The Washington herald., 1918-04-01
Stt3,27O,OOO
THRIFTSTAMPS
Holland Discusses Record
of Four Months Sales
Throughout States.

A week before the third Liberty
loan is open to subscription it is pos
siole for of1cial announcement to be
made Of the aggregate sales OF War
Savings and Thrift Stamps through
out the United States in a little over
Tour months time
The government has sold to the peo-
pie nfs,60o00 worth of Thrift Stamps,
mostly In scent purchases. In this
period.
The interesting feature. however. of
the report Is one which shows the
I steady increase in the sales of these
stamps In Defender the sales were
comparatively small. They gradually
increased IN January and the increase
mas been steady. so steady. in fact.
as to justify the hope that the entire
amount of stamps which the govern
ment has offered for sale will have
been bought by the end Of this year
two billion dollars worth. The sales
In New York City show daily growth
and are now averaging nearly 10000
each day. Furthermore. the City Of
New York has bought H.2s6,ooo worth
OF stamps since early in December.
Patriotic wage Earners-
Perhaps the most gratifying featura
associated with this new governmen-
al object lesson In the science of saw
ing Is the demonstration which has
been made in four months Of the
willingness of the people to learn and
the cheerfulness with which they
have taken advantage OF this sppor-
tunity. Much the larger part OF the
savings which are invested in Thrift
Stamps comes from the purses OF peo-
pie Of moderate means and from
Tagearners. Those who are now ac-
gustomed to make investment of this
Kind pass the word along to their
friends and In that way the PROPOSE
ton is thoroughly advertised and the
movement is becoming very popular
However justified some of the criti-
| ctsm may be with respect to what is
alleged to be procrastination in war
preparations and however sincere the
feeling may be across the sea, that
in the year which has elapsed since
We entered the war we have not fully
met the expectations of our allies.
nevertheless there is one stupendous
achievement by the United States in
the way Of assistance which seems
often to be overlooked.
Secretary McAdoO will. IL Congress
further legislates in accordance with
his recommendations, be able to lend
to the allies $500, ,OOO, 900. including the
money already lent. Congress has
authorized g. .OOO, ,00O, 900. and Secretary
McAdoo has not hestitated to utilize
this fund so that he has already EN-
plOyed about 5000 100000 in service
Of this kind for our allies. Should
Congress authorize extension Of fur
ther credits by as much as $3.50. 900, =
900. in compliance mith the suggestion
of Secretary McAdoo. then the Secre-
tary will have available for loans to
the allies this year 8, 900, ,OOO, 900. A con-
siderable part Of this fund will be ex-
hausted by the end Of the fiscal year.
Loans U. 8. Greatest Service.
We may not have been able to fur
nish all the men that the allies hoped.
I Our shipping and our airplane prepa-
rations may. possibly. not have come
up to expectations. and the shipment
OF food and munitions may be below
the amount which was expected. But
it Is said in the financial district that,
after all, in the last year the great
est service the United States has been
able to give to the allies has been in
the form of loans. and this is a serv-
ice which will be continued. There
will be no necessity Of speeding up
machinery; there will be no demand
for labor. The people will respond
cheerfuIly to any request the govern
ment may make for loans. and 1t Is
the prevailing belief that it will not
be necessary for Congress, at least at
this session. to adopt any new and
additional tax measures.
So far as the money supplies are
concerned, therefore. our allies across
the sea can have no concern. The
United States will aid them to the
full extent OF their needs. What the
allies could have done, had this coun-
try been unable to give them financial
assistance Is, Of course, a matter Of
conjecture, but there is no doubt that
the financial aid furnished by the
United states has served greatly to
maintain and increase the efficiency
of the English and French armies and
also to be of great service to the
Italians.
Accept Plan CheerfuIIy.
z Although some Of those who are
kaders in the financial district who
have been in consultation with the
Washington authorities expected that
Secretary McAdoo's offer OF a new
Liberty loan would be in terms Of
this kind: First the aggregate amount
of the loan would be at least 5000
10000: second, the rate of interest to
be ~ per cent, nevertheless bankers
here, and, Il Is understood. all over
the country. have cheerfully accepted
the proposition which Secretary Nc
Adoo has made. The organization Of
the American bankers in support Of
this Third Liberty Loan is believed
10 be the best yet made. For that
reason It is presumed that the full
amount asked for by the Secretary.
5000, ,OOO. 900. will be subscribed easily
within the time allotted. Very likely
there will be oversubscriptions. The
impression Is general that the public
will subscribe as readily and fully as
they did to the Second Liberty loan'
for now there Is good understanding
through the entire country not only Of
the meaning which lies behind this