Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1920-12-22
THE SCRAP HEAP =
TELLS THE STORY
OF ANY CONCERN.
The Man Who Disposes of His Llbsrty
Bonds Is SeraPpino His Best
Financial MaehT--y.
CANNOT BE IMPROVED ON
The Wise Men Are Holding On and
Putting Surplus Earnings In Treas.
ury Savings Certificates.

A pretty accurate indication of the
efficiency Of any railroad can be
gained by watching what goes on the
scrap heap. To move traffic, motor
| power is the first essential. What
kind of comments to you suppose
would circulate over a railroad system
If someone should suddenly decide TO
scrap every engine in service and in
stall some new and untried LOCOMOTIVES
model operated solely by hot air? Can
you imagine what the superintendent
of motive power and the master me-
chanfcs and the round house foremen
and the dispatchers and everyone con-
nected with the road down to the
newest call boy would say?
Yet such change IS not only being
proposed but is being made by many a
railroad man for the operation OF his
personal financial road. He Is scrap
ping his Liberty Bonds and putting his
| surplus into hot air locomotives op-
Grated on the unsupported promises
of lot Of wildcat stock statesmen and
promoters. The Liberty Bonds will
get his financial trains over the di-
vision between the present and the
future on schedule and with safety
and satisfaction, but he viii never
make the grade on hot air.
The fact that the present price Of
Liberty Bonds is below par is not an
indication that their real and future;
value is endangered. 1t simply Is an
opportunity for the Purchasing Agent:
to show that he is on the job and
earning his salary. That is what a P
A is for-to know enoug to buy when
standard materials are cheap so that
the road will not have TO buy when
they are dear.
The management, individual or COR
porate which scraps, sells or wastesi
Its Liberty Bonds now is foolish for:
by such action the best security I'M
the world is being sacrificed There,
is no suggestion in the present price
decline that the government has failed
to live up to its bargain with the in
vestors of the nation. 1t has paid and
will pay every cent of stipulated inter-
est and principal. But many persons
who loaned their money to the govern
ment during the war have elected to-
CALI their loans and have forced
their bonds on the market in excess
of absorption with consequent tenn
pOI dry depreciation III prices
The security behind these obliga-
lions is the honor and faith of the
United States and the whole wealth
Of the nation. The only security be-
hind fake stocks is the promise Of a
man or men you do not know and
probably never will see. Among the;
big holders in order to show losses;
which would reduce income and ex-l
cess profit taxes. To this has been
added the wild riot OF spending which
has attacked all classes and which
has been the cause of sacrificing the
savings Of years by many.
Right now, Liberty Bonds are the;
best security in the world to buy and
the last thing which should be sold
If you are an efficient purchasing
agent for your own personal business
you will seize the opportunity. You'll
never make the grade on hot air.
The wise man is holding on to his;
Liberty Bonds and is augmenting his
holdings by purchasing Treasury Saw
ngs Certificates and War Savings
Certificates and War Savings Stamps.
and it is becoming more noticeablel
zach day that fewer and fewer Of
hese securities is being offered on!
he market