The Bridgeport times and evening farmer., 1918-04-29
HENRY CLEWS
 | WEEKLY. LETTER

SnGEtc interus st for the time being is | centered almost exclusively on the ! Liberty Loan campaign, which is be- ng pushed with daily increasing en- husiasm- Thus far subscriptions nave not come in as freely as desired. This temporary Hull may be attrfb- lted in part to preparations of heavy income tax payments ,by those pos sessed of considerable wealth whose investments in Liberty bonds may be essened thereby. The railroads, for obvious reasons, are also not sub scribing as in former loans; and some of the industrials, because of in creased expenses and smaller net profits, are. less able to subscribe than before In few instances industrial dividends have been reduced; and in consequence of factors such as these the purchase of bonds by large hold CTS has been somewhat curtailed. Not few large subscribers are holding back. On the other hand, the sub scrrptions from those of moderate means have greatly increased. There is no doubt that this loan will be much more widely taken by the pub lie than any of it's predecessors. This is as 1t should Do. The loan in a real sense ought to be a popular loan, held chiefly by the people themselves. Such a display of patriotism, such an ex- precision of confidence in our own government and resources, will do more to unify and strengthen the na- tion than anything else. Every bonS0- holder to all intents and purposes will be stockhodder in the United States; its interests will be his interests, and its safety his safety. Every bond holder will be @ better, steadier and more thoughtful citizen by thus in ves4fng in tGs country's welfare. The last loan was distribut d among over 8, 900, 900 subscribers, and this loan, it is to be hoped, will be far more wide Hy distributed There is no doubt the loan will be largely oversubscrfbed.
 So far is the war is concerned, the week showed little change. The Ger mans are apparently about to initiate another intensive drive against the British which may or may not bring critical reeults Should Amiens fall, the result will be 6fscouraging and will prolong the War, but such an event would be of no permanent inn IOrtance. The next few days will de- eide. Among the Allies the undertone of confidence is unnnstakable, the re- cent setbacks having distinctly stiff 4fened rather than weakened their morale The remarkable steadiness of British government bonds Is clearly due to this confidence in high ffnan- ical circles here and abroad. There can be no peace until Germany is beaten and surrenders. That is now the supreme American objective, quite as much as that of our Allies. There is well founded anxiety for the future of Holland, which is in sorry posi- tion, fastened in between the two sides of the titantic conflict. Amer ican sympathy goes out to Holland, also the hope that she will not be drawn into the vortex. No country has more to lose or less to gain than Holland, and no coutnry has more splendid record in the historic strug- gle for liberty.
 Great Britain has just set us an as- tonishing example of national grit and readiness to make every sacrifice for victory by announcing a budget over Ille SICdlCob III the history of the world. This mag nifcent sum iS to be raised entirely within Great Britain by population of only 4S,O00,O0O of people. British war expenses for the coming year are estimated at $4,OOOOOO0OO, of which nearly one-third VIII be paid out oi taxation. The British debt now stands at $S9. 900, ,000, ,O00 including sS,000, 0OC loaned to the Allies. Our own ex- penses during the first year of the war have been about $10,0CO, ,0Gn GOO nearly one-half of this representing loans to our Allies. Our population iI approximately 110O00,OO0. This com. ing year our expenses will surely bt much larger than the sum just named and we are raising only about IA pc cent. by taxation, the remaining 8 per cent. being provided for by bonds If Great Britain after nearly fou
 years of war with her smaller popu latton and resources can successful! stand such a. huge strain, as she cer tainly is, there is no reed to feel an! anxiety concerning the ability of tn
 United States, which has mUcI larger population, much greater re sources and has not yet been wearie'
 by prolonged struggle. America cal
 strike mighty blow. and it will b
 only Germany's fault if it comes wit
 crushing force.
 General business is very good, con
 sidering the abnormal uncertaintie