El Paso herald. (El Paso, Tex.) 1901-1931, 1919-05-01
Ell PASO WILL FAIL WITH THE LOAN
UNLESS ALL, BIC AND LITTLE, BUY

A NOTE Of warning has been sounded that FL Paso may
a fa to raise the Victory loan quota unless everyone
whatever financial strength large small bends his back
and helps lift it. At meeting Of team captains It was
brought with emphasis that with the whole field
eauvassd and about 100000 left to be raised only half
that sam was in sight.
The lager subscriptions have been taken into account
The cleanup, if the loan to be locally must be
put through by small subscribers well by those with
ample means. The former, who may have thought
themselves unable to afford bond this time, must find
to buy and the latter must enlarge their
ideas Of how much they are able to invest
Nor is it too late for those who have already bought
all the bonds they beieTed themselves justified IN
ing to effect revision upward and put down their money
accordingly.
does not look the banks The banks have their part TO
perform in the matter Of supplying the government with
the funds it requires between the bond issuing periods The
banks not expected to invest in the bonds unless they
have funds they take them resell to their
patrons, the individual investors.
The treasury department has arranged 1t that sub
srpons to the Victory lean be paid IN easy install
ments extending through period Of six months. This
should enable subscribers handle bonds Of their
funds payment down and the rest they itthus
leaving the funds Of the banks free TO be invested in treas
uTy certificates
When Liberty bonds offered, in the various loans
heretofore Oaed by the government among the American
public many subscribers made ther first payment and then
got their banks to carry their notes for the entire balance
and for indefinite time when they should have met the
payments out Of savings for that purpose
In many instances the banks have found it necessary
take the bonds that have been put security This
money needed for the temporary financing Of the gov
through investment in treasury certificates
This practice should be avoided IN E Paso and through
out the southwest II IS one reason Why the banks Of the
Dallas reserve district often have fallen down meeting
the treasury certificate quotas The treasury certificate
issues important to the government the loans
themselves Each compliments the other The banks should
handle the and the public the other.
If the banks furnish their customers with money &c
pay for subscriptions to the Victory loan II pairs the
banks ability, to that extent to take treasury certificates
There is another phase If the banks were to have
70 III out the quota, they would be short funds local
uses Whence would the money to loan to the
chants and factory Of the city? these latter
unable to get bank assistance to tide them particular
periods and had to cur their business accordingly where
would some Of the ttle fellows jobs be- Apathy must
be cast aside now George can't be looked to do il
All this IS explained IN detail for the purpose Of re-
moving any false idea that, II worst worst
permissible to turn 20 the banks and call them TO take
up the balance Of the loan quota either by outright pur
chase OF by carrying bonds for individual investors on terms
which the government could not make The banks have
their job and the rest Of Us have ours
Ours is to put this Victory loan quota over 1t Is true
that the total allotted 10 e PasO somewhat larger than
vas expected but way Of looking that fact Is 10 re-
gard It as compliment tribute to the financial ability
and the patriotism Of the E Paso public
This is not the first time e Paso has been apDreheusivs
OF falling down public subscription. Always before the
people have met the emergency in Characteristic
ally American It is not the first time such crisis has
come bit FL PasO people fail this time II VIII be their
11rst failure With teams Of solicitors working with IN
tagging energy and with the whole public awakened to the