The Richmond Virginian. (Richmond, Va.) 1910-1920, 1918-04-06
Our Great Spring Drive
The Third Liberty Loan Campaign
BY A. j. HEsTPHTI,IA.

SIS, 600 900. Thus the increase in the
United States during the last ffve years
nearly equaled the worlds combined
banking power twenty ght years ago.
And British flnanciers have freely con-
coded that in the federal resrve sys-
tenn we have the strongest and largest
banking system in the world.
The sound state OF our banks is the
best possible evidence of the country s
IN paralleled prosperity, which is fur
ther accentuated by the fact that the
general stock of money in the United
States on March ! according TO es-
Inmates made by the treasury depart
ment, totaled S6.351 ,64S. 056, as COM
! pared with S5.146,t78,093 a year ago.
/ Money in circulation on March /
amounted to S5,0g2.630 6S2, as against
I $4,5s38S5.S70 a year ago that date.
I Based on 4 population Of 105.2SS,-
900, the per capita circulation at the
/ beginning of March was placed al
/ s4827. on March /. 1917. it was
Is4428 Just before the outbreak of
the European war, namely. July l.
1914, the per capita circulation was
1896
The official estimate OF the total
wealth of the United States for the
year 1912. the latest available tabu
lation, was $1S773s. o7t.0a0. That we
have been creating and storing up
great riches since then il well known,
Today our national wealth is esti-
mated to he between S225. 900. 600, 900
and $3.50, 900, 100000. Our per capita
wealth In 1912 was 1885, now the
i average is considerably in excess OF
/ $4,000 for each individual.
The year 1917 was one of marvel
Gus expansion lndustrialN and com
i mercially for the United States. Our
exports aggreg gated more than IS .0a0.
| 100000 and our i'm ports were valued
/ at $4,000, 100000, The crop yield OF
all cereals excepting wheat exceeded
all previous hsrvests. and was worth
! $21. 900. 900 600. Bank clearings to.
tailed unprecedented amounts. while
, both deposits and loans surpassed all
previous records The government
| during the last year borrowed $500
100000 by selling It's bonds in the two
/ liberty loans We loaned approx
mately $4,000. 100000 TO our allies.
\ New and Beneficial Habit.
Ana, fortunately, the American PEG
! pie as a whole changed their money
habits in 1917 10y buying bonds on a
colossal scale. The treasury depart
iment has learned where and how To
and the money ii needs to finance our
ii''Ni 40 tiAr 81 bSEtS LOT "OTIu Tree
! dom. 1t has built up. through the
splendid and unstinted cooperation OF
business Interests generally, but
through banking Institutions and bond
houses In particular, the greatest
bond selling organization that has ever
been known. Not only has the public
acquired the habit Of lending. but
more important, that OF saving in or.
der that 1t may lend more
But II we are TO win this war We
must realize thoroughly that a slacket
dollar is on par with 4 draft dodgel
or a shirker of work.
We should remember in this con
| nection that when we buy libert,
bonds we are really allocating a Ger.
tain amount o. labor TO the country.
service. By purchasing these bond.
1--we are temporarily surrendering Il
the government Invaluable labor, re
ceivinR compensation for itR use witt
the assurance that the right to tn.
use OF that labor will be restored Il
us at a specified time a few years
| hence
Every one who appreciates that hi,
own selfish welfare an we'll AZ the ma,
tion's most precious interests are lit
orally at stake in this war unques
tionabiy win do his fun duty in TIL,
third liberty loan campaign. TIL,
Am eri oau people understand as nsvel
before that this is their war and tina
they are supporting II with their lives
their fortunes and their honor. Tha