New Britain herald., 1917-05-30
LIBERTY L0AN' E
 SOLID INVESTMENT
Thrift, As We'll As Patriotism,
 Should Inspire Public

There are two reasons why there should be . Liberty Bond in every
 home. Either of them offers . sum- cient impulse for the investment. The reasons are, first, Patriotism, and, second. Thrift.
 Patriotism is the expression. of every individuals obligation to the country which protects him and gives him the opportunity to develop his abilities and gain the reward of his efforts.
 Patriotism often finds ebullient and even hysterical expression. but re- duced to real terms it is a matter of the obligation of each man and woman to contribute his or her share for the common good in return for the advantages gained from living in we'll ordered society.
 This obligation naturally extends to contributing for the common defense. The contribution may be an outright gift under general assessment worked out on some presumably equitable basis. Such gifts take the form Of taxes and voluntary contribu- ttons to numerous charities and war organizations. The other obligation is to lend money to the government as an ordinary business matter.
 Lending money under such circum- stances. considered in its relation to individuals, is a practical application of the thr1ft idea. It is as much a saving as n1oney deposited in . sav- ings bank. 1t draws interest at three and one-half per cent; it is safe in- vestment If the government Is stable. If the government Is not stable then no investment is safe and property rights as we'll as property values will vanish. as personal safety and the right to the pursuit of happiness must disappear also. There Is no better in- vestment than government bonds. In- vestment in them is the duty of those who cannot enter the army or the navy and h tho acharge of a similar obligation. aithough it is not regarded as heroic.
 To secure two billions the govern ment must receive an average sub- scrition Of $1,oO0 from each of two million persons. But the average will be much below that. If there are less than i've million subscribers to the first bond issue. Twill be failure as a test of patriotism.
 But if five million persons subscribe the average of the subscriptions will be $400. It is obvious. therefore. that good many tltousands of people must buy the bonds in the small de- nomination of $50<Nnd $100.
 The small arnoum9 should come out .of current savin Fl the loan is to attain the great sfiG893s Past savings, evidenced by credit accounts in say ings banks, should not be used only to a limited extent or, preferably. not at all. The funds of savings banks in banking parlance, are not liquid. They are in the form of various kinds and so compose . large part of the fixed capital of the country. ENten- sive demands on the savings banks would force the Aquidattpn of these securitfes and so dislocate the bond market and, of course, the money market. The loan Is, therefore, to De subscribed for out of current and future savings.
 IL is more than likeIy that business vill he very good if the loan Is ponu1arly subscribed. The factories and mills will be busy on all sorts of orders from the government There is a shortage of all kinds Of supplies Labor will be freely employeo anu the demand for it Is likely to be only partly satisfied. The people who should subscribe to the loan will. therefore. have the funds with which to meet thu payments. But 1t Is a great deal of money that fs wanted. It is $20 for every man, woman ana child in the United states. Tnat means $10O for each family. Ana that means that hundreds of families who will respond to the dennand will have to add some economy 90Afnat now practised. They will not haxe to nut a new economy into operation Tor the loss that would attend the making of g gift. They will have to put 2 new economy into operation for the gain I will will attend the saving of the amount subscribed to the bond issue. | They will have the security. They
 win receive the interest on 1t regular
 1y. AAnd the country will be better on because of the thrift of its people.
 It is the increase in the saye<gs or
 the people that is going to g >iy the
 money with which to fight ~I a suc-
 cessful conclusion the greatest or all wars.
 Z1oNIsTs, RALLY SUCCESSFUL. A report was issued last evening kAI