The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-09-05
LIBERTY LOAN OCTOBER |.
SUBSCRIPTION BOOKS WILD
CLOSE AFTER 30 DAYS.
Government May Pay Newspapers for
Advertising Next Issue OF Three
Billion.

Washington, Aug. 31.-The open
ing OF the next Liberty Loan cam
paign has been set tentatively by the
treasury department for October 1.
Subscription books will close Mo-
vember l unless the program is alter
ed
The amount the interest rate, the
denominations of the bonds and 9TH
er details will be announced after
congress disposes of the pending
bond bill. Indications are that the
next Offering will approximate $3.-
OO0, 100000. Whether it will be ad-
vertised by the government through
paid newspaper space is under con-
sideration, but Secretary McAdoo stat
ed tonight the cost Of such an under
taking would exceed the appropria-
tain available for the purpose.
Under the war revenue bill pass
ed last April s7,e0O.OOO was made
available for expenses Of floating s5,-
OOO, 200, 900 in bonds and $4,000, ,00O.-
600 in short time certificates Of in
debtedness. 1t is reported that
about half already has been oisburs-
ed in connection with the flotation OF
the $4,000, 100000 Liberty bonds first
offered and the certificate Of in
debtedness put out in advance of the
loan.
In announcing the tentative pro-
gram for the second campaign, Mr..
McAdoo appealed to Liberty commit
tees to perfect their organizations.
The secretary's statement regarding
newspaper advertising said:
There seems to be an impression
that the treasury department i'm the
first Liberty Loan campaign applied
for free advertising or paid for ad-
vertising in some papers and not i'm
others. That is entirely erroneous,
The treasury department did not ask
newspaper publishers for free ad-
vertising because I realize that the
newspapers only profitable commod-
ity is advertising space and that htere
are many papers which are not able
to give free advertising, especially i'm
view of the high cost of print paper
Newspapers and press associations
loyalty cooperated with the govern
ment in the first Liberty Loan. News
and editorial columns were devoted
most generously to the issue. They
carried its message into every home
and deserve great praise for their
service OF patriotism. The people Of
the country want to know the finan-
cial needs of the government and the
details of the issues Of bonds. That
is news. This information was given
to them in the most comprehensive
form possible and the newspapers and
press associations have the satisfac-
ton of knowing that they contribute
ed immeasurably to the success of the
loan. Success could not have been
accomplished without their aid and
cooperation. have no doubt that the
government will have the same gen.
uine support from them in their news
and editorial columns in connection
with the second issue.
"The question Of paid advertising
presents serious problem for the
government. The value of advertis-
ing can not be doubted and il the op-
Grafton could be governed by the
same considerations as those which
they determine the action Of private
enterprise it would be much simpli-
fled. A private enterprise may ad-
vertise in selected number of
mediums most useful for it's purposes
and may control its expenditures for
that purpose without any Limitation
except it's own desires or ability to
pay If the government engages i'm
such a campaign it must advertise i'm
every newspaper and periodical i'm
America without discrimination, all
must have equal treatment and should
have equal. treatment"