The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1917-05-26
TheLibertyLoan- Whatand Why

will come soon enough when we shall
have to pay in blood: let us pay in gold
now. so that that human sacrifice may
not be. as it was in England and France,
in vain!
So much for your patriotism; now for
your pocket.
The investment in the Liberty Loan is
safc-"as safe as a Government bond"
of course; the safest that is. OF all in
vestments. Not until the country is so
ruined that everything goes smash
stocks. bonds, railroads and savings
banks-will the Liberty Loan be re-
pudiated.
The German press tried its best TO
weaken the Anglo-French loans of past
years in attempted demonstrations of
their Insecurity. When the first of the
dual loans dropped temporarily to 81.
Berlin laughted at its failure" 1t has
since recovered to 95. A similar loan
giving security for it's payment is now
at 81. Doesn't that show the confidence
shown In two great nations crippled by
two years of war? Our own loan, of
fered to the richest country in the
world is infinitely stronger-the safest
Nor need one worry that. later. other
Loans will pay, as they often do. a
higher rate of interest. The govern
ment Will put no such premium on the
laggard lender Whatever the interest
paid on later bonds. the holders of Lib
erty Loan bonds will be guaranteed the
privilege of converting their securities
into certificates of the new and more
remunerative loan. England has done
it; France has done it. Germany. IN
deed, has even evolved lottery propo-
sition by which certain lucky numbers
can exchange so as to make extra profits
of 25 per cent on the investment.
Does 3l5 per cent interest seem low?
Most savings banks pay that but very
few pay more, and they offer infinitely
less security. Stocks pay better. but
stocks are not nearly so safe ordinarily
and now in time of war still less so
Nobody knows which way the cat will
jump. Nobody knows. today. even
whether to buy or sell The govern
ment. therefore, can afford to play safe
and by making this fair offer for money
immensely Increase its revenue for ap-
propriations. And. with our TERRIFYING
Unpreparedness. God knows the gov
eminent needs all the money 1t can get
to protect Democracy not only abroad
but ct home. Thank God that 1t isn't
like Germany. paying out. for interest,"
alone. one billion dollars year.
Now. just as all guess-work about
military and naval matters, at the be-
ginning of the war. proved futile and
faulty. so all estimates by economists
as to the financial strength of nations
were wrong. No one had any idea of
the amazing borrowing capacity of mod
ern governments.
And the Germans. who have made so
many psychological mistakes = who
thought Russia too unprepared to help
France. and France too weak and de-
cadent to help herself.-the Germans
who could not anticipate that England
would fight
The Germans had another guess com
fng"-and again they guessed wrong
America did Wake Up,
So IL isn't strange that those same
Germans are now deriding our loans to
France and Italy as mere tips" They
are openly laughing at our little War
Credit OF, only Seven Billions.
Well. perhaps they have some reason
TO. this time.
like a good deal of money. But this war
has changed all our old standards. We
talk now OF billions quite easily. We