The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-05-23
{. MAY l6.-The success

Now York, May lo.-The success
W. W. Victory Loan was the crown
OF 'ne cb;everr1ent of Americas cred
ing record of war financing. In
itao' tvo wears that this country has
tne w" ~ war the people have taken
S Ss Zoo 100000 in government loans,
l isss than $3,O00009,000 of which
no..sssnted an over-subscribtion of
iep.n,o,,nts actually asked for in the
inc eond third and fourth loans; per-
SCI. &C much may be added as over
n .sPPscr;ption of the first and fifth
;".,s which amount was not accepted
~. he treasury department. The gov
oy in other words, asked for
eia sO0 100000 in war loans and re-
s:%sd subscriptions for SIS, 900 000,-
oo1 estimating the total for the Vic
49, ~, loan at 100000, 0O0 AS a re-
.uit the United States, with its cur
ssncv and financial systems in nor
Is ..i condition, with its business or
nnn,n;zations we'll on the road to nor
NAL and with no great hardships
either to its people or to its institu-
lions has completely. funded its war
debt before the. war is officially end.
ed More short-term financing will
he required, but such obligations will
he automatically retired before the
first of the war bonds become due:
The Victory Loan campaign fulfill
Cd every hope and expectation of
making the last the most popular of
aii the war bonds and its distribution
among 100000 or more subscribers
will now release from the banking in
st;tutions almost ,500O00,O00 for use
n stimulating trade and production at
home. The campaign was vigorously
pursued from the opening gun and the
end was always in sight, with never
.nv apprehension, as to its final out
come Nm the financial centers it is
understood that many of the banking
institutions will not be called upon
70 make I'D any deficits, as the sub
scr;ptions of their depositors and
clients will far exceed their quotas.
The process of anticipating the pro-
ceeds of war loans bv the issue of
treasury certificates has proved to
he quite successful and the same -1an
can doubtless beaadopted to antici-
nate tax receipts The national banks
are now holding only about 5 per
cent of all the outstanding issues OF
government bonds and are carrying
on loans for their customers sum
eaual to less than per cent of their
total resources. This fact not only
reflects the popular distribution of
the war bonds, but also emphasizes
the excellent position of the banking
institutions to take care of the i'm
mediate requirements of the govern
ment
Financing Domestic Business
As to the financing of domestic
business, the prevailing opinion at
the monetary centers is that the sup
Div of funds will be ample and that
from this time forward money rates
will work easier. 1t may now be ex-
pected, of course, that corporate Dor
rowing will be largely on the increase,
MANY of the corporations which held
up their programs for extensive Dor
rowing in order to give the govern
ment the right of way will now seek
for new funds in the borrowing mar.
ket, and already there is evidence OF
broader commercial borrowing.
During the past few weeks substan,
tial loans have been made to some Of
our large domestic corporations BY
the larger banking institutions, indi'
eating that the wheels of industry
will soon be revolving on norma
basis. Business concerns generally
have beer awaiting easier money
rates, and lower level for commod