The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1918-01-10
JUGGLING. WITH
LIBERTY BONDS

Wall Streets financial gluttony is
apparent. It is gambling in Uncle
Sans Liberty Loan Bonds.
One day in the week Of July Ia,
1917, bonds of the first liberty loan
sold at SO cents on the dollar among
this bunch of financial sharks.
This was an imposition upon the
loyal citizens who came to the rescue
of the Government in her hour of
need. =
1t was not only that; it was a
stain upon the good name and the
good faith Of the Government, de-
clared the Sacramento Bee in an edi-
torial captional "Uncle Sam should
Protect It's Citizen Friends" in
which it denounced the gambling in
Liberty Bonds inaugurated by Wall
Street in no uncertain way.
The Bee stated that poor as well
as rich-poor, eve more than rich
when the contrasting circumstances
are considered-willingly and freely,
periodically and self-sacrificingly
put their lands in their pockets to
loan the Government money to tide
her over the great crisis in her his
tory. ~
Following that first Liberty Loan
from the citizens, the United States
recently received billions more from
the purse of patriotism.
And thes peculators in Wall Street
continued the same old tricks.
On the New York Stock Exchange,
of the bonds which cost the COM
p~aratively poor people Of this nation
800, the As were quoted the other
day at $o7.66 and the 3h's at 500.
Uncle Sam should see to it that
the depreciation Of these bonds
stamped with the faith and the credit
of 100: 900 900 Of people, sold to pa
triotic and self-sacrificing citizens,
many Of whom could lily afford the
purchase, and a very, very large per-
centage of whom today have to. pay
for them on the installment plan
the Government should e to it that
these bonds are not made the football
Of the greedy gamblers Of Wall
Street.
These bonds should be treated by
the Government differently than mere
municipal bonds, or any public paper
Of that character.
The Nation must not permit the
faith Of her children to be destroyed.
The Government should not allow
q Liberty Loan bond to wabble up
and down on the financial tide OF
Wall Street like q stack Of railroad
stocks. H
The only way to prevent it is for
the National Congress to declare that
such bonds are payable at their face
value at any National Bank at any
time the purchaser desires to sell such
bonds-together with a punitive sec
ton Furnishing anyone who depreci-
ates the face value Of that bond, eth
er on the Stock Exchange or any
where else. N
If the United States Government
does not see to it that deserving men
and women who lent their money
ret every cent Of that money back
with interest, whenever they abso-
lutely need that money, it will have
left an indelible stain upon the good
faith and the common honesty Of this
Nation.
In talking this matter over with
friends Of banking habits, he sug-
Rested that it could not be done, be
cause the Government would b
swamped Il = vast portion Of these
bonds were to be turned in at one
time for collection.
That Isl true. III
But no such thing Is 1t all likely
to happen. i.
People are not going to get rid d
these Liberty Loan Bonds before ma
turity, il the Government will protect
their face value, unless they are resi-
" il need Of money.
And II the Government will not pro.
tect that face value, and still permits
this shameful depreciation to 60 o.
unchecked, then the Liberty Loan,
while ! blessing ii one why, is very
likely y prove : nasty scandal in ap
oeh6t.
neaidss e n pnthinkable that
GovsrnpnentGNhiGh has'dons what St1I
CsveEnnant - secompliahed. -