BRITAIN'S PRIMARY
The Victory War Loan
This flashlight photograph was taken in Guildhall, London, at the moment Sir Lloyd George rose to make his great speech for "The Victory War Loan."
Mr. Lloyd George said that the Emperor had told his people that the Entente Allies had rejected his peace offer. The Emperor did so, he said, "to drug those whom he could no longer dragoon." He then said: "That the Entente Allies had rejected no peace terms—that we were not offered terms, but a trap." He proceeded to tell of the necessity for the raising of a big war loan, saying that a big war loan would win the war. "Let no money be squandered on luxuries. The more we get, the more certain will be the victory, the shorter will be the war." Mr. Reginald McKenna, once Chancellor of the Exchequer, wound up the meeting, supporting the appeal made in behalf of a loan. Mr. Bonar Law outlined the terms of the new war loan. The bulk of the issue will be five percent bonds. He outlined the fact that the government intended to accumulate $50,000,000, which would be used for purchasing bonds in the open market whenever they fall below the issue price. In addition to Mr. Lloyd George will be seen Mrs. Lloyd George, Miss Megan Lloyd George, Mr. McKenna, Mr. Bonar Law and the Lord Mayor.  H. special 