Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-10-18
Two Days in Which to Prove Loyalty

wv It'll only two days remaining in which
w to carry the fourth Liberty loan to sue
cess, the people must not fail to meet the
acid test of their patriotism, called upon to
back the efforts of their brave sS&diers in the
hour when victory, complete and crushing, is
within their grasp. Only about two-thirds
OF the loan has SO far been taken, leaving
the sum of $4,000, 900, 900 to be raised to-
day and tomorrow. The government must
have the full S6,000,000,00O to make victory
certain, and for the American people to fall
short Of raising the amount would be "a. re-
Election OH their patriotism, the sham5 of
which would cling TO them for all time to
come.
Richmond has completed its minimum
quota, but the State and district are both
far behind, only about 60 per cent OF their
quotas having been reported The time is
short, but if the people Of the city State
and district have the spirit they will take care
of the full amount allotted to them before
Saturday midnight The President has
evinced his faith in the pledge Of the people
to support the conflict to a successful termi-
nation with all of their resources, and he
has just answered Germanys plea for peace
with firm demands which mean the complete
destruction Of her power to wage war in the
future, and in his latest appeal to the coun-
try to support the loan he warns that ''ro-
taxation now, hesitation now, would mean de-
feat when victory seems to be in Sight; would
mean years of war instead of peace upon our
own terms" Under this stirring appeal, it
is Uncomfortable that the people OF Virginia
will not rally in united last great effort
TO go over the top" with their part Of the
loan, with full faith that other sections Of
the country will do the same
With the willing individual it is not a
question Of having the cash to pay for the
bonds. The banks urging you to go the
limit III subscribing for them, and they. will
go the limit with YOU Your credit is good
at any bank for all the bonds you think you
can pay for in the future. All that you have
to do is to go TO your bank and it will lend
you against the bonds the money to pay for
them at the rate of interest they bear for
ninety days and then give you three renewals
OF your note, Il year i'll all, at IL rate of one
half OF per cent i'll excess of the Federal
reserve bank rate. This enables you to use
your next years savings in paying off the
loan, and at the same time the bond in
tercst takes care of the loan interest for the
hrst three months, as well &C.. that Of the
other nine months of the yea. A1ept a frac-
ton Of less than per cent. Thus by au-
ticipating your earnings and buying the
bonds with your credit, you enable the banks
TO advance the money the government must
have to prosecute the war to success without
depicting their lawful reserves, for the loan
made to you by the banks creates money in
the form of new Federal reserve notes The
hank takes your note to the Federal reserve
bank for rcdiscount. and Federal reserve
notes are issued to it, which it either turns
over TO the government in payment for the
bond you have subscribed for, or places 10
the credit OF the government in its deposit
account. which is the same thing
Under the favorable terms thus offered no
one who claims spark of patriotism can
find valid excuse for not buying bonds to the
limit of his credit based on his anticipated
future earnings The bonds are the best Sc
curity in the world, having behind them all
the wealth of the United States. Although
the time is short, Virginias quota must be
met; it will be met, for Virginia's patriotism
has never yet failed when put to the test