The Birmingham age-herald., 1917-06-30
A NEWLY UNITED NATION
By HOLLAND


 New York, June 29.-(SpeciaL) )-The ea- gerness with which the people of various federal reserve districts have read the reports that have told of the subscrip- tions to the liberty loan in each district, is regarded by Benjamin Strong, Jr., gov ernor of the federal reserve bank In New York. as indisputable proof of new solidarity, so to speak, of the American people. Only a few years ago Elihu Root, in an address delivered to the Pennsylvania legislature, deplored the fact that different sections of the United States were indifferent to other sections, the people not fully understanding what the true relation of all of the sections of the country, each to the other, should be- or that welfare in one section meant prosperity in all while depression in one section was sure ultimately to affect every other section.
 MT. Root then said that 1t would prob ably require some great and unexpected influence to bring all the people of the United States to a full realization of the fact that they are citizens of com mon country, and that each section of the country should take pride in the de- velopment of every other section. The floating of the liberty loan is regarded as fulfilling the prediction MT. Root made
 Some weeks will pass before it will be possible thoroughly to analyze the sub- scriptions made in each federal reserve district to. the liberty loan. Final scrutiny may show that large oversub- scriptions in some districts in part ex- plain the deficit in other districts For instance, the Minneapolis district seems to have subscribed less than was ex- pected. there being no ovefsubscription te l the lean reported from that district But | it is surmised in New York that con siderable subscription made by citizens | of the Minneapolis district was passed l through banks in New York. and pos sihly in Chicago.
 | In Boston the belief prevails that some large subscriptions were made to the ilo erty loan by citizens of that federal re- serve district through New,York banks | Had all of the citizens of that district | their subscriptions in Boston presum 1 ably the aggregate subscription for th' district would have been considerably II excess of the s332, 100000 which was re' ported as having been subscribed in tht Boston district.
 A SENTIMENTAL INTEREST
 Some curiosity and sentimental interes have been revealed in this city wher l com pa risons were made between the tota subscriptions reported from the Bostor district and the total subscriptions re ported from the Chicago district. Fo there seems to have been strong com petitive sentiment between Boston ant 1 Chicago. Three hundred and fifty-sevel millions were reported from Chicago al having been subscribed in that district and $322, ,0O0 900 in the Boston district l Nevertheless, although in absolute 1ig ures Chicago surpassed Boston, Bostor did proportionately better than Chlcago because it's excess subscription was apou per cent greater than the excess sup scription in Chicago. One reason Tor th' very large subscription which was mad | in the New York federal reserve dlstric | can be found in the fact that goot many millions were subscribed here D.