, 1918-04-04
American People Must Lend Part
or Pay All to Finance
Great Conflict.
OF LIBERTY BONDS
Liberal Loans to Government Is Ad.
Vancing Financial Assistance to
Our Children, obviatins Total
Cost by Taxation.
(By EUGENE p. LYLE, JR., of The
viujIantes,)

Freedom comes high, being a pre-
cious thing. Being the most precious
thing, 1t comes highest. No people Is
worthy of freedom that is not willing
n eager to pay dearly for 1t. In
fact, you will find no people possess
Ing freedom that has not paid dearly
for 1t, and you will find no people con-
tinuing to possess freedom that does
not stand every ready to pay dearly,
over and over. to retain it.
If this were not true, Belgium,
France, Italy INT England with her
oversee dominions, would now be as
Russia is today. II this were not
true, America would still be neutral,
c~ontemptibly awaiting her turn to pass
under the yoke.
Blood and treasure, anguish and sac
riice-these are the coin we bring
to market the coin we must pay Yet
the coin may be, and, is expressed in
dollars and cents, not alone as a SYM
boil of the real price We pay, but be-
cause this real price would be wan
tonly squandered, or paid in more
CHASTITY measure than need be, If the
cold, calm, practical business Of dol
lar-and-cents financing were not at the
heart of the heroic transaction.
Vainly would the soldier shed his
blood If he were not trained and
equipped to make his blows count to
the utmost, INT the cost of this train
Ing and equipment is an item that may
be, and is, expressed in an exact num-
Der of dollars added to an exact num-
Der of cents. His country must spend
precisely this amount to enable him to
defend her.
Consequently we of America are
now confronted with the biggest war
bill in history. One year of this war
is costing us as much as all the wars
we have had before added to all the
other expenses of our federal govern
ment since we first won our freedom.
Lending to Our Children.
Ungrudgingly, yes! OF that we are
proudly conscious that there is no
question. The one and only question
is the practical question of finance
How shall the money be found? We
ourselves must supply it, since 1t can
not be borrowed elsewhere. But how?
The bill is too big to pay cash on
the nail as we go. And, furthermore,
to pay all as we go would be just
neither to ourselves o to our pos
terity.
1t would not be just to ourselves
because we alone will not be the bene
iciaries. The generations to come will
benefit-incalculably benefit in the lib
critics preserved to them-and 1t is
proper hat they should be left to as
sumo a fair proportion of the debt.
They are buying freedom today as
much as we. But we shall have to
lend them the money now to pay their
share. In lending to our government
In buying Liberty bonds we lend to our
children; and gratefully our children
will pay 1t off.
Any other arrangement would not
be just to them for the reason that
should we strip ourselves bare to pay
all now, we would be crippled in pre-
pairing our children for the ordinary
duties of citizenship. Better far that
we retain enough to $ o equip them for
success in life that they may without
undue hardship take over their quota
of this wars burden! Better for us
and better for them!
Sound common sense then, Is vel
as equity. points the way. The wars
burden should be divided. Let us pay
In cash as heavily as we wisely may
that Is taxation. But he rest let us
leave to the future bene~ficiaries, lend
ing them the money nOw-that Is buy.
ing Liberty bonds.
Freedoms Great Price.
The present moment is Il good time
to contemplate what will happen-in.
evitably happen-if we do no lend to
posterity TO help pay freedoms huge
price. Nothing is clearer thar the al
tentative.
If we do not lend our government
what 1t asks of us In loans, then we
must consent that the total cost be
taken from us outright by taxation
even by u prorated confiscation.
Before such an alternative even the
German, or pro-German, having prop
erty interests In this country, should
choose to subscribe for Liberty bonds.
In our own self-interest, apart from
the issues vital to the integrity of our