The Devils Lake world and inter-ocean. (Devils Lake, N.D.) 1915-1920, 1919-04-09
The Fifth of Victory Loan Must Re
Subscribed by People of the
Whole Country.

~A~ ~~S - 49,
loan and the bonds or notes widely
distributed among the people of the
United States is advanced only by
those who are misinformed or who are
DESTROYS that this last great loan
should not succeed.
It is absolutely, necessary that there
be a fifth loan, subscribed by the peo-
pie of the country
First: Because by the middle Of
April the Treasury Department will
have expended six billion dollars, OBJ
tanned from the sale Of short time Ger
tificates of indebtedness, which are
but a form of anticipating the returns
from bond sales.
Second: Because if the banks sub
scribed the immense amount Of money
necessary to be raised they would
have no money left with which to fin
ance business enterprises, and the
commercial life Of the country would
be stagnated.
It will be readily seen from these
two facts that, as Secretary Glass has
stated, there must be a Fifth or VIC
tory Loan drive, beginning not later
than April Fl, and that the bonds or
notes and it does not matter what
these securities are called, must be
distributed among the greatest pos
sible number Of citizens.
America went into war without sell
ishness and with high purpose. We
.chieved vastly. Germany, dismayed
~ our enthusiasm and power, feign-
ed a knockout, took the count, and the
United States flag now flies from the
strongest Hun fortress.
Nevertheless, the heroic job which
We entered so f~airheartedly and car
ried on so effectively is yet to be fin
ished. So now we whom prosperity
will consider worthy the name of pa
triotic Americans must "carry on"
until our debts are paid and the suf-
fering would is rehabiitiated.
It is not conceivable to think that
now when the disease Of autocracy has
been cured the American people are
going to refuse to cheerfully pay the
doctors and the hospital bills.
People who now hesitate about con-
tinuing to give of their time and
money so that America can finish its
job do not stop to consider that had
the war gone on as was expected, for
months or possibly years, We would
have had not n more loan but many,
and We would have sacrificed the liv-
es of hundreds of thousands Of boys
/whoare now coming home to US.
When they do consider these things
they will enter upon the work neces-
sary to put over the Victory Liberty
Loan with a true spirit Of grateful
ness, and make the Fifth the loan Of
thankfulness.
A few facts should help to make
clear the Governments need and the
individuals duty:
Up to November 8, 1913, the war
cost the United States $21, 600, 000, 900,
of which we have loaned to u allies
practically $4,000, 000, 900, and have
spent ourselves over 00,000,O 900.
During the first half Of the present
fiscal year the expenses of the Gov
eminent amounted to practically 3d.
oOO, OO0, 900 and the estimate of the
Secretary is that the expenses OF the
first six months Of 1919 will be ap-
proximately $10,500,000,00
This stupendous sum must be had
to finish the job, and the size of it is
largely accounted for by the necessity
of the settlement Of wal contracts
which had to be made, and which in
themselves played an important part
in the termination Of the conflict.
Future expenditures are, of course
problematical, but it is interesting to
know that the cost of u military
establishment for the first half OF
1919 will be approximately $2,OOO,OOO.-
900. For the same period the navy
will require an expenditure Of ST.
500, OO0, 900. Building Of ships under
construction will take $579, 00O, 900
more. Settlement of contracts will
require practically $4,000, 100000. The
interest on the first four Liberty Loan
Bonds will amount to $850,OO0,0 900
We will loan 500, 000, 900 more for re-
construction, and there are huhuIe"
of other items that will require large
sums.
All these obligations must be met
The wisdom of making the expendl-
lures must be decided by the men we
have chosen to carry on the business
of our government. It is not our
business to question their wisdom dur
ing a crisis. They r acting for US
and the obligations they make are ou1
obligations. If they have not been
proper ones, there will be a time when
we can bring them to account. Until
that time arrives it is a case OF OURS
not to question why-ours to go out
and and buy.
These facts speak for themselves
To the people in these wheat-grow'ng
communities in the northwest it will
undoubtedly be wise to suggest that
the Government has promised and il