Show I Liberty Bond Shrinkage 1 market value of Liberty loan in tho the S SHRINKAGE issues as recorded at the present low levels figures 20 r roundly a loss of distributed among of Liberty band It is probable that purchasers would of tho the purchasers at par did not expect they many that might remain at that but considered any loss rema Ii figure contribution to patriotism This follow additional as an state of mind of those the may 1 bo ho 0 assumed to have havo been had no better bettor way who could rould afford the tho investment in and of helping to win tho the war innumerable others who could not But there thero were view view the tho matter in that light because cause they either invested invest invest- to borrow the ed out of small savings or were obliged money and plc pledge ge the bonds as collateral security bonds bond their Now that the war is over government income return and market value are aze being measured on onan onan onan an investment basis As such the loss of to tho the Liberty bond hond holders or at least to such portion original purchasers as were really of tho tim but did so purely from a f financially unable to invest cst SC sense seno 30 of duty is a n reproach and a 3 scandal to tho the gov gov- t. t al already already nl- nl has the small subscribers Much uch of or the loss to ready accrued and been beon borne by them because of oL forced sales of the eolla collateral ral occasioned by its depreciation and ther there is possibly nothing that can be dono done to make the thO goo good their losses But remedial legislation to bring bonds back to pur par and thus make good an impending will do it The loss should be he resorted to if l legislation to the so so- profits permitting evil that may be lone done by called Cl skinflints who have taken over the Liberty bonds at a discount of 01 10 to 12 per cent and who will ill by the appreciation in their market make lar largo o profits offset the benefits that will accrue to value will be bo by bv the poor but loyal holders There aro are two general views as to the best course courso to tobe be ht pursued Ono One is to retire tho the bonds at par by means of a sinking fund flUId tenth one-tenth each year for ten yea years The Tho Theother Theother other is to refund them into one long term issue paying paying paying pay pay- ing a 1 higher rate of interest The first plan is based the theory that it is better to tax the present generation gen gen- en- en upon cration for tho the entire cost of or the war and ond ha e dono done with ith it arid and the thC other to spread it over a a. period of of forty or fifty years and allow the next generation to share in inthe inthe inthe wars war's benefits bone bene the the cost of whatever might have been fits to the nation Inasmuch as tho the sinking fund would have to be raised by bv some further means of oL t taxation tation upon an already tax-burdened tax public the tho latter latler suggestion suggestion sug sug- is the more popular |