Evening star., 1942-01-07
Board Of Trade
Se||s$1,326,200
Defense Bonds
Campaign Passes
Goal, but Drive
Will Go On

outtCu NY WIG 4vASAAbCAo3 SSAAA-
mittee of the Washington Board Of
Trade among members Of the Or
ganization and their friends has
produced total of 81, 1926 200 to help
finance the Nations war effort, the
board was informed last night as it
met to review phases Of Washing
tons defense preparations.
Results of the drive. announced
by Chairman Thornton w. Owen
of the Membership Committee, drew
praise from UnderSecretary OF the
Treasury Daniel w. Bell and Harold
M. Graves, assistant to the Secre-
tary of the Treasury In charge OF
Defense bond sales, who addressed
the gathering at the Mayf1ower
Hotel.
Col. Lemuel Bolles, executive
director of civilian defense for the
Washington metropolitan area, who
appeared before the board several
weeks ago to warn that the civil
protection program was tagging be-
hind that of other cities, told the
members last night that Washing
ton now does not have to apologize
for its civilian defense program.
Praises City's Effort.
1T is no longer Tagging" he de-
clared. The people of washington
are doing a marvellous job in
patriotic and spirited way"
Col. Bolles also praised the trade
board especially for its work in Or
ganizing industrial and commercial
establishments for protection in
emergencies. He said the training
school conducted under the sponsor
ship of the board yesterday and
Monday had proved of great value.
Col. Bolles added, however. that
1000 additional auxiliary firemen
are needed.
The original goal of the defense
bond drive, $1,O00.0O0, was over
subscribed and Chairman Owen
told the members that the campaign
probably would reach the $4,000, 900
mark. Sales will continue on an in
formal basis. He said most of the
purchases of defense securities were
made by the more than $500 men,
bers of the organization.
The drive, launched December Is
and conducted on competitive basis
by units of the membership commit
tee, officially ended last night.
Sales of Defense bonds throughout
the Nation have multiplied since the
japanese attack on Pearl Harbor,
Undersecretary Bell told the gather
ing in reporting that the total during
December was $500 900 900. which
was double the monthly average for
the period between May and No.
vember.
He warned, however, that the Ma
tion's gigantic war program calls for
a systematic purchase Of Defense
bonds, curtailment of civilian spend
ing and cheerful acceptance" OF
taxes needed to help finance the war
effort. The Treasury, he said, wants
to make pay day bond day and is
making special efforts to have the
Nations wage earners participate in
the program on systematic basis.
There is no time to lose" Mr..
Bell declared. Every day that we
delay with the production of vital
weapons will prolong the war. The
President said a few months ago
that our production of war mate
rials must grow until it is a mighty
torrent. In the same way, the flow
Of dollars must increase until that,
too. is mighty torrent. I am
confident that you, as the leaders
of business in Washington, will not
fail to do your part In this effort
that is so vital to the winning Of the
war"
Mr.. Bell said every firm, large or
small, should set up savings plans
for the convenience of its employees.
Cites British Effort.
Mr.. Bell SAID the people Of Great
Britain bought war securities in an
amount equal to 10 per cent of their
national income, and he voiced
confidence that the American peo-
pie would respond wholeheartedly
to this Nations war financing pro-
gram. The Undersecretary declared
this country must do in two years
what Hitler did in seven"
He said the United States should
do even better than the British be-
cause our limit on individual hold
ings Of savings securities is much
higher than theirs.
Mr.. Graves said the sale Of De-
fense bonds was being carried on
successfully because of "the CO.
operation Of patriotic organizations
and individuals" He said the board
had established an excellent record"
in its campaign.
Reporting on plans for the boards
Forthcoming midwinter dinner,
Chairman Harvey L. Jones of the
committee in charge of the affair,
said that less than 100 tickets were
still available. The dinner is a SELL
out every year.
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