Greenbrier independent. [volume] (Lewisburg, Va. [W. Va.]) 1859-1980, 1919-04-18
VOLUME So
VICTORY LOAN FOUR AND A half
Rlil IONS.

-. tho Treasury, gave out on the
,,.h the following statement touch
;,a the Fifth and last Liberty Loan.
.ne drive for which will open Mon
;av the 21st. His statement fol-
lows: Il
..Tbe Victory Liberty Loan, which
wir be offered for popular subscrip-
ron on APRIL FL, will take the form
n;4Y per cent. three and four year
,onyertibe gold notes of the United
states. exempt from State and local
,,xes except estate and inheritance
,ayes and from normal Federal in
come taxes. The notes will be con-
rertible, at the option OF the holder,
,hroughout their life into 3A per.
rent three and four year convertible
.old notes of the United States, ex-
empt from all Federal, State and To-
raj taxes, except estate and inheri-
rance taxes. In like manner the 3 y
ner cent. notes will be convertible
into the AZ per cent. notes.
The amount of the issue will be
si.500,OOO.0O0, which. with the de-
Ierred installments of income and
profit taxes payable in respect to last
years income and profits, during the
neriod covered by the maturity dates
Of Treasury certificates of indebted
ness now outstanding, will provide
fully for the retirement of such GER
tifcates. The issue will be limited
10 81 100000, except as it may
be necessary to increase or decrease
the amount to facilitate allotment.
Over-subscriptions will be rejected
and allotments made on graduated
scale similar in its general plan to
;hat adopted in connection with the
First Liberty Loan. Allotments will
he made in full on subscriptions up
10 and including $4,000.
The notes of both series will be
dated and bear interest from May
2oth. 1919, and will mature on May
20. 1923. Interest will be payable
on December Is, 1919. and thereaftarl
semi-annually on June 1 5 and Deem
Der Is, and at maturity. All or any
ci the notes may be redeemed before
maturity at the option Of the United
States On June 15 or December 10,
1922, at par and accrued interest.
In fixing the terms of the issue,
The Treasury has been guided largely
by the desire to devise a security
which not only will prove attractive
10 the people Of the country in the
FIRST instance but the terms of which
should insure good market for The
aft hn poio &c,
identical prices for the two series,
and should net affect injuHously the
market for the existing bonds of the
Liberty loans.
This will be the last Liberty Loan.
Although as the remaining war bills
are presented further borrowing must
be done. l anticipate that the re-
quirements of the Government, in ex-
cess OF the amount Of taxes and other
income. in view of the decreasing
scale Of expenditure, readily can be
financed by the issue of Treasury
certificates from time to time as here
'ofore, which may be ultimately re-
'anded by the issue of notes or bonds
charge of United States Marshal
"''hout the AID or another great pop
ular campaign such as has character
Ned the Liberty Loans.
am sure that the people of AM
erica will subscribe to this Victory
Loan in the same spirit of patriotism
winch they have shown in the past,
10 the end that the notes may be as
widely distributed as possible, and
tai our banking institutions may be
'c't Tree to supply the credit neces-
S'Fy for the purpose of industry and
'ommerce and the full employment
VI labor Let the world see that the
p'trlots of America, out of their
'ouhdless resources and with the
same enthusiasm and devotion to
,ountry with which they prosecuted
'Ie war to a victorious conclusion,
"'e determined to finish the job"