The Washington herald., 1917-06-16
NATION HITS KAISER
CONTINUED FROM PAGE oNn

was well known in advance that New
York would do the same.
While the nation Is congratulating
itself on the wonderful answer given
to the request for 5000, ,000, 600, the
largest initial loan ever attempted by
any country for purposes of war. II ID
well to remember Mr.. McAdoo's words
at the time the loan was announced.
He said at that time that while he
hoped for an oVersubscription, there
would be no over allotment. One thing.
though, is certain. The men who
bought $50 and 500 bonds win get
theirs FIRST. The terms of the loan
expressly set forth that the Secre-
tary reserved the right to reject any
or part of any application made for
bonds. Now the question arises which
OF the huge individual and corporation
subscriptions he will shave down.
There was something Of the atmo-
sphere of election day In the Secre-
tary's office during the early hours
of the afternoon. Telegram after tele-
gram was received, all presumably
with tidings of the most encouraging
nature. Mr.. McAdoo did not reveal
but shortly sftsrward, as the wires
buzzed more vigorously, he issued q
statement, as follows:
The liberty loan has been oversub-
scribed. 1t is impossible to state the
amount of oversubscription at this mo-
ment, but the exact figures will be
given out as rapidly as they are re-
ceived at the Treasury Department.
The success of the loan IL a genu-
Inc triumph for democracy. It Is the
unmlstakable expression OF Americas .
determination to carry this war for
the protection of American rights and
the re-establishment Of peace and lib
erty throughout the world to a swift
and successful conclusion.
Il am deeply grateful to the bank
ers. the business men, the women Of
America, the patriotic organizations.
and the people generally. without
whose cordial cooperation and enthu-
siastic support the victory could not
have been won.
1T has been an inspiring campaign
and it has had a glorious finish"
Reads More Returns.
Then the Secretary devoted himself
to reading more returns as they came
in front the various Federal reserve
districts, and made happier. though
still declining to give out any definite
figures or to make any predictions,
he sent the following message to all
Federal reserve Banks:
Il desire TO express my deep appre-
citation of the efficient and patriotic
service you have rendered in connec-
ton with the liberty loan. the success
OF WHICH mas Dten 81 slIlhinB anu
pleasing to the country. Will you not
convey to the liberty loan commit
tees of your district, and to all the
other organizations which have CO.
operated with you in this great liberty
loan enterprise, the assurance of my
warm appreciation as well as my cor
dial thanks.
will you not also urge these COM
mittees to preserve their organizations
in order that they may be prepared
to render signal services of the same
character to their government when
it is called upon again to seek an ad-
ditionaI credit. 1t is Of the utmost
Importance that the splendid ma
chinery now perfected shall be avail
able when needed"
The first definite figures Of the day
were those reported from Washing
ton.
The Navy. or at any rate that part
Of It represented in Warrington, did
its share nobly. Subscriptions from
the naval establishment and from the
Navy Department amounted at noon
to 8, ,Se3. 5SS, the number Of applicants
being 1880. In the next two hours
there was an application for $4,000
more, but the dead line had been
passed.