Salt Lake Tribune | 1919-05-27 | Page 6 | Loan a Big Success

LOAN A BIG SUCCESS. The Victory loan was oversubscribed to the amount of nearly $739,000,000, the total of bonds sold being $5,249,-908,300. $5,249,-908,300. Only two federal reserve districts, dis-tricts, Atlanta and Dallas, failed to obtain ob-tain their quotas, Atlanta by less than 1 per cent and Dallas by slightly less than 8 per cent. On account of the oversubscription all individual subscriptions subscrip-tions over $10,000 will be cut down. The number of individuals subscribing to the loan is expected to be in the neighborhood neigh-borhood of 15,000,000. The people of the country were somewhat slow in getting get-ting started, but when they "hopped off" they went with a rush, and once more demonstrated the fact the men and women of America can be depended upon when duty calls. Had the war continued con-tinued another year the United States government w;ould have been compelled to borrow many billions of dollars from the people in addition to the amounts raised by tho Liberty loans, and tho money would have been subscribed without a murmur. Happily, the struggle strug-gle is over, and now that the Arictory loan has been oversubscribed the government gov-ernment will be able to get along without with-out selling any more bonds. It is even probable that congress will repeal some of the tax provisions and reduce others during the present session of that body. All of which goes to show that the United States is in first-class financial condition. Much credit is duo the various va-rious committees and workers in the field for the success of tho Victory loan, and the result should be highly satisfactory satis-factory to Secretary Glass, who fixed the amount of the loan and the rate of interest. The people of Salt Lake and Utah share in the glory of the achievement.