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Show NEW YORK OPENS LOAN CAMPAIGN City Begins Drive to Raise $1,500,000 in Twenty-four Days' Time. STUPENDOUS FEAT Day Ushered in by Ringing of Church Bells and Shrieking of Whistles. NEW YORK, OcL 1. Now York City's opening drivo to secure at least half, and as much more as possible of the second liberty loan In the second sec-ond federal reserve district $1,500,-000,000 $1,500,-000,000 in twenty-four working days was ushered in today by tho ringing of church bolls and the shrieking of whistles whis-tles from factories and harbor craTu To accomplish tho program, probably probab-ly one of the most stupendous feats In popular finance ever attempted by any -liiinlcinallty in the world, It will bo ntjctihoaiy to obtain an average of $62,-500,000 $62,-500,000 on each day of the campaign. The opening of the campaign was signallizcd by a parade of bond salesmen sales-men and other workers from tho sub-treasury sub-treasury building to the city hall, whore Mayor Mitchell addressed them. In the first hour of the second liberty lib-erty loan drivo $11,000,000 in subscriptions subscrip-tions of $5,000,000 each were by the Union Pacific Railroad company Southern Railroad rnm2nr- CHICAGO'S LOAN CAMPAIGN. CHICAGO, Oct. 1. Tho campaign to raise $700,000,000 of the new liberty loan In the seventh federal reserve district dis-trict started In this city today with the assembling of five hundred salesmen sales-men at a downtown hotol. They received re-ceived instructions from thoir leader and early in the forenoon were on thoir way through tho financial and downtown down-town districts soliciting subscriptions for the big loan. Women's organizations, committees from the police and fire departments of the city also were at work early in the day. Drive to Last Four Weeks. WASHINGTON. Oct. 1. The big drive for the second issue of Liberty loan bonds began at noon today throughout tho country with a multitude multi-tude of activities that will last four weeks. The campaign is planned to raise at least $3,000,000,000 in subscriptions and treasury officials have set "the I amount expected" at $5,000,000,000. Half again as large as the first Liber- ty loan, the second offering is the largest larg-est the people of the United States have ever been called on to absorb. McAdoo Opens Campaign. Secretary McAdoo formerly opened) the campaign with a speech in Cleve-j land, the first of manyjio will deliver on his tour of tho United States to' stimulate interest in tho sale of bonds. Clnbs, chambers of commerce, commercial com-mercial organizations, schools, patriotic patri-otic associations and the like havo been enlisted In the great army of "boosters" for the loan and all over , the country tho publicity machine sot' up by the treasury department has been put in motion. Newspapers, hand bills and posters of every description will advertise the bonds and speakers on the platform and stage will assist in tho great drive. Postmaster General Burleson has ordered or-dered between October 1 and October 27 all postage stamps be cancelled with a stamp bearing the legend "back tho boys in tho trenches. Buy a Liberty Liber-ty loan'bond. Inquire at any bank or postofflce." WASHINGTON, Oct. 1. Official estimates es-timates of the revenue to be raised by the war tax bill now total $2,575,-000,000, $2,575,-000,000, Democratic Leader Kitchin told the house today in presenting tho conference report. This Is about $700,-000,000 $700,-000,000 and $175,000,000 more, respectively, respec-tively, than the house and senate drafts carried. An effort to confine argument on the report to two hour3 failed, but leaders said they hoped debate would not run into tomorrow. They were determined that under no circumstances should the bill be re-opened. Some confusion and misinterpretation misinterpreta-tion has arisen out of the wording of the section imposing stamp taxe's on negotiable instruments which has been misconstrued to mean that a tax has boon placed on bank checks. The bill says: "Drafts or checks payable otherwise than at sight or on demand," etc, two cents for each $100. The official interpretation inter-pretation of this section Is that as a check Is payable at sight and on demand, de-mand, it therefore is excluded from tax. Tris Speaker Buys Bond. CLEVELAND, O., Oct. 1. Secretary of the Treasury William G. McAdoo officially opened the second Liberty loan campaign in Cleveland this morning morn-ing with an appeal to every man and woman who resides upon the soil of free America to Join in the league of patriots by purchasing a Liberty bond. Tris Speaker of the Cleveland baseball base-ball club purchased the first bond of tho second Liberty loan. Secretary McAdoo handed tho bond to Speaker and received his check for $1,000, after which Mr. McAdoo raised an American flag and a specially designed Liberty loan flag. McAdoo'c Speech. Speaking of the financial problem of tho nation, Mr McAdoo said: "After allowing for the amount of revenue to bo raised by taxation for the fiscal year ending Juno 30, 1918, Ave shall have to raise by additional bond issues between thirteen and fourteen four-teen billions of dollars. It, Is estimated estimat-ed that $5,000,000,000 will represent additional loans to tho allied govern-monLs govern-monLs which, in turn, will give us their obligations bearing InteresL Stupendous Undertaking. "To raiso thirteen to fourteen billions bil-lions of dollars, on or before tho thirtieth thir-tieth of June, 191S, by the salo of bonds In recurring Installments seems to some people an impossible task. It Is a stupendous undertaking, but it Is not impossible for America, It is not easy, but it can be done. Our resources aro adequate; our will is perfect; our spirit spir-it is indominitable and our success is certain. We have only to pull together and wo can do the Job. Already we have demonstrated what a united people peo-ple can do when partisanship is subordinated sub-ordinated to patriotism; when love of country becomes supremo. I look forward, for-ward, therefore, with confidence to tho success of tho recurring campaigns wo must make for tho sale of liberty bonds." |