The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1918-04-09

our share of ito have enough of
our share of 1t on hand to liquidate
the particular portion Of 1t that hangs
directly over the home, the store, the
factory, the savings account.
1t is the only safe business policy
to pursue.
And 1t is good business policy to,
like the man quotedf write your part
of the obligation down If you can, and
fortify yourself further by taking a
piece of the general and universal
mortgage for investment.
have never heard a better or a
clearer cut statement of what the in
dividual attitude to the country's war
loans ought to be.
Aside from patriotic instincts no
property owner or investor can af-
ford, on pure business grounds, to let
the other fellow hold the mortgage
that is hanging over his home, his
business, his accumulations of what
ever nature. They are all under these
Liberty bonds.
When my friend took the extreme
measure of writing off his END of it,
he but foresaw what was bound to
happen and what has since happened
the depreciation of every other
class of security and investment, the
shrinkage of the buying power of the
dollar the mounting costs of the ex-
pense accounts in the matters of liv-
ing and of doing business. We went
tao the core of it and at the original
source wrote off the price on his
bonds.
You and | sat by and saw our
"other stuff shrink and shrivel in
value. Because we did not write
down our investments they took the
inevitable course and wrote them
selves down. Before these loans they
were clear. Now they are under and
subject to" the general mortgage, the
universal and unacceptable obligation
The income from everything we have
or will have is taxed and the principal
stands as securiay for and guarantor
of the country's debt,
When we look at the resistless
power of it we realize better that
there is only one thing to do. Gel
out from under and get into the. clear
1 by getting hold of as much of this
all-powerful and all-ocmprehensivt
security as will clear your end of it
And hang on to it for your own pro
lection because this overhang Is 60.
ing to be bigger and more burden.
some before 1t is smaller.
The writer has been asked almost
daily the past year for his opinion al
to what particular class of industrial
or other corporation security Il
would be best to own in anticipation
of coming peace.
l don't know and don't think any
many living knows
What ! do know Is that this coun
try will survive and that the surviv
ors will pay these Liberty bonds, in
terest and principal.
Every survivor, his and her heir!
and assigns, the five hundred million,
of people that will ultimately inhabi
this land; every unmined ton of irol
ore, of copper, of lead, zinc, gold ant
, silver; every crop harvested by thi
and every generation to come; tn,
, fruits of the labor of the Industries
, the economies to be effected by tn,
, inventive genius of the ages to come
! the achievements of the arts AM
sciences all down the centuries as we
. unborn; these are all pledged unde
! the present day Liberty bonds.
When Great Britain and the Unitet
: States first discussed the pacing of ;
, British loan here, the English bank
ers we're nonplussed at the American
demand for collateral
Collateral had become a business
habit in this country. 1t went bette
in the markets than anything else
England wondered. She offered tn,
credit of her whole people. We aske,
only a part.
We in this country had little prio
experience with the higher credits
But we are learning the lesson fast
The pledge Of all the people Of thel
all, stands so far above any guarante,
Of any fragmentary part thereof II
the form OF corporate security that |
is really too bad to set up the com
parlson