Five Mile Beach weekly journal., 1917-06-08

Tne tOrl0,S premier nVeStnhcAh
The law authorizing the issue of the
Liberty Loan Bonds of 1917 invests
these bonds with certain advantages
which no other bonds in the world, be
they national, state, municipal or cor
porate, possess and makes them in
many respects a uniquely desirable In
vestment.
These bonds are not taxable by the
nation, state, county or city; nor will
any war tax subsequently levied by
the United States during this war affect
them. STATE, county and city taxes
often amount to as much as three cents
on the dollar; the exemption from tax
alton of these bonds makes them in such
cases equivalent to a 81 per CEN invest
ment. An investment absolutely safe
bringing in 81 per cent is exceptionally
desirable.
The holders of these Liberty Loan
Bonds are given the right, should the
United States subsequently during this
war issue bonds bearing a higher rate
OF interest, to exchange their Liberty
Loan Bonds at par for similar bonds
bearing the higher rate. Holders of
Liberty Loan Bonds are assured that
their investments will not be i'm paired
in market value by coming in competi-
ton with later issued bonds of the Gov
eminent bearing a higher rate of inter-
est.
There Is yet another quality attach
ing to these bonds which give them a
world wide value and character which no
other bonds in the world possess. and
which will not only create the widest
possible market for their sale when
normal times come again but which
will stabilize their value throughout
the world. This is best expressed by
the New York Times:
zone merit of the Liberty Loan is
the market which it will have. No
other bond will have equal value
throughout the nation, or a like inter-
national value. No other bond can be
bought and sold on a universal quota
ton and ia leading centres in any
amounts without spelling the market.
There will always be bids and offers
for the Liberty Loan, and they may be
cashed or bought for cash with the
greatest ease. The Liberty Loan will
be related to the money market more
closely than other bonds, and, further
more. will be related to the gold mar
kef, as a consequence of having an in
ternational market.
Government bonds are now being
exchanged so generally and in such
sums that there is a prospect of real
ization of the idle dream of the past
that a substitute could be found for
international shipments of gold on the
balance of merchandise exchanges. r :
is easier and safer to ship securities
than specie, and the International re-
istions are nov becoming SO intimate
that bonds In safe deposit may be suf-
icient guarantee of credit exchanges
without shifting even securities from
one side of the ocean to the other. The
Federal Reserve Bank now balances
credits by telegraph orders on a gold
fund at Washington, without shifting
the gold. 1t is not difficult to believe
that the relations between the Federal
Reserve Bank and the Bank of England
may yet justify the control of inter-
national exchangesi in the same manner,
under the safeguard of an exchange of
securities as good as gold.
These uses give a value to the Liberty
Loan which can be shared with no
other bonds. The modest holder of a
few hundreds or thousands of the
worlds premier security may consider
that such uses are nothing to him.
That is a mistake. He may not want
the loan for those purposes, but the
fact that the loan has such uses adds
to its value in the hands of even the
smallest holders. The Liberty Loan
is a national utility, whoever owns it,
and its utility increases with the uni
versatility of its ownership" Order a
bond at the Marine National Bank