The Washington herald., 1917-12-11
LIBERTY BONDS
HEAVILY TAKEN
Holland Says Farmers Of
Grain States Did Part.

Gradually the details Of the sale Of
the second liberty bonds in the agri-
cultural districts of the United States
are being brought to the attention Of
the Treasury Department at Wash
ington. Some of the reports show un-
expected results and are especially
gratifying because they make 1t clear
that the farmers Of the United States
made. individually, more subscriptions
to the Second Liberty Loan-and per-
haps more willingly, than any other
Industrial class in the United States.
Another feature OF the reports that
. Is regarded with qualification by the
Treasury Department Is that they
show that the farmers, particularly
Of the Northwestern grain States, are
as a whole, thoroughly and even en-
thusiastically loyal. There were some
delay and even some difficulty in per-
suading the farmers to subscribe for
the drst liberty loan but the sales
men, many of whom were prominent
business men or leaders of industry
who undertook to persuade the farm
'ers to buy bonds Of the first liberty
loan were satisfied that when a sec
bIlu OllCFAHs was HlStut "Oulu bC
no difficulty in persuading farmers to
buy the bonds.
Result of Loan Campaign.
The frst-selling campaign vas
really educational: the farmers did
not understand what the meaning
that lay behind the liberty bonds
was. Some of them were almost
persuaded that the bonds represented
an indirect form of taxation. But
they learned well the lesson that was
taught by the salesmen in the first
campaign.
The Treasury Department. has just
received a final analysis of the results
of the Second Liberty Loan campaign
in the Northwestern grain States and,
particularly in the Ninth Federal Re-
,Aerve District. These reports show
. Aat in Wisconsin. Minnesota. North
and South Dakota and Montana the
bonds were bought more freely. some
times even more eagerly, relatively
speaking. by the farmers than by any
other class of citizens in any part
Of the United States. The report is
all the more interesting because in
the ninth district - per cent is in
farm lands. Nevertheless there was
u AeaA SCI pNANChAdSC VI lIlo pOpuldllOU
OF bond buyers and a wider distribu-
tion to iSdividuals than in any other
district m the United States.
Detailed Report.
Some of the details of the report
show that a little over Il per cent
Of the aggregate population OF the
district were purchasers of second
liberty bonds. 1t was easy to make
comparison between these figures
and the average for the entire
United States, a comparison which
is favorable to the Northwestern
farmers. for the average for the
United States as a whole is 94-10
per cent Of the population. The re-
turns show also that the second
liberty bonds have been placed in
seven out OF the ten homes in the
district.
Approximately $4,000 individuals
bought bonds, and this does. not in
clude re-saIes to employees of the
lPnds by the corporations. How
widely distributed this sale was is
shown by the fact that in the en-
tire district there were only $50 in
diYiduals who bought bonds of de-
nomination greater than $4,000.
District Is Rural.
Yet the district has only three large
cities; and with the exception of the
mining industry in Montana, Min
nesota and Northern Michigan 1t has
comparatively few corporate enter
prises large enough to make heavy
purchases of bonds. Nearly 621, 900 in
dividuals bought bonds in denomina-
tions less than $4,000, and many of
them less than 1900. The aggregate
of the sale of these bonds was $50, ,491,-
500.
In the spring when the first liberty
bonds We're placed on sale it was re-
ported that there was so large a num-
Der of farmers who were, either by
birth or by immediate inheritance, citi-
ZenS Of some Of the countries with
whom We are at war. that it would be
found impossible to place a large num-
Der of bonds in these States. Never
theless. South Dakota, which is al
most exclusively agricultural, sub
scribed for nearly 81. .OOO. 600 of the sec
ond liberty bonds, while the sister
State, North Dakota, which has no
large cities and of whose population 81
per cent are farmers. took of the small
denominations of bonds a little over
81 900. COJ
What Montana Did.
Montana, except for its mineral in
dus,ry. Is Cnieny ae"icUlturaL The
population of, the State is 376, 900. Yet
farmers in that State bought a little
'er 100000 in second liberty bonds.
ixty per cent of the population of
Minnesota is on farms. But the State
id, relatively. better. perhaps. than
any other State, for the people took
nearly $4S, 900, 900 in bonds. the denomi
nation of which was less than $4,000.
he northern. peninsula of Michigan
Jok $5,3S3,OOO of the bonds, and the
orthwestern one-third of Wisconsin
So. .3O4,OO In 800 counties OF the agri-l
cultural States Of Northern Michigan
Minnesota, Montana, North and South
Dakota and Wisconsin the statesmen
were made up of members of the coun-
ty and township organizati These
salesmen personally canvassed the en-
ire farming districts, going from
house to house.
Crop Was Light.
Montana subscriptions came at a !
.ime when there was almost COM ,
Iete failure of the 1917 crop and in /
;orth Dakota the statesmen were |
obliged to contend with crop failure
r,hich extended to all but few of the ,
eastern counties.
some of the work done by these
,Iesn1en was remarkable for cour-
20 and endurance. This is especlal-
true Of North Dakota and Mon
continuous snow