The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1919-03-14
SELLING LIBERTY BONDS
Question as To Ethics of Sale Dis
eussed by Il. J. Cole.

SbSoSu ny ~. - WV.
In front page article of March
18th, Tie Banner states:
Not the Time to Sell Liberty
Bonds Should be Held by the First
Purchase
1t intimates that it is dishonorable
to sell them and that you would or
should be ashamed TO let the "boysV
know you did so.
We contend that if ii is dishonor-
able to sell Liberty Bonds it Is equal
" dishonorable to buy them and that
IS exactly what we paid the Benning-
ton Banner Of March IS to advertise
We were doing ~.
They said II you must dispose of
them take them TO banker Why a
banker? Isn't a clo,hcr's money Of
equal value TO q bankers, and there
is no banker we know of that offers
YOU $50 for 4 $50 bond which is exact
~ what we paid this same Banner to
say to you. There are five to ten
million dollars of Liberty bonds
bought and sold in the New York
market every day. There is not and
never has been any restriction. Gov
eminent or otherwise on their free
sale.
We resent the imputailon that We
are dishcnorable in advertising TO
take them in whole or in part in
trade. Seems to us that If the CON
science OF the Banner is so very keen
| II would be seemly for it to refuse
to accept for paid publication a dis
honorable advertisement
The moral code of most of us
Americans is the same whether a
profit or loss is the result Of our
actions. -
For our own protection against the
assumption of the Banner that we
are off color as an American by adj
Ivortising to purchase Liberty Bonds
we explain what we have paid the
I Banner to advertise. .s
We will accept your Liberty Bonds
fully in trade for what it cost you
f in part payment we allow You its
market price but with no brokers fees
for selling. To 20 behind the scenes
| here is actually what we are doing:
We buy your bond that pays Sls Il
Az per cent take them to our bank
ers borrow on them at per cent in
terest. Apparently we are losers By
the transaction, but we have accom-
modated our customers and surely
. there is not much dishonor in that
We 20 still further any time with
In six months you want ycur bono
we will return it at exactly what yot
sold il to us for whether the marke
price is lower or higher.
We so stlll further any time durins
I the next five years YOU want you
bond back we win return it at exacil.
: the price we bought It at plus tn
extra interest we paid our banker
for carrying it.
There may be bond sharks AM
swindlers just as there have beel
newspaper sharks and swindlers bu
III the Bennington Hammer cares r. Il
step on our advertising toes we wan
= specifications handed US at the sam
time
Business ana politics are separat
j.. professions and this matter OF takin
in bends is business but We are {
the candid opinion It's of nobodie
: business except the sellers and III
e buyers.
S The advice administered by tn
Banner has been varied and misce
lancous. We might say good, ba
y and indifferent To us 1; usually a
l, pears indifferent by It in tho pa
d one might have become Socialis
I. a Democrat, a Republican or Pr
pressiye. II is barely possible II
3 Banners clerk clipped the item fro
e New York paper aud inserted
is tili space. However we must insi
e that If the Bennington Banner tent
- to its own affairs it will be bus
enough to prevent itself being mike
{ up with those Of other people.
1t Very truly.
Chas. G.. Cole
1.-THE Banner is accustomed to
: ing accused OF all kinds OF erin
and misdemeanor probably som
times with justice aud. perhar
sometimes not. The article in Il
Banner to which Mr. Cole objects
a part OF countrywide effort on Il
part Of. treasury officials, bankers al
others to keep people from sacrincil
their liberty bonds and putting d
money into less valuable investment
Tho article was brought to The Ia
noT Office by II. II, Webster, repi
senting the local banks. who W
hardly be suspected OF trying to
tcrfere with the business of Mr.. Co
or any other merchant Mr.. WebSt
requested that the article be print
..asI A. n.