The sun. [volume] (New York [N.Y.]) 1916-1920, 1917-10-22
US. TREASURY
WARNS NATION
ON LOAN TOTAL
Only $2,OOO.OOO,OOO Sub
scribed-NO. Returns Are
Being Concealed.
FALSE REPORTS PRINTED
People Cautioned Against I'm
due Optimism and Urged to
Campaign Vigorously.
FALSE REPORTS PRINTED
Special DespotrA 10 The SuS.

Specidi Despdfch TO THE SuS.
WAsHiNoToN. Oct 21.--The Treasury
epartment issued a statement tonight
, designed to- discourage undue optimism
over the size OF Liberty Loan subscrip-
tions. The campaign will enter It's last
week tomorrow, the statement asserted.
with subscriptions Of only about $4,000
100000. or 80 per cent. Of the hoped for
maximum. Notwithstanding reports Of q
much greater response
Ever since the latter part Of the f,rst
week Of the drive" II was said, lex.
aggerated reports Of the total amount
OF subscriptions have been published
daily In connection with stories that
Treasury Department figures were
'bearish' to the extent Of several hundred
million dollars. The policy OF the De-
parfment throughout the campaign has
been to publish the latest official figures
at hand exactly as returned by the dif-
ferent Federal reserve banks and to
make public without change estimates
forwarded to Washington by heads Of
various district committees.
Committee chairmen throughout the
country have been asked to base their
estimates on what they know to be the
facts. and SO far as Is known at the
Department they have done so. A strik-
ing example Of the inaccuracy Of some
reports which have been sent broadcast
was shown In the case Of the Minneapolis
district. where estimates of current sales
We being published daily before the
sale started there.
Summary OF situation.
THE situation tonight, therefore. ac-
cording to the best information that the
Department possesses, Is that the sales
to date are about 81. .0O0. .060. 900 short of
the minimum and $4,000. 10000 short
OF The maximum quota set for the
country by. Secretary McAdoo at the
outset Of the campaign. He insisted that
$4,000. 10000 In bonds be sold and It
was his expressed hope that the s5.0oo,-
600. 600 would be reached.
Vigorous efforts will be made In
every district between tomorrow morn
ing and next Saturday noon to raise the
$1,000. 200. 900 total. The $4,000. 600. 900
mark is being lost sight Of In the fight
for the higher figure.
One Of the strongest arguments to he
used In the closing days OF the campaign
will he the figures for the seventh Ger
man war loan just made public.
After more than three years Of war
and with a casualty list estimated at
S.5O0.000 persons. the German people,
exclusive of soldiers. have subscribed
s31O7.50o. 900 to loan. Nothing would
give the Kaiser and all other enemies Of
this country more pleasure, II will be
pointed out. than FOR the people Of the
United States to fail 20 subscribe a
greater amount than this to the second
Liberty Loan. when they have had only
virfn
ualties.
"rhe general outlook for the sale is
good. Only two disturbing elements
appear the apathy OF certain rural COM
munities of the middle West and South.
and overconfidence bred by unfounded
optimistic reports OF sales
Liberty Day Celebration.
Liberty Day next Wednesday. doubt
less will see a flood OF subscriptions.
The country will celebrate that occa-
sion. made a national holiday by Presi-
dent Wilson. as 1t has not celebrated a
holiday in many years. Nor will all
Its enthusiasm go up In applause and
speeches. II will be a sales day as we'll
as a day of oratory and display. Com
mttees in all the twelve districts Of the
country predict that the sales for that
day will outstrip any other single day In
the history Of either the first or the
second loan.
Liberty day speakers include former
President Taft at Hartford. Conn. for
mer Vice-President Fairbanks at Kan
sas City. Mo-, : Speaker Clark at Okla
homa City. Secretary McAdoo at At
lanta, Secretary Baker at Boston, Secre-
tary Daniels at Columbus. Ohio; Attor-
ney-General Gregory at Philadelphia and
Secretary Redheld at Baltimore. Will
lam J. Bryan also will speak at places
10 he selected later.
THE Boy Scout campaign which be-
gan last Saturday with 100000 workers
in tho field. will continue unabated until
Thursday night. The Scouts are report
ing good progress.
"Recapitulation Of sales made through
different organizations Of persons Of
foreign birth or extraction show that
great numbers OF so-called German
American bodies. including many that
supported the frst loan. are striving
hard to make the second loan a success.