The Daily Alaska empire., 1944-01-17
Unde Sam Has Always Resorfedto 10 War Bonds
 In Ali Struggles; Now
 Is Time 10 Help Again
AP FEATURES

IL llicb do IldlQ lOl dll ollllN NN march on an empty wallet as or an empty stomach, and an empty feeling in the wallet has almost wrecked Uncle Sam's armies more than once in historic battles.
 Money troubles were in at the start-and almost ended-the Amer ican Revolution. In the winter of 1776, General Washington was in desperate need of money. He begged Robert Morris, unofficial financier of the Revolution, for 500 pounds to obtain intelligence of enemy movements across the river so he could act offensively.
 Morris gave his personal note as security to friend, Washington received the 800 pounds, and they bought the inf tion that brought victory over the British in the battle of Trenton, N. J.
 Finances In Turmoil
 The nations finances in the war years were almost a farce as l3 independent colonies bickered. Some charged that Massachusetts, having started the war, was trying to pass the cost to her neighbors. There was no national treasury, no credit. The Continental Congress had no power to levy taxes on the people who had revolted against unjust taxation.
 The states were slow to provide for the acquisitions of Congress, and then it was difficult to get money because collection methods were inefficient.
 On the brink of disaster, Congress named Morris superintendent of fi- nance. He stabilized the currency, national bank was created, arrears were collected from the states, and loans engineered from France and Spain.
 At the beginning of the war, fighting Americans outnumbered the British two to one, but fantas- tic financing helped prolong the conflict.
 Private Issues Next
 History repeated when the War Between sthe States started in 1881. Uncertain financing was the rule North and South. Soon a meal in Richmond cost $75, as bond after bond burst from central and local treasuries.
 In the North, Congress taxed lux uries, incomes, corporation earnings, and directly taxed the land. Green backs were issued which were worth third their nominal value at wars end
 Finally, in desperation, the fed eral government resorted to high interest loans rather than to heavy taxes, and the banking house of Jay Cooke, financier of the Civil War, floated federal bonds at liber- al commissions. Cooke organized bond drives" from Boston to San Francisco, reaped profits for the risk.
 When World War I cngulfed Am erica the nation had started learn ing its lesson. With 3,700,000 men under arms, the major burden of expense during the war years was met by sale of interest-bearing securities. Liberty Bonds.
 Instead of selling through syn dicates at generous commissions, the government sold to ordinary citizens in banks, movies and churches. Including the 1919 Vic tory Loan, five blocks of bonds to- talling S2l AS, ,l20,3O0 were sold.
 Again, in World War II, the gov ernment has turned to the sale of small bonds as major method of meeting costs
 The Government has already had three war loan campaigns and all have gone over the top. The pre- sent drive is the Fourth War Loan to bring more certain and quicker victory in the present conflict. Buy Fourth War Loan Bonds.