The Sentinel=record. (Hot Springs, Ark.) 1900-current, 1918-09-25
new YORK DISTRICT is
allotted so PER CENT
Special Appeal for the Subscriptions Of
Corporations and Wealthy lndividu-
ais is Made-only 22,5oo, Including
Corporations, Bought Bonds in Ex-
cess of $4,000 of the Last Loan.

New York, Sept 2i--Six billion
dollars is the minimum amount which
the people OF the United States are
asked to subscribe for the fourth Lib
erty loan, according to an announce
ment by William c. McAdoo, secre-
tary of the treasury, in a stirring ad-
dress here tonight outlining the gov
ernments plan for the campaign y hich
starts Saturday.
The share allotted to this federal re-
serve district is $500 100000 or 30
per cent Of the greatest loan yet Of
, fered. The loan which will bear 4 IL
per cent will run for 20 years, ma
turing October Is, 1888, unless the
government should exercise its re-
served rights to redeem the bonds on
and after October 10, 1888.
Asserting that without this vast sum
1--WE cannot lick the kaiser" the sec
retary made a special appeal for the
subscriptions of corporations and
wealthy individuals as returns from
the third Liberty loan indicated that
wealthy corporations and persons of
large means had not responded com
snensurately with their abilstes 30
helDs
lie pointed out that of the 1900. 900
Americans who subscribed for the last
loan, only 22,500 including corpora
tiOns, bought bonds in excess OF $10,-
000.
1T would be preposterous," he SAID,
"to say that there were only 22,500
men, women and corporations IN
America able 10 lend more than $40
600 each TO their government in Lib,
erty bonds"
Mr.. McAdoo also condemned thel
practice of "swindlers and unserupu-l
lous and unpatriotic people who coh-
trary to the urgent request of th2I
treasury department had induccdI
holders Of liberty bonds to exchangel
them for stocks or investments off
doubtful value"
He pointed out that these operations
forced the treasury to buy the bondsl
thus thrown upon the market, in or
der to protect the market and thel
credit OF the government.
THUS the treasury's available re-
sources from the loan" he declared.
are depleted ana forced in unworthy
channels, often times in wildcat enter
prises to the injury of the American
people and to the detriment of tneI
war. We must create a healthy pub
lie opinion which will reprehend such
practices. Nv emust provide the ma
chnery and the means through which
those who have to sell their bonds may
do so and get the highest possible price
for TEN, while at the same time pro-
tecting the innocent investor
Applauded by the crowd which filled
Carnegie Hall, Mr.. McAdoo said IN
part:
The huge amounts 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
the American people.
"We are building a great merchant
marine Upon completion it will be the
largest, most efficient and modern
merchant fleet in the world. The
wharfs and terminal facilities we are
constructing in America for the ac-
commodation of this merchant marine
, are an essential part of it. Our COM
merce after the war will be facilitated
by these great national undertakings
and the money used for these purposes
is an investment /of immeasurable
/ value to the American people. The
loans to the allied governments are
] represented by obligations of great