The Watertown news. [volume] (Watertown, Wis.) 1917-1919, 1917-06-01

nation is done on credit. The amount of cash
| on hand in the whole nation is only very
small proportion of the credit which is in use
| The banks should not take these bonds. They
| have to be passed on to the people.
If the bonds are passed on to the people in
| the wrong way the situation will be just as bad
| This is one Of the disasters of war which must
| be faced. II the people who have money in
the banks should buy these bonds and pay for
| them by drawing checks on the banks the
money would be drawn out of the banks very
shortly and credit would be stopped just ex-
actly as though the banks bought the bonds
themselves. certain proportion of the money
| III the banks has gone into these bonds and will
go into them. A certain proportion of the money
| or people with bank accounts has gone into
| the bonds and is going into them every day
But this proportion must not be allowed to be-
come too high If it does, credit will be stopped
| 1t is very clear that the bonds must be sold
because the country is at war and the war
must go on. If the bonds are not sold disaster
Will follow, which is worse than any disaster
winch can follow no matter what method is
used for the sale OF these bonds. 1t is very evil
dent that they must be sold, but what you are
here for today, listening to me is to help us
work out in this town, the fact that the bonds
are sold in the right way. We must work out
right mere the fact that the bonds are sold in
the way which will not work harm to us which
Will prevent the industries of this town from
closing their doors and the men from being out
OF work and the families without money to sup
port them and pay their bills. Half of this issue
of bonds, 1000, 900 ,000 must be bought bv peo-
pie who pay for them out of current income
That means, at least half of them must be
bought by people who have no bank accounts
just ike large proportion of you men in this
room. Any of you that have bank accounts can
use, and should USE portion of that money to
make first payment on these bonds buying
the BOND on the installment plan. Those who
have no bank account buy just the same
10 bo
tected. | would not advise any man here with
bank account amounting to $50 to buy a $50
BOND, and pay for it with a check on the bank
That would not be paying for the bonds out of
current income l would like to see him issue
check Of 50 first payment on the bond and
pay for the rest of the bond in instaIlments at
| 81 week out of his wages. That is paying for
1t on the installment plan out of current in
come, and VIII protect credit and not hurt it.
If all you men here before we leave this
meeting today each subscribe to $50 bond and
sign enlargement to pay for this bond at the
rate OF u a week, or as much more as you can
spare out OF your pay envelopes every week
you will be doing just that much to protect
your wages until this is done. You will be
doing more than that as I will explain to Won
| later, but that is the first and most serious
point that we have to think about today Just
remember that the way you respond to this will
| be the way that the average man responds in
these meetings Of wage earners all over the
Nation today Not one man who gets wages can
no
average OF this meeting will be the average of
every other meeting. We are going to be able to
tell right here today as to whether or not the
country is going to have business trouble Or
| whether it is going to have business prosperity
| NOW let us consider what will happen if
men just like us fellows here in this room sub
| scribe to these bonds out of our current in
| come and pay for them in instruments. Not
| only VIII there be no business trouble no
credit being stopped, no banks being unable to
in cti}
just like our own, where we all work every day
| closing down, because business closes down ali
over the nation, no. Exactly the reverse is 60
ing to be the case. In addition to the monev
| which is being spent today in buvine tho
Things that we work and the things that
| workers like us all over the nation work on
IN ADDITION to that, there is going to be $1,000
100000 of money spent as result of this loan
| ms money Will be spent by our government
ana by foreign governments in this nation for
every kind of supplies that you can think of
livery factory in the nation will be running full
Diast, lar more SO than they today even
| tnough business IS pretty good today There
VIII be a good deal Of overtime work for moro
foVertlme work than exists now, and that is not
bad thing for the man who gets wages, now
| is it? 0'' nv"
Every kind of metal that you can think of
Will be more in demand, steel copper iron
every man who digs it out of the ground and
every man who works on it while it is being
turned into structural steel and tool steel and
every other use to which metal is put will be
extended to keep up with the demand
ohoes-the leather that goes in the shoes:
races; the metal that goes in the eyeIets on
the shoes. va
Clothes-the buttons the clothes: the
material that goes into the clothes.
lhread-the spools on which the thread is
| wound N 20
NO article of commerce is too small to es
cape the stimulation which will come when
This $4,000 900, 0OO-this tremendous sum is
spent on top of the regular business of the ma
ton. 'io no
Hats and hat bands, the leather sweat bandc
IN the hats, the rifles, ammunition, cannons
TENTS khaki for uniforms; these are only a
very few OF the things which will be bought by
tne millions OF dollars worth and the produc-
tlon OF which will affect every worker in tbe
nation and give him more work to do. The