The Greeneville daily sun. (Greeneville, Tenn.) 1918-1920, 1918-09-10
THE LIBERTY LOAN.

on Aprll ., 1871. Elghteen days
later by practically unanimous vote
congress passed the Liberty Loan
Bond bill.
On May 2 the First Liberty Loan
was announced, on May IA the de-
tails were made public, and on the
18th the campaign began and closed
one month later. The issue was for
S2,OO0,O00,O00, the bonds bearing
i 81 per cent interest and running for
1880 years. The bonds carried the
conversion privilege, emitting the
holder, if he chose, to convert them
into bonds Of a later issue bearing
higher rate of interest. Four and
half million subscribers from every
section of the country, representing
every condition, race, and class of
citizens, subscribed for more than
$3,OOO,OO0,O0O Of the bonds. Only
$4,000, 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 news
papers, banks, corporations, organi-
cations and people generally in work
ing for its success, and the heavy
oversubscription of more than fifty
per cent. Another notable feature
was that there was no interruption to
the business Of the country occa-
stoned by the unprecedented demand
upon its money resources.
The Second Liberty Loan cam
paign opened on October 1, 1917,
and closed on October q. The bonds
of this issue gear A per cent interest
and run for 1925 years. They carry
the conversion privilege. 1t was an
nounced that fifty per cent of the
oversubscription would be taken.
Nine million subscribers subscribed
to $4,617,532,O00 of the bonds, an
oversubscription of 81 per cent, Only
SO, 1903, 766,1OO of the bonds were
allotted.
This campaign was marked with
the same enthusiastic support of the
public as its predecessor. The labor
and fraternal organizations were es-
pecially 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
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 A. The
bonds of this issue bear Az per cent
and run for ten years, are not sub
ject to redemption prior to maturity
and carry no conversion privilege.
The loan was announced for $3,000,-
600 900, but the right was reserved
to accept all additional subscriptions.
Seventeen million subscribers sub
scribed for $4,17O,019,65O of the
bonds, all Of which was allotted.
A great feature of this loan was
its very wide distribution among the
people and throughout the union and
the fact that the country districts
promptly and heavily subscribed to
the loan, in a great measure making
up their quotas earlier than the cit
les. Secretary McAdoo pronounced
his loan the soundest of national
financing.
A little over a year ago there were
some 100000 United States bond
holders; there are now somewhere
between 2O,OOO,OOO and 25,O00,OOO.
Awakened patriotism has made the
American people saving people,
bond-buying people. The effect of
| the Liberty Loans on the national
character, on our national life, on
the individual citizen and our home
life is immeasurable-of incalculable
benefit. Not less incalculable is their
effect on the destiny Of the world as
our ships pillow the seas and our men
and material in Europe beat back
the Hun.
The Fourth Liberty Loan campaign
will begin Saturday, September 20,
and close October 10. No American
doubts its success; no good American
will fail to contribute to its success.
/ The blood of our men fallen in Eu-
rope calls to US; our answer must
be and will be worthy of them and
our country.
NOTICE.
Having bought the Busy Bee Res