The weekly times-record. (Valley City, N.D.) 1912-1922, 1919-04-03
THE FIFTH LIBERTY
Loan A CERTAINTY

The following letter was recently
received by Chairman M. 0. Gran
gard Of the Fifth Liberty Loan COM
mittee:
March 9Th, 1919.
Mr.. NJ. O. Grangaard,
Rogers, N. D.. .
Dear Mr.. Grangaard: d
The idea that there may not be a
Fifth or Victory Liberty Loan and
the bonds or notes widely distributed
among the people of the United States
is advanced only by those who are
misinformed or who are DESTROYS that
this last great loan should not sue
coed.
1t is absolutely necessary that there
be Fifth Loan, subscribed by the
people of the country.
First: Because by the middle of
April the Treasury Department will
have expended Six Billion Dollars, OBJ
tanned from the sale of short time GER
tifcates of Indebtedness, which are
but form of anticipating the returns
from bond sales.
Second. Because if the banks sub
scribed the immense amount of money
necessary to be raised they would
have no money left with which to
finance business enterprises, and the
commercial life Of the country would
be stagnated.
It will be readily seen from these
two facts that, as Secretary Glass has
stated, there must be Fifth or Vic
tory Loan drive, beginning not later
than April 81, and that the bonds or
notes (and it does not matter what
these securities are called) must be
distributed among the greatest pos
sible number of citizens.
America went into war without
selfshness and with high purpose.
We achieved vastly. Germany, dis
mayed by our enthusiasm and power,
feigned a. knockout, took the count,
and the United States flag now flies
from the strongest Hun fortress.
Nevertheless; the heroic job which
we entered so fair-heartedly and car
ried on so effectively is yet to be
finished. So now we whom prosperity
will consider worthy the name Of pa
triotic Americans must "carry on" I'M
til our debts are paid and the suffer-
ing world is rehabilitated.
It is conceivable to think that now
when the disease Of autocracy has
been cured the American people are
going to refuse to cheerfully pay the
doctors and the hospital bills.
People who now hesitate about con-
tinuing to give of their time and
money so that America can finish it's
job do not stop to consider that had
the war gone on as was expected, for
months or possibly years, we would
have had not one more loan but many,
and we would have sacrificed the lives
of hundreds of thousands of boys who
are now coming home to us. When
trey do consider these things, they
will enter upon, the work necessary
. put over the Victory Liberty Loan
with true spirit of gratefulness,r and
axe the Fifth the loan of thankful
ness.
A few facts should help to make
clear the governments need and the
individuals duty.
Up to November 8, 1919, the war
cost the United States $21, 900, 600, 900,
Of which we have loaned to our allies
practically $8,OOO,OOO,OOO, and have
spent ourselves over $13, 1000, 900, 900.
During the first half of the present
fiscal year the expenses Of the govern
ment amounted to practically $9,000,-
100000 and the estimate of the Sec
rotary of the treasury is that the ex-
penses of the first six months of 1919
will be Approximately S10.50O 900 900