_Secretary McAdoo, realizing that to carry the war through to a
successful issue may test this nation's resources to the extreme limit
of endurance and self-denial, inaugurated a campaign in the middle of
May, 1918, for fuller conservation of food, fuel, labor, and money. In
support of this campaign President Wilson issued the following signed
letter on May 29:_
This war is one of nations--not of armies--and all of our 100,000,000
people must be economically and industrially adjusted to war conditions
if this nation is to play its full part in the conflict. The problem
before us is not primarily a financial problem, but rather a problem of
increased production of war essentials, and the saving of the materials
and the labor necessary for the support and equipment of our army and
our navy. Thoughtless expenditure of money for nonessentials uses up
the labor of men, the products of the farm, mines, and factories, and
overburdens transportation, all of which must be used to the utmost and
at their best for war purposes.
The great results which we seek can be obtained only by the
participation of every member of the nation, young and old, in a
national concerted thrift movement. I therefore urge that our people
everywhere pledge themselves, as suggested by the Secretary of the
Treasury, to the practice of thrift; to serve the Government to their
utmost in increasing production in all fields necessary to the winning
of the war; to conserve food and fuel and useful materials of every
kind; to devote their labor only to the most necessary tasks; and to
buy only those things which are essential to individual health and
efficiency; and that the people, as evidence of their loyalty, invest
all that they can save in Liberty bonds and war savings stamps.
The securities issued by the Treasury Department are so many of them
within the reach of every one that the door of opportunity in this
matter is wide open to all of us. To practice thrift in peace times
is a virtue and brings great benefit to the individual at all times;
with the desperate need of the civilized world today for materials and
labor with which to end the war, the practice of individual thrift is a
patriotic duty and a necessity.
I appeal to all who now own either Liberty bonds or war savings stamps
to continue to practice economy and thrift and to appeal to all who do
not own Government securities to do likewise and purchase them to the
extent of their means. The man who buys Government securities transfers
the purchasing power of his money to the United States Government until
after this war, and to that same degree does not buy in competition
with the Government.
I earnestly appeal to every man, woman, and child to pledge themselves
on or before the 28th of June to save constantly and to buy as
regularly as possible the securities of the Government; and to do
this, so far as possible, through membership in war savings societies.
The 28th of June ends this special period of enlistment in the great
volunteer army of production and saving here at home. May there be none
unenlisted on that day!