Carroll County democrat. (Huntingdon, Tenn.) 188?-1971, 1918-04-26
NATION'S PRESENT
CRISIS REQUIRES
FULL DUTY OF ALL
SECRETARY MeADoo POINTS OUT
THE OBJECT OF WAR SAVINGS
AND THIRD LIBERTY LOAN.
LOAN CAMPAIGN INTENSIVE
The Work Of Neither War Savings
Nor Loan Organizations Should
Be Permitted to Overlap.
By WILLIAM G. McADOO,
Secretary Of the Treasury.

secretary OF Ine treasury.
10 the Executives and Workers of
the Liberty Loan and War Savings
Campaigns:
AS the time for the opening Of the
campaign for the Third Liberty Loan
approaches, it seems advisable to set
forth In a definite way a plan by
which the activities Of these two or
CARNATIONS shall be brought into uni
son for the period Of this campaign.
The War Savings Organization
should have for its primary object
the education of our one hundred mil
lion of people to the,idea that at this
time Of war and national crisis the
practice of thrift Is not alone mat.
ter Of personal wisdom or advantage,
but is vitality necessary to the welfare
Of the nation. The United States gov.
eminent, in its prosecution OF the war,
requires the use of the products of
labor to the extent Of billions of dol
lars per annum, while at the same
time 1t has been necessary to remove
from productive employment over one
million five hundred thousand men.
This demand for material cannot be
met il the normal needs of our popu-
lation are continued. To a reduction
of these needs the chief activities of
the War Savings Organization should
be directed, and as a complement to
this work the savings thus effected,
when translated into terms of money,
should be invested in U. S. govern
ment securities.
On the other hand, the Liberty
Loan Organizations are confronted
with d problem of raising within
short space of time billions Of dollars
to meet the immediate requirements
of the Treasury Department. Insofar
as these monetary requirements can
be met out of savings, the situation is
thereby benefited, but in any case the
money must be raised, and raised
quickly The campaign must there
fore be intensive and, while pointing
out the necessity Of self-denial in ex-
penditures, must be directed toward
amounts Of subscriptions as we'll as
numbers of subscribers. The needed
amount must be raised, even though
present savings are not sufficient and
even though it becomes necessary TO
pledge future savings through the use
Of credit facilities.
In the coming Liberty Loan drive,
therefore, the War Savings Organiza-
tion should continue their efforts in
the formation of War Savings Socie-
ties, educational work in the schools
and general thrift propaganda. Their
actual selling organization should,
however, be combined and oo-ordinat.
ed with that of the Liberty Loan Or
gani2ation to the end that during this
period sales of government securities,
both Liberty Loan Bonds and War
Savings Stamps, should be made in
the largest amounts possible to each
individual buyer, but the purchase Of
Liberty Loan Bonds rather than War
Savings Stamps should, during this
period, be the main object To this
end, during this period, all donated
advertising space should be devoted
to Liberty Loan offerings.
The first effort of both the Liberty
Loan and War Savings organizations
during the coming drive should be to
sell Liberty Loan Bonds, and no mem
Der Of the War Savings Organization
should endeavor to divert purchaser
of Liberty Loan Bonds to the pur.
chase of War Savings Stamps. On
the other hand, there are persons who
are unable to buy Liberty Loan
Bonds, and all these persons should
be urged to buy War Savings Stamps.
With regard to partial payment sub
scriptions to Liberty Loan Bonds,
these should be encouraged. but where
employers of labor or others have
formed efficient War Savings Socie-
ties which are actually obtaining sys.
tematic and adequate subscriptions to
War Savings Stamps this work should
not be interfered with by an endeavor
to supersede the War Savings Socie-
ties by the introduction Of the partial
payment plan for subscriptions to Lib
erty Loan Bonds. Such War Savings
Societies should make every possible
endeavor to promote the sale not only
OF War Savings Stamps but Liberty
Loan Bonds during the coming drive.
The loyal army Of workers in both
these organizations must realize that
they are, working for a common cause,
though by different methods; that
each is part of the Treasury Depart
ment force, and that each is under
Treasury Department control.
Complete harmony and unity of pur-
pose helps both organizations in the
attainment Of the purpose of each
the successful financing of the war
on a sound basis. We must have COM
plete and cordial cooperation between
the two organizations, and | am sure
that / may count upon every member
of each organization for that kind of
patriotic work.
/ ask that these suggestions be carr
ried into effect both in letter and in
spirit