The commonwealth. (Scotland Neck, N.C.) 1896-1929, 1917-03-30
How England
Raised F! Big Loan
Patriotism The Key Note---InteIo---->ttu'
Small Figure
poNAR LAW, CHANCELLOR, TELLS STORY
fBy Lowell Me1lett)
d Press Staff Correspon

limited Press Staff Correspondent
1oNnoN March 3o-A Law chancellor OF the ex-
~ has Given the Press the receipt Tor raising nve o
@ dolars-under circumstances Only one an
m he said in effect that is patrosm-bu It Is well 70
have it stirred by German frlghtuiness'
.erbe svnchronzaton Of German f1ghtulness' he 'oi
ade the success Of victory war loan certain.
Inst as Zeppelin attacks London started the hrst great rush
10 the colors German promise OF unoersea ie O.
a+es+ ruh to the country ever saw oo
in giving the people Of Great Britain most OF the e -
financial effort the chancellor insists that some cro'' DC "
+lo nromulgators Of the frightfulness campaign.
Asked why confidently undertaken TO raise Tue ue
with nromse of little five cent interest "hen
dons greatest had declared 1t would DE necessary
pay per cent he said:
he bankers as natural looked at it as financial pro
m war problem considered the people would do as mat
ter Of patriotism matter Of finances once they were maui
to see the fighting possibilities Of the money we akea was
thew would not the question OF vehts
ed that to be the case 'zss - =ss1
= m ,d have added the difference interest saved the -
pire $50,00o00o year.
Thee were good not allowing the interest @
. d fv nor cent he said Through the necessity for keep
inc up our exchanges value of all money on the looo
has long higher than otherwise would nave oeen
bonds bearing per and treasury bills at o72 were
to th v dav Of the issue owing to this hlgh
level of money financial most competent 70
warned me that the succeed less than per
M seemed to me- Of the exchequer that to stef
ne British credit at high like cent would De Sc
ou misfortune would be better to risk
ure Of the loan AS fact however did not really anti
cpa degree was banking on the people o. ue
country.
belief of the loan should not be meas
number OF who partci
pated in it. Eight million have part IN this loan
Addressing big meetings parts OF the country
he said he was asonished al the enthusiasm shown
II never had seen anything like it, not at the most
he This spirit OF the people hao I'll
greatest effect on people The spontume1y with Wnen t
it impossible Tor the wealthy
withhold the big contributions they had been SO mind
London newspaper morgues hao reveae'
thals bographers unanimously agreed that Law hau o
0r0ft
to and money: what Nli. Wso - s
ing for fighting for.
financial side Of the war; chancellor not convinced tnat
necessarily the controlling factor
Allies goes without saying, have greater nnaclal $
he observed But as long DIS
fight Germany resources a
otherwise practically confined within her own oorae
evidence has lost likely TO lose soon e
with her people Her other may give way
support herself alone put even M
hi great productivity. Turkey ana Dusaiia'
| Course being supported by the other two
solely question of staying poWer-hhanci
and staying allies victory certain we a'
i the resources
HAS America possible entry been considered
i he was
but province Of the English Governme
discuss possible action We have steadily refram
nom doing question Of staying power
olous American could make all the difference IN
i N1ld.n
81