The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1919-04-28
LOAN PAYS BILLS
FOR SAVING LIVES
Director Franklin Shows That 1t
Was Americas Great Force Of
Men and Munitions That
Forced German Surrender.

Lewis b. Franklin. director of the
Treasury Department, War Loan or
ranization. in an address before 400
Liberty Loan chairmen in Boston,
declared that the sacrifice of dol
lars in great expenditures and the
production of war materials had been
he salvation Of thousands Of Ameri-
can lives,
lie declared that Germany realized
that the vast accumulation OF men
md material meant her humiliation
Il she continued to fight and conse-
auently surrendered long before her
collapse was expected.
Mr.. FrankliA pointed out that the
enormousl disbursements involved in
maintainihg this gigantic war pro-
gram had already consumed more
han $4,000 100000 raised by the
Fourth Liberty Loan and made it es-
bential for successful Finishing
Fifth victory loan to restore the
tountry to a normal peace basis.
When l think OF whst New Eng
and did in the fourth loan" said Mr.,
Franklin. ~ have no thoughts OF fail
ire for the fifth loan in. this federal
reserve district. N.;l
"h is Atdangerous suggestion that
be bankA take the burden OF this
can 1t Would hamper Industry in
every Injection. Factories which
urned toItbe governmentfor financial
lid in their war material production
pannot return to peacetime basis
IN government aid, but must look 10
he banks.
What can the banks do in such
asses IL they are already over-burd-
med with government securities? The
hinE,'to do is to take the loan out OF
he banks and put it into the hands
4 the people,
THAT is what will relieve unem.
Pleyment and will result in better
Eages. IT. will serve to bind more
trcngly the community spirit which
> the saly Ston Of Afnesiea,,t;iIs:ss,.y
Nj referItSng TO the need oe ths VIC
DRY LoaHE Mr.. Franklin poiiNeds' on
hat the vMr production of the United
states hay hardly reached china,
when thelMrmistice was signed.
BesidesHlmaliig huge loans tC
tally andRussia, the United States
e said,i h developed a gas program
ever beffbe dreamed of and in one
liant wasEhanufacturing three time!
much 1A3hs as all the other allies
ombinedNN
Thousands Of rifles man lfaCtured II
Imerica and shipped to France hat
ever ire& but this abundance OF wa
lateral which there has been NJ
sc sinceiMe signing Of the armistic,
Tas togetr with the steady flow o
Citing M by the hundreds o
housandMhe thing which broke thu
qck OF Qfmany's offense and force,
surrendSf OF the Central Powers
nd in thH way prevented the loss o
YES Of American soldiers to the mum
certain}H 100000 men and possibl,
bore. III
The billS that must be paid by th'
overnmeht with the Victory Libert.
|oan are bills OF thanksgiving as wei
peace, becaa of the certaint.
bat the early en- ne Of the war save,
hese gallant An rican soldiers.
II was not to tc American army il
be, field that the Germans surren
cred so soon, burt to the immens
npply of fighting men and war ma
hinery that was Just beginning L
bur across the Atlantic.
The peak load of war expenditur
lme in November December an,
snuary. From s2,o60,s75,S54 in bill
hid. in december the total in Feb
AZ DROPPED to s1,1S4,4l2,4SS. Blu
e nationshs$ already cpiled np
,ating debt Of nearly $4,000, 5000
hich must be assumed by individual
ttriotic'inyestors. 'sf ff