The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-04-12

TO welcome him. standing while a
crack military band from Camp Lac
allied the hall with the strains OF
Dixie"
Oliver J. Sands. state chairman for
the loan, ANNOUNCED that A. j. Monta-
que. who was to introduce the
speaker, was unable to be present on
account OF illness. Attorney General
John r Saunders introduced the sec
rotary in his place, showering Viz
ginia's native son with praise for his
former deeds for his country and ex-
pressing the opinion that he could not
fail in thiS---his greatest undertaking.
Mr.. Glass denounced the requests of
many people asking him to approach
this the fifth war loan. In cold
blooded way, from commercial stand
point and making the appeal to the
public on a purely investment basis
On the contrary, he declared, It
should appeal TO the patriotic sense
OF the AInssicen people just an much
or, as when the country was in the
throes OF the holocaust which threat
ened It's life blood 1t was only the
money spent from these loans and the
commitments made. banking on the
other loans to come, which brought
the war TO such T. speedy termination.
he said, and saved the lives of thous-
ands, or perhaps millions of the flower
Oh AIlFTlN-du s-sIx15txHG04rs-~ 9NoNs EE
pointed out. the government was only
asking its citizens to make good their
obligations, without the cost of a
single lite
TO GAIN INSPIRATION.
IT come here tonight" began Mr..
Glass. mot so much to arouse the en-
thusiasm which / know is already
here, as manifested by the crowds
which have greeted. but to gain in
I'd - p. vat
to Virginia for this purpose in vain y
ION my last visit here" he contin-
ucd, '-msn were then complaining that
the war was 5000 mikes away. We
entered IL to keep II there By the
valor of allied arms 1t has been Kept
from our shores. and the success OF
the Victory loan will 60 still furth ar
towards the preservation OF everlast-
ing peace"
The organization Of the federal re
serve banking system was "A great
factor in winning the war" he said.
but for the unconquerable leader
ship Of Woodrow Wilson, that leglsla-
ton could not have been placed on
the statute books. (Applause.) Under
the old banking and currency system
the land was periodically visited with
panics. In 1907 the failure of two
hanks In New York shook the country
from end to end. Under the new
system not a tremor passes over dne
United States, though 1t was in the
greatest war that the world has ever
seen The city banks could lend the
country institutions practically moth
ing under the old regime. and the
ordinary requirements of the county
could not be administered to- Today.
through the Federal Reserve systers.
our own banking reeds are not only
cared for. but allied nations have been
loaned 1000, zoe, 900. Invested in
war savings stamps alone Is the sum
OF $4,000, 900. 900. The twelve reg
ional banks hold = reserve OF $4,000
00o. 900 in gold, the greatest gold re
serve ever held by any nation o.,
earth. The condition Is likewise true
of state hanks and trust companies"
PROSPERITY AT HOME
Not only has the war been kept
been kept Mt home," Mr.. Glass de-
clared-
He pointed out that this brilliant
financial record should carry US on
to great commercial success. We
should give fun play 10 our faculties
he said. and buckled down TO the task
ahead of us. "A world Is to be re-
built" he continued, and there
should be no doubt AZ to VINO Is Ia
rebuild it except America Richmond
should take the lead In this industrial
and commercial revival"
American business mon, he said
should now gtvo oppression to this
purpose by meeting the obligations o.
citizenship. II Is the duty Of every
citizen to guard the honr of the
nation. and he should be willing tc
lpledge his capital and labor to the
paying Of It's debts.
The guns have ceased 10 fire. ''hs
asserted" and it IL now our duty tc
keep them silent, not for the present
but to forever Silence the roar Of
cannon" prolonged appiausel.
Referring to the reactionary spirit
that has started against the loan II
some parts Of the country, Mr.. Glass
said that TX he had the slightest ides
lof disappointment, his visit last nigh
dfspeIIed IL Thank God" he said,
this spirit Of opposition 10 the loar
has not reached Virginia. Tor dom
believe tina people of this common.
wealth would be Indifferent to theii
No man could hope to excel the
record Of w. g. McAdoo. he continued
hut he had no fear of tho success oi
1.-THE Liberty Loan. In spite Of the dis
lcouraginE views expressed by some
lpessimistic public men.
He pointed out that some people
said II was impossible to revise the
AcoatinnAAs .Haes EunA