The Washington herald., 1918-06-29
BILLION
LIBERTY BOND
BILL ADOPTED
House Debates Less Than
Hour Fourth Popular
Loan Measure.

The 5000. 10000 bond bill, authorizing
the Fourth Liberty Loan issue, was
passed by the House yesterday after
a debate lasting less than an hour.
Only a viva voce vote was taken. the
lack of opposition making a roll call
unnecessary.
The spirit with which the House act
ed upon the measure was tersely stat
ed by Representative Nicholas Long
worth, who suggested that an appro-
pirate subtitle to the bill would be:
Huns Take Notice"
Mr.. Longworth also predicted that
there will be 300o00O0 subscribers TO
the next liberty loan bonds. As an
evidence of the eagerness with which
America is going into the war. he di-
rected attention to the fact that, in
fifteen months, the United States has
authorized the creation of a public
debt within 5000 10000 Of the amount
authorized by Germany in forty-seven
months.
U. 8. Expends Much.
''In one-third OF the time" Mr..
Longworth said, "the American people
have authorized the expenditure of al
most the amount of money that Il has
taken Germany three times that length
Of time TO get
''The First Liberty Loan was SUBJ
scribed to by about 100000 people. the
Second by about 100000 people and the
Third by more than 1900. 900 people. /
venture to state THAT the coming loan
will be subscribed for by 50.0Oo.Oc0
people; and we are going to keep on
issuing these bonds and the American
people are going to continue to buy
them. until we have enough to lick
Germany"
Debt ss4.Ooo. .ooo, 900.
The passage OF the bond bill in
creases the authorized public debt
of the United States to $4,000, ,O0O,-
600. Latest figures obtainable from
Germany indicate that the public
debt of that country is about ss5.-
900. 100000.
Representative Kitchin made q
brief statement outlining the terms
of the bill and expressing the hope
that It might be passed quickly and
by unanimous vote.
An Interesting circumstance in
connection with the passage of the
measure was called to the attention
OF the House by Representative
Fess. of Ohio. which was that the
bill was passed on the fourth ami
versary of the tragedy at Sarajevo.
which started the world on fire"
Mr.. Fess related some Of the events
leading up to the war, the oppres-
sion of the Balkans by Austria, the
bitter feeling engendered in Bosnia
and Herzegovina and the assassina-
ton of the Austrian Archduke by a
half-witted Bosnian.
Anniversary Of War Cause.
AT that time" he said, Great
Britain had a public debt OF $1,000
O00.o Today, according to Bonar
Law in his last statement in Par
lament. it is $4,000, 100000. We
had an Indebtedness OF less than
$1,000, ,000.0o0 to be exact, s97s. s.o00,-
900. Today We have an indebted
ness of probably between $1,000
900. 900 and $4,000. .00e. 900, IL you
omit our loans to the allies. France
had an Indebtedness at that time of
nearly $4,000, 100000; her indebted
ness now is approaching $4,000
100000. Germany's position is some
what different. because she finances
the war by forced loans instead of
by taxation.
Therefore have just this obser-
vation to make on this anniversary
day. that an incident in the capital
Of Bosnia four years ago today. has
disrupted the whole world and its
financial system, and is a peculiar
commentary upon the worlds civili-
zation."