The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1917-10-16
LIBERTY LOAN
BEING BOOSTED
Campaign Takes Upward
Trend as Nation Begins
to Realize It's I'm
portance.
APPEAL TO BANKERS
All Loans Should be eliminated
Which Do Not Contribute d.
rectIy to Prosecution
Of the War.

UNITED Press Leased Wire Service.
WASHINGTON, Oct. 16.-
49, The Liberty Joan campaign
H. took an upward trend today.
q Aroused to the fact that
much greater energies must be un-
leashed If Germany Is to feel Ameri-
! cas- financial assaults. the nation Is
responding. This week, officials say,
will determine success. With only
eleven more days to go, the nation
has scarcely subscribed one sixth OF
the five billion dollars sought.
+ The country must buy bonds now at
the rate Of s81 100000 an hour. SO
far the average daily sales have been
only SCI 100000, whereas to reach the
maximum goal 1t must be 1881, ,0OO,0O
daily Meantime. efforts to consoli-
date and unity the country's banking
system to meet the loan and general
war needs are under way.
President Wilson has issued an ap-
peal to state and trust banks to Join
the federal reserve system, pointing
out that only through this tremendous
national system can the best effects be
obtained. He held it Is to be the
patriotic duty of all bankers to join
who have failed to do SO thus far, In
as much as only through this system
is real financial mobilization accomp-
lished.
simultaneously with this DECLARE
ton was the statement of President
If. A. Vanderlip, Of the National City
bank, New York, that banks ought to
eliminate all loans which do not con-
tribute directly to prosecution OF the
war. He pointed out that all the ma
tion's resources should be available
for war purposes and that any diver
sion elsewhere is improper.
Financial Strategy.
[By J. W. T. Mason, Written for the
/ United Press.]
NEW YORK, Oct. 16.-Financial
strategy is beginning ito play a part
in the final campaigns of the war,
hardly second to military strategy.
Both the British and German govern
ments are now planning to make
further monetary calls upon their
people and the moral effect of Amer
ica's new Liberty loan on, the bel
ligerent nations cannot be over-esti-
mated.
The Liberty loan will pay for
Americas part IN the war, as lts prl-
mary purpose; but the length 'of the
conflict will be measured by the
amount by which the loan is over
subscribed Every heavy subscrip-
ton above normal to the loan will
work for quicker repeal of the war
taxes by bringing the end of the con-
fict appreciably nearer.
Financial strategy should now be
played by the United States for the
purpose of showing to the German
people not only that American wealth
is practically unlimited, but also that
this wealth is the immediate call of
the government. The potency Of sill
yer bullets had been lost sight of
when America declared war, because
both sides seemed able equally to
create them But Americas quota
now being thrown in with the allies,
has changed this situation in vital
manner.
Bonar Law, British chancellor Of
the exchequer, recently said the al
lies financial position would have
been disastrous If America had not
entered the conflict. The Importance
of this confession must be chiefly