Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-04-17
Distribute the Burden.

up the impressive sum Of three billions
and a half. Other billions will have to
follow these. Some of it car be secured
by taxation, but a large portion Will
have to come from the sales of bonds.
This war is to safeguard our future.
We shall dc right II we mortgage the
future to help pay for it.
Why not? Ours is the crisis and the
burden. To posterity we W the coun-
try we have received out of the sacri-
fees of our ancestors. We do the
work and pay SO far as we cam, but
those who come after should more cas-
lily pay when We a don our work.
Let US pay as we 60" so far as we can
do SO without overburdening the masses
already hard hit by the disorganization
of trade and Industry. But let US not
in our pride of service rob other gener-
ations Of a share in the honor of lift
ing tho yoke Of autocracy from the
worlds people.
The American people are not educat-
ed to the purchase of bonds as are the
people of other countries. The Guar
anty Trust Company of New York says
that in the United States, not one per-
son in 500 owns a government bond,
while in both France and England, II
persons in every 100 have helped in
dividual!y to finance those countries in
performing their part in the present
war.
Thousands Of persons who never
purchased bonds, who never have been
in touch with financial houses, must be-
come investors in this issue. 1t has an
appeal not only to patriotism. but to
reason and to business sense. The
whole nation must be quickened to a
complete understanding of the spirit
and meaning o. this investment.
Our national income is estimated to
have increased almost SO 1-3 per cent.
IN the last seven years, and nearly III
per cent. in the last II years. Contrast
ed with our enormous income and the
increasingly great volume of foreign
trade, it IS stated that the governments
outstanding Understanding public
debt is less thar. one billion dollars
PE1NCIPAL-only one-fortieth of the
nations present annual income. sur
thermore, the United States possess
one-third of the worlds stock of gold,-
nearly three billion dollars.
While the banking institutions Of
the United States may be confidently
relied upon to take their full share of
This lean, it must be remembered that
these institutions are relied upon by
our great manufacturing and trade en-
terprises, whose activities will probably
ic increased by our entrance into war,
> provide them with credit with which
to carry on their activities. Any reduc-
ton of such credits, nccessitated by too
large a participation in the government
loan. would be a blow to the country's
industries. 1t is evident, therefore. that
the bulk of the loan should be taken by
the public at large, and not by the
lankers.'
The history of the United States
proves a~bundantly that our people do
not hesitate when the life, the integrity,
or the dignity of the nation is at stake.
Cameron Kingsley for the Nationa!
Thrift Bond Corporation gives interest
ing figures:
How will the entrance Of the United
States into the war affect the financial
balance as represented by the savings
deposits of the people?
According to the latest available fig
ures. the Entente Allies make this
showing Of savings bank patrons: