Word: loan
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Dates: during 1910-1919
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Secretary of the Treasury McAdoo is coming to Boston a week from today to address a mass meeting on the Liberty Loan. He has been touring the country in order to arouse interest among individuals in the loan. The response of the West has been very satisfactory, but what he is anxious to impress on the people is the importance of subscriptions from individuals as well as from corporations. Not only will the people's money be securely invested, but a large popular subscription will indicate that the country is solidly...
...June 5, registration day, all theatres, baseball parks, and other places of amusement will be asked to give their receipts for the purchase of bonds which shall be presented as gifts to various charities. This would be but one more way of giving everyone a share in the loan...
When the Liberty Loan was first announced to the public our press with large optimism proclaimed that the issue would be oversubscribed many times in a very few weeks. Were we not the richest nation on the earth, with wealth estimated at two hundred billions? An absolutely inconceivable amount even to the most universal mind. The loan represented a bare one per cent of our amazing resources. The press declared our banks would be crowded with eager buyers...
That foolish optimism has vanished. We see that the people are not subscribing in large amounts for the loan. It is still a capitalist's investment. For that reason, if the loan does not fail financially, it will fail morally, being not an expression of national confidence and unity, but simply a token of our abundant capital...
...people, those who, while possessing small individual resources yet in the aggregate possess the bulk of our wealth, must enjoy their share of the loan. Not our bankers nor our brokers, but the people, are the nation. The people must be holders of their own bonds. It is a vote of confidence in their free democracy...