The text of their res
olution follows:
1.-The Banks of Caledonia County
realizing the great financial need OF
our Government, and to encourage eV-
cry person to contribute to that need
agree to furnish funds under the fol-
lowing liberal arrangement, to such
persons as may desire to buy bonds in
amounts from $50. to $780,, the Banks
holding the bonds as collateral to the
loans. -st
THE purchaser may give his note
for the amount of purchase on time
not exceeding one year, and shall pay
from month to month at least one
tenth of the principal sum, and inter-
est shall be charged at the rate of five
per cent and allowed at the same rate
on all endorsements of ten per cent or
more of principal sum, the agreement
to terminate at the end of twelve
months by the payment of the note and
delivery of the bond
Mr.. Moves expressed the opinion
that he did not think it wise for the
people to take their money out of the
banks, for the reason that the banks
need their capital more than ever be-
fore. Frank H. Brooks was next in
troduced.
He began by advocating that the slo-
gan Every Householder Bondhold-
err should be added to eff you don't
come across the Germans WILL" St
Johnsbury's famous slogan. Mr.
Brooks pointed out that if it were not
for the English navy our own coasts
would be invaded by the enemy. And
for this reason, he said. we sh0uld buy
the Liberty bonds ITO save our Hides >
Mr. Brooks told that the result, if we
lose the war, would be a terrible in
demnity, that the people would have
to pay, and pointed out that it were
much better to furnish the govern
ment money by subscription at this
time than to pay it to the enemy Ia
ter.
The speaker told how other coun-
tries had oversubscribed the enormous
loans asked of them, and gave pic
ture of how the Kaiser would chuckle
if this country was not able to raise
a comparatively small amount of mon
ey by voluntary subscription. The
amount of money was enormous Mr.
Brooks continued, but when compared
to what other nations had done in cir
cumstances not SO good as ours. 1t die
not seem so great. Mr.. Brooks plead
ed that the money be Forthcoming
quickly, as it was absolutely necessary
at this time, adding that Money vii
deal the hardest blow"
James Cosgrove next took the floor
He opened his talk with several quips
that put the house in a good humor
and imm ediately got down to business
Mr.. COSSrOVe SAID tnaC the cOHuIIIoiif
touched a higher instinct than gain
or profit, and that the money must
come quickly. The United States
must win!" he cried. This statement
brought applause from the audience
The speaker called attention to the
empty seats in the hall, and gave as
the reason that the people were not
as yet awake to the part that the coun-
try was at war. He said that he, who
had come from another country. could
better appreciate the benefits of being
United States citizen.
we must show the world that we
stand one and united in this thing, .
Mr.. Cosgrove added, land this can be
done by oversubscribing the loan" He
pointed out that other countries hao
oversubscribed larger loans. and ex-
pressed the opinion that we in Ameri-
ca should do the same. -
Chairman Ide then took the hOol
and announced that a house to house
canvass would be made saying al
houses will be canvassed, so be ready
He requested the people to treat the
canvassers as citizens who are per
forming a patriotic duty.
The meeting was closed by the sing
ing of two verses Of America" in
which all joined. I