The citizen. [volume] (Berea, Ky.) 1899-1958, 1917-10-18
people, F. BACK lkk,, THE h..
First Week Shows That the
Spirit Of the Times Although
Dollar Total Is Far
From Goal

The first week Of the campaign Of
the Second Liberty Loan of 1917,
while not showing 90 much result in
actual purchase of the governments
bonds. nevertheless has proved that
the American people are determined
to back up their government In its
financial war program.
For many reasons individuals and
corporations have not been quick to
purchase the second issue Of war
bends. but II 10 safe to say that they
are making arrangements TO do 90. and
that by the end OF another week.
greater results will be mplished
In dollars and cents.
Business institutions have had to
adjust themselves to new legislation
and undergo changes incident to pass
age Of new income and excess profits
laws. Some knotty questions have had
to ne untangled. But Cleveland bank
ers assure the Liberty Loan Commit
tee that there is no doubt that the
largest business houses of Ohio will
be heavy purchasers Of the Liberty
4 per cent bonds. This may not begin
to show In the results until the third
week Of the campaign.
Individuals likewise have had to
make commitments IN new ways for
the past six months and many did not
expect to invest In more Liberty
Bonds quite 20 soon after the first Is
sue was put out.
How to Realize War.
II has naturally taken many people
Of the United States Q considerable
length OF time 70 come to full realiza-
ton that Ne are engaged in war on
such Q large scale. The transition
from . high state of civilization. in
which nearly everyone looked forward
TO realisation Of peace aims. to a
state Of actual war was 30 radical a.
TO change the course of lives in many
ways. Plans Of individuals and cor
porations have had TO be altered. We
have had to settle down to O state of
arm determination to win . war on .
great principle. II may take some
people little longer to reach . point
where they fully understand. fully sp-
preciate Just what all this means, but
sufficient number Of red-blooded Amer
leans now do understand II to insure
success Of this issue Of war bonds, or
the sale Of - many more a. neces-
sary.
II Is indeed a compliment to the
United States Government, as we'll as
the present national administration
that an army Of 1000 workers In the
fourth federal reserve district alone
are giving all their time and energy to
make this loan . success. II 10 large
ly q volunteer army. Il IL on the
March to 4 sale goal Of s400. 900 900.
and expects TO have l.000. 900 subscrib-
ers by Oct ~.
Leaders Comic dent.
Although reports are not satisfying
to those who do not understand the
those in charge of the
are not disturbed. Within
4 few days. bonds will be ready for
and this will be the cue
Tor purchasing on larger scale.
Many investors prefer to have deliv.
cry Of their purchase when payment 10
made.
d. c. Wills, chairman Of the Federal
Reserve Board. announced today that
interim bonds good for two years will
be on hand soon. probably by Oct. 10.
This will be replaced with bonds Of
he regular issue and will have four
coupons. Interest payments are to be
made semi-annually on this temporary
The issuance OF the interim bonds Ia
designed to prevent dissatisfaction
'uch a. resulted In some quarters
rom the delay In the delivery Of the
,onds Of the First Liberty Loan. II
was pointed out by officials OF the Fed.
Hal Reserve Bank that in the actual
reduction of bonds of the First Lib
'rty Loan. the government faced a
task. In the Cleveland
district alone. there were about 450..
100 subscribers. calling for sS5. 1000
separate bonds.
When II is considered that the loan
gas offered shortly after congress
cited upon Il. that the bonds had to be
arefully engraved and that the scar.
ity Of labor and material affects the
government bureau OF printing and en-.
ravinS Just - II does private enter
rises. Il vial be seen that to print the
rest quantity Of bonds required was