Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1918-09-28
THE FOURTH LIBERTY LOAN

This day marks the opening Of the campaign for
the sale Of bonds in the Fourth Liberty Loan. The
amount asked for at this. time is SIX billion dollars,
which is just a little more than was actually subscribed
for the third loan The government figure is the min
inum, and bonds will be issued for the full amount Of
all subscriptions. 1t is taken for granted that. as on
former occasions, tho loan will be very largely over
subscribed.
In our financing of the war we have reached the
stage where practically nothing new can be said. The
principles have been stated and freely discussed. The
situation has been inspected from every angle. In the
main there remains only that emphasis shall be placed
on the thoughts that are already in the public mind,
and that the beliefs and convictions already existing
shall find expression in appropriate action.
In the eighteen months since we went to war we
have Travelled far. we have come to accept as quite
natural facts which, at the. beginning, were quite be-
yond our comprehension. That this nation should put
on the trappings and, in a wholesale manner. engage
in the activities of war, was utterly beyond the compre-
were opposed. as that we could not grasp the significance
or the possibility of such a course. We had gone our
peaceful way developing our material resources, and re-
veaing IN the abundance which was in part the result
OF our own uninterrupted industry, and largely the; free
gift of bountiful nature: And yet, in the short space OF
a little moro than a year. we have developed into a great
military nation, and there is not a corner Of the coun-
Try so isolated that 1t does not feel every day the inhu-
ence of these new conditions. We, who have maintained
a paltry hundred thousand men in arms have now more
than three million ahoat and ashore actively engaged
in the world war: and we are spending in a year III
much. as our entire government had cost from the very
beginning. These two facts are merely types OF the
change that has come over our entire scheme of exist.
ence. and Of the still more remarkable change that. has
been made in our habits of thought.
And now, having been engaged continuously in the
duty Of sending our men to the front, having just reg
istered for service our ultimate man power. standing an
we do. committed to the last man to the success of the
cause Of liberty, we are about to do again the simple,
obvious and necessary thing in providing for the use Of
the government the funds which it needs at this time
to keep armed, and fed, and clothed and equipped the
this service. and who. without this, would merely be sent
as useless sacrihces.
There is no new principle involved, but in the pro-
cess Of its development the situation has reached a nsw
stage. The war, like all other things, must end. II
cannot end too soon provided that it ends in a just and
enduring peace. Until that goal Is reached it must go
on. The end has not been reached, nor is it in sight
Tho struggle must be continued for months: it may be
continued for years. We cannot tell. But ali the in.
idications now point to the conclusion that the tide OF
Eerman military power has passed It's highest point, and
10 ebbing. never to rise again.
In this respect, therefore, we can approach this new
fioan not merely confident of ultimate victory, but q.
gured that ~ are actually on the road 70 that victory
Ifnd havs passsd the most doubtful and DANGEROUS spotl
lon It. II - our part now to put additional force into
the blows which arel being struck, 70 the end that the
ipeace ofsthe 2world may be restored, and the lives 81
teny ewn4peopls SAVED ~ the abundance of our sprspara.
ltion and the completeness o. our Devotion