Five Mile Beach weekly journal., 1918-08-16
Fourth Will Begin Saturday, September I

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 $2,OOO,OOO,OOO, the bonds bearing IL
per cent interest and running for 1880 years. The bonds
carried the conversion privilege, emitting the holder, 1.-The
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, subscribed for
more than So, 900, OOO,O 900 Of the bonds. Only
$2OOO,OOO,OOO 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 oversubscription 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 its
money resources.
The Second Liberty Loan campaign opened on Oc-
issue bear 4 per cent interest and run for 1928 years:
They carry the conversion privilege. 1t was announced
Nine mi million subscribers subscribed to $4y617,532o00 Of
the bonds, an oversubsCr1pt1on OF 81 per cent Only
$3,8O8, 766,15O Of the bonds was allotted.
This campaign was marked with the same enthusl
astic support of the public as it's predecessor. The labor
and fraternal organizations were especially active IN this
campaign, and the women Of the country did efficient
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 conyerslon
privilege. The loan was announced for $3,OOOOOOOOO,
but the right was reserved to accept all additional sub
scriptions. Seventeen million subscribers subscribed for
$4,17OO1o65O Of the bonds, all Of which was allotted.
A great feature of this loan wa its very wide distribution among the people ad
throughout the Union and the fact that the country districts promptly and heavily sub
srbed to the loan in a gat measure making III their quotas earlier than the cities
Secretary cAdoo pronounced this loan the soundest of nahona1f financing
A little overa yeara go there a ssome 100000 United States bondholdHs; here
are nov omewhe between 2OOOO OOO and 25O0OOO0 Awakened patriotism has made
the American people saving people a bondbuyng people The effect of the Liberty
Loans on the natonl charmtero Oh our national life on the individual citizen and our
the deshny of the world aso r ships pillow the. seas; md our men land material in Europe
beat back the Hun.
The Fourth Liberty Loan campaign w1b begin Saturday September 28 ad close
October 49, No Ameicand doubts its success" no good American will fail Ito contribute to
its success The blood Of our men Taller inEurope calls to u.s. our answer must be and
will he worthy Oft them and our country