Mansfield mirror. (Mansfield, Wright County, Mo.) 1908-1957, 1918-01-31
PAYING A DOLLAR hi.
A week FOR WAR
Subscriptions Made Under Partial Pay.
ment Plan Played important Part
In Success Of Liberty Loan-hoW
System Could Be Improved.

An Investigation recently completed
byJOhn Muir shows that subscriptions
under the partial payment plan play
ed al important part In the success
OF both OF the recent Liberty Loans
and indicates that this method Of pay
ing the expenses Of the war out O
current earnings will have an ever
more important role to play in the
case Of the present loan. Reports re
ceived from nearly q thousand large
corporations and firms show that more
than 100000 employees bought the
bonds on the instalment plan, AZ per
cent Of them subscribing through their
employers.
LJmmenting on the result Of his in
Wstigation, Mr.. Muir said: Consider.
uis the fact that many corporations
u p,rted that the Liberty Loan cam.
paign was so hurried and their oppor'
tupity to understand the situation and
interest employees limited by time.
there is little doubt that. with the
proper intensive campaign prepared
for the next loan, a showing Of 100
per cent better can be made. Tl0u.
sands Of large employers Of labor
throughout the country did no. make
any effort to interest employees In the
Liberty Loan because of the shortness
of the campaign. With proper direc-
ton the next loan can Cover the whole
field of labor throughout the country.
and the returns would indicate that it
will be possible to raise a very large
part of the three billion dollars, which
1t Is supposed will be required, on the
partial payment plan.
Work Of floating the loans Of the
future could be greatly aided in so far
as partial payment participation is cor
cerned by working out In advance a
programme which would distribute
semi-ofhcial forms designed to meet
the various needs and by drawing up
a time table Of partial payment am
paign activities to be followed through
out the country. For instance, one
day could be set aside for advance
notice that the company or firm would
offer a partial payment plan, another
day for competent speakers to discuss
the advantages of government bonds,
leading up to a climax when subscrip.
tions would be taken. All Of this
should be prepared in advance. Many
large corporations reported to me that
they did not put forward any partial
payment plan in connection with the
Liberty Loan. They all would II prop
erly canvassed and equipped with
proper literature and forms.
with the intensive method project.
ed into all other big and small corpo.
rations and a programme worked out
in advance. there is no reason to doubt
that a somewhat similar result will be
Appropriated all over the country.
"If the par'i"' payment programme
had been carr II with only average
intensity by the bethlehem Steel Com.
pany. the large number Of foreigners
employed would have made 1t probable
that only rs per cent Of employees
would have subscribed.
"Circulars printed In the various
foreign languages and speeches made
In foreign languages accomplished this
remarkable result. Can 1t be doubted
that in the case Of many offices and
plants where a majority of employees
are American that almost 100 per cent
is possible with sufficient enthusiastic
work?
Position Of Savings Banks.
II have been in communication with
hundreds of corporation and banking
heads On the subject of the rate of in
terest. There is great diversity Of
opinion among them and many advo-
Gates of a higher rate Of interest. but
the consensus of opinion among the
small savings bank people seems to be
that a rate Of interest allowed on gov
eminent bonds higher or as high as
the average rate of interest allowed on
savings bank deposits would result in
great disturbance in the investment
markets and result also In that dis
turbance in general financial condi.
lions which we are all anxious to avoid.
Among large employers Of labor all
the country there Is a preponder-
ance Of opinion that while employees
were enthusiastic there was a general
inclination to purchase on the partial
payment plan the smallest denomina.
ton which was available"