Not To Be Entirely Used For National Defence In a press statement issued yesterday, Mr. T. V. Soong declared that he had been wrongly quoted as saying that the entire proceeds of the Liberty Loan would be devoted to national defence. This is an error, he stated. The purpose of the Loan is to meet the general needs of the Government and is in that way no different from previous Government issues.
In this grave national emergency, he continued, every citizen of China is anxious to do his share for the country. The Liberty Loan for $500,- 000,000 that has just been issued offers an opportunity for everyone to make his sacrifice.
Recent events have shown that without a strong Government the life, liberty and property of its citizens are not secure. In subseribing to the Liberty Bonds, our countrymen will be building a sure foundation for a nation that could not be beaten to its knees.
The Loan is issued at par, and the rate of interest offered is 4 per cent. which is much lower than that for previous Government loans. A gratefal nation, however, will be mindful of the patriotic motives that inspire the subscribers. The terms of the Liberty Loan will be honoured a: long as the Republic of China shall last $50,000,000 Liberty Loan $500,000,000 Liberty Loan has been authorized by the National Government of China, and is now open te subscription. Mr. T. V. Soong has been invited to be Chairman of the Liberty Loan Committee, composed principally of Chinese financiers.
The main terms of the Loan are as follows:
1. The total_amount of the Loan shall be $500,000,000.
2, Interest at the rate of 4 per cent.
per annum shall be payable at the end of August every ning from the 27th
Text read from the printed page and cleaned; old type leaves the occasional error.