Deming graphic. (Deming, N.M.) 1903-1948, 1918-08-16
The Liberty Loans

uh ApIll W. ldli, Elkhtceh udlS
later by a practically unanimous
vote Congress passed the Liberty
Loan Bond bill.
On May , the First Liberty Loan
was announced, ON May Ii the de-
tails were made public, aud on the
10th the campaign began and closed
one month later. The issue was for
s., 900, 900, 000 the bonds bearing
3 - per cent interest and running
for 1870 years. The bonds carried
the conversion privilege, emitting the
holder If he chose, to convert them
into bonds of later issue bearing
a higher rate of interest. Four and
a half million subscribers from every
section of the country, representing
every condition, race, and class Of
citizens, subscribed for more than
f3 Goa, 900 600 of the bonds. Only
~, 900 O00,0 200 was allotted.
The outstanding features of the
FIRST Liberty Loan were the prompt
ness with which 1t vas arranged and
conducted, the patriotism of the
newspapers, banks, corporations, or
carnations, and people generally in
working for its success, and the
heavy oversubscription of more than
20 ~ cent. Another notable feature
was that there was no interruption
to the business of the country oc-
casioned by the unprecedented de-
mand upon its money resources.
The Second Liberty Loan cam
paign opened on October l, 1917, and
closed on October q. The bonds of
this issue bear 4 per cent interest
and run for 1925 years. Il was an
nounced that 80 per cent of the over
subscription would be taken. Nine
million subscribers subscribed to
S4,6l7532, 900 of the bonds, an over
subscription of "a per cent. Only
! S3,sOs, 100 $50 of the bonds was al
lotted.
This campain was marked with
the same enthusiastic support of the
public as its predecessor. The labor
and fraternal ordinations were es-
pecially active in this campain, and
the women of the country did eff
cient organized work which greatly
contributed to the success of the
loan The men in the Army and
Navy worked for and subscribed
largely to the loan.
The third Liberty Loan campaign
opened on April 6, 1918, one year
exactly after our entrance into the
war, and closed on May 4. The bonds
of this issue bear IA per cent in
terest and run for 10 years, are moi
subject TO redemption prior to matur'
ity, and carry no conversion priv
} lege. The loan was announced FOL
SO, 600 900, 900, but the right was re-
served to accept all additional sub
script.ons. Seventeen million sub
scribers subscribed for $4,l10,0l9,
ESQ of the bonds, all Of which wa
allotted
A great feature of this loan wa
: lis very wide distribution among thu
! people and throughout the Union ant
I the fact that the country districts
promptly and heavily subscribed t.
the loan, in a great measure makinl
, up their quotas earlier than tn
cities. Secretary McAdoo pronounced
this loan the soundest of nationa
financing.
A little over year ago there wa
some 100000 United States bond
J holders; there are now somewher
between 2O,OOO,OOO and 25,OOO,OOO
Awakened patriotism has Wade tn
American people a saving people,
bond buying people. The effect o
the Liberty Loans on the nationa
, character, on our national life, Of
, the individual citizen and our hom
life l. immeasurable-of incalcul
able benefit. Not less incaleulabl
is their effect on the destiny Of tn
world as our ships pillow the seas an'
our men and material in Europe bea
back the Hun.
The Fourth Liberty Loan cam
paign will begin Saturday, Septembe
rs, and close October 10 No Amer
lean doubts its success; no goo'
American will fail to contribute L
lis success. The blood Of our mel
fallen in Europe calls to us; GU
answer must be and will be worth
I q -. -. ..,trt,.r~