Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1918-06-19
To SEIZE FUNDS
# LOANS LAG
BANKERS SAY GOVERNMENT
WILL. oMMANDEER MONEY If
NECESSARY.
FINANCIAL LEADERS OF
DISTRICT DISCUSS MEANS
Prominent Bankers Declare New
Methods Must Be Resorted to in
Order to Insure Next Bond Issue
Recent Campaign Method. to Go
Into Discard.

chicago. June 19.-The next liberty
loan Of $4,000, C00,o must be raised by
making the people realize that it is
their duty 10 fight or work and buy
bonds. Spectacular appeals to patriot
ism and begging tactics will be re-
placed by mobilization that volun-
tar!ly places every dollar in the United
States at the disposal of the govern
ment for war purposes.
A hint of confiscation Of wealth
under certain conditions also was
made at the Garrick theater yester-
day. where more than 600 bankers
from 33s counties in the Seventh fed
eral reserve district met to consider
the method and allotments required in
financing the government until the
fourth loan is ffoated.
Bankers Pledge Funds.
The bankers pledged themselves and
their institutions to absorb their quota,
OF treasury certificates by which the
Seventh reserve district will purchase
$105,O00,0e0 worth every two weeks, or
total Of $4,000. 900 by the time the
loan is launched.
Cook county will take about 50 per
cent OF the total. its banking resources
being placed at $1,744.590,SSS.
The figures agreed upon for other
divisions in the Seventh district fol-
low:
Banking Per
Division resources. cent
Illinois (outside OF
OF Cook co.).... 500. s7s.sso 1929
All OF Illinois In
district -. ....s. sso, Ass, TIA 1891
All OF Indiana in
district -. -. 5s5.s5e,oS5 1o.ss3
Iowa CENTRE state) Ss1. ess.067 1929
Michigan Clover
peninsular 800. sso.76s,ss 1926
Wisconsin (south- $
ern portion) -. 542.321,6 55 10000
THESE figures, It was announced.
are based on reports from all sources
at the close Of business Dec. 81 last, or
the nearest available date.
Prominent Man Speak.
The urgent necessity that bankers
take their full share OF the certificates
was emphasized by Paul M. warburg,
vice governor Of the federal reserve
board Of Washington; M. b. Trayler,
director Of sales Of certificates for the
Seventh district: Governor ]. B. Nc
DouSal Of the Seventh district; W. A.
Heath. chairman Of the Federal Re-
serve Bank, Of Chicago. and others
A 1akies band from Great Lakes
station was a feature Of the occasion,
which before its close became q pa
tTlotic rally.
MI. Traylor. who made the principal
address, said in part:
'sMy own feeNng is that Il should
not be necessary to condct the nerve-
ra.ckdng and energy consuming cam
psaigns that UP, to the present we have
conducted for the purpose Of raising
the credit necessary to conduct the
war. Day by day we see constantly ex-
tending the policy Of communicating
the nations wealth Of raw materials,
labor and even the best of our coun-
try's young men for government needs
and service.
And yet the one thing absolutely
essential to make effective all these
forces. save for such taxes as have
been levied, is left to the free and vol
untary contribution and investment o.
OhOSS poSScSSlilS Liid&<CTeUlC.
Drastic Step Forecast.
rs It too much to expect that If the
attitude OF hesitancy, II not indifference
and shirking. all too evident in many
quarters. Is not speedily overcome, the
government will be placed under tho
necessity Of confscating that that we
now have and the privilege Of volun-
tarNy furnishing?
I'VE sometimes wonder what our
enemies think when, they read of the
oonbastic campaigns necessary for us
to conduct in order to procure the one
absolute essential, without which our
entire program is conceived in folly
and will bear fruit in disaster"
Mr.. Warburg urged the curtailing Of
credit for nonessential industries. say
ing:
1.-THE distribution of bonds in the
third liberty loan campaign in no dis
trlct was more satisfactory or success
full than in the Chicago district. The
splendid cooperation that the banks
of this district gave to tie government
in the period preceding the third III
berty loan campaign in the placing or
Of certificates of indebted
ness was one of the gratifying features
of the great drive.
There Is the necessity. however.
for making room in the banks for tho
certificates of indebtedness by curtail-
ing credits for so-called essential
purposes.
This curtailment should take place
without Undue harshness or without
creating alarm but it ought to be
carried thru consistently and energet-
ically.'
STATE TRAP SHOOT.