Show M MADOO ADOO RUMORS ANENT j S NEW LAN LOAN Secretary Declares They're S Hurtful to Interests o of oi America B By Special News Service WASHINGTON Jan The 0 5 The The finances nances of 01 the whole country public as well vei as private by force forc of or the national needs at this crisis are subordinated and ad adjusted adjusted adjusted ad- ad to the great geat Liberty loan FinancIng Financing Financing ing by railroads or other great geat industries and all 31 lesser private financing must be considered primarily in rela relation ton to the government loans The needs of private interests the i money necessities of the business of the country as well wel as that of the government government govern govern- ment itself are all al considered by ly the govern I secretary secretary sec see of the treasury in fixing the amount and date of each issue of Liberty Liberty Liberty Lib Lib- erty loan ioan bonds and the effect of the issue of ot bonds on all al other securities and andal andall andall all al other loans is given duo due tion 5 The dissemination therefore o of untrue Information even when made In honest belief belef and with good intention is harmful harm harm- ful and Secretary McAdoo issued the following strong statement The report that the next Issue isue of Liberty Liberty Liberty Lib Lib- Lib Lib- erty bonds will wi te pe at 4 per cent and on March 15 15 1918 Is holy wholly unfounded I wish I could make the patriotic newspaper men of America re realize realize re- re alize alze how mischievous and hurtful to th the interests of the country countr such speculative statements are When a decision has been reached about tho the next Liberty loan it will wi be officially announced Meanwhile all al other statements and rumors ru rumors rumors ru- ru mors may mav be disregarded It I has been pointed out as evidence of how strongly the duty of saving has been impressed upon the English people by the war savings campaign in that country that in the year 1916 although purchasing billions of dollars of war bonds the small smal savings bank depositors In England Increased their deposits in savings banks over this in face of the fact that the English have been noted as a spending rather than as asa asa asa a saving people It I seems that a similar process has taken place in America Two great Liberty Liberty Liberty Lib Lib- erty loag were floated in 1917 and nearly of Liberty loan bonds were purchased by the people Yet instead of being depleted depicted the savings banks deposits I of the country have been increased The president of one of the large New York I savings banks is quoted as saying One of the most remarkable things about the Liberty loan campaigns is the small smal effect they have had on the savings sayIngs sav say ings banks accounts which show an in in- in crease This we lay to the appeals made mad to the American people to purchase the bonds out of o their earnings paying for them from week to week or from month to month The people appear to be doing I as they have been urged purchasing the bonds from current savings |