Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-09-12

NTASHlNGTON, D. c., Sept 6-Uncle
wv Sam is going to pay out more money
in interest alone this year to the thirty
odd million holders of Liberty bonds than it
war During the next twelve months, he will
have to hand over nearly a billion dollars to
the great army Of American citizens who bought
his war bonds.
Before the war, the coupon-clpping -individ-
uaS of this country constituted a small and
exclusive class. Now, one out OF every three
persons in the United States has the coupon
clipping habit. Twice every year each OF the
thirty million will go to the safe, or some
other place where the bonds are securely tucked
away, clip off the coupon, present it at a
bank and receive the interest. Such trans
action mikes you feel like a millionaire whether
you are or not.
The next clipping day is the fifteenth of
September. That's the day when you get out
the Liberty bonds pick out those labeled Third
Liberty Loan,' take 'em to the bank and get
your share of the $88,75O98t.8t that Uncle Sam
pays to holders of these securities on that day
The fifteenth of October is another pleasant
day, in the same fashion, and so is the same
date in November and December. The govern
ment has chosen the fifteenth day of eight
months to honor as interest dates for the Lib
fell March IS Others are April IS, May
IS, June IS and then none until September IS
Totalling all of the amounts paid in inter
est by the government on the various issues
of bonds and notes, the sum for the year makes
the nations operating expenses for such old
fashioned years as the three which preceded the
war look rather picayune In 1910, Uncle Sam
will have to pay $810,O0O,00O of interest on
government securities In 1914, congress appro-
priated $684,757 ,276.26 for the running of the
government. Uncle Sam was even more frugal
in 1915, spending few million dollars less,
and in 1916 it cost about the same to the
country.
You realize how war boosts the cost of liv-
lSr,or foH
our war bill of about thirty billions. of dollars
It's pleasant to clip the coupons and have
the man behind the screened window push
out S2.12 for each AZ per cent 800 bond you
own. You get this much twice year But
when you start wondering what will happen if
everybody who gets dip into this big money
starts spending it, it may make you some
what nervous.
If everybody decides to spend his share of
the $S8, 900 that will be paid to people all
over the country on September IS, what will
happen?
There will be just that much more money in
circulation, and more money in circulation
means that prices must 60 up.
And if the people of the country in one
year spend more extra money than it cost
annually to run the government a few years
ago, the present shortages in food and cloth
ing and all of the other things people buy
obviously will be increased and this again will
| boost prices
But there are other things to do with money
besides spending it. The majority of people
who bought Liberty bonds saved the money
with which to buy them out of their earnings
They do not need the interest money for their
living expenses. This interest money is vel
vet and therefore it can be saved most ad-
vantageouSly. The government is yearning to
borrow it. and to pay an even better interest
rate for it. BY putting the interest money right
back into government security in the form OF
War Savings Stamps, it can be Immediately put
to work and made to earn four per cent, COM
pounded quarterly.
The government debt is an interesting thing
to study 1t indicates that some of the SOW
ereign American people have been very care
less There is a column in the national ledger
headed, "debt upon which interest has ceased"
The item amounts to more than 100000 In