The gazette-times. [volume] (Heppner, Or.) 1912-1925, 1917-10-18
BOND IGNORANCE.
G. G. CHAPMAN in Oregon Vote


That little advance has been made in Oregon so far as u
dersanng the Liberty Loan is concerned apparent the
early part of the campaign Patriotism is hgh-no ntensyine
of that sentiment in this loyal state could be demanded or de
Gently hoped for but something than patriotism is need
ed and that intelligent realization of the whole war situa
on the financial problems of the government and the invest
men value and convertible features of the bonds themselves
1t is surprising how many people think that buying gov
erment bonds is donation Unquestonaby it was sense Of
patriotic duty that mainly responsible for the magnificent
subscription record made Oregon for the first loan was
patriotic spirit that prompted many of the big subscriptions
well as the little And many who made subscriptions felt
they We're giving up their money just completely they
had donated it. except that they would get little interest
md get is back after many years The of the money they
felt, was being sacrificed by them.
This sentiment exists yet in the state Farmers and bust
who have large amounts Of cash hands refrain
ing from buying bons fearing they will tie their money for
many The fact that the bonds quickly convertible
no cash not to have entered their consciousness
II the bonds subscribed during the first loan had been the
ans Of purchasers month ago. this skepcsm would have
been dspated by to considerable extent For hen bond
buyers would have discovered that they could have sold them
ready market for all they had paid for them The accrued
interest would have than balanced any prevailing dsad
vantage the bond market By selling their bonds they would
discovered how bonds sold And then they would
have been eager to get money into instruments which
could be converted easily into cash when needed
could have been held at interest during any periods when cash
was not needed for immediate use.
better form than in government bonds matter whether he is
likely to need quick money the immediate future whether
ne desires to maintain his surplus in form for Investment
should one offer that appealed to his judgment.
Many bankers have cautioned their patrons against buying
too many government bonds This especially true in
communities outside Portland and is true of two Port
land banks conservative attitude sets well the average
banker He always important to himself and to his
patron when he tells him NOT to do anything than when he tells
him to go ahead Less moral risk is involved in advising against
than for.
What all the banks should do in order help their patrons
get their finances in first class shape for quick money when
needed to advise them to get much of their money they
can into government bonds Then they help them dispose
Of them whenever sale desired 1t is easy for any Oregon
bank to market government bonds quickly Two weeks time
the outside limit for completing the transaction for that gives
ample opportunity send the bonds to New York and receive
draft IN return But Portland bond market well New
York Many buyers have been quietly paying and accrued
interest They have not been making noise about it, for from
the buyers point Of view there need to "bu the market
Oregon should be bondownng state as we'll borrow
ing state There vast wealth here that be maintained in
the best kind of shape for quick conversion when needed kept