Oxford eagle., 1918-04-25
NATIONS PRESENT
CRISIS REQUIRES
FULL DUTY OF I'LL
oEcRETARY MeADoo POINTS OUT
THE OBJECT OF WAR SAVINGS
AND THIRD LIBERTY LOAN.
LOAN CAMPAIGN INTENSIVE
1hs Work Of Neither War savings
Nor Loan Organizations should
De Permitted to Overlap.
N WILLIAM q. NcADOO.
Secretary Of the Treasury.

Secretary OF the Treasury.
70 the Executives and Workers u
the Liberty Loan and War 6avings
Campaigns:
As the time for the opening Of the
campaign for the Third Liberty Loan
approaches. It seems advisable to set
forth In q definite way q plan By
which the activities OF these two or-
Ganizations shall be brought into uni-
son for the period OF this campaign.
The War Savings Organization
should have for it's primary object
the education Of our one hundred mil
lion OF people TO the idea that at this
time OF war and national crisis the
practice Of thrift is not alone a mat
ter Of personal wisdom or advantage.
but IL vitality necessary TO the welfare
of the nation. The United States gov
eminent, In its prosecution OF the war.
requires the use Of the products OF
labor TO the extent OF billions OF dol
lars per annum. while al the same
time IL has been necessary TO remove
from productive employment over one
million five hundred thousand men
This demand for material cannot be
met II the normal needs OF our popu-
lation are continued. To q reduction
OF these needs the chief activities Of
the War Savings Organization should
be directed. and as a complement TO
this work the savings thus effected.
when translated into terms OF money.
should be invested In u o govern-
ment securities
On the other hand. the Liberty
Loan Organizations are confronted
with q problem OF raising within Q
short space Of time billions OF dollars
70 meet the immediate requirements
Of the Treasury Department Insofar
~ these monetary requirements can
be met on, OF savings. the situation In
thereby benefited. but In any case the
money must be raised. and raised
quickly. The campaign must there
fore be intensive and. while pointing
out the necessity OF sslfdenial In eA-
penditures. must be directed toward
amounts OF subscriptions a. well -
numbers OF subscribers. The needed
amount must be raised. even thouSh
present savings are not sufficient and
sven though II becomes necessary 10
pledge future savings through the uss
OF credit facilities
In the coming Liberty Loan drive.
therefore. the War Savings Orsanisa.
hon should continue their efforts In
The formation Of War Savings eocis
ties. educational work in the schooas
and general thrift propaganda Their
actual selling organization should,
however. be combined and oo-ordinAt
ID with that OF the Liberty Loan On.
Eanization 10 the end that durinx stks
period sales OF government sscusun,
both Liberty Loan Bonds ana War
Savings Stamps. should Be made N
The largest amounts possible 70 sssA
individual buyer. but the purchase Of
Liberty Loan Bonds rather tAAn Wa,
Savings Stamps should. during this
period. be the main object. To this
end. during this period. ell donated
advertising space should b devoted
b Liberty Loan offerings.
The first effort OF both the LIbsrsy
Loan and War Savings organisassous
during the coming drive should b q
sen Liberty Loan Bonds. and no msm.
Der Of the War Savings Organization
should endeavor TO divert q puroAsssu
OF Liberty Loan Bonds to the pur
chase Of War Savings 6tamps. On
ne other hand. there are persons vhc
are unable TO buy Hhsrty Loss
Bonds. and al thsss Dsrsons shoull
be urged TO buy War savines otamps
With regard to partial paymsat sub
ncnptions to Liberty Loan npoAa
these should bs encouraged. but vhsS
employers Of labor OF oshsn have
formed efficient War Savings Oosas
oss which are actually obtainins ~
tematic and adequate subscriptioas u
War Savings Stamps this worh shouh
not be intsrfersd With By an Sadssvo,
70 supsrseds the War oavtnss oesis
uss by the introduction Of The psrsaa
payment plan for subscriptions 70 In
srty Loan Bonds. Such War oavfae
Societies should make every possihl,
endeavor to promote the sale not onl,
OF War Savings Stamps but LxhssS
Loan Bonds during the coming an
The loyal army Of worksrs N bot]
these organizations must realise TIA
they are working for . common oaus<
though by different methods; tAa
each Is a part Of the Treasury Dspar,
msnt force. and that each is uNAs
Treasury Department control.
Complete harmony and unity Of on,
pose helps both Organizations IN "a
attainment OF the purpose Of sAch-
the successful financing Of the VI
on . sound basis. We must have con
plete and cordial cooperation bstves
the two organizations. and I am su,
that | may count upon every membs
Of each organization for that kind ,
patriotic work.
ask that these suggestions be @
ried into effect both In letter anA
spirit