South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-10-20
BLOW
FALLS UPON
AUTOCRACY
America Again Proves Worthy
of Her Traditions by Accom-
pIiShing Great Task She
Undertakes.
Associated Press Service:

Associated Press Service:
WASHINGTON, oct. 19.-OveT-
subscription of the fourth Liberty
loan seemed assured tonight when
the three weeks campaign closed.
While official reports were lacking.
il appeared that again the Ameri-
can people have given to their gov
ernment not only what was asked
but more than was asked in order
that the war aainst Germany and
her allies may be carried TO a sue
cessful conclusion.
How far the total will run above
the six billion dollar goal. officials
would not attempt to estimate To-
night 1t all depends, they said on
whether big financial interests at the
last moment file the big lump sum
subscriptions expected Of them and
whether the number of smaller sub
scriptions by individuals is found 10
meet expectations.
New subscriptions entered durins
the last day and those made elfec-
tive by payment of the 10 percent
instAllment probably will amount TO
a billion and a half dollars for the
entire nation. it was said. Before
business opened this morning S4.-
599.71945O had been reported to
federal reserve banks.
Five DAYS for Final Report.
For the next fvev days banks in
every city and town in the United
states Will he busy adding up sub
scriptions. Reports and payments
then must be made TO federal re-
serve banks, which are expected TO
take at least five days more 10 re
port TO the treasury.
Indications are that the number
Of individual subscribers will far eX-
ceed 10000, 900 and break all rec
ords for distribution of war bonds
for either this nation or any other.
The honor roll of bond buyers
will include many who have not
participated in the first, second or
third Liberty loans, officials said. II
will bear the names of subjects of
other governments, neutral and bel
ligerent throughout the world. GER
mans. interned in camps in this
country and others whose sympathy
is not with their native land viii be
enrolled
Popular Loan Scheme.
A large part of the six billion dol
lars will be paid over to govern
ment account by banks through
whom subscriptions were arranged
by individuals. The individual sub
scribers then will take ten months
in which to repay the banks on the
installment plan for the bond loans.
Bonds will be delivered when the
last payment has been made. The
transaction represents the most ex-
tensive scheme Of popular lending
and borrowing through banks that
the country has ever seen.
According TO official figures avail
able tonight at the treasury only the
ST. Louis and Minneapolis districts
had exceeded their quotas, Mime
apolis having gone over today Tn
official reports credited several other
districts with having passed the 100
percent mark late today or early to-
night. however, confirmation prob
ably cannot be obtained for several
days. Indiana and New Hampshire
were two states TO achieve their
quotas today while Chicago, New
Orleans. Atlanta, Nashville. St Jo-
seph. Mo, and Pensacola, Fla, were
among the cities that went over.
Most coupon bonds Of the fourth
loan are ready for delivery now. and
registered bonds viii be available
soon.
Last Day to Exchange Nov. 9.
Holders OF the first and second
loan bonds, which bear ID and
four percent interest respectively.
have until Nov. 9 10 exchange them
al banks for bonds bearing IA
percent interest if they choose to do
50.
About sixteen billion dollars have
now been raised by the American
people in popular war loans since
the United states entered the war
and ali loans have been Over-sub-
(CONTINUED OK PAGE FOURD