The Western news. [volume] (Libby, Mont.) 1933-current, 1933-10-26
Unusual
Ceremony

r.o, interesting n at |
feel 1t should be de-
scribed In these columns The trens-
ury had decided to exercise Its option
al right to redeem portion OF the
gigantic fourth Liberty loan II want
ed to ',call for maturity" approximate
ly one-third of the Issue which now
has a total outstanding In excess of
sc. 26S.000.0O0. To accomplish that
purpose. there were certain require
ments of law to be met. and one OF
them was a determination OF which OF
the bonds would be called by 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 1t
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 II
1t so desired. Money market condi-
lions made 1t seem likely that bonds
bearing a cheaper rate OF interest than
the Az per cent carried by the fourth
Liberty bonds could be sold. II 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. 1t was felt that only por-
tIon OF the big issue could be resold
| at this time. SO only one-thlrd OF It was
| called.
| Knowing OF the program, 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 1t was a glass bowl. At the ap-
i pointed time, an attache OF the treas
/ ureris office deposited ten envelopes
In the bowl. Each was neatly rolled
and held BY rubber band. Each en-
i velope carried formal order directing
/ the retirement of certain portions OF
the issue and stating that Interest on
those bonds would cease rs of April
Is, 1894, 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, dignified, Dean
Acheson, nndersecretary of the treas
urv. entered the room. There was
much taking of pictures, stills and
movies. Mr.. Acheson then reached
into the bowl and drew therefrem an
envelope. 1t was opened BY Frank
Birrfeld the treasury's chief clerk.
Mr. Acheson read its contents aloud. 1t
said that fourth Liberty bonds whose
numbers ended In the digits "
or II" or whose letter designations
were either ~" "Kn or "A" we're
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 s1o,000,000 a year, because
the bonds called total S1,875,OO0,OOO-
Secretary Hull, of the State depart
ment. apparently has had stomachfu
of warrant
Germany German, or rather
Hitler. assaults or
American citizens by
Hitlers storm troopers, and has asked
nointedly what Is being done about
ending such indignities. He will b.
FOLD. OF course, that efforts are beint
made to punish the offenders. but
think 1t is no longer secret that Int
Washington government is not at al
satisfied with the way Hitler and hi
cohorts are treating citizens OF othe
: nations. Indeed. believe | can SCI
signs that the Washington administra
ton is growing bit cold on Hitler
himself
I The incident may or may not pro
duce anything. 1t Is possible that Tn
secretary OF state may take tina
step. as bold as 1t Is rare, OF issuing
proclamation that the United State
: cannot guarantee the safety OF Amer
! lean citizens In Germany. The bes
e Judgment I can obtain Is that TIL
: stape will not be reached In the cor
{ troversy. Because. to make such
I declaration is an action between nt
!. lions as bitter as applying the shor
y and ugly word to an Individual. y
7 the other hand. attention must b
called to the latent dangers In the 81
: nation and one must consider as we
Q that Hitler is playing far-fung gam
G To washington observers, the earl
L adyices in response to Mr.. Hull's orde
I 10 check up Oh punishment OF storl
J, trooners who have assaulted Amer
G cans have meant nothing but that tn
u Nail chieftain was lodging the issu
q When his foreign office said "effor'
were being made" to catch the offen'
II ers. the corps OF students of the 81
e nation here Immediately calculate
a that slang. but quite effective, e.
u preston. "Ohl YEAH For II Is
q be remembered that Mr.. Hitler ht
ie complete domination of German affair
u and that under conditions where Il
x ,,ctatorchip "a 90 comnlafp1y in co