The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-03-13
Loan Drive
April 21st
To May 10th


Victory Liberty loan campaign will
open Monday, April 21, and end Satur-
day night, May 10.
The treasury to-day determined on
these dates and Secretary Glass is ex-
pected to issue statement soon ex-
planning tho difference between Lib
erty bonds and Liberty notes, issuance
Of both OF which have been authorized
by congress for the Victory loan. He
will not disclose until week or two
before tho campaign opens the exact
terms of the securities. The prtnci-
pal class Of securities to be offered,
perhaps the only class, Will consist OK
notes, although tho treasury Is con-
sidering an acrangem by which
these could be converted later Into
long term bonds.
WASHINGTON, March 12.--The Vic
tory Liberty loan campaign will open
Monday. April IL and close three weeks
later-Saturday. May 10.
Secretary Glass announced the dates
tonight. together with the fact that
short term notes, maturing in not over
lve wears. would be issued instead OF
notes to be offered was not disclosed. but
it has been generally understood that
the. loan would he for minimum OF
S5. 0n0. G00, 900, with the treasury reserV-
ing the right to accept all ovcr-subscrip-
tionS
Mr.. Glass said the interest rate on The
notes and the amounts 10 be exempted
from taxation would not he determined
until a. week or Two before the campaign
ms they would be based upon financial
conditions at that time. 1t was lnu-
mated that the notes might bear interest
In excess of Al per cent .lhe rate on
The third and fourth loans.
After studying financial conditions IN
all parts of the country" said Mr.. Glass
Il have determined that the interests
Of the United States will be best served
at this time by the issuance or short
term notes rather Than OF longer term
bonds which would have 10 bear the
limited rate of interest Of AZ per cent.
THE Victory Liberty loan will. there
fore take The form Of notes or the
United states maturing in not over I'VE
wears from tho date Of Issue. ThcS"
notes Will be. as were the Liberty loan
honds. th.. direct promise 10 pay OF the
United States. will he issued both IN
registered and coupon form. and the
common notes will be in final form anu
will have attached tho interest coupons
covering the entire life of the notes. l
am hopeful that tho notes in fnal en-
eravcd form will he ready for delivery
by The opening Of the campaign on
April II.
Il am led to adopt the plan OF lssu-
ing short-term notes rather than long
tcr1n bonds largely because OF the TACT
that I believe that q short term issue
will maintain a price Of about par attcr
tho campaign is concluded lar more
readily than would n longer term issue
II have not yet reached conclusion
rs to the rate Of interest and eNemp-
lions from taxation which these notes
will bear, because this decision must be
based on existing conditions immedi-
.,cIv prjor to the opening of the cam
pagn.
II take this opportunity to repeat
what have already stated. that it is the
intention Of the treasury department to
carry on the same kind of intensive
cnnnaign for distribution as heretofore.
II would be n most unfortunate occur
renee if the people Of tho United states
fniIed TO take these notes. thus placing
the subscriptions on the banks. The
business Of the country looks TO the
Thanking system for credit wherc-with
10 carry on its operations. and If this
credit is absorbed to largo extent by
the purchase of government securities,
there will hc many limitations placed
upon the supply Of credit for business
pIlru,scs. Our merchants and manu-
f.ct,lrcrs need ample credit for setting
the wheels Of industry in motion for
pcucc time production and distribution.
and the wage Garner is directly inter
rsted in seeing that these wheels are
kent. moving at n normal rate in order
that full employment at good wages may
continue. and where rcadjustment con-
ditions have nrccssitated slowing down
of Industry, il is vitality important that
activity rc resumed and labor re-em-
Moved NJ the earliest possible moment
II therefore ask the American people
once again 10 give their support TO their
government in order tina; this great loan
ma, he made an overwhelming success
I,y tn. widest possible distribution"
.-------------------
WILL NOT OBJECT