The Hood River glacier. (Hood River, Or.) 1889-1933, 1918-03-28
LIBERTY BOND
DRIVE IS NEAR
CANVASSING TEAMS ARE PREPARING
Captains and Executive Committee to
Meet Tomorrow Eyeung-lssue
Set at $1,000, ,000,0

The Hood River county executive
committee of the third liberty bond
campaign, district team captains and
members of the teams are in readiness
for the approaching solicitation of pur-
ehases. The valley has been organized
into l3 subdivisions, following school
district boundaries mainly. Captains
and their team members have already
taken preliminary survey of their
district.
The executive committee sand team
captains will holdla conference at the
rooms of the Commercial club at 7.30
o'clock tomorrow night. when all plans
will be further co.ordinated. The ex-
ecutive committee urges that every
captain be present at the club prompt
| ly at 7.30, as it will be impossible, at
least impractical, to begin the meeting
before the men are all there.
Plans are also under way for big
mass meeting to open the local cam
paign. Efforts are being made to Sc
cure Col. John Leader, former officer
of the British Royal Rifles, who is now
in charge of military instruction at the
| University of Oregon, come here and
deliver the chief address at the pro-
posed meeting. Details of these plans
will be available for next weeks pa
pers.
The Hood River Boy Scouts, Scout
master Crulkshank. who is also
member Of the liberty bond executive
committee, announces, are ready for
full participation in the coming cam
paign. The Scouts will parade on the
afternoon of the mass meeting, and
they will also act as ushers at the
meeting.
j. r. Nickelsen has been appointed
chairman Of special liberty bond
music committee. Mr.. Nickelsen will
train a double quartet to sing at the
different patriotic gatherings and have
full charge Of musical programs for
different meetings.
The third liberty loan, to open April
s, will be for $1,000, 600, 600, and all
over subscriptions, at Il per cent inter
est.
Bonds of the first loan, bearing "a
per cent interest, and of the second
loan at per cent, may be converted
into the new bonds, but those of the
third loan will not be convertible into
any future issue.
In connection with the loan Secre-
tary McAdoo plans to establish sink
ing fund with which to purchase back
any bonds of the third loan thrown
upon the market, in order to aid in
keeping the price up to par. The ma
turity of the bonds is yet to be deter
mined, but it was officially stated that
they would be long term, probably 20
or 80 years.
Most financial observers were sur
prised at the comparatively small size
Of the loan and at the interest rate,
both of which they had expected to be
higher. Reduction of government ex-
penitures and allied loans below the
former estimate is responsible for the
loans size, Secretary McAdoo explain
ed He said the bonds were made nom
convertible to put an end to expecta-
tions Of higher interest rate in the
future, indicating his purpose to main
tain the Al per cent rate for future
loans.
In announcing the loan, Secretary
McAdoo made the following statement:
1T is the belief of the Secretary
that the rate now proposed is sufficient
and that. by restricting unnecessary
capital tissues, and by inducing the
people who subscribe for liberty bonds
to save and keep them for investment,
and by purchases WITH the sinking
fund from those who find themselves
compelled to SELL future increases in
the interest rate may be avoided. In
order to put an end to the expectation
of higher interest rates it is proposed
that the conversion privilege shall be
eliminated from the new bonds, but
the holders of liberty bonds of all ex.
isting issues will be given an oppor-
tunity to convert their bonds into the
new Al per cent bonds.
''ln addition to the foregoing princi-
pie items of the proposed program.
congress will be asked for authority to
: issue bonds to the amount of S4, 500, :
{ 600, 600 in addition to those now author
lied, in order to provide for future is.
; sues; for authority to issue additional
treasury certificates of Indebtedness !;
' for authority to make additional loans
! to the allied governments during the
E summer, and for authority to deposit
\ income and excess profits taxes with
e national banks, state banks and trust
companies throughout the United
. States in the same manner as the pro-
ceeds of the liberty loans.
t 81 am sure that the people will re-
t ond to the third liberty loan with
r the same loyalty and enthusiasm that
d characterized their support Of the first
/ two loans. The great events now hap
pening in France must fire the soul of
f every American with a new determine
/ tion to furnish all the dollars and all
Y the material resources of Ameica that
4 are needed to put an end to the exec.
/ rabe atrocities of German militarism.
4 Defeat faces the kaiser. Let US has
t ten it by asserting Americas might
S with increased vigor in concert with
our gallant comrades.
v Most officials believe that, despite
+ the low goal set by Secretary McAdoo,
/, actual subscriptions will far exceed
: So, 900, 600, 900.
= Commenting on the interest rate Of
d 44 per cent, Chairman kitchin said:
: ''If people are not willing to lend the
!. government money at that rate in these
n times heavier taxation is the only al
tentative, -