The sun., 1917-09-30
CITY AIMS TO SET NEW
LIBERTY LOAN FIGURES

W 7 ILL the people Of the United
\A/ states make as tremendous
w response to the new Lib
erty Loan ~ they did to the first
Government issue?
Tho $4,000, 100000 bond sale that
closed on June Is was subscribed to
"a, 3,035, 100000. This represented the
participation Of 100000 persons in
our national population Of 110, 900, ,OO0
VIII tho present loan be as success
ful7 This is the answer: Ut will be
Uecause It must be. The men, women
and children Of this country will have
TO accord the same proportion Of sup
port to the $1,000 ,000, 900 loan that
they gave to the previous fotation.
The result being striven for by the
sponsors Of the loan is at least $4,000
100000. D..
1t may be remembered that Just be-
foue the books closed on the first loan
there reached Berlin through some
surreptitious channel q report that
the sale Of bonds had been a failure.
It was stated the public could not be
induced to subscribe. Tho lie to this
was given on June Is when the over
whelming total was recorded. IS
Now that we have been in the war
six months, that our men are close
to the battlefront in France and our
dtstroyers are securing the seas 1t
mtst be demonstrated to Germany
once more that the heart Of America
Is in the conflict.
Under the terms promulgated by
Secretary McAdoo Of the Treasury
last Thursday the new loan will be
unrestricted after minimum. To the
stated $4,000, 100000 the Government
will accept additions Of 80 per cent.
Of the oversubscription. Thus II the
demand goes to 81. .0o0, ,000, 900 the issue
will be $4,000 ,000, 900. and II the books
show q subscription Of $4,000. .000, 900
bonds will be issued to Tire amount OF
$4,000 ZOO, 900. This IL believed to be
the frst unrestricted bond issue the
United States ever made.
IL our position now more advan-
tageous financially than It was In
June? Where Il the money to come
from? Can the loan be taken up with
out impairment to our banks and other
financial institutions?
Before the fiotation Of the primary
loan the total bank resources OF the
country were $32. .166, 900 900. Remove
81, ,000, ,000, 900 from that and contem-
plate the further subtraction OF 49,
ooo, ,o00,O 900. 1t might appear that
banking conditions in the country
would be sadly crippled by this turn
over to the Government OF one-siNth
of the total resources within period
of six months.
Secondly, ever since the war began
there has been an increase in the cost
of living. Food products have gone
leaping beyond bounds considered ex-
orbitant in ante-bellum days. Rentals
have gone up, the price Of clothing has
been boosted. everything has ascended
in value.
Thirdly, enlistment and the drafting
Of the National Army have taken out of
tho wage earning class close to 1,50O,-
900 men from Q national population OF
11e.oeO. 900.
Looks hopeless, doesn't It? Cheer
up! 1t is not as desperate as 1t ap-
pears, the outcome of the new loan
As a matter OF fact there is less reason
to worry now than there was before
the other loan was put on the market
The prospect even for future loans
and inevitably they will come-nevel
was more roseate.
Here Is fundamental that must not
be lost sight Of: II every person in this
country were able to save twenty-five
cents a day for a year the total woult
be S10.037. .500.0 900. This is too much tc
hope for. Of course. In truth, it would
be impossible for the great majority &c