New-York tribune., 1917-07-30
Paying Dollar Week for War
Subscriptions Made Under Partial Payment Plan Played
Important Part in Success of Liberty Loan
How System Could Be Improved

terest. There is great diversity OF
opinion among them and many advo'
Gates of a higher rate of interest, but
the consensus of opinion among the
small savings bank people seems to be
that a rate of interest allowed on gov
ernment bords higher or as high as
the average rate of interest allowed on
savings bank deposits would result IN
great disturbance in the investment
markets and result also in that dis
turbance IN general financial conditions
which we are all anxious to avoid.
Among large employers of labor al
over the country there is a preponder'
ance Of opinion that while employees
were enthusiast: there was a general
inclination to purchase on the partial
payment plan the smallest denomina'
ton which was available.
"Thus, if a s25 bond had been avail
able. instead of a $50 bond, there would
have been hundreds of thousands OF
people who would have elected to pay
40 cents per week out of their weekly
pay envelopes instead of dollar.
"The scale of wages which prevails
in this country and the wide margin
for intensive investment cultivation
which is made clear by the returns
from the partial payment canvass con-
Quoted seem to prove conclusively that
what is needed in the United States Is
not a lowering of the standard OF par
ticipation to a point where any one can
do something without sacrificing any
thing but raising of the spirit of the
people so that they will make the sacrI-
fees which nearly all can make in the
saving of 81 weekly"
Labor Subscribes Willingly
In addition to opening the way to
such suggestions from heads OF cor
porations as they cared to put forward
the investigation resulted in specific
answers to more than dozen ques-
tions. Among the subjects treated was
the attitude of labor toward the propo-
sition of subscribing part of wages
and salaries for bonds to be Kept in the
custody of employers during the period
put forward. 1t was thought by num-
Der of students of labor conditions that
the unions and the union spirit might
oppose the reposing Of funds in the
care of the employer.
"If there was any such spirit before
the war, it is apparent from the re-
turns that-it was entirely lost to view
in the general desire on the part OF
Americans to further the cause of the
United States" said Mr.. Muir. among
the thousand-odd corporations with
which ! was in touch there was no:
one Of any Importance which reported
any feeling of distrust on the part OF
employees such as had been anticipated
in some quarters. | think this consti-
tutes a splendid tribute TO the ability
of labor and capital in this country to
get together in spirit of public SER
vice"
Some of the Individual viewpoints
reported by the heads of the big indus
trial and manufacturing plants are OF
general interest, and the suggestions
which have been put forward are now
receiving the consideration of Secre-
tary McAdoo in Washington.
The E /. du Pont de Nemours Com
pany, of Wilmington, Del, did not get
as early a start on partial payment
activity as the Bethlehem Steel Cor
poration, but made a good showing
considering the large number of for
eign laborers who are in the employ
of this company. Mr.. T. s. du Pont,
president of the company, is strongly
of the opinion that bonds of extremely
small denomination should be avoided
in future loans. In commenting on
the participation of the employees of
mis- company, he estimates that 100
per cent better showing can be antici-
pated in the case of the next aotation,
provided a proper campaign is worked
out in advance, with plenty Of time to
Put it into effect.
Many Foreign Workers Buy Bonds
Out of total of $4,000 employees of
the Crucible Steel Company of Amer
lea, 6,495 subscribed for Liberty Loan
bonds on a basis of weekly or monthly
payments. "The majority of these sub
scribers were foreigners" was the
statement made by the president Of