Show I I I m QUIt LAP IJAr WAR WAIL WITH SPAIN Earl Early In time the sprIng or of ms It became amo that hero thero was Sas lIttle t ty we should escape nl e war with Spain mh 1511 time tho was walt destroyed In the harbor of Havana and earl early In Match March the that oral Lao bt be recalled from rom that city con the authorities that thal time time Cor or and energetic preparatIon had Loaders In both houses ot Congress tero invited to confer with the tho t with the result that on March It a bill oeo for r th he national defense wu was passed The strong position ot of Ih the notional national treasury which then h held cash of which 1 was In gold made It entirely feasible to op ap appropriate at once so large n a sun or of money mone This sum Bum to lie be oc expended un no dor the direction ot of the President was wag wasl l to According to the needs of the thc various executive depart as Navy Nan department war wor department GiCS sin state Ie department le COS COSt t treasurY lUlU 1 total These seams while hlll ample for immedi immediate ate nt e lIUs not nol long fUI suffice to 10 cover cor the of modern warfare Conferences bot between time the executive and legislative authorIties resulted In what Is known n as th the war revenue act or at June whIch was os II to produce and did produce about tOO additional revenue IJ net authority was wall gIven ghen to the secretary of oC time the treasury to Il hsue ue certIficates ot of In M not exceeding one ofle year trot Crom th date of issue to 10 the amount or of It did not be become become come necessary tu to resort time Issue ot of these but the at and remains n a wholesome safe safeguard guard lor or the tho national treasury In case or of n Ihy By the tho name Harne act the secretary or of the treasurY was wa also authorized ed to 10 borrow on Uti Credit of cr time tho United States Slates or so 80 much thereof III as ml might ht be to 10 expenses au au on account of the war nail to issue bonds In or of 20 20 or some multiple of that sum lIm rt cc d In coIn oln Ut time the of oC time ho United States after en years from the tho date of issue and payable twenty tent years car from such luch date bearing payable quarterly In at time the rate of 3 per er cent per annum The bonds Lond were to bo be offered at Dar var as 48 a 0 popular loan the of In individuals to be first accepted and for the lowest to be first allot allotted ted tol tInder the tho authority given cm a loan of aa to the people It was instantly i SubscrIptIons In tram train every State and Fern tor tory In time the UnIon Time TIle loan was closed July Jub Wh subscriptions 1 been the regulations lIl L by the 1 secretary ot of time the treasury for days dalI dalITh Th The strength ot of time the national finances and the resources or of time the country nover better demon Stratton titan when on closing time the books it Il the offerings amount eth ed to almost fourteen n millions It WRit the first hub the United States had ever eer of oC Its bonds In tint time of oC at Interest mates ates so flO low lo as aJ 3 I ler r cent The Tho ease Jao with M ness revenue la law was Into time the facility wIth so lar large n II a stun was raised b borrowing find their counterparts onto only In the rapid and loom corn ot of lime Ibe and military operations of oC the war With the na an credIt so 80 apparent antI and such h II a display or of abundant resources corn com and the Industries ot of time the coun country country try suffered not the lent heas bunt In fact the returning of prosperity WAS riot not for Cor a moment reo cc larded but continued uninterruptedly to spread over oel tIme the whole Monthly for November |