The Detroit times., 1917-03-29
tcssyytsAt. NAT. ~ rAs U.fsss rrs--l
(Cesy ris stsd "a the Dep~rt@sns 81
AErtsultars. Ottawa csssAAl.
ny LOWELL

1
AxrtguIturs. Ottawa csssaAl.
BY LOWELL hELLETr.
(Sssa oorrespoHSsnf Unissd Press.
LONDON. March "a Boa
Law. chaDcellor % the exchequsT
hss given the United Prers the rec
ipe foe raising i've billion dollsrs--
under certain given Circumstances
only one ingredient is necessary. h'
said. In effect. and that r. patriot
.srn. bit II IL well 10 have = sttrrec
BY German tIightfulnszs,
The syncfroniEatjon Of German
frightftEiness he said. made the
success % the Victory War Loan
certain
Just ar u ppe liI attacks on Ion
don started the hrst great rush 20
lhe coiors, the herman promise OF
l,pdsrsea friEhtiuluess accumulated
the greatest rush 70 The DocketbOok
rny country ever saw So IN giving
the people ~ Great Britain most OF
the credit for their great financial
effort. the chancellor insists hat
some credit be allotted 20 the pre-
mulgaiors Of the frightfalne - cam
palgn.
Asked Why he had Confidently IN
GertAksn 20 raise The desired money
with a prom se OF = httle more Than
i've per cent intereFt. whom Ion.
6on's greatest enancfers had de-
clared Il would be a~oessary 70 pa
per cent. he said
The bankers. - was nEtUrA
looked a. = as a financial problem
Z didn't looked II Il AZ nEhting
Sroblem. a war problem 7 ccntid
cred what ,he people would 90 As =
matter Of patriotism. not 20 o ma
ter Of finance once they were made
e. see the fighting possibilities or
the money We asked I vas sure
they would not look tSiee NJ the
question Of interest Events proved
xhat 20 b. the case =
He could have added ehat the AFT
more han S9eo0.eos a year
There were good reasons for not
allowing the interest rate 20 eT-
coed 5 PEI cent" he continued.
Thru The necessity ~ keeping up
cur exchange. the value Of all mon
ey on the London market has l0nG
been higher than Il overwiss would
have been Exchequer bonds bear
Ing per cent and treasury niIls AZ
- were Issued NJ 10 the very day
before the .ssue % the loan II was
because 81 thss high level - money
that many financial men most com
p~tsnf to Jucse warned me that the
lean could not saceeed NJ less than
per cent
n seemed % me. n chancellor
% the exehequer, that To stereotype
British credit At a high figure like
SIX per cent would be a serious mis-
fortune. Il woulA be- bettar even
90 risk a comparative failure % the
loan. Az a matter OF Fart. however.
really did not anticipate a failure
In any degree. was Banking sa
the peOpie Of the country
And in my belief the Sueeeas OF
me loan should not be measured In
the amount raised. bat IN the mum
Ter o. persons who participated
Eight million people have a part IN
this loan"
Addressing Ave meetings IN vxri-
Gus parts Of the country, be said, be
vas sstoaisned - the enthusiasts
shown.
7 never had seen anything NIKE n.
Dot az the most enthusiastic party
meetings. he declared This spirit
az the people had the greatest effect
on people Of means The spontans-
ity with which he poor people gave
their little would have made II i'm
possible fog the wealthy 20 withhold
the needed bsg coutri buttons. even
n they had been 40 minded
A search thru London Newspaper
"morgues" had revealed that his
oiographers unanimously agreed
that Law never had coined an cpl
gram Yet be was the author 81
these
Arr you going 70 Civ, your sons
End not yoHr money!
VIVA, NJ Wilson il longing for.
We are hgaung for
TT is impossible Tor German "a,
tsre to understands human nature
All In this loan campaign
How ABBOTT H.. he was aSked
Well. perhaps the war has chang
ed me. 7 sometimes think II has
changed al England
Despite he naturally high Import
ancs which be attaches 20 the anAn.
ciai side OF the war. the chancerlox
Is not convinced that Il necessarily
Is the controlling factor
The Allies. I, goes without say.
ms. have greater financial resources
than the Central PowsrY- ha oh.