Courier Democrat. (Langdon, N.D.) 1891-1920, 1918-08-22
THE LIBERTY. LOANS

The United States entered the war
On April 9th. 1917. Eighteen days
later by a practically unanimous vote
Congress passed the Liberty Loan
Bond bill.
On May End the First Liberty Loan
was announced, on May ID the details
we're made public, and on the 18th
the campaign began and closed one
month later. The issue was for
$4,000, 600, 600, the bonds bearing
Ehree and one-half per cent and rum
ming for Is 3O'years. The bonds car
ried the conversion privilege, emitting
the holder, if he chose, to convert
them into bonds of a.later issue bear
Eng a hi CHER rate Of interest. Four
and a half million subscribsre fre m
every section of the country, repre-.
seating every condition, race, and
class of citizens. subscribed for more
than So. 600, 600, 900 of the bonds.
Only So, 900, 600, COO was allotted.
The outstan ding features of the
First Liberty Loan were the prompt
ness with which it was arranged and
conducted, the patriotism of the news
papers. banks, corporations, organiza.
tions and people generally in working
for its success, and the heavy oversub.
scri ption of more than so per cent.
Another .otable feature was that there
was no interruption to the business of
the; country .occasioned by the unpre
cedented demand upon its money re.
soures.
The Second Liberty Loan campaign
-opened on October 1, 1917, and closed
on October ~. The bonds of chs issue
bear 4 per cent interest and u for
/ IO-25years. They carry the conversion
privilege. 1t was announced that:5o,per
cent t, Of the oyersubscription would be
taken. Nine million asubscribers sub.
sse:fiiibed to 81. GIT, Ss2, 600 Of the
.haonds,, ali oversubscription Of 81 Der
sent: Only $751; sos, 766. $50. Of The
bonds Was ALLOTTED. -:
This campaign was marked. with
the same enthusiastic support of@thss
Fhaahabaiie DO IT'S predecessor. The labor
lAud::fsat4efnslyp reanisdtiot,s WERE essts
i wsieetciiaslay active in thiss eampaigai. land
ths ak~onnensefsth country did efficient
:prgxnized work which greatly. contri.
!huted; to the, success Of the loan. Tho
men in the army and navy worked for
.Apd anbcribed largely to the loan.
d, :zVha Third Liberty Loan campaign
.:upened on April 9Th. 1918. one year
szacty. after our entrance iLt, the
NJ and closed on May 4th. The bonds
of thia issue bear four and .one.half
ms,Ar cent interest and run. for 10 years,
: aresEut A,bject to redemption prior
: TO maturity, and carry no conversion
: privilege, The aoan was announced
! Cor So. 600, coo, GOO. but the right
ywas reserved=to accept all additional
; Subscriptions. Seventeen million SUBJ
scrdhers Subscribed for Sd, ITO, 019,.
$3.50 of which was allotted.
"a great feature Of this loan was
ct 8 very wide distribution among the
peaqge and throughout the Union and
the tact that the country districts
promptly and heavily subscribed to
the loan, in a great measure making
up their quotas earlier than the cities.
Secretary McAdoo pronounced this
Eoan the soundest of national financing.
AfIittle over a year ago there was
@sssne 100000 United States bond
aelde rs there, are now somewhere be
tween 20, 600, 600, and rs, 600. 600
Awakened patriotism has made the
American people a saving people,
bond buying people The effect q
the Liberty Loans on the nationa
character, in our national life, on tn
individual citizen aud our home life
immeasurable-of in%calculable bene
fit. Not less i~ncalculable their effec
on the destiny of the world as GU
ships pillow the seas and our men AM
material in Europe beat back tn
Hun.
All male nersona who have attain