Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1918-10-02
Fighting Fourth Liberty Loan
Facts and Figures
BOND PRICE VARIATIONS


the United States Government should
be able to float a lean Of $4,000, 0O0,-
coo with every prospect Of it's forming
Q, safe sound ard t'-c~c'-c5,'a}r G23t: =
bic Investment for the individual, an
authority on the subject, E. Kerr, sta
Istlcal expert, said as this country
was entering the great war.
On the basis on which Great Brit
ain and France were borrowing, the
United States might with comparative
safety borrow up to $38,5O0,OOO,O COO,
States has proved that it can easily
and rapidly pay off considerable debt,
and it is still a country with magni-
fCent opportunities for development
and the production Of new wealth"
After being at war a year and b
half, with it's always excessive first
cost, the war Indebtedness of the coun-
try as expressed in Liberty Loans
and War Savings stamps is less than
fifteen billion dollars The new Lib
erty Loan, The Fighting Fourth, there
fore, offers a good and safe invest
ment to the loytI1 as well as an OPP
pcrtunity to give practical expression
to their patriotism.
In the entire history Of govern
ment loans, and l. goes back through
the centuries, there are very few Oc-
casions On which the interest on the
bonds Of respOn bic governments has
been defaulted, repudiated or fund
ed. This has happened only in the case
OF new and untried go ernment5 or
IS 3 result Of anarchy and reputation
OF the debts then incurred by the re-
sponsible incoming government. Even
then the reputation has usually been
temporary. War is usually followed by
a period OF expansion and Invention
in the defeated as well IS in the vic"
t0rtOus country. Taking past wars
as a precedent, the present war, be-
ing on a larger scale than any which
have preceded It, should have larger
results.
When the present form OF govern
ment came into existence in this
country in 1890 the total Indebtedness
Of the United States exclusive of pa
ner currency was S52,78S,722 and state
debts amounting to over Is million
were assumed by the federal govern
ment. The foreign debt Of 10 million
with an interest rate Of 500 was re-
paid by 1875. The domestic debt al
so was funded and gradually repaid,
the interest rate being reduced 20
$50, 1-295, 4 12% and go in various
ways.
To the total Indebtedness Of ap-
proximately SO million in 1900 was
added S11 100000, the purchase price
of Louisiana but more than half had
been paid when the country entered
into the war Of 1872. In 1911 an at
tempt was made 20 introduce United
States bonds on thkLondon market
The 5Ro were quoted at 65 to 70.7l.
the go a. 101 and 102. Interrupted
Of CT>1 Mt
was made in 1916. The $50 were then
quoted at 81 and the $50 at 81 IL and
80. These same bonds were quoted
in Philadelphia at the same time at
81 and g. A eco loan pat out in
1913 was sold a. So IA.
Although the war added about IS
million to the public debt the floating
debt had been reduced to such small
proportions by 1917 that payment into
the sinking fund recommended. BY
1886 so much had been paid off that
IS million surplus revenue was dis
tributed among the states Although
1t added Approximately 40 million TO
the public debt the Mexican war did
not interrupt this prosperity. A SCI
loan which partially financed it was
issued at par
On the basis Of all claims being ad-
justed the Civil War is stated to have
cost the Government three billion
dollars At it's maximum in 1865 the
national debt was 50 756, 431 571. Up
to the present war the Civil war was
one Of the most expensive and eX-
haustive Of all history yet the last
war loan bond was redeemed AZ years
later, in 1907. This was a feat re-
garded BIZ Europe as astounding.
The most popular loan of that war
was the 681, 52Oyear Of 1862 of
which s515,O0O,0OO was placed at par.
Reminding operations from 1870 20
1877 redue ed the interest rate 20 $50,
to 1-21o and then to 49a. All is
sues were at not less than par,
The prices of the IS Of 1881 were
IS follows during the war; 1861. from
81 II to 81; 1852, from 81 u to
LOT H. 1883. from 81 ga to 40 ga;
1864, from 1o2 to 11s; 1865 from
1913 1-2 to 112 3S.
Just previous to the Spanish War
the national debt amounted to some
thing over s9s6,oO0,OOv. At the end
of the war this had mounted to
s1,155,32O,235. A s20O,cOO,OOO 3Ts
war loan offered at par was sub
scribed seven times over and went
to 100 inside Of three months. The
debt was steadily reduced during the
nine years following the war and
bonds for the Panama Canal were is
sued at or love par, showing the
high credit standing of the country.
During this period government secur-
tiles rose to maximum OF 139 80
for the 49o and 103 IA for the 800
issued to finance the canal.
Since then there has been no de-
crease, the 1915 net Indebtedness CT
the United States standing at 81 132,- ,
639 ,195 and having interest rates at AGO,
800, 2 1-2@o and 295. Of the gross
debt $500 was non-interest bearing |
and 241S was bearing interest at go. |
GERMAN VIEW OF CHRISTIANITY
Read this by Friedrich Wilhelm |
Nietzsche and then think Of the women |
and children whose blood was spilled |