The Barre daily times. (Barre, Vt.) 1897-1959, 1917-04-11
S5. 100000 WILL BE
IN FORM OF BONDS
Both the Bonds and $1,000
100000 Certificates Will
Bear Interest at 81 Per
Cent-It Is Said to Be the
Largest Single Appr0pria-
ton in the History of the
World

Washington, d. c., April 1.-THE wal
financing bill, providing for $4,000, 100000
in bonds and $4,000, 100000 in treasury
certificates, was unanimously reported
for passage to-day in the House by tht
ways and means committee.
The bill was agreed on by the commit.
tee yesterday after conference with
Secretary of the Treasury McAdoo. The
certificates are to be redeemed at the ex-
piration of one year.
Both bonds and certificates are to bear
31a per cent interest. Bonds heretofore
authorized, but not sold for acquisition
of the Danish West Indies, the construc-
tion of an armor plate and nitrate plant,
the Panama canal, the speeding up of the
naval and the Mexican mobilization, au-
thorized at an interest rate of three per
cent, are convertible into 31a per cent
bonds.
Under the terms of the bill, the pres
ident and the secretary of the treasury
are absolutely unhampered in making a
loan of $4,000, 100000 to the allies. The
securities which the president shall pur-
chase are not stipulated The president
is only to acquire "the obligations of
foreign governments" in an amount not
to exceed S3,000,000,000.
To the secretary of the treasury is left
the discretion of designing the denomi-
nation and maturity of the United States
bonds to be sold.
Washington, April ll-President Will
son and his cabinet at yesterdays meet
ing reviewed the many phases of war ac-
tivities, found that every step possible to
equip the army and navy and turn out
munitions is under way, and decided that
the most pressing needs of the nation
now are to increase the supply of food
stuffs and ocean going vessels and to
raise sufficient money to finance Ameri-
cas- part in the war and make liberal
loans to the entente.
For present activities the allies are un.
derstood to be well supplied with muni-
tions and to have as many men in the
field as they can equip and feed under
present conditions. Through a co-ordi-
nation of the munitions industry in the
United States and the raising of large
army, the United States will be in a po-
sition later to supply any need in either
field.
Members of the council OF national de-
fense, who are also members of the cab
met, have been studying the best meth
DDS of aiding in the defeat of Germany
and they took to the president word that
the most pressing need of Europe is for
food and money. Therefore, the Ameri- |
can government viii seek to supply those
with whom it is making common cause.
President Wilson personally appealed
10 farmers through the National Agricul |
tural society to make it their patriotic |
duty to increase the food supply of the
nation and Secretary Lane brought for
ward plan for greatly increasing the
acreage under cultivation on public lands. |
The government already is in posses
sion of information that several of the
allied nations will be glad to accept loans |
from the United States. Russia and /
France probably will be among the first
nations supplied.
President Confers at Capitol.
President Wilson went to the House
to-day for a conference with Speaker
Clark and the other leaders on the war
program. Democratic Leader Kitchin,
who will pilot the war revenue measures
through the House, was summoned, and
President Wilson, Speaker Clark and
Kitchin went into confer
ence.
Reports on recruiting, reaching the war
department to-day, indicate that the
regular army will soon reach its peace
strength of l3S,000 enlisted men, and
until the president issues the order the
regiments cannot be brought up to war
strength, nor can new units be formed.
a.r- .-.--,z.,, .-1-