| Show IY Y BONDS BEST securities THAT I 1 NEY CAN BUY MANY advantages I 1 authorizing the I isue asue of i loan bonds of 1917 in a e tends with ith certain ad alich no other bonds bond in be the national state possess an and W 1 31 in miny respects a desirable esi rable in investment estment are not tax ible bv by the ite bointy or eit ci tinor nor will antly levied by d states during this war af state gount and city rn a amount to na as much as iti 3 on oil the dollar the exema B taxation of these bonds m in such cases equivalent cent lent investment inT estment an in bol safe bringing in n atia at is exceptionally exception alli desir rs of these liberty loin given ell the right should the t subsequently during ibue aue bor is 13 bearing a hi aisher her rest to exchange the thear ir kap ar V boni jon iq it at par for similar rg the tile higher rate liberty loan bonds are as their ini investments est ments will not liot i in in aa alue by competition with later issued he eMern government ment beading a of interest 1 yet let another vother quality atts attis onda which give glie rid aide value and chara c no 0 o other bonds in the world which will not oab create market for their dormal times come again ill III stabilize their value t the world this ig Is best by bythe th bew ow york times 1 ent it of the liberty loan Is is 4 which it will have no I 1 will have equal al value I 1 the nation I 1 or hai kid in iti I 1 value lue no othera bond abt and sold on a 10 nd in leading centres bentres ta without spoiling tie tle I 1 market there will always be bids and offers for the liberty loan and anti the tile mav may be cashed or bought for cash with the greatest ease the liberty loan will be related to the market more cloel than other bonds and furthermore will ill be related to the gold market as a consequence of having haing in inter national market Goern government ment bonds are now being exchanged bo u generally and in lit such I 1 sums sams that there is 13 a prospect of realization of the idle dream of the tile past that a substitute could be found for international shipments of gold on the balance of merchandise dihe ex changes it is easier and safer to shir securities than specie r and nd the international religions are now be so intimate tint thit bond in safe deposit may be sufficient aar antee of credit exchinger without shifting even securities from on ont side of the ocean to the other th I 1 federal reserve reser a bink binl now bat bal balances inces credits by telegraphic orders a i gold fund at washington without with ut shifting the gold it is not difficult to believe belies a that thi the relations between the federal reserve reser e bank banh and the bank of england ma may yet just if the control of international exchanges in the same macnei under the safeguard of an exchinger of belul bei unties atles as good aa as gold these uses give a valur alu to the libert loan which cin can be shared with no other bonds the modeal holder of it few hundreds hiu hud dreda reds of thousands of the worlds premier security may consider that such uses are nothing to him that is a mistake he ile may not want the loan for those purposes but the fact that the loan has such uses adds to its aralue in the hands cf even the smallest holders tnt liberty LOU is a 1 national utility whoever owns ll 11 and utility increases with the universality of its ownership I 1 the liberty loan bonds are tee the premier security of the world today |
