THE BONDHOLDERS AND THE PEOPLE
October 7, 1917
Not many years ago one of the favorite cries of those who wished to exploit for their own advantage the often justifiable popular unrest and discontent was that “the people were oppressed in the interest of the bondholders.” The more ardent souls of this type wished to repudiate the national debt, to “wipe it out as with a sponge,” in order to remove the “oppression.” The bondholders were always held up as greedy creatures who had obtained an unfair advantage of the people as a whole.
Well, the Liberty Loan now offers the chance to make the people and the bondholders interchangeable terms. The bonds are issued in such a way that the farmer and the wage-worker have exactly the same chance as the banker to purchase and hold as many or as few as they wish. No matter how small a man’s means, he can get some part of a bond if he wishes. The Government and the big financiers are doing all they can to make the sale as widely distributed as possible. Some bankers are serving without pay in the effort to put all the facts before the people as a whole, and so make the loan in very truth a people’s loan. It rests with the people themselves to decide whether it shall be such.
The Government must have the money. It is a patriotic duty to purchase the bonds. And they offer an absolutely safe investment. The money invested is invested on the best security in the world—that of the United States; of the American Nation itself. The money cannot be lost unless the United States is destroyed, and in that case we would all of us be smashed anyhow, so that it would not make any difference. The people can, if they choose, now make themselves the bondholders. If they do not so choose, and if they force Wall Street to become the largest purchaser of the bonds, which must be bought somehow, then they will have no right in the future to grumble about the bondholders as a special class. We can now, all of us, join that class if we wish.
FACTORIES OF GOOD CITIZENSHIP
October 10, 1917
The training camps for the drafted men of the national army are huge factories for turning out first-class American citizens. Not only are they fitting our people for war; they are fitting them for the work of peace. They are making patriotism, love of country, devotion to the flag, and a sense of duty to others living facts, instead of unreal phrases. The public schools are laboratories of Americanism for our children; the training camps are laboratories of Americanism for our young men.
I have just seen a party of drafted men from the East Side of New York City start for Camp Upton with a band playing, an American flag flying. And two of their number in front, one dressed as Uncle Sam, and the other as the Kaiser, dragged along in manacles. There is no fifty-fifty Americanism in men with such spirit. A captain at this camp, a Plattsburg man, told me that his company of East Side New Yorkers showed all the intelligence and the zealous desire to learn which the fine young college graduates at Plattsburg have shown. Another captain told me that one of his men, a young Jew, had come to him and said that at first the East Siders had hated coming, not knowing what was ahead of them, but that now they felt that they were in a University of American Citizenship. A surgeon in the camp told me that men also, proved physically lacking after a week’s trial, were in most cases bitterly chagrined at being sent away. A colonel from a Southern camp has reported that already his country boys from the remote farms are straightening and broadening morally, mentally, and physically, and that the improvement is really incalculable. From every camp we hear of the eagerness with which the men are doing their duty, of their resourcefulness and of the real patriotism which is being rapidly learned. All this means not merely good soldiers in war, but good citizens in peace; it means an immense growth in the spirit of Americanism.
The young men are learning to be efficient, alert, self-respectful and respectful of others; they are learning to scorn laziness, slackness, and cowardice. All are serving on a precise equality of privilege and of duty and are judged each only on his merits. The sons of the foreign-born learn that they are exactly as good Americans as any one else, and when they return to their home their families will learn it, too.