The midland journal. (Rising Sun, Md.) 1885-1947, 1933-10-27

uOuldlu because she mas no circuit.
i had the pleasure Of witnessing
quite an unusual ceremony in the
treasury the other
Unusual day, and it was so
Ceremony interesting tina I
feel 1t should be de-
scribed in these columns. The treas
ury had decided to exercise its option
al right to redeem a portion of the
gigantic fourth Liberty loan. It want
ed to 'scall for maturity" approximate
ly one-third of the issue which now
has total outstanding in excess Of
$6,26S, 100000. To accomplish that
purpose, there were certain require
ments Of law to be met, and one of
them was determination of which Of
the bonds would be called by a meth
cd Of chance.
The great issue, sold during the
strife and strain of World war days
and on the basis of patriotic appeal,
was not due to mature until twenty
years after its issue, which made it
mature in October, 1888. But when
the government sold the bonds, 1t re-
served the right to call them for re-
demption five years before maturity IL
it so desired. Money market condi-
tons made 1t seem likely that bonds
bearing cheaper rate of interest than
the AZ per cent carried by the fourth
Liberty bonds could be sold. If they
could, the government, which means
the taxpayers, could save money on
interest. Hence, the determination to
call part Of the issue and, hence, the
ceremony. It was felt that only por-
tion of the big issue could be resold
at this time. so only one-third of it was
called.
Knowing of the program, l went in
advance to the lobby Of the undersec-
retary's office. A tall, wooden ped
estal stood in the middle of the room.
Atop it was a glass bowl. At the~ap-
pointed time, an attache Of the treas
urer's office deposited ten envelopes
in the bowl. Each was neatly rolled
and held by rubber band. Each en-
velope carried formal order directing
the retirement of certain portions of
the issue and stating that interest on
those bonds would cease as Of April
Is, 1884, the future date being neces-
sary because the bonds themselves
stated that notice of six months had
to be given in case of redemption in
advance of actual maturity.
Presently, the tall, dignifed, Dean
Acheson, undersecretary Of the treas
ury, entered the room. There was
much taking of pictures, stills and
movies. Mr.. Acheson then reached
into the bowl and drew therefrom an
envelope. It was opened by Frank
Birgfeld, the treasury's chief clerk.
Mr.. Acheson read its contents aloud. 1t
said that fourth Liberty bonds whose
numbers ended in the digits '9' 20"
or 81" or whose letter designations
were either 81" tx" or "a" were
called for redemption. That meant
that anybody holding any Of those
bonds either would have to turn them
into the government or lose interest
on them after next April.
The new issue will bear only 31a per
cent interest, so that the saving will
be almost $19,000.O00 year, because
the bonds called total $1,S75,000,000.
Secretary Hull, Of the State depart
ment, apparently has had stomachful
of un arran d
Germany German, or rather
R....~s.. Hitler. assaults on
American citizens by
Hitler's storm troopers, and has asked
pointedly what is being done about
ending such indignities. He will be
told, of course, that efforts are being
made to punish the offenders, but ]
think 1t is no longer secret that the
Washington government is not at all
satisfied with the way Hitler and his
cohorts are treating citizens Of other
nations. Indeed, believe / can see
signs that the Washington administra-
ton is growing bit 'cold" on Hitler,
himself.
The incident may or may not pro-
duce anything. It is possible that the
secretary of state may take that
step, as bold as it is rare, of issuing a
proclamation that the United States
cannot guarantee the safety of Amer
lean citizens In Germany. The best
Judgment I can obtain is that this
stage will not be reached In the con-
troversy. Because, to make such q
declaration is an action between ma
lions as bitter as applying the short
and ugly word to an individual. On
the other hand, attention must be
called to the latent dangers in the sit
uation and one must consider as well
that Hitler is playing far-fiung game.
To Washington observers, the early
advices in response to Mr.. Hull's order
TO check up on punishment of storm
troopers who have assaulted Ameri-
cans have meant nothing but that the
Nazi chieftain was lodging the issue.
When his foreign Office said efforts
were being made" to catch the offend
ers, the corps of students of the sit
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