Durant weekly news. (Durant, Choctaw Nation, Indian Territory [Okla.]) 190?-1944, 1918-08-30
'"rntN-F"ur Billions Required Out
I" 'urr'M Production viii Cali
For u Mighty Effort.

'"""rs" McQuaid in Dallas Ncws)
IL Is estimated by the Govcrnmen,
mat tw"nty-four billions Of dollars
VIII be required to finance the war
curing the coming year. or this sum
elsht billions will be sought to be
be raised by taxation. That will lray.
SIXTEEN billions to be- secured by bond
ISSUES. The fourth Liberty loan
mas been planned. 1t will be- for ap-
proAilhatcly five billion dollars. and
VIII be made between Sept. Is and
o'' ~. Tentative plans for two 9th.
"r loans of approximately like sums
nave b"cn made, but they are not
definite
Ih,s" loans are expected to b.
made IN January and February and
IN May or June 1t is understood how
ever that they may be combined in
one big loan to be made some time
it'e IN the coming winter. Ii that
shouid he attempted ii will be the
bissest credit ever sought in one cam
paiGn by any nation in the history
ol the world. This latter contin-
gency is assumed to be contemplated
IN case the Government expenses and
loans to the Allies shall fall consid-
erably below the estimate of TWEEN
ty-iour billions of dollars.
No plans for future Liberty loans
can be formulated far in advance,
owing TO the uncertainty of the vol
ulne OF Government expenditures.
An example of the fluctuation of ex-
penditurcs Is the fact that so far in
August the Allies have called for but
vi l,OUO,O0D in loans, which is "a lit =
Tie more than One-third of the usual
rate OF borrowing.
Must Come Out of Earnings,
All the sixteen billions of loans
and the eight billions of taxes must
come ont Of the earnings OF he peu-
pie Of the United States. II must be
accomplished by the exercise of
thrllt and economies. This can be
brought about without hardship, as
compared with the hardship that
people o! some of the other warning
nations have suffered. But ii can
not be brought about by the people
OF America attempting to live on
their accustomed scale of rXtrava-
game" ana their Wonted lavish eX-
penditurcs Tor luXurics
But extravaganza and the display
OF luxurious tastes are unfashionabl,.
now and no doubt will become unpup-
ular before the year is over For to
be eNtravasant is to be- unpatriotic.
That is because the fruits oi labor
during the war must be devoted to
winning the war. However. it is GO
ing To be easy for the people to BE-
frugal. II j. going to be difficult for
them to he cXtravagant This is be
ing gradually brought about by tn"
mobilization of the man power of
he country in essential occupations
and more by III" restrictions OF cred
its To promotion OF necessary enter
pIises
Positive activities that are now
making progress under the caSSifi-
cation OF necessary activities are the
making and saving of crops, ship
building activities, manufacture ui
guns and ammunition for war ani
the preparation for increasing our
military force. There has begun tn
negative influence that has brcom
necessary due to the eXigrncies oi
val lii9 - NV movement lbl IT,
Striction OF credit for non-eScntial,
1t is this negative movement that
will conC"ivahly terminate any dis
position to be unthrifty or cXtrava-
giant, despite the incentive of patriot
ism To devote all necessary oncrgic~
to winning the war.
Earning Power Must lh Employed
II is recognized that great care is
necessary in the exercise of the neg
ativr movement in order that the
earning power of the people be- not
diminished To a point where il will
be- impossible for them to realize 100
per cent of their ability in helping
to win the war through the creation
of goods and assets necessary there
to and through employment at good
wages for labor and at adequat" r.
turns for capital in whatever line
may be hest adapted to national and
individual needs. Business men all
over the country are giving heed t.
this movement.
obviously one of the difficulties
hat arises in restriction Of credits
is in differcntiatinG between non
essentials and essentials II is re
ported in financial circles that tn
Government has not yet made d"fin
itr determination in details as to th'
line between these. II is prObabl!
impossible to establish any univ'r
sal test. but the decision will b" mad
in individual cases This is th'
function of the Capital issues Com
miit"e. which is advised by loca
committees in each Federal Reserve
District Sometimes what may ap
pear To- b" nOn-eSSontial industry
may be found TO be- closely asSociat
ed with an essential B'Sid"s. il i,
not wis" nor pruvidont 10 restrict so
called nOn-cSSrntials 50 greatly a to
roduc" m" earning power nf tn" poo
Pile which would cause a d"crcaS'. j.
their ability To aid in III" war Wuro
by dcvoting a portion of tn" fruit
q. their labor TO that end.
Savings Tell the Tale.
On" Of tn" leading banker Of III.
Emitted States who j. connected viii
the Federal R"s'rv" system said r"
Gently that il is obvious that the ahii