The Washington herald., 1917-08-03

the war is continued for two years
there will be grave peril lest the sup
ply Of food in New York State be
insufficient.
How rapidly the United States is
matching and even SURPRISING Ger
man efficiency in the production of
arms and munitions of war is proved
by statement made by two of the
foremost rife experts in the world,
one of them being an Englishman and
the other an American. When the
United States entered the war as a
belligerent, there was serious con-
| Germ at Washington about the ability
to supply our soldiers not only with
sufficient number of rifies-a million
at least within a year-but also, with
as good rifles as were made anywhere
! else in the world and better than any
| others, IL that were possible When
the government took over the con-
tracts made by Great Britain with the
Eddystone Company. at Chester, Pa,
the Winchester Arms Company. at
New Haven, Conn, and the Reming-
1 ton Arms Company, at Ilion, N. Y, it
solved the vexatious problem OF Sc
| curing a sufficient number of rifles
within a year. But there was another
!. question and that was whether the
I American modified Enfield rife would
| meet the requirements OF the govern
| ment. Some of the authorities were
| doubtful A few went so far as to
criticise this rife. But yesterday Mr..
Chairman, who has been in charge of
the experimental firing at the Eddy
stone plant, in a brief memorandum to
the Washington authorities, stated that
the new United States rifle OF the
| 1917 pattern is a wonderful shooting
gun. In this opinion he was con-
| firmed by Lieut.. STAFF, one of the
| foremost of the British rifle experts,
| who did not hesitate to say that he
| believed the new United States rifle
| Is the best military rifle in the world.
Thus within a few months so re-
| markable has been the efficiency de-
| velopment in the United States, at
least with respect to munitions, that
| the War Department is able to con-
template not only the ability of the
American munition factories to fur
nish the rifles our army may need
even though il may be as many as
100000 in the next two years, but
also to feel confident that these rifles
are the best manufactured anywhere
In the world.
On Monday Of this week when the
third instalment of payments on the
| first Liberty Loan was made there
came from Washington what seemed
to be a semi-authoritative statement
that late in october, certainly not
later than early November, the Sec
retary of the Treasury. Mr.. McAdoo,
will offer a new loan of 5000, 900. 900
| to the American people. Some of
| those who will aid the Secretary in
floating this loan frankly confessed
that they had no idea what rate Of
interest Secretary McAdoo will nom
mate in the bond. Furthermore, they
are persuaded that the Secretary
himself is still of open mind upon
this important matter. There are
many arguments pro and con offered
when a rate of per. cent Is sug-
gested as the probable figure which
the Secretary will decide upon. Those
who speak in favor of the per cent
rate say that 1t will be found far
more tempting to investors whether
they be persons of wealth or those
who have only small incomes than
81 per cent rate would prove to
be, On the other hand the man.
ayers of savings banks all over the
United States are somewhat appre-
hensive lest a per cent rate might
seriously affect their deposits and in
vestments and thereby disturb the
securities market. Should the Sec
retary fix the rate at per cent then
all Of the first Liberty Loan bonds
would automatically receive that rate,
II presumably being stamped upon
the bonds that the interest Is to be