Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1918-09-25
McAdoo Gives Out Terms at
Speech in New York in.
Which He Says Money Isl
Needed to Lick Kaiser,
INTEREST RATE SAME
AS IN THIRD LOAN
Bonds Due in Twenty Years,
but Government Reserves
Right to Redeem All by 0c-
tober IS, 1888,


New York. Sept. 24,-SiX billion
dollars is the minimum amount which
the people Of the United States are
asked to subscribe for the Fourth
Liberty Loan. according to an am
nouncement by William G. MeAdo0
secretary of the treasury. in stirring
address here tonight. outlining tho
governments plan for the campaign
which starts Saturday
The share allotted to the New York
federal reserve district is $500, ,000,.
900 or 80 per cent of the greatest
loan yet offered The loan. which
viii be u per cent interest. win run
for. twenty years. maturing October
10, 1888, unless the government should
exercise its reserved right 10 redeem
the bonds on or after October / 5
1893.
Asserting that. without this vast
sum I'VE cannot lick the kaiser" the
secretary made special appeal for
the subscriptions OF corporations and
wealthy individuals, as returns from
the Third Liberty Loan indicated tha.
wealthy corporations and persons OF
large means had not responded
"commensurately with their abilities
to help" He pointed out that OF the
10000 Americans who subscribed
for the last loan. only 22.500 includ-
ing corporations. bought bonds in ex-
cess OF $4,000.
"It would be preposterious." he
said. "to say that there are only ~
500 men. women and corporations in
America able to lend more than $10,
600 each to their government in LIB
erty Bonds"
Warns Against Swindlers,
Mr.. McAdoo also condemned the
practice of "swinclers and unserupu-
ous and unpatriotic people who, con-
trary to the urgent request Of ths
treasury department, had induced
holders Of Liberty Bonds to exchange
them for stocks or investments ot
doubtful value.'
He pointed out that these opera
tons forced the treasury to buy the
bonds thus thrown upon the market
IN Order to protect the market AMI
he credit of the government
Applauded by crowd which filled
Carnegie ha;l, Mr.. McAdoo said In
part:
''The treasury of the United States
asks the American people to sub
scribe to the Fourth Liberty Loan.
b6, 900 100000. This money is needed
20 carry on the war. We cannot lick
he kaiser without it. We can not
restore peace to the world and re-
establish liberty and democracy with
,ut it. The huge amounta expended
by America in this war are not wholly
used for destructive purposes. Great
sums are used for constructive work
which will be of permanent value to
he American people.
Ships as Investment.
1--WE are building great merchant
marine. Upon completion IL will be
he largest, most efficient and mod
,rn merchant fleet in the world. Our
commerce after the war will be facil-
tated by these great national under
anu tuC tiiOHty 5loth lOE liltcD
purposes. is an investment of i'm
measurable value 10 the American
,eople. The loans to the allied gov
srnments are represented by obliga
ions Of great nations who will in
ime repay them. Out Of the $50,
100. 900 Of appropriations made
" the congress for the fiscal year
1919, it is probable that $4,000. .O00,-
100 to $4,000. 100000 will! represent
oans to the allied governments and |
for ships. shipyards. |
locks. wharves and other facilities
which will be salvagdd to the Amer
AN people"
Asserting that everybody should /
,uy bonds.' Mr.. McAdoo continued:
Wages and salaries are higher in I
America today than ever before in its
history. Those who spend everything |
hey earn are not only living In
ool's paradise. but they are doing I
srievous injury TO their country. They |
ire living in a fools paradise. Every |
lollar saved now and invested in
liberty Bonds will be worth much
more when peace comes again.
What we must do In America Is to |
Continued on Page Tw0.l