Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-02-15
must MAKE NEXT LOAN
ATTRACTIVE TO BUYERS
So Glass Advises House Ways and
Means Committee in ENccu-
tive Session.
TO HELP EXPORTERS, TOO
Asks for ST ,OOO,OOO,OOO to Assist in
Rc-Establi.hing Foreign Trade.
Recommends Issuance of 100000
100000 in Notes.

WASHINGTON. Feb. I4.-Secrctar!
Glass yesterday told the House Way:
and Means Comm;itee il was apparcnt
!. something must be done to make tht
bonds or notes OF tho Victory I.ibc-ty
loan more attractive than their pre-
Gecessors. aud asked that Congress
give him authority 10 fix intercs; rates
and determine exemptions from tax
alton according 10 financial conditions
existing when the loan is ioated.
The secretary also urged that au-
thoTlty be given the War Finance Cor
poradion 10 mako advances TO export
crs not to oNc"rG >i.0"u.oDu,ooV. and
that the purposes for which the Trca =
ury may make loans to foreign gov
crnmenis be broad, ned. MIR Glass said
both provisions wvr" necessary to
restoration OF To- cVuEj"y's foreign
trade
Mr Glass told the committee that at
, III, rate disbursements we're ncin =
made. II was ,ni."r.nt thst ON! =
~dioai reduction IN the r""'' "ins
months of the nScai year Cuu,H i...-
the years expenditures wtt""' "a
sls.0ou,Oloo wn!,n tor"ci .,-.t.-l.y
McAdoo had hoped wouin coNt, Nne
government vNp.nsSs.
Cash disbursements du:inE the nTsi
ten days OF t.n!Iai! showed II very
gratifying decrease. bat Nj. CLASS
pointed out tina, nraNy payments on
inform.l war contracts wer" rciis held
in allegiance until Ion-rrss acted on
pending ieI au"n "itcc,!nS them N
der these Sulu> t.tnsvS and with u
'tioatinE deLs o.. .l.D..tr."u" IN treas
rry CeTt!nCat"s. .a y-.sstts app!u&!-
inatcly Size .vVc," "ontn ne
thought the vomGit,v, "ould not hc
surprised by MS recommendations tor
authorization y. an AuL.!Un.ii se.Qov.-
coo, zoo Issue OF bonds
There remain EniSsuod under pre-.
vious legislation S.shity IN cACess OF
$1,000, 100000.
ADVOCATES ISSUANCE OF
$4,000, u,-u.u0u IN NOTES
IT ,is needless 10 say that the Treas
Dry does not Co.tcmp . lie the issue IN
connecuo. Win the Victory L!bcr-sy
sIg.00o.coo.Qou. MI Glass said.
AS an alternative to the !ssue OF
bonds. he suggested autao- ization o. an
issue OF notes limited 10 sic.euo.Go0.-
eoo, and an increase IN The maNimu III
amount OF Treasury certificates from
$4,000 0cp.GoO X sio.cuo.pv", OpI. not
inaA The three i;em- should be al AL
cumulativcs &ut that me Treasury
should have ;h4 power - dntuce the
governments operations IN tae mos.
econpm.Sa. way
II: may be desirable 10 adopt a.! Of
these me hoGs in succession" Mv. Ola SIS
said Conditions IN Apri! might be
such THAI :; would DC wise 10 issue Il
short-<!rre note. bearing a relatively
high rate OF interest. and carrying
with ! the privilege OF conversion into
bends bearing interest al a lower rate.
and having longer maturity, On the
other hand. II might be uesi:ab!e 10
make an alternative offer OF bonds and
notes, leaving the subscribe" caoice
between the i"o.
Exemption from taxation TO be car
ried by the new bond issue. Mr. Glass
conferred in the first Liberty bond
act nor less ihan exemption from
state and local taxes.
INVESTMENT PIONEERS or
MILLIONS REDUCED
The cessation OF hostil,ies: the
discontinuance OF war work and war
Iatriotic Americans 81 small! means
who subscribed 50 Literally 10 the
Tkey Will. know, subscribe and sub
scribe largely 10 The Victory Liberty
loan. MIR. Glass, said.
Mr. Glass added that il was essen
tia! also TO devise some plans for
protecting the holders OF existing Lib
erty bonds suggesting that additional
exemptions from t"Nation oe given
those who subscribed 10 the new
issue.
Immediate steps 20 set up sink
:as fund tol the tireinoni OF The
war deut MAS recommended.
some mcas are OF governmental aid
curing the transition period is nee
cssary." Mir. Glass said. III we are
10 be able TO export the food supplies
:1IIles desire 10 secure and which II
is 20 our intcasi 10 sell Them"
=, Extension ,,l. q ,.e, i"5Wcrs OF the War
Ein%nce E,ofPoI,fIlon- including author,
10 exceed Sl.UUu, Oou.oO at any one
time would put into play mcthe DIS
approX!matiHG conmcrc!al practice.
Air. Glass said. Without resor, 10 the
Treasury. Funds would lie obtained
through the sale q! Inc curporation's
bonds TO The public.