The mirror., 1919-04-03
Victory Liberty Loan


Secretary Glass has issued call to the higher
patriotism of all Americans He says that the COM
ing war loan will be 6oated on popular basis and
every loyal citizen must do his part.
The need of the Victory Liberty Loan is not
tirey clear in the minds of some people. This is
the state of affairs:
The is virtually over The terms of the
armistlce are we'll under way to fulfllment. Ameri
cans are the object of adulaton and admiration all
over Europe for their herosm and faultess morale
under the most desperate conditions of the battle
field
But there is one part of the war that is not
that is the job of paying the bills. Our govern
has spent all the proceeds of the Fourth Loan
and many hundreds of millions of the Federal
and profit taxes of 1919, in fact expenses
min. the present time basis Of 81. 900 900
900 month This is even more than spent
during the fiscal year of 1917 and 1918 To meet
these expenses the Treasury is compelled to
sell certificates of Indebtedness and anticipation"
All such temporary borrowings have to be repaid
within a few months and repayment can be effected
only in two ways-either by selling another Liberty
Loan or by vast increase in the Federal taxes For
the boys" must be brought home and it will cost
millions to do it. The people opposed to in
creased taxation, especially that the war is
hence it is imperative that the Victory Loan be
foated in April
To carry on the work of rehabilitation and
turn the American soldiers to their homes will re-
quire as much money, or even more than 1t cost to
put them in the field at Chateau Thierry and ST.
Mihiel. This much is certain-that by the middle
of March the Government will have borrowed from
five to six billion dollars on short time certificates
and anticpations and there will have to be great
popular bond subscription to take up this temporary
financing.
Evidently the American people must accept the
only program which meet the obvious financial
requrments of the next few months, and that is to
keep up all the habits of saving and economy which
they learned when the was forced upon them.
The American lighters did their work nobly and
100000 of them occupy hero graves the broad
fields of France. The American people at home
confronted with the debts of honor brought
upon the country by the war. The bills must be
paid and the bills can be paid in no other way than
by sacrifice and self denial the part of every man,
woman and child in the United States.
When bills must be met, all sensible persons,
whether business men or house wives. realize that
Tue budget should show the total income that can
be counted on, and against that income should be
off the that be spent for rent light.
food clothing, and so
The situation Of the American people is just this:
By the end of the fiscal year the Government will
have spent about $6.O0O,O 900 for the war bills
that are hanging us. This money will have to
be provided by the people at large 1t cannot be
obtained by magic 1t must be saved. Everybody
in America Is liable for his share of it. Roughly
speaking, each American must save $4,000 during
the next half year his her share of this Victory
Liberty Loan financing.
Now is the time to begin the program of saving.
Cut down the needless expenditures Save much
possible and put the money into the savings bank
where it will be on hand when the Victory Liberty
Bond campaign opens 1t is foolish to try TO
the inevitable. The is 1t must be paid
for. Therefore. the imperative duty of patriotism
is to save harder than ever.-Sel.