The Lancaster news. [volume] (Lancaster, S.C.) 1905-current, 1918-09-27
Secretary McAdOO Outlines the
Governments Plan of Com
Campaign.
BONDS RUN FOR 20 YEARS
Everybody Should Buy"-The
Money is Needed to Enable
Pershing's Army to Elimin-
ate the Rhine.

New York. Sept. 26.-Six billion
dollars is the minimum amount which
people of the United States are ask
ed to subscribe for the fourth liberty
loan, according to an announcement
by William G. McAdoo, secretary of
the treasury, in a stirring address
here outlining the governments plan
for the campaign, which starts Sat-
urday.
The share allotted to New York
federal reserve district is $780,
900, 900, or 80 per cent of the great
est loan yet offered. The loan, which
Will bear four and one-fourth per
cent interest, will run for 20 years,
maturing October 15, 1898, unless
the government should exercise its
reserved -!gh: - redeem: the bonds
on or after October 15. 1888.
Asserting that. without this vast
sum, I'VE cannot lick the kaiser" the
secretary made a special appeal for
the subscriptions of corporations and
wealthy individuals, as returns from
the third liberty loan indicated that
wealthy corporations and persons of
large means had not responded
"commensurately with their abilities
to help" He pointed out that of the
1s,000.000 Americans who subscrib-
ed for the last loan, only 22,5OO. in
cluding corporations, bought bonds
in excess Of 10000.
'It would be preposterous." he
said. Ito say that there are only 22.-
800 men, women and corporations in
America able to lend more than S1O,-
600 each to their government in lib
erty bonds"
SwindIcrs Are Denounced.
Mr.. McAdoo also condemned the
practice of "swindlers and unscrupu-
ious and unpatriotic people, who. con
trary to the urgent request of the
treasury department. had induced
holders Of liberty bonds to exchange
them for stocks or investments Of
duhDtfuI varuc..- ITO roi,t.. <,,.
these operations forced the treasury
to buy the bonds thus thrown upon
the market. in order to protect the
market and the credit OF the gov
ernment
Applauded by crowd which filed
Carnegie hall. MIR. McAdoo said in
part:
THE treasury of the United States
asks the American people to sub
scribe to the fourth liberty loan So
OOO.OOO.O0O. This money is needed
TO carry on the war. We cannot lick
the kaiser without 1t. We cannot re-
store peace to the world and re-estab-
lish liberty and democracy without
it.
The huge amounts expended by
America in this war are not wholly
used for destructive purposes. Great
sums are used for constructive work
which will be OF permanent value to
the American people"
The great merchant marine which.
ne said, on completion, will be the
largest. most efficient and modern
merchant fleet in the world, was cited
as one constructive use to which
liberty loan money will be put. "For
the fiscal year, 1919" he said "it ia
probable that $S,00O.OO to
$9'oOO,o00.OO0 will represent loans
TO the allied governments and ex-
penditures for ships, shipyards.
docks. wharves and other facjIitioo
which will be salvaged to the Ameri-
can people,"
All Must Buy Bonds.
Asserting that Everybody should
buy bonds" Mr.. McAdoo continual
Wages and salaries are, higher in
America today than ever before In. its