Five Mile Beach weekly journal., 1918-08-23
Fourth Will Begin Saturday, September

The United States entered the war on April 6, 1917.
Eighteen days later by a practically unanimous vote
Congress passed the Liberty Loan Bond bill
On May 2 the First Liberty Loan was announced,
on May IA the details were made public and on the 18th
the campaign began and closed one month later. The
issue was for S. $4,000, 100000, the bonds bearing 31-2
per cent interest and running for 1880 years. The bonds
carried the conversion privilege, emitting the holder, It he
chose, to convert them into bonds Of a later issue bearing
a higher rate Of interest Four and a half million sub
scribers from every section OF the country, representing
every condition, race, and class Of citizens, subscrlbed tor
more than S., 600, 100000 of the bonds. Only
$2,OOOOOOOOO was allotted.
The outstanding features Of the First Liberty Loan
were the promptness with which 1t was arranged and
conducted, the patriotism Of the newspapers, banks, cor
porations, organizations, and people generally IN working
for its success, and the heavy over-subscr1phon OF more
than fifty per cent. Another notable feature was that
there was no interruption to the business OF the country
occasioned by the unprecedented demand upon It's
money resources.
The Second Liberty Loan campaign opened on o.
tober /, 1917, and closed October 81. The bonds Of this
issue bear 4 per cent interest and run for 1925 years;
They carry the conversion privilege. 1t was announced
that fifty per cent Of the oversubscr1ption would be taken:
Nine million subscribers subscribed to $4y617,532OOO Of
the bonds, an oversubscripton Of 81 per cent Only
49, O8, 76615O Of the bonds was allotted.
This campaign was marked with the same enthusi-
ashc support Of the public as its predecessor. The labor
and fraternal organizations were especially active in this
CAMPAIGN, and the women Of the country did efficient
organized work which greatly contributed to the success
Of 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 4. The bonds Of this issue bear 414
per cent interest and run for ten years, are not subject to
redemption prior to maturity, and carry no conyers1on
privilege. The loan was announced for S3OOOOOO,OOO,
but the right was reserved to accept all additional sub
scriptions. Seventeen million subscribers subscribed tor
S417O,O1965O of the bonds, all Of which was allotted.
A great feature of this sloan wa its very wide distribution among the people and
throuehout the Union md the fact that the country districts promptly and heavily sub
Secretary cAdoo pronounced this loan the soundest of national financing
A little oyera wear age there a ssome 100000 United States bondhoderj there
are nov somewher between 2OOOO OOO and 25OOOOOO Awakened patriotism hsm made
te American people a saving people a bond-buyng people The effect OF the Liberty
Ioauso IN the national charMtero IN our national e on the individual citizen and our
home life is unreasonable of hcahuabe benefit Not lesi ncaculabe is their hcto n
beat ack the Hun
The Fourth Liberty L@nc campaign will begin Saturday September %, and close
nodoaa AuicanN will fail too NnHhuRh to