The Mellette County pioneer. [volume] (Wood, Mellette County, S.D.) 19??-1971, 1919-04-04
Liberty Loan Workers of the
Seventh District Tell Glass Is
sue viii Be Subscribed.
MEETING HELD IN CHICAGO
Secretary OF Treasury Declares sour
Honor Is Pledged to Preserve What
Has Been Won by Those Boys
OF Ours Over There"


of the speech Of Secretary of the
Treasury Glass before 100 Liberty
Loan workers at the Hotel La Sale
here was interrupted by some one M
the speakers table, who called out:
Make Ii five per cent?"
The secretary dropped the manu-
script from which he was carefully
reading and made vigorous reply;
There is a gentleman present who
thinks the loan would be more attrac-
tive at five per cent. l want TO say
TO you that the loan looks attractive
to me regardless Of the rate of inter
est.
Our honor is pledged 10 preserve
what has been won by those boys Of
ours over there. The honor OF the
nation, which is u honor, is at stake,
and / would give every dollar I have
and every dollar ! ever expect 10 make
before l would diShonor the memory OF
those men. Five per cent interest does
not concern me"
But the secretary was answered
when he had closed his speech. The
chairman called upon Abner Larned
OF Michigan who confessed 70 being
"in a way" a Detroit banker. but
said that principally he is a manu-
f~acturer Of overaTS
There are two things we beg OF
you, Mr.. Secretary" said he. First,
that the treaty OF peace be signed
as quickly as possible; and second.
that the rate of interest on this bond
issue be made so attractive that we
can put il over in record time.
1T is your duty and privilege. sir,
TO fix the rate, and / will not now
suggest what / think ii ought 10 be.
But / do want 10 remind you, sir, that
whatever be the rate, ii will be paid
to the 20,OOO,0O o bond buyers we have
developed in this country, and l for
one will lot begrudge 1t to them"
The audience leaped TO its 1900
approval.
This scene was the sequel to a con-
fernce earlier in the day, when five
of the Liberty loan leaders met the
secretary and argued with him for
a rate of five per cent on the fifth, or
Victory Loan" He did not say what
he would do, but he gave the com
mittee the impression that the rate
would be lower.
Secretary Glass promised that this
would be the last loan on the war
account and the Liberty loan organiZa-
ton would pass out Of existence when
is put over"
At noon Mr.. Glass was a luncheon
guest of the Chicago Press club, where
he addressed editors and publishers
of local newspapers and trade journals
and met financiers and business e
II am told in a rather disconcerting
way by men of steady judgment and
tested patriotism that we must ap-
the problem of future loans In
n distinctly cold-blooded mood" said
Mr.. Glass In his evening address;
that things have assumed a different
our attitude of mind and heart
10 ulkNICu We ihuSt SOioRuCi iC Aiut
ter strictly from an investment point
of view, and put the loan on a com
mercial basis.
"Some men tell me it will be i'm
possible again to appeal to the pa
triotism of the American people.
Frankly. gentlemen, l should despair
Of my country IL these things were
true.
What is meant by the sacrifices
of war for America? Where are our
devastated fields and ruined cities?
Where our cathedrals destroyed and
homes p~rofaned? Where u flooded
mines and pillaged factories? Where
our lost treasures and purloined
works of art? Where u defled wom-
en- and starved children and wrecked
France. and Britain lost millions Of
men killed and millions of others
wounded. Less than 10000 American
heroes sleep beneath the sod Of
France. These men made the supreme
sacrifice. Should we dishonor their
memories or diminish the glory of
service by pausing in the cheer
full performance Of an imperative
duty?
I'VE call this last the Victory Lib
erty loan. 1t Is that and more. 1t is
a Thanksgiving loan.
A convention Of the war loan organ
zation Of the Seventh Federal Reserve
district was held at Hotel La Sale
with representatives from Illinois,
Wisconsin, Indiana, Michigan and
Iowa