The Parisian. (Paris, Tenn.) 1907-1962, 1918-08-16
FIRST TWO ISSUES
0vERSUBSCR|BED
Quota of First Series Was $50, 1000,
900, and More Than $4,000, 900
Are Sold Satisfactorily.

Il
astically subscribing for their quota
of the United States certificates of
indebtedness, and are thus paving the
way for the comparatively easy
floating of the Fourth Liberty Loan.
These short term certificates are
reckoned in financial circles as the
best possible commercial paper, and
like the Liberty Bonds themselves,
are free from the ordinary taxation.
From the very first day the Ger
tificates of Indebtedness were made
available encouraging reports were
received at Liberty Loan Headquar-
tiers, 1868 Railway Exchange Build
ing, St. Louis, and these reports are
still being received daily.
On June 25th M. E. Jarrett, of
Batesville, Miss, chairman of the
third Mississippi division, wred: "Ev-
cry banker in district No. has sub
scrbed for United States Treasury
Certificates"
| Coming from one of the great cot
ton growing states, where that COM
modify had absorbed so much of the
banks resources the ready response
was exceedingly gratifying, as indi-
Eating the unquestioned patriotism
of the bankers of that section.
| Under date of June 26th the Van
fdalia, Mo. Banking Association wrote
las follows
"This bank is, and has been ever
since the war was declared by Con-
gress, run in the intrest of the gov
eminent, answering every call made
by it for more than a quota; and we
shall continue to aid in every posi-
BILE way to the end. We shall leave
nothing undone that it is possible for
us to do to enable the government to
continue vigorous prosecution of the
war in which we are engaged. We
feel that any bank that shirks its du-
ty in this emergency should be.bawl-
ed out" and its charter taken away
from it. No room in this country for
slackers."
| The metropolitan cities are re-
1 spending as periodically as the bank
ers from the smaller communities.
William R. Compton, Chairman of
the Liberty Loan Organization for the
Eighth Federal Reserve Dist. re-
quested John G. Lonsdale, president
OF the National Bank of Commerce.
st. Louis, to prepare a 200-word
article ON why the bankers should SUBJ
scribe for the certificates. Mr.. Ions
dales' bank has quotto of $4,000, 900
per month, or $16,OOO,OOO for the
campaign. He replied:
Permit me to skip the 2O0-word
space, for only one thing needs be
said to the bankers in the Eighth Dis
trict: "Mr. Banker: The Govern
ment in asking for your subscription
says in effect that it is necessary
for the successful conduct of the
war; That is the only argument
necessary-the record of the bank
er sapprove it."
Once in while bank thinks it
has good excuse for not sub
scribing to the Certificates of In
debtedness, The following quotation,
is from aletter from a Missouri
banker:
"Find herewith subscription blank
covering our subscription to U. S.
Treasury 1-2 certificates of In
debtedness for $4,000, being 2 1-2
per cent of our total resources.
Frankly we haven't the available
funds on hand to make this invest
ment, and will be compelled to bor-
row from our correspondent to take
this subscription. Is it incumbent on
bank to subscribe for these certifi-
catse where they have't the available |
funds? We have always met every
requirement made of us in the past, |
and / just couldn't conscientiously |
pass this demand by without trying
to meet it, notwithstanding we havn't
the funds at this time to buy the GER
tificates, without borrowing them.
i would appreciate an expression
from you on this point under the exis-
ting circumstances just related"
Chairman Compton replied: 81
note that you want a bank expression
as to the duty of bank taking these
certificates of the present issue. /
feel that it is the duty of every bank
to take its quota, either IL per
cent of your resources every two
weeks or five per cent of your re-
sources once month, which ever way
is most convenient to you.
"Your position is being fully load
cd nm 81 4ho nranox.4 k;x.n, :. - J.G