The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1919-04-15
GLASS ANNOUNCES
LAST LOAN TERMS
kictory Liberty Issue Less Than Five
Billion-Interest Rate fiiga-Par-
4 tiallv Taxed Notes to Command
More Than Those Wholly
Free of Taxation. I

Washington, April 13.-Ter1ns OF
be Victory Liberty Loan were an
ounced today by Secretary Glass
hey are: Amount, S4,5OO,OOO,OOo'
versubscriptions to be rejected.
Interest 4 3-4 per cent. for partl-
tly tax exempt notes, convertible
bto 8. 3-4 wholly tax exempt.
Maturity, four years, with the
.easury reserving the privilege OF
edeeming the notes in three years.
The 8 3-4 per cent. notes, to be is
led later, also may be converted
absequently back into 4 3-4 per
ent. notes.
The 4 S-4 per cent. securities are
be exempt from State and local
xation, excepting estate and in
eritance taxes, and from normal
tes of federal income, taxes. The
3-4 per cent. securities are exempt
ON all federal, State and local
xes except estate and inheritance
xes. = G
The size of the loan was much
haller than had been anticipated by
pst of the close observers, who
pked for an issue of about 6,OO0,-
10, 900, particularly in view Of Sec
tary Glass past statement that the
an' would be for OO,OOo,ooO or
,Oeo, 100000. .....i r, -. b.. ~
- = Last Bond Issue. -
This will be the Liberty Loan,
cretary Glass Sexplained, although,
re viii be other issues of govern
mt securities to. finance belated
r expenses. These will not be
ated by popular campaign.
In many communities the selling
npaign already has begun actively
6hout formal acceptance Of sub
options, said reports today to the
asury, although the official open
date is April. 81, one week from
morrow. The drive will continue
zee weeks, until May 10.
in fixing the terms of the issue,
d Secretary Glass announcement
the Victory Loan, ''the treasury
been guided largely by the de-
: to devise a security which will
only prove attractive to, the peo-
of the country in the. first in
nee, but the terms of which
uld insure a good market for the
es after the campaign is over and
should not affect injuriously the
rket for the existing bonds of the
erty Loans.
This will be the last Liberty loan.
hough as the remaining war bills
presented further borrowing
Bt' be done. I anticipate that the
uirements of the government, in
ess Of the amount of taxes and
er income, can, in view of the de-
asing scale of expenditure, be
Oily financed by the issue of
Rsury certificates from time to
b as heretofore, which may be
mately refunded by the issue of
es or bonds without the aid of an
pr great popular campaign such
has characterized the Liberty
IS.
am sure that the people of Am
a will subscribe to this Victory
in the same spirit of patriotism
th they have shown in the past
he end that the notes may be as
Fly distributed as possible and
our banking institutions may be
free to supply the credit neces-
for the purpose of industry
commerce and the full employ
t Of labor Let the world see
the patriots of America out of
boundless resources, and with
same enthusiasm and devotion
ountry with which> they prose-
d the war to a victorious con-
ion, are determined to finish the
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W. ~ = . - - ~ -, .