St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1917-05-23

Gilmore T. Ide, of ST. Johnsbury, was
appointed, at meeting called by A.
l.. Aiken, Governor of the Federal Re-
! serve Bank of New England, and held
at Boston last Wednesday, to organ
| ize in this district a committee, of
which he is to be chairman, for the
purpose of .rousing the people to their
| duty in subscribing to the Liberty
Loan" war bond issue.
Mr.. Ide returned Sunday and will
go to work Immediately in forming
the committee. 1t will be composed
of bankers and other business men of
the vicinity.
The meeting of Wednesday was one
of great enthusiasm, according to Mr..
| Ide. Many excellent speakers were
! heard and all urged that the facts of
I the need for money be put before the
people and that their patriotism be
aroused to perform the duties before
| them. 1t was pointed out that many
| thousands Of men will be drafted in
| the near future and that unless the
subscriptions come rapidly they will not
have the supplies, the clothing or the
food they should. This meeting was
| followed by a luncheon at the EX-
change Club.
Meeting Friday
Another big meeting was held Fri
day at the Boston Chamber of Com
merce rooms. Industrial representa-
tives from all over New England were
present Among the speakers at this
meeting was Professor Sprague, of
Harvard, Mr.. Ide's son-in-law. The
gathering was one of the most sue
cessful and enthusiastic ever held in
the Chambers. Patriotic feeling was
intense and when a call for subscrip-
tons to the Liberty Loan was made
the response from the men gathered
was s125,000. Among the subscribers
was messenger boy who happened in
during the meeting. He said that he
wished to purchase a bond for $4,000
but that he had only $4,000 in the
bank He became the hero of the
day. His deficiency ins funds was
quickly made up and now he is the
/ proud possessor of a bond.
People Must Buy
1t was pointed out that the bond
issue must be purchased by the peo-
pie. The banks cannot put their
money into the loan for the reason
that at this time more ready cash is
needed by them to supply farmers
business firms, and other borrowers
than would be the case did ordinary
conditions prevail.
For those who have not a sufficient
sum of money at the present time to
purchase bond, terms will be made
leaving no excuse for ignoring the ma
TONS appeal to her people.
The government it was explained
! sum SO that the men who are to be
called in the draft, to come shortly
II will have sufficient clothing, food
Il housing, equipment, and the many
II other necessaries to their comfort
II They will not have these things if thu
II government has not the money to pur
"A chase them with It was pointed gu
II that the men to be benefited come
from the people who are asked to blu,
these bonds, and that those who sta,
at home should surely be willing tt
I contribute to the comfort of their owl
fathers, husbands and brothers.
The principles of the bond issu
were explained. Some of the detail
are as follows:
Description of Bonds
Bearer bonds, with interest coupon
attached, will be issued in denomina
tons of $50, 500, $500, and $1,000
Bonds registered as to principal an
| interest will be issued in denomina
tons of 500, $500, $1,000, $4,000, $40,
N 600, $4,000 and 100000.
III The bonds will be dated June Il
| 1917, and will bear interest at the rat
HI of 3 4 per cent per annum from tina
II date, payable semi-annually on De
| | cember Is and June Is. The bond
H will mature June Is, 1947, but tn
III issue may be redeemed on or afte
III June Is, 1882. The bonds will be ez
empt from all taxation. except estat
IN or inheritance taxes.
If any subsequent series of bono
III (not including Treasury certificates
III Indebtedness and other short-term Oh
ii ligations) shall be issued by tt
VI United States at higher rate of il
II terast than 3 II per cent per annu1
III before the termination of the war b.
II tween the United States Of Amerit
III and the Imperial German Governmel
IL (the date of such termination to
III fixed by a proclamation of the Pres
IN dent of the United States), the hol
III ers Of any of the bonds of the prese
| issue shall have the privilege of co
| verting the same into an equal p
l amount of bonds bearing such high
III rate of interest.
The agencies designated by t
Ill Secretary of the Treasury to recei
IL applications for the bonds now offer
IL are the Treasury Department
III Washington, D. c., and the Fedel
I'll Reserve Banks in Boston, New Yol
II Philadelphia, Cleveland, Richmol
III Atlanta with branch at Kew {
leans), Chicago, st. Louis, MinneaI
lis, Kansas City, Dallas, and San Fra
cisco.
Large numbers of National ban
state banks and trust companies,
IL vate bankers, express compan
newspapers, department stores {
III other private corporations, firms {
organizations, have periodically off
ed to receive and transmit applicat
for the Liberty Loan without expe
to the United States or to the ap
cants. The Secretary of the Treas
will have application blanks vic
III distributed throughout the country
III these private institutions and also
. III the post offices and sub treasures;
Ill dividual subscribers may use tt
copyaninncQc NAV send their