New-York tribune., 1918-04-22
An Unlimited Opportunity


the third Liberty Loan will accelerate
subscriptions more than expressions of
super confidence
Some will be officially "bearish," on the
theory that people can be moved by the
thought of failure; and others will hold
for keeping the heart lifted up.
Since the selling of war loan is
bound to be less financial than an
emotional performance, we suggest that
hereafter, or in this campaign if it be
not already too late, specialists in mass
psychology be drafted for the job. They
could say when to boast and when to turn
on the gloom. That subtle function hith-
crto has been performed by Mr.. McAdoo.
He has known the right moment at which
TO become "bearish" and talk ominously
of the prospect. That is to be expected,
perhaps this week. One difficulty is that
the situation is very uneven. More
"scare stuff" is needed in this district
than elsewhere, for New York has fallen
to ninth place in the list.
The explanation is simple enough
This loan campaign has been better
handled than either the first or second.
1t started off too we'll. The feeling pre-
vailed from the first day that it
would "go over" with whoop. The only
question was as to the amount of the
oversubscription. To that feeling all
most wholly is owing the fact that the
loan now drags.
1t will not fail
1t will be all taken
The remainder could be raised in one
day if the people got only little cx-
cited. If for any reason they should
not get excited enough, or in time, the
loan would still be taken by banks and
institutions.
This ought not to happen.
The reason it ought not to happen is
not that it would matter to the govern
ment, for it would matter very little,
but that it would be great pity if the
people lost their opportunity
Get this straight.
We like to think of it being war DUTY
to buy Liberty bonds
The government says, "Thank you."
But everything in war time gets up-
side down.
1t is privilege to buy Liberty bonds.
The only reason it isn't more annro-
Grated Is that it lies open to every one.
What is common cannot be thouph+
valuable. All the same. the opnortun;tv
TO stop at any bank and buy ~ per
cent United States bonds at par on the
instalment plan, dollar week up Is
one that people will talk of for genera
tions to come.
"hen the war ends this country will
be the richest in the world. That is in
cvitable
1t will probably be the only creditor
nation on earth. Four years ago it was
the largest debtor among nations.
Liberty bonds will be the most pre-
ferred investment security in the whole
world; not for sentimental reasons. but
for sound financial reasons.
They will sell at a premium. because
they will be sought by investors Of all
countries to whom safety is the first
consideration.
There will be great rise also in the
actual value of Liberty bonds.
After the war prices will fall. That
is to say, the value of money will rice.
The Liberty bond you buy now with IN
Gated money will be redcemable in de-
natcd money.
Jg this Obscure?
Then take the concrete illustration.
800 Liberty bond will buy onlv
fifty bushels Of wheat at 80 a busbel
Wheat is dear and money is cheap.
A year after tfk war wheat will be
{ perhaps ~ q bushel. and then the same