Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1919-03-01
SATURDAY, MARCH I, 1919.
THE FIFTH LOAN.

The Fifth Government Loan, which
is to be distributed to the people next
spring, will find Americans in all
walks of life in particularly good shape
TO participate largely.
This, It is pointed out by the Gov
eminent authorities, is fortunate, for
Uncle Sam will have to ask for very
large amount in order to meet his re-
naming military outlays. The pro.
ceeds of the Fourth Liberty Loan were
all exhausted by December !, and
since then the Government has been
borrowing money from the banks to
meet its current bills. These have
been heavier since the signing Of the
armistice than before, as the liquidat-
ing OF the war machine necessarily
entailed considerable augmentation.
The American people in the first
three Government loans, furnished the
money with which to construct the
war machine. The Fourth loan saw
1t we'll into the victorious drive that
ended the war. But the concluding
battles, the weeks of expensive delay
since the amistice, the bringing home
of the men who are to be discharged,
and the liquidating of the war con.
tracts must all be paid for with money
to be rasied in fifth great popular
appeal.
The record of business failures In
the United States for the year 1918
shows that American business men
L.. 30, Iya Ia
subscriptions to the Fifth Loan. The
twelve months just closed say only
9,9S2 failures. This compares with
1885 in 1917, 1898 in 1916, and 49,
1916 in 1915. This shows, for 1918, a
$50 decrease. The total Is the
smallest since 1899, when there were
1887 failures. BY reason Of the
great increase in the number OF bust.
ness houses In the country since
1899, the 1918 failures are relatively
even much smaller than then.
Farmers everywhere are making
the greatest returns in history.
Wheat is pegged at SEQ and the
Government is also practically guar
anteeing the price of hogs and corn.
Among wage earners, despite the
high cost OF living there Is a marked
general prosperity. The average
yearly wage of the United States
Steel Company employees is now ST.
574, against 1905 in 1913 and 1869 in
1902, 120 percent increase, The in
crease In the last five years is 74qo,
Common labor, receiving 81 day be-
hA 60 IN
So. Skilled men now get on the
average from Sc TO $50 day and few
get as much as SIS a day. In the
Seattle shipyards men are getting SIS
a day.
Railway wages have been advanced
500, OO0, 900 per annum in the last
year, following a S100,000,000 advance
given by the Adamson law. The fol
lowing table shows the relative pay
in 1914 and now and may be taken
as a minimum Of the advances in
nearly all fields OF employment
Office boy, per week. $ 500 1S,4C
Minor station agent,
per month. 7i75 1920
Baggage man, per
month minimum. 72.SO 144.4C
Drawbridge deck hand 5000 1888
Car repairer or black
smith, per day....... 5.22 9,52
Plain carman, per day. 4.O2 81
Ticket clerk, per month 1880 1921
Ticket clerk and tele-
phone operator per
month ............. 1888 1920
Out in the country, farm hands who
used to be happy over $50 a month
with board, are now getting as much
as IS a day.
The cost OF living has, obviously
taken up much OF the gain in wages
and profits everywhere, but there Is
still left handsome margin. The
public, in 1914, could have bought
bonds In tremendous amounts and
since then, taking the country by and
large, profits and wages have mounted
more than living costs. When the
Fifth Loan is offered TO the public in
the spring, Uncle Sam will be de-
cidedly unwilling TO accept any plea