The daily times. [volume] (Wilson, N.C.) 1902-1936, 1918-09-25
SIX BILLION
DOLLARS ASKED
Of the Peoule of America by
Secretary McAdoo Who
Opened Campaign in
NEW WORK YESTERDAy
NEW YORK YESTERDAY

.
New York, Sept. 25.-Six billion
dollars tis the minimum amour
amount which the people of the
United States are asked to subscribe
Tor the Fourth Liberty Loan, accord
ing to an announcement by Wn.- G
McAdoo, Secretary of the Treasury
in stirring address here last night
| outlining the government s plan iof
the campaign, which starts Satur-
day.
The share allotted to New York
Federal Reserve District is $780,
100000 of 80 per cent of the great.
est loan yet offered The loan, which
will bear 4 IA per cent interest
will run for 20 years, maturing Oc-
tober Is, 1888, unless the govern.
| ment should exercise it's reserved
right to redeem the bonds on or af.
ter October Is, 1898.
Asserting that, without this vast
sum, I'VE cannot lick the Kaiser,
theSecretary made special appeal
for the subscriptions of corporations
| and wealthy individuals, as returns
from the Third Liberty Loan indi-
Gated that wealthy corporations and
persons of large means had not re.
sponded commensurately with their
abilities to help" He pointed out
that of the 100000 Americans
who subscribed for the last loan
only 22,500, including corporations
bought bonds in excess of $1,000.
1T will be preposterous, he said
ito say that there are only 22,50O
men, women and corporations r
| America able to lead more thar
$4,000 each to their government ir
liberty bonds"
Mr.. McAdoo also condemned the
practice of "swindlers and unscru
pulous and unpatriotic people who
contrary to the urgent request o
The Treasury Department, had in
duced holders of Liberty Bonds tt
exchange them for stocks or invest
ments of doubtful value" He point
ed out that these operations forcet
the Treasury to buy thebonds thu
thrown upon the market, in order {,
protect the market and the credit o
the government.
Applauded by a crowd which fill
ed Carnegie Hall, Mr. McAdoo sal
in part:
The Treasury of the UEitet
States asks the American peopla L
subscribe to the Fourth Liberr
Loan $4,000 O00,SSS. This none
| is needed to carry on the war. w
cannot lick the Kaiser without 1
cannot restore peace to the wUrl
and re-establish liberty and dsmof
racy without it.
THE huge amounts expended b
America in this war are not who'll
used for destructive purposes. Crea
sums are used for constructive wo'
which will be of permanent value [
the American people"
The great merchant marine whc
| he said, on completion, will b. Ii
largest, most efficient and m ,der
merchant feeet in the world, wa
cited as one constructive use /
which Liberty Loan money will d
pu1.
For the fiscal year 1919.' h
said, ait is probable that $4,000
100000 to $4,000 100000 will rnr
| resent loans to the allied go yerr
ments and expenditures for ship.
Ishipyards, docks, wharves and o.he
facilities which will be salvagej {
the American people"
| Asserting that Everybody shoul
buy bonds" Mr.. McAdoo continued
Wages and salaries are higuer i
America today than ever befor. i
its history. Every dollar saved no,
and invested in Liberty Bonds wi
be worth much more when peac
comes again.
Il was asked not long ago wins
arguments could be made for h
Fourth Liberty Loan. l replied ilr
mediately "Pershing and our heroe
in France. No other argument
necessary
Who is not thrilled by what Pei
shing and his glorious men hay
done already upon the field of ba
tie? These unframed freemen
democracy have met the vetera
fighters and the best trained soldier
Of autocracy and hace vanquishe