Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-10-12
Washington, ID. C., Oct. 12.


livery loyal Pennsylvania down here
~ is expecting to see the Philadelphia
district "go over the top" with the fourth
Liberty Loan. 1t is big task and was
known to be when the Secretary or the
Treasury announced the size OF the loaf-
and the amount he expected Philadelphia
to raise. The efforts being put forth by
E, Pusey Passmore and those associated
with him in the Federal Reserve system
will need the support of the citizens gen.
erally, and especially will it be necessary
for the good ladies' who have formed COM
mittees to further the loan to continue
INCREASINGLY in the work. Philadelphia has
too good and patriotic record in all mat
ters of this kiId to fall back. Suffer as
it may from the handicap of Director hru-
sens epidemic influenza" the Philadelphia
district, like all other districts, ran slower
than was the case with the third Liberty
Loan. To a certain extent that was
to be expected. The Third Loan did
not have to combat the uncertainty OF an
$4,000 900 900 revenue measure; and Secre-
tary McAdoo entered upon his biggest
loan venture knowing better than any
other man, perhaps. just what kind OF
fight was ahead of him. He sought the
early passage of the tax bill, hoping 1t
might be out of the way before the
launching of the fourth loan, but con-
press was not satisfied with that bill and
will not be, in all probability, until after
election. And it may be just as well, so
far as the loan is concerned, because OF
the heavy demands it will make upor. the
tax.paying public; which. by the way. Is
also the bond-buying public. No matter
what we may think OF the future, or of
the methods of expending public money,
or of the possibilities of peace, the Govern
ment has obligated itself for all the money
that will be raised by this loan and by the
revenue bill, too, and much more Will nave
to be raised These obligations must be
met. BY the end of June next they VIII
represent war expenditure OF $S6,o0o,-
OoO, 900, plus about $7,00o,o00,oo0 provided
for in the deficiency bill. This grand
total includes the approximate 100000
900 900 loaned TO our Allies, but 1t proves
up the necessity of putting two bonds
aside for every one that was purchased
during the third loan drive. When we
remember that buying Liberty Bonds is
easier and safer than goiLg into the
trenches, and that 1t not only protects us
as a nation, but provides good invest
ment for the holder there is some 1ustifi-
cation for the tendency to criticize those
who, having money to buy. neglect to do
so. But former Governor Stuart, who has
been helping out on the speechmaking, and
who geLerally has his ear to the ground,
tells us philadelphia is all right; and we
shall not doubt 1t.
THERE is substantial ground for back
L ing up Director Webster, of the Depart
ment Of Wharves. Docks and Ferries. in
urging increased shipments from the port
of Philadelphia. Baltimore and Boston are
doing an increased amount of war ship
ping and Philadelphia could do much more,
Mayor Peters. of Boston. recently an
nounced that his city would obtain and
hold until the end OF the war no less than
10 per cent Of the war shipping. Mean
while Albany. which Is farther up the Hud-
son River than Philadelphia Is on the Della
ware, Is demanding direct outlet to the
sea. and insists that her Industrial output
justinss II; oovernmsnt operation Of the