The Bridgeport times and evening farmer., 1918-08-23
THE LIBERTY LOAN

The United States entered the war on April 6, 1917. Eighteen days lat CT by practically unanimous vote Congress passed the Liberty Loan bill.
 On May 2 the First Liberty Loan was announced. on May 14 the details were made public, and on the 18th the campaign began anad closed one month later. The issue was for 3D. 0OO, ,0OO, 900, the bonds bearing 1-2 per cent. interest and running for 15- 30 years. The bonds carried the con- version privilege, entitling the hold CT, if he chose to convert them into bonds of a later issue bearing higher rate of interest. Four and a half million subscribers from every sec tion of the country, representing ev- cry condition, race, and class of citi- zens,. subscribed for more than $3,- 000, 100000 of the bonds. Only $2, 000, 100000 was allotted.
 The outstanding features of the First Liberty Loan were the prompt ness with which it was arranged and conducted, the patriotism of the newspapers, banks, corporations, or ganizations and people generally in working for it's success, and the heavy over-subscription of more that 50 per cent. of the oversubscrip- feature was that there was no inter- ruption to the business of the coun- | try oecasioned by the unprecedented | demand upon its money resources. The Second Liberty Loan campaign opened on October 1. 1917, and clos l ed on October 27. The bonds of this | issue bear 4 per cent interest and run | for 1925 years. They carry the con- | version privilege. It was announced that 50 per cent of the oversubscrip- tion would be taken. Nine million subscribers subscribed to S4,617,532,- 900 of the bonds, an oversubscription of 54 per cent. Only $3,8OS, ,766,15O of | the bonds was allotted.
 This campaign was marked with | the same enthusiastic support of the public as it's predecessor. The labor and fraternal organizations were es- | peciaIly active in this campaign, 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 work | ed for and subscribed largely to the hloan.
 The Third Liberty Loan campaign i opened on April 6, 1918, one year ex- actly after our entrance into the war and closed on May 4. The bonds ot this issue bear 4 1-4 per cent inter- est and run for 10 years, are not sub ject to redemption prior to maturity and carry no conversion privilege The loan was announced for $3.000.- 100000, but the right was reserved to accept all additional subscriptions Seventeen million subscribers sub scribed for $4,170,O19,650 of the bonds, all of which was allotted.
 A great feature of this loan was it's very wide distribution among the people and throughout the Union ant the fact that the country districts promptly and heavily subscribed tc | the loan, in a grC at measure making up their quotas earlier than the cit | les. Secretary McAdoo pronounced this loan the soundest of national fl nancing.
 A little over year ago there wa! some 300,000 United States bondhold CTS; there are now somewhere be tween 20,000,000 and 25,00O, 900
 
 Awakened patriotism has made tn, American people a saving people, bondbuying people. The effect o the Liberty Loans on the nationa character, on our national life, on tn individual citizen anad our home Tiff is immeasurable- incalculable ben eft. Not less incalcula ble is their eff feet on the destiny of the world a oIlr ShiDS DIow the seas and ol1r mel and material in Europe beat back tn Hun.
 The Fourth Liberty Loan campaign will begin Saturday. September 28 and close October 19. No American : doubts its success; no good America will fail to contribute to it's success , The blood of our men fallen in Flu rope calls to us; our answer must b and will be worthy of them and ou country.