The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1918-08-14
THE LIBERTY LOANS

i lie Cnlled OldleS eIllcicu inc
war on April 6, 1917. Eighteen
days later by a practically unani-
NOUS vote congress passed the
Liberty Loan Bond bill.
On May 2 the First Liberty
Loan was announced, on May il
the details were made public, and
on the 18th the campaign began
and closed one month later The
issue was for $4,000 1000, 900. the
bonds bearing 312 per cent inter
est and running for 1870 years.
The bonds carried the conversion
privilege, emitting the holder, il
he chose, to convert them into
bonds of later issue bearing a
higher rate Of interest. Four
and half million subscribers
from every section Of the country,
representing every condition, race
and class of citizens, subscribed
for more than $3,000.0001%gJ Of
the bonds. Only %,--Jy90 100000
was allotted.
The outstanding features of the
First Liberty Loan were the
prolnptncss with which it was
arranged and conducted, the pa
triotism Of he newspapers, bank
ers, corporations, organizations
and people generally in working
for its success, and the heavy
over-subscription of more than 90
per cent. Another notable fca-
ture was that there was no in
terruption to the business Of the
country occasioncd by the unpre-
ccdented demand upon its money
n resources
The Second Liberty Loan cam
paign opened on October /, 1917,
and closed on October 81 The
bonds of the issue bear t per cent
interest and run for 1925 years.
They carry the conversion privi-
lege. 1t was announced that 30
per cent of the oversubscription
would be taken. Nine million
subscribers subscribed to $4,617,-
$4,000 Of the bonds, an oversub-
scription of 81 per cent. Only
$3.S0S, 766, $50 Of the bonds was
allotted
This campaign was marked
with the same enthusiastic sup
port Of the public as its predeces-
Sor. The labor and fraternal or
ganizations were especially ac-
tive in this campaign, and the
women of the country did eff
cient organized work which great
ly contributed to the success Of
the loan The men in the army
and navy worked for and sub
scribed largely to the loan.
The Third Liberty loan cam
paign opened on April 6, 1913,
one year exactly after our en-
trance into the war, and closed
on May 4. The bonds Of this is
sue bear 4l4 per cent interest
and run for 10 years, are not
subject to redemption prior to
maturity, and carry no conver-
sion privilege The loan was an
nounced for $4,000, 100000, but
the right was reserved to accept
all additional subscriptions. Sew
enteen million subscribers sub
scribed for $4,170,019,65O Of the
bonds, all of which was allotted.
A great feature of this loan
was its very wide distribution
among the people and throughout
the Union and the fact that the
country districts promptly and
heavily subscribed to the loan, in
d great measure making up their
quotas earlier than the cities.
Secretary McAdoo pronounced
this loan the soundest Of nation
al financing.
a little over a year ago there
was some 100000 United States
bondholders there are now some
where between 20,000,00O and 25,-
100000. Awakened patriotism
has made the American people a
saving people, a bond-buying peo- |
pie. The effect of the Liberty |
Loans on the national character,
on our national life, on the indi- !
vidual citizen and our home life
is immeasureablc-of incalcula- ,
bic benefit. Not less incalculable
IS their effect on the destiny of
the world as our ships plow the
seas and our men and material
in Europe beat back the Hun.