Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-06-06


000,000,0oo). This increase alone ex
ceeds the total deposits Of all Of thu
banks, large. and small, in Great Brit
ain and ireland. including severa
banks whose total resources are great.
er than those Of any individual bant
In this country, and also including al
deposits In the Bank Of England.
Financially this nation is fully pre-.
pared to meet successfully any and
every demand which duty. honor and
the fullest protection to the Lives anG
property Of its citizens can impose. II
is ready and able to vindicate before
the world the principles of democracy
No nation ever before possessed the
immense financial strength and power
which are Guns today. We have be-
come the greatest reservoir Of world
credit,
Figures indicate that the production
OF wealth in the United States for the
past two years has been at the rate
Of more than forty billion dollars per
annum. Since the outbreak of the war
in Europe two years and ten months
ago, students OF the situation tell us
that this country has created about
one hundred billion dollars of new
wealth and that the surplus earnings
OF the American people. over and be-
yond their living expenses for this
period have exceeded twenty billion
dollars 100000, o,00O).
Much of this accumulated wealth,
produced by over forty million intelli-
gent workers, has been reinvested in
mills and factories, in the enlargement
and expansion of business enterprises
Of all kinds, and in loans to foreign
countries, while our deposits in banks
have increased billions.
1T Is believed that the investible
earnings. or profits, of the citizens OF
the United States are increasing at
the rate of two billion dollars every
three months, so that if all our people
should invest in the liberty bonds their
entire net increment, or excess of in
come over actual living expenses, for
a three months period and avoid other
investments. this alone would practi-
cally absorb the entire issue of bonds
now being offered.
Our governmental recently placed
about seven hundred million dollars
(s100 900 ,000) of treasury notes at from
to 3A per cent interest, and these
have been taken and paid for without
creating ripple in the money market.
This government placed during the
Civil war three billion dollars of bonds.
That amounted to nearly twice as
much as the total resources of all the
banks in the country al that time, and
was more than Cne-tenth of the esu-
mated wealth of the country then. Our
national wealth is today about ten
times what il was in 1865, and bank
resources are more than twenty times
as great.
While it is desirable and important
that tie commercial banks of the conn
try. those charged with the RESPONSE
bility Of supplying the necessary credit
Cor the business of the nation, should
keep their funds reasonably liquid. our
banks should not underestimate the
peculiar attractiveness and advantages
of the liberty bonds.
These bonds are the direct obliga-
ton of the richest and strongest gov
eminent or earth. and individuals or
corporations purchasing them may do
So in complete reliance that their prin-
cipal is absolutely safe.
1T IS probable that Immediately at
ter the conclusion of peace liberty
bonds will advance materially in the
market. Three per cent United States
bonds Of 1851, which. like the liberty
bonds, can not be used as a basis for
national bank circulation. formerly
sold at 1913 and higher. If the 3ls per
cent liberty bonds should sell within
two years at 107. which price is
equivalent 10 United States 3is of 1861
at 103, the investor in the liberty bonds
would make this Z, per cent premium
in addition to his 81 per cent interest
with absolute protection OF his prin-
cipal.
THE exemption from all taxation,
government, state or municipal. is a
more valuable feature today than ever
before in view of the large increase in
the income tax. Buyers Of these bonds
will avoid a direct tax of as much as
? per cent year or more imposed in
some communities on principal, besides
the income tax.
THE liberty bonds will always be an
acceptable collateral at all banks thru
out the country.
eff any man or woman drawing a
salary or wages or having other in
come. desires to buy liberty bond,
and having only a portion Of the
money available. wishes to pay for the
bond during the ensuing year as his
wages or income permit. he will find
the banks in his immediate locality
generally willing and glad to accom-
modate him, as our banks generally are
evincing a splendid and commendable
patriotism and are working unseifish-
ly for the common good. But ii any
such man or woman in the United
States, desiring to invest in this man
ner in liberty bond. should be re-
fused this accomm odation from his OF
her local bank and will communicate
with this office, the comptroller Of the
currency will give him or her the
names of, banks which will gladly
carry the liberty bonds for such pur-
chaser at favorable interest rate and
give ample time in which to pay fol
them