Douglas Island news., 1918-08-23
ANOTHER LOAN
 IN ABOUT MONTH
History of the Loans That Have Been Floated and Announce
 ment of the Fourth

on April G. l9l7 Eighteen days later by a practically unanimous vote congress passed the Liberty Loan Bond bin.
 On May 9 Che First Liberty Loan was announced. on May l4 the de- tails were made public, and on theI 10th the campaign began and closed one month later Tho issue was for $sOOO, O,OOO.OOO. the bonds bearing 3ls per cent interest and running for i5-3O years. Tho bonds carried Che conversion privilege, enutling| the holder. if he chose Co convert them into bonds of a later issue bear Ing a higher rate of interest. Four and half million subscribers from every section Of the country. repre- sontng ovory condition, race and class or citizens, subscribed for more than S3.OOO.OOO OOO of thc bonds. Only $2.OOO.OOO.OOO was allotted.
 The outstanding features Of tho First Liberty Loan were Che prompt ness with which it was arranged and conducted the patriotism of the newspapers, banks, corporations .or- ganizatlons and people generally in working for its success, and the heavy ovcrsubscription of more than 5O DOT cent. Another notable fca- uro was that there was no inter lruption Co Che business of the coun- try accustomed by tho unprecedented demand upon its money resources.
 The Second Liberty Loan cam paign opened on October 1, l917 and closed on October 27. The bonds of this issue bear { per cent interest and run for iO-2J years. They carry thc conversion privilege. lt was an- nounccd that 90 per cent of the oversubscrlptIon would be taken. Nine million subscribers subscribed to $4.G17,532.OOO of tho bonds, an ovcrsubscriptlon of 54 per cent. Only S3.SOS.7GG.15O Of Che bonds was allotted.
 This campaign was marked with tho same enthusiastic support Of the public as its predecessor The labor and rratcrnal organizations were es- pcclally active In this campaign, and the women of the country did ef- ncicut organized work which greatly contributed Co tho success of the loan. Tho men In Che army and navy worked for and subscribed largely Co Che loan
 The Third Liberty Loan campaign opened on April G, 1918, one year exactly after our entrance into the war. and closed on May (. The bonds Of this issue bear 4ii per cent inter est and run for 10 years, are not subject Co redemption prior to ma turity. and carry no conversion priv lloge The loan was announced for S3.OOO.OOO.OOO. but thc right was reserved Co accept an additional subscriptions. Seventeen million subscribers subscribed for Si17O,- O19.C5O of the bonds. an Of which was allotted
 A great feature of this loan was lts very wide distribution among Che people and throughout the Union and the fact that thc country dis tricts promptly and heavily sub- scribcd Co the loan. in a great meas urc making up their quotas earlier than the cities. Secretary McAdoo pronounced this loan tho soundost Of national financing
 A little over a year ago there was some 3OO.OOO United States bond holders: there are now somewhere between 2O.OOO.OOO and 25,OOO,OOO. Awakened patriotism has made the American people saving people, a bond-buying people. The effect of the Liberty Loans on the national character. on our national life, on the individual citizen and our homo life is immoasurable-of ncol- culablc benefit. Not less incaculable is their effect on the destiny of the world as our ships blow the seas and our men and material in Europe beat back the Hun.
 Tho Fourth Liberty Loan cam palgn will begin Saturday. soptcm- ber 2S, and close October 70. No American doubts its success; mo good American win fail to contribute to lts success. Tho blood of our mon fallen i'm Europe calls to us; our answer must be and will bc worthy ,f th.f,, oud ,ttr country