Omaha daily bee., 1917-06-05
WAR PURCHASES
Bring PROSPERITY
M'ADOO DECLARES
Secretary Of Treasury Tells
New York Audience Coun-
try to Profit From SPEND
ing of Billions.

New York, June 4,-Ten billion dol
lars to be spent this year by the
United States and the allied govern
ments for the products of American
farms, mines and factories, Secretary
McAdoo declared here tonight, will
bring to the country the greatest pros
perity in its history.
Some people profess apprehension
about the future of business" said
Mr.. McAdoo. "Why, gentlemen, pros
perity in the next twelve months will
be greater than it ever has been in
our history. You cannot prevent it
If you try. The only thing that could
stop prosperity would be the refusal
of the people TO support the reason
able measures of taxation that are
needed and TO buy the bonds OF the
government"
The secretary addressed great
mass meeting in Carnegie hall in be-
half of the Liberty loan, which, he
warns, would succeed as it must sue
I ceed only if every one did his duty.
He appealed TO those who cannot fight
on the battle front to supply the
means that will enable the govern
ment to provide for the soldiers who
go to the front.
Loan Is Privilege.
1--WE have offered this great Lib
erty loan" he said. What does it
mean? 1t means that your govern
ment offers you privilege; it asks
you men and women not to give
something 10 your government, but
to buy the best investment on earth,
the safest thing you can possibly pos
sess; something that is safe as cur
rency and yet better than currency
because currency does not bear inter
est, while these bonds do bear inter
est at 81 per cent.
"It asks you TO buy within your
means in order that the government
may be supplied with the money TO
property equip our brave men who
have to go upon the field of battle
to protect your lives, ypur liberty and
Your property. i
millions OF young men. with the
fire of patriotism i'll their hearts, are
going to respond to their country's
cali tomorrow. When they have been
called our duty is to see that they
have everything necessary to make the
most effective soldiers on earth.
II hear some grumbling about taxa
ton. Is it possible that in this rich
country, when bur sons are going to the
front 10 give their lives for us, there
be any qubbling about necessary ar
rangements to take care of them upon
the field OF battle? While we must
not be unfair to property, while we
1 must be serupulously just in the I'M
\position OF taxation and in the treat
fnent of all the economic questions
which gain added Importance during
war time, property must bear its share
Of the buSden.
To Cost Ten Billions.
pIf this war continues another
twelve months it is probable the total
amount of financing that the govern
nent will have to do to cover its own
expenditures and to extend the neees-
sary credits to the allied governments
will amount to Sl0,000,000,000. 1t is
proposed that only Is per cent of this
colossal sum, namely, 81 ,800000,00O
shall be raised by new taxation.
"When one considers the magnitude
Of this task and the probable economic
effects of the sale of $S,200,000,00O of
bonds within twelve months and the
expenditure of the proceeds in the
purchase Of supplies in this country,
Ii does not seem prudent or wise to
provide by new taxation less amount
than $l,S00,000,00O. 49,
"There is always serious danger