The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1918-01-10

~ OAAC AS~ HXH0 MAUSO
the Government protect the face value
Of the Liberty Loan bonds.
Kings Of finance have become SO
used to things as they have been
they look upon Wall Street az the law
and the prophets.
And the timid souls who "me too"
everything the fianciers say are de-
claring that il is beyond the power Of
this Government to stop Wall Street
fluctuations ii these bonds.
they gurgle that everything is al
right as it is. They. say, that sense
less agitation 81 the part Of The Bee
will do more harm than good-that
it would menace the banks with dis
aster should the government main
tain these bonds at par by requiring
National banks to take them.
All these objections were enumera-
ted in the Bees editorial Of Novem-
Der goth.
However plausible any of them may
sound, however valid one Or two Of
them may be, this fact remains:
The United States has the power
to maintain her faith with her people,;
and that faith was distinctly pledged
to each subscriber that. his Liberty
Bond could be converted. into cash at
a moments notice. h s., s5
II is silly even, to insinuate that
a Nation which has accomplished all
this Nation has wrought Nation
Of over 1OO,O0O,OO0 freemen-must
bow down In humble submission while
Wall Street not only robs her sons
and daughters, but makes the Nation
herself out Of q liar.
Wherein would that. lie consist?
In this: That, in allowing unscrupu-
lous spectators to run down the
value Of Liberty Loan bonds to SO and
even 81 cents on the dollar, in admit
ting she cannot help it, and in refus-
ing to provide any method to cash
those bonds at par before maturity
if q holder needed the money, this
Nation repudiates her own pledge. her
own faith, her own sacred word as
guaranteed by her Secretary Of the
Treasury, W. G. McAdoo.
Listen to the promise of the Unit
ed States as voiced all over the land
through her accredited representative
and mouthpiece, w. G. McAdoo:
People look at the bonds like stock.
They think they are speculation.
Any bond in this issue can be con-
verted into cash in an hours notice.
It is better than cash because it is
free from taxation and bears interest
at 4 per cent. :.
And yet, when this pledge was brot
to the attention Of a prominent fin
ancier, he said that certainly the
United States had promised to pay
but that she had not said how much
cash she would pay!
What rot!
Such an answer is worse n
none.
A father needing ready money goes
to his sons and daughters and bor-
rows a thousand dollars on his notes,
saving: "Now, my children, I can
give you back this money when any
Of you want it. It is as cash, and
even better, for / will pay you inter-
est on it."
One Of the offsprings some months
after says: "Well, father, l need the
money that I loaned you, kindly let
me have it."
Would that father tell the son he
could 20 to the bank and get ~
cents on the dollar for that note!
And if that son reminded the faith
! that he had promised to pay cash
whenever it was needed, would that
parent say: eyes, my son, but l
did-'t saw how much cash, did II"
Uncle Sam is q father to all his
children. His solemn obligation, his
deliberate promise, his sacred word
was pledged that all these Liberty
Loan bonds would be free from spec
ulative juggling.
Nothing less can be deducted from
the language Of the Secretary of the
Treasurer McAdoo who represented
the Administration.
Il is q libel and q SANDER and q
lie upon the people to say that faith,
that pledge, that promise, that sac
red word cannot be kept.
II is an insult to over 100 100000.
American citizens to even suggest,
let alone admit that q Govern n
that has done all it has done; that
has performed the wonders It has
performed, cannot stop Wall Street
from Juggling. in these bonds and
cannot make such provisions that its
faith will be kept.
Il is no secret throughout the
length and breadth Of the United
states that the Federal Reserve banks J
would have, bought these bonds and
would have pushed them through with
their. surprises, Il the people had
not come through>so generously and
Is unitcdly to the rescue.
IA Government that has that stat
wart reinforcement IN the back
ground cerfainlyleould keep its faith
ksnd 10 pledaa ne that it, loyal
sons and IN loya daughters are not
swindlsd u male hffher swollen pro