The Detroit times., 1917-09-29
BUY BONDS,
is APPEAL
OF 'ADOO
Secretary Urges Big
OversubscriptiOn of
New Issue

ALLAN " III T. y. 80 Nfhi- ri"
Opening the campaign for The sec
ond Liberty loan OF S3o0000o.0oN
Secretary McAdoc ,oday called
upon the bankers % America 20
fing back the German horde on
the hattlefelds Of finance.
The failure OF a single issue OF
government bonds" McAGoo told The
American Bankers association.
would Dc worse for America than
a disaster npon the field of battle
Americas forthcoming bond issue.
he said Is pitted against CORES
pondinE loan ia Germany Quoting
a Berlin manifesto which boasted
OF a successful subscription cam
paign in the Teuionic empire Nc
Adoo declared
iI,et us meet that challenge BY a
subscription 20 our second Liberty
loan on the 9th day OF October.
nine days after the close OF the ger
man loan. which will make clear 10
the German military cespntlsm that
America marshals not alone her
brave soldiers upon the feid. her IN
vincible navy on the high seas, her
industries turnout the length and
breadth Of the land. but as well her
financial resources. and that she Is
determined TO use them all without
stint and regardless OF sacrifice TO
uindicata- American rights n4-raEed
too frequently by German iniamies
let US answer this challenge by
making clear 20 the world that the
American people. with transcendeut
love OF justice and Of country stand
solidly behind their great president
and support unequivocally the pur-
poses Of this war;
Before June 80. 1918. the United
States will have 90 raise by addi-
tional bond issues. between thirteen
and fourteen billions OF dollars, Nc
Adoo said Approximately i've oil'
lions OF this will go as loans 20 our
Allies.
:. "To raise thirteen 10 fourteen bil.
lions OF dollars on or before the
3Oth OF June, 1915. by the sale OF
bonds in recurring installments
seems 70 some people an impossible
task
1T is a stupendOus undertaking.
but IL is not impossible for America.
II ia not easy. but II can be done.
Our resources are adequate our
will is perfect. our spirit Is indomi-
table, and our success Is certain.
I'VE have only 10 pull together
bankers. lawyers. doctors. manufac-
turers, farmers, wage earners, labor
ers, men and women alike. girl
scouts and boy scouts, and every
other class OF people-and We can
do the job"
The second Liberty loan, said Ne
Adoo. will be more attractive 10 the
"small man" than the first. The
new bonds will bear four per cent
interest and will be exempt from all
taxes except superinc0me, excess
profit and inheritance levies. The
bonds OF the first loan. on the other
hand. were exempt from super-taxes
giving wealthy men, according 70
Secretary McAdco, AN undue ad-
vantage"
This inequality is eliminated in
the new loan, he said
Reasserting Americas reasons for
entering the world conflict. the sec.
rotary declared
ct has been repeatedly stated
that America entered this war 10
make liberty and democracy secure
ihruout the world While that IS
true. It must always be remembered
that America entered the war for
more immediate reason.
Noble and idealistic as is her
+. championship OF universal democ-
racy, she entered this war. primarily
because OF the persistent insults ana
aggressions Of Germany the wanton
disregard OF American rights within
our own borders as well as upon the
high seas, the contempiuous viola
tion OF international law and the
ruthless destruction OF American life
and property
Pro-German propaganda IN this
country was scathingly denounced
by McAdoo.
1T Is well for the American peo-
pie TO realize" he said. 'the hypoc-
risy and disloyalty OF all these ef-
forts and 10 determine 10 stamp
them out relentlessly and remorse-
lessly, because the interests of the
nation must al no time be impcriled
more by the traitors within our
walls than by the enemy without"
Up Against Il.