Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1919-03-21
FIFTH LIBERTY LOAN
OF VICTORY LOAN NE
81 CESSARY TO MEET COUN-
TRY'S OBLIGATIONS -.

The idea that there may not be a
Fifth or Victory Liberty Loan and the
bonds or notes widely distributed
among the people of the United States
is advanced only by those who are
mlsinformed or who are desirous that
this last great loan should not sue
ceed. :.
It is absolutely necessary that there
be 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
tifcates Of indebtedness sold to the
banks which are but a form of antici-
pating 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 to finance business enter
prises, and the commercial life Of the
country would be slowed up.
There. must be a Fifth or Victory
Loan drive, and the bonds must be dis
tributed among the greatest possible
number Of citizens. 81
America went into war without self
ishness and with high purpose. Ger
many was dismayed by our enthusiasm
and power, she showed the white flag,
gave up her dreams Of conquest, took
the count, and the United States flag
now flies from the strongest Hun for
tress.
Nevertheless, the heroic job which
opkorol fo; ;,.h nc w. o11xr or1 nor.
ried on so effectively is yet to be finish
ed. So now we whom posterity will
consider worthy the name Of Patriotic
Americans must "carry on' until our
debts are paid and the suffering world
is taken care of and the war-ruined
lands built up.
We cannot believe 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 mon
ey so that America can finish its job
do not stop to consider that had war
gone on as was expected, for months or
possibly years, we would have had not
one more loan but many and would
have sacrificed the lives Of hundreds of
thousands of boys who are now coming
home to us. When they do consider
these things, they will enter upon the
work necessary to put over she Victory
Liberty Loan with a true spirit of
gratefulness, and make the Fifth the
loan of thankfulness.
A few facts should help to make
clear the Governments need and the
individually duty:
Up to November s, 1918, the war
cost the United States $2l,000, ,OOO, 600,
of which we have loaned to our allies
practically $s,00O,000,000, and have
spent ourselves over $13,000,000 COO.
The estimate of the Secretary of the
Treasury is that the expense Of the
first six months Of 1919 will be approx
imately $10,500,000.
The huge sum. must be had to finish
the Job, and the size of it is largely
accounted for by the necessity of the
settlement of war contracts which had
to be made, and which in themselves
played an important part in the quick
finish Of the conflict.
All these obligations must be met.
The wisdom of making the expendi-
lures must be decided by the men whom
we have chosen to carry on the bust
ness Of our Government. 1t is not our
business to question their wisdom dur
ing a crisis. They are acting for us
and the obligations they make are our
obligations. If they have not been
proper ones, there will be time when
we can bring them to account. Unt1'
that time arrives, it is case OF ours
not to question why-ours to go out
and buy.
These facts speak for themselves
The Government has promised and is
taking the necessary legal steps to en-
able It to pay a billion dollars, which
it is estimated will be the difference
between the market price Of wheat and
the guaranteed price Of 1926 per bush
ell. It is interesting to know that the
Ninth Districts that is our district g
share of this excess will probably be a
quarter of billion dollars, which is
more than the amount Of bonds the
lpeople of this district will be asked to
buy. In other words, the Government
is asking us to lend it the money which
lit will be necessary for it to return in
cash to people on the land and all those
who benefit from the expenditures OF
these people. Surely to us Of the Ninth
District who are facing a period of
prosperity, such as we have never be-
fore known, should consider the coming
Loan a loan of thankfulness as we'll as
of Victory.
Yours for the Victory Liberty Loan,
r. B. Millard,
e. County Chairman
The Professional Five Hundred club