LOAN TASK FOR NATION

"The task of raising the money for this loan is that of the entire nation, and not of any one class or group of citizens," said N. P. Hallowell '97, chairman of the Liberty Loan Committee of New England, when interviewed yesterday by a CRIMSON reporter. "Take this committee as an example. We are here offering our services--a practically self-appointed committee--advocating the sale of Liberty Bonds, yet there is no more reason for our being here than for any or all of you men out at Cambridge doing the same thing. All of the people of this nation must volunteer to buy the bonds and promote the sale of them to others.

Must Avoid Credit Extension.

"Why do we tell you to buy bonds? Because the country must obtain the money in order to carry on the war. The bonds are issued faster than the savings of the nation are accumulated, and that means that we must collect all the funds possible in the form of bonds in order that we may not have to extend our credit further than is absolutely necessary.

"There are only three possible sources from which money may be raised for the purchase of bonds: first, from the actual cash on hand in banks or private places of safe-keeping; second, from the future savings of the nation; and finally, through the extension of credit.

"The nation is coming in behind the country stronger than ever in this loan and we hope that Harvard will follow up her spirit as shown in the R. O. T. C., by subscribing more heavily than ever. There is no reason why you, by pledging some of your possible future pleasures, can not all help to carry this loan 'over the top' to the greatest success, and, incidentally, establish a principle of saving that will stand all of you in good stead at all times in the future."

University Committee Meets at 8.15.

The University Liberty Loan Committee will meet in the CRIMSON Sanctum tonight at 8.15 o'clock to discuss the details for the loan campaign here in Cambridge. George A. Clark, of White, Weld and Company, and T. T. Scudder '11, of the Liberty Loan Committee of New England, will both deliver short addresses.