The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1917-03-29
Unprecedented Enthusiasm al British Mass
Meetings Where 100000 Contrib
ute to Gigantic Victory Loan
WILL YOU GIVE SONS
AND NOT YOUR MONEY
Spontaneous Response Of the Poor to
Call for Money Made Il Impossible for
Rich 10 Withhold Contributions

(By Lowell Mellett, United Press
Staff Correspondent)
London. March GA Bonar Law.
chancellor Of the exchequer, has given
the United Press the recipe for raising
five billion dollars under certain CIV
EN- circumstances. Only one ingredi-
ent is necessary he said, in effect, and
that IS patriot - but it is well to
,haye 1t stirred Wy German frightful-
ness.
"The synchronization ofthe German
frightfulness," he said, made the sue
cess OF the victory war loan certain"
Just as Zeppelin attacks on London
started the first great rush to the col
ors, the German promise Of undersea
frightfulness accentuated the greatest
rush to the pocketbools any country
ever saw. SO in giving the people OF
Great Britain most Of the credit for
their great financial effort, the chan
cellor insists that some credit be al
lotted 80 the promulgators Of the
frightfumess campaign,
Asked why be had confidently UNI
dertaken ID raise the desired money
with promise Of little more than
five per cent interest, when London's
greatest financiers had declared II
would be necessary to pay six per cent
he said
"The bankers, as was natural, looked
at it as financial problem | didn't.
! looked at it as a fighting problem, o
war problem. considered what the
people would do as matter Of pa
triotism, not as a matter Of finance
Once they were made 70 see the fight
ing possibilities Of the money we ask
ed, was sure they would not look
twice at the question OF interest.
Events proved that to be the case"
He could have added that the differ
ence in interest saved the empire more
than $4,000 900 year
There were good reasons for not
allowing the interest rate to exceed \
five per cent he continued. Through
the necessity Of keeping up our ex
changes, the value OF all money on
the London market has long been
higher than 1t otherwise would have
been, Exchequer bonds bearing six
per cent, and treasury bills at ~ we're
issued up to the very day before the
issue Of the loan. 1t was because OF
this high level OF money that many
financial men most competent to judge
warned me that the loan could not sue.
ceed at less than six per cent.
at seemed to me as chancellor OF
the excheccer that to stereotype Brit
ish credit at high figure like siz acr
cent would be serious misfortune. It
would be better even TO risk compar-
ative failure Of the loan, AS matter
OF fact, however really did not an
ticIpate a failure in any degree. ! was
banking on the people Of the country.
And III my belief that success OF the
loan should not be measured in tho
amount raised. but in the number OF
persons who participated. Eight mill
lion people have part In this loan.r
Addressing five big meetings in vas
rious parts Of the country he said, he
was astonished at the enthusiasm
shown.
Il never had seen anything like 1t.
not at the most enthusiastic party
meetings" he declared. "This spirit
Of the people had the greatest effect
On people OF means The spontaneity
with which the poor people gave
their little would have made it impos-
sible for the wealthy to withhold the
needed big contributions, even il they
had been SO minded