The Washington herald., 1917-05-04
BOND ORDERS
POURING IN
McAdoo Receives Avalanche
of Subscnptions-$I0O,-
100000 Loaned Italv.

An avalanche of subscriptions to the
Liberty Loan OF 1917, announced only
Wednesday night; the lending Of 800, ,Ooo,-
900 to Italy to strengthen her fight against
Germany; and the linlng-up OF every
bank in the country to aid in making the
big war bond issue a success were the
event which yesterday marked the swift
progress OF financial affairs at Wash
ington.
Because the twelve Federal Reserve
Banks are receiving many subscriptions
in addition to those sent to the Treasury
at Washington. i. was impossible last
night TO estimate the amount OF the first
days offering by the public
Letters and kilograms poured into the
Treasury y<Chroughout the day making an
plication for lots Of war bond s-from sion
10 N,0O0.000. The offers came from both
banks and individuals. Treasury officials
last night were jubilant over the propiu-
Gus start Of the biggest financing enter
prise ever undertaken by the government.
Sends 2T,SI3 TeIeErams.
secretsry McAdoo spent a large part
of the day in lining up the money
agencies of the country to aid actively in
taking subscriptions to the war bonds.
,Ol0
tonal. State. saving and private banks
and trust companies, urging them to aid
in the work by themselves subscribing
and receiving subscriptions and by or
caniZing local committees TO canvass their
communities for funds for the goyetn-
ment. kilograms also were sent to the
twelve Federal Reserve Banks and to all
clearing house associations in the coun-
try
TIA oAor frlI
kilograms that the success of the big
liberty loan will be guaranteed by their
active cooperation. He told the bankers
that the 5000, 600 fixed upon for the
initial offering of the $500, 900, 900 which
has been authorized is absolutely neces-
sary to meet the financial needs OF the
government in the first few months of
the war. No more has been asked of the
people than the Treasury requires. the
Secretary explained.
In his kilograms to the banks the Sec
retary asked that he be given informa-
ton by telegraph Of the amount of bonds
which will be subscribed for by the GUS
toners Of each bank
The second big loan to the allies was
made by Secretary McAdoo YESTERDAY
when 800. 100000 was turned over to the
Italian government Secretary McAdoo
turned over the huge sum to Count
MaoCnl III SSlSIep lne 1tallan ambaSSa-
DOR
The first foreign loan was made to
Great Britain week ago. 1t amounted
to $2co, 100000. The Italian loan will he
converted into long term bonds next
July as the advance made YESTERDAY was
secured by a short term certificate -
Coming in Rapidly.
Subscriptions to the second issue n,
short term Treasury certificates. amount
ing to SoOoooo,OOO, which Secretary Nc
Adoo offered the first of the week. are
coming in rapidly. 1t was from this
source that the money was obtained 10
lend to Italy. An equal amount Will be
advanced to France in the near future
Treasury officials were hard at work
yesterday on final details Of the bond
issue. Maturities are being decided upon.
although 1t is certain now that at les At
some of the bonds will be of.indeteruIn-
ate maturity, like most British and
French bonds.
Secretary McAdoo yesterday appointed
Robert w. Woolley, former director OF
the mint. as director Of publicity for the
liberty loan. MT. Woolley will conduct
a campaign OF Information TO keep this
public posted through the newspapers on
developments.