Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1917-06-08

I dollar to spare for this loan is be-
ing pressed to invest.
II want to say that the men who
are doing this work are serving their
country just as patriotically and just
as ably as though they wore the uni
form of the army. But they must
! not let their organization lapse. They
must hold it together. There will
be other loans, other services, and
the Red Cross to support. War
means the organization of every
branch of civic life. For every
twenty-five men in the army there
must be seventy-fve back of the
fighting lines"
Meeting Follows Dinner
The meeting followed a war
menu" dinner at the Harrisburg
Club, rendered Mr.. Vanderlip by the
Harrisburg Clearing House Associa-
ton, and William Jennings presid-
ed. He presented Mr.. Vanderlip and
afterward Former Congressman
James F. Burke, of Pittsburgh, who
delivered an address sparkling with
epigram and eloquence.
IF this country realized, first, that
there is war; secondly, that we're
in it, and, thirdly, that it costs
money, there would be no trouble
about obtaining subscriptions to the
Liberty Loan" Mr.. Vanderlip said.
America is facing the greatest finan-
cial task ever presented to the ma
ton. 1t is because the country does
not understand these three simple
fundamental propositions that this
loan isn't already oversubscribed."
He described conditions in the va
rious countries opposing Germany
and depicted the chaotic and unset
tied conditions in Russia and the
dangers involved therein with regard
to the interests of this nation.
Nobody can tell what the future
is going to be, politically, in Rus
sia," he said. There might be a
separate Russian peace, though 1
personally do not think there will
be. There is this possibility, how
ever, which would result in the re-
lease of more than a million prison.
ers now in Russia, who would be
available for duty. 1t would also
release the armies of the Central
powers now fighting on the east front
and open up the vast food stores of
Russia to her former foes.
England is getting hungry. Ships
are being sunk faster than they can
be built. The U-boat situation must
be conquered. l don't care how rich
a nation is, she can't fight if she is
SldINilE. 10 you realize WnaI IL
would mean If England were forced
to make peace because she was starv-
ed out, and the English navy taken,
with German invasion of this coun-
try to follow? This country must
wake up to the fact that there is a
war, and that we're in 1t. We're the
greatest hope of civilization and
we've got to win. The weight of the
United States will turn the scale.
Why Germany Wanted War
Did you ever wonder why Ger
many wanted us in this war? +
think it was in order to have
solvent nation when the end came,
IL Germany should be victorious.
That would mean that we'd be asked
to foot the bill. We aren't playing
at war. This is the real thing. This
is the most serious situation the ma
tion ever faced"
This loan" he said, "is one of
the most intelligent investments q
man can make. A higher rate of in
terest might have caused q financial
crisis. Congress and the administra-
tion have already accomplished great
things-the bond issue and the con-
scription law--and we started this
war with the finest declaration of
principles that ever backed q nation
going into n conflict.
"The bonds are an obligation of
the United States, and, though there
will be a considerable deduction of
incomes, it can't fall on these bonds,
for they are free from taxation and
they can be exchanged for any bonds
issued in the future bearing a higher
rate of interest; and, as to security,
they are the highest kind of paper in
the world. The war must be paid for
by the savings of the future, and it
must be fought by these means. The
banks must lend money and expand
bank credits to be cancelled by ac-
cumulated future savings"
Loan Not Subscribed
But though you have done so we'll
here" said Mr.. Vanderlip. do not
imagine the loan has been largely
1t has not been sub
scribed, and the time is growing
short The country is facing a seri-
Gus situation and has not yet walked
up to II. There are other loans COM
ing. Twelve billion dollars will be
needed, l am told, before the close
of the year"
Congressman Burke also dwelt at
length upon the excellence of the |
bonds as an investment and. the ne
cessit" or patriotic people to sup
port 9 issue.
BUY a bond now, and get interest |
on the investment; or, paw the money |
later in the form of indemnity and |
get q tax receipt" is. the way he
put it.