Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-09-24
M'ADOO WILL FIRE
OPENING SHOT in
NEW LOAN DRIVE
Congress Finishes Bill Au-
= thOrizing Method of Sale
of Government Bonds.
TERMS OF FOURTH ISSUE
ANNOUNCED BY TREASURY
Rate of Interest Will Be 4 IA
Per Cent, Same as in
Last Series.
INITIAL PAYMENT 10 PER CENT
Balance Payable in Four Install
mcnts, Ending With JAN
uary 30, 1910.
TERMS OF FOURTH ISSUE
ANNOUNCED BY TREASURY
INITIAL PAYMENT 10 PER CENT
Balance Payable in Four Install
mcnts, Ending With JAN
uary 80, 1910.
TBy Associated Press.


WASHINGTON, September 23.-sec-
rotary NcAdoo will make his first Lib
crty loan address tomorrow night at
Carnegie Hall. New York. before a Lib
crty loan rally. arranged by the Ne"
York loan organization.
All terms of the fourth Liberty loan.
except the size and tho maturity. were
announced to-day BY the Treasury. The
amount. probably near sG,ooo,o0o,ooo,
was decided on, but announcement was
withheld.
The interest ra,o will be : Is per
cent, the same that of the third
loan. Bonds will be dated October ~
i've days after the close of the sub
scription period and the first interest
and will be for 17a days intervening;
Thereafter, scmiannual payments Will
he October Is and April 10 On. a $50
bond, the first interest coupon viii be
higher muitiplcs accordingly.
Both coupon and registered bonds
400. $500. 81 900. $1,000 and $1,000.
The $4,000 and 100000 bonds VIII he
registered only.
Since the latest maturity periods OF
tho first, second and third loans were
thirty. twenty-five and ten years. re-
spectively, 1t was considered probable
that the maturity OF the fourth loan
Terms of, he loan were communicated
to-day 10 TIC Bureau of Engraving and
Printing, and within few hours 800
600 finished bonds were ready FOR ship
nent. An equal number, or even more.
viii be turned out daily hereafter. The
bureau plans 10 print about 35.oeo,06J
separate bonds for the fourth loan. with
q larger proportion Of baby bonds" Of.
tho $50 denomination Than in previous
issues. in anticipation OF n multitude
Of subscriptions from persons OF small
MEASURE AUTHORIZES METHOD
or FOREIGN EXCHANGE
Congress tonight completed and sent
TO The President the administration bill
desisr ed to stimulate the sale OF Lib
erty bonds by cxempting from income
interest on such bonds held by in
diStdnals and corporations in amounts
not in excess OF 100000 OF the fourth
issue. and $4,000 of the first second
provides for regulation of foreign cX-
change and authorizes an increase I'm
,se ona ,ssne nae OF OF war savings IS stamps from
promise to-day between Senate and
House conferecs on the question of em-
poTcring the President to prohibit any
securities paved the way for final ac-
,ion. The President is expected TO sign
II to- morrow so that it viii become cf-
fectiyc before tho opening OF the
fourth Liberty loan campaign Satur-
day. Senate and House conferees to-
day changed the clause authorizing tho
ISo'ocHl ~ In MS ulSGFetiOn
All transactions in Liberty bonds so
that these bonds may be sold by the
holders for cash or offered as collateral
for loans. The government, however.
VIII be empowered to stop the prac-
tice OF exchanging the bonds for mcr-
chandise or making first payment on
merchandise with them
Ten per cent of the fourth Liberty
loan subscriptions will be required on
application. instead OF per cent. as
n C hn Tra
to-day. Twenty per cent will be due
November 81: 90 per cent December 1s:
20 per cent January 16, and 80 per cent
January 80.
This Is the first time more than three
installments nave been arranged in ad-
dltion on 70 the payment, on application
ment was increased as n means of dis
couraging such persons as in the past
subscribed without carrying out the in
The setting of the last installment Of
80 per cent as late as January 80 was
Liberty loan would not be noated be-
fore. late in February or possibly
March.
MAY NOT MAKE FIRST
PAYMENT UNTIL OCTOBER 10
The initial payment, although due at
the time OF piedging, need nos bc paid
until October 10, the end OF the sub
scriptIon>period and loan campaign
The nsta llment dates will not inter
fere with the practice by which many
subscribers have bought bonds through
cent a month for approx imateIy. ten
months. That arrangement, officials
cNpialned, Is 4 transaction between the
bank and It's customers, and the Treas
ury is moi involved.
\ poster issued by the imperial Ger
man government in an effort to beIittIe
the united states contribution TO the
", war snmio and bolster , @ the falling spirits OF
Liberty loan publicity bureau. and
100000. copies will be distributed in
loan campaign which opens formally
Intended solely for consumption with
wider circulation. resulting in the car nnr
"my's publicity guns being turned on
HIM the poster was forwarded by an
American in Switzerland.
nELTTTLES AMERICAN
ARMY AND SHIP POWER
Can Amei,:a's entry make decision
in the WARP" is the posters title And
with diagrams showing a small Amer
lean drmy and small merchant ma
sns.s rins, the he pamphlet inferentially an
"Russias army of millions could not
down .Germany argues tho poster.
"am.enrnicnaa .nn nao threatens to send transports
them" These. words arc inscribed on
a scroll held by a cadaverous-Iookin
Uncle Sam alongside a Russian soldier
appearing ,mme In comparison. AT
throughout Germany last July, more
than 100000 American ighting men
already were In orange. and this num-
her sooa will bo doubled.
"England's sea Lower and England's
merchant marine have not decided tho
war;" says tho poster. America can
not increaso her gross registered tons
N Continued on Second PaSc)
" u q u s.a ~