patriotic society to which I belong has practically swept its treasury bare and put the contents in the Liberty Loan. As we are the largest patriotic society in the State we ought to take a prominent part in this loan. Even from the standpoint of dollars and cents it would, I think, be an excellent investment to put our permanent fund, for instance, in government loans. We are not giving this money to the government. We are simply using the government as our bank. It seems to me we ought to make a radical change in the character of our investment so as to help the government.

General Snowden: Not long ago the Federal Treasurer advised the people not to sell their securities at a sacrifice in order to buy government bonds. It would be a great sacrifice for the Society to sell its securities now, since undoubtedly they will return to ante-bellum prices. The Society has invested liberally, and I do not think it ought to sacrifice until it shall become necessary. If there were danger of this loan failing, then it would be proper to sacrifice everything, but so long as the loan is going through successfully all that remains for us is to do our duty as we go along. The accumulation the Treasurer speaks of has all been invested or will be invested in government bonds.

Mr. Walsh: I move the whole matter be referred to the incoming Board of Managers, with power to act.

The Chairman: Let me say that the Board recognizes the force of all that has been said. At the first Board meeting after the war opened we turned our attention to the matter of investing the Society's funds in the Liberty Loan, and every dollar that has been invested since has gone into the same source.

Mr. Littlefield: In this connection I want to say that I have spent a number of weeks in Washington and have heard a good deal of talk about patriotic societies, as to what they are doing to help this war. If we have any money beyond necessary expenses of running the organization for the coming year it would seem to me we should strain a point, as indeed every one is asked to do, to put what money we have into the new Liberty Loan. A day or two ago I happened to be in an insti

tution which had several thousand dollars in funds it was going to invest in railroad securities which were good and paid a little more interest. At my suggestion, with the unanimous consent of the meeting, at which there were many financial men, several thousand dollars were put into this Liberty Loan. I believe it is the same way with every organization that intends to be patriotic, whether they are or not, and the Sons of the Revolution are looked upon very much as representative of all the previous saviours of the country.

Mr. Steinmetz: The thought has occured to me that there is an opportunity of getting $1,000 or $2,000 quickly for a Liberty Loan investment if the Treasurer would send out a letter to every member asking if they will not immediately pay the annual dues, instead of dragging them all through the year.

The Treasurer: I would like to give the Society this information, which they probably cannot get before they read my report. We received $4,132 in dues last year and invested $3,500 in Liberty Loans and have $689 cash on hand now.

The question being on the motion of Mr. Walsh, it was adopted.

The Secretary: The stall for the Memorial Chapel at Valley Forge, mentioned in the report of the Board of Managers, and to which the appropriation voted by the Society at its last annual meeting has been assigned, will, I am assured by Mr. Milton B. Medary, the architect, be ready for dedication in the near future. I have here a report from Mr. Horace Wells Sellers, Chairman of the Committee on the Wayne Monument, which reads as follows:

April 3, 1918.

To the President and Members Board of Managers, Society Sons of the Revolution, Philadelphia, Penna.

GENTLEMEN:

The Committee on Wayne Monument begs to submit the following report:

The action of the Society in adherence to the original idea of an equestrian statue in preference to the modified treatment

as suggested to meet the requirements of a site then under consideration has again presented to the Committee the problem of a location suitable for such a monument.

Preparatory to soliciting further contributions to the larger project as originally contemplated, your Committee, as directed by the Board, outlined a form of appeal to members of the Society and to the public calling for the requisite funds, but it seemed evident that to properly present the matter there should be a statement of the probable cost of the memorial based upon a definite and suitable location. This your Committee believes to be essential in order to interest and inform those who will be called upon to contribute generally, and especially such of our members who may be expected to make larger contributions with knowledge of the amount necessary to complete the fund under the original intention to make up the deficiency without relying on assistance from the public at large.

Aside from this, however, and following the purpose of the Society to solicit contributions outside of its membership, such definite information in regard to the site and character of the memorial is deemed to be expedient in order to create a popular interest in the project through appreciation of its value as an important civic improvement as well as an expression of public spirit and patriotism. The location and appropriate treatment of the monument in relation thereto have had, therefore, the careful consideration of your Committee, and finally in conference with a special committee of the Art Jury appointed for the purpose a site at the western terminus of the Parkway was indicated, under the advice also of a sculptor competent to execute such a memorial who was called in consultation to be assured that any site proposed might accord with the intention to create the worthy and distinguished memorial that the Society has in view. Although some study and thought have been given to the character of the monument and its accessories as adapted to this location, it was not deemed expedient to develop any preliminary design in detail until the city's plans affecting the exact site and surroundings were completed. During the past week, however, your Committee has been advised that these plans will

be presented shortly for its consideration and that in its final shape the development of this important feature of the Parkway offers the choice of two advantageous sites for the Wayne monument.

It must be realized that even under normal conditions an equestrian statue and its accessories properly designed and executed would now involve a much greater expenditure than the estimate, $30,000, made in 1895, and in addition to this the situation created by the war continues to be unfavorable to the realization of projects of this character.

Your Committee proposes, however, with your approval, to further develop a preliminary study for the memorial in order that when conditions are favorable the matter will be ready to present to our members and to the public in proper shape to create the interest and support which the project deserves.

Respectfully submitted, on behalf of your Committee,
HORACE WELLS SELLERS,

Secretary, Wayne Monument Committee.

The Chairman: That is not, properly, a report to this meeting, and, although most interesting, it does not call for any action on our part.

The Secretary: It is simply a report of progress to inform the members that the committee is zealously continuing its work. The Chairman: Mr. Secretary, is there any unfinished business to be acted upon?

The Secretary: No unfinished business.

Honorable Norris S. Barratt: Before offering the motion I have in mind I would like the privilege of prefacing it with a few statements, that it may be the more clearly understood. One of our members a few moments ago rightfully asked what the Pennsylvania Society Sons of the Revolution is doing in this war. For his information I may say that seventy of our members are in the service giving a good account of themselves. (Applause.) I think nearly eighty per cent. of them have commissions. You all know that Lieutenant-Colonel Clarence P.

Franklin, of the Color Guard, is doing splendid work at Allentown. In aerial work credit and praise should be given to Joseph A. Steinmetz, who is here with us tonight. (Applause.) Frequently, when I come in contact with persons connected with the Government air work, it is said: "You have one of the most energetic men in that branch in the city of Philadelphia." I say, "Who is it?" Then I know what is coming. "It is Stein-metz." He has given three of our members letters, and they passed their examination successfully and all have won commissions. There is one thing about this war which I am sure is not as thoroughly understood as it should be, and that is that we are at war. War is an armed contest to maintain the rights of a nation, and when war exists between two nations every individual of the one is at war with every individual of the other. This is international law. It is beginning to be understood by the casualty lists, but it has not as yet been forced upon us. The people in America are still too kindly disposed towards our enemies. But conditions are changing for the better. To win this war the American nation must put forth its utmost effort and make much greater sacrifice than it has yet made. The time has gone by for the pacifist, the pro-German. To do any act that will help our enemies is not only disloyal, but treason, and there is no room in the United States for any disloyal man or woman. Some of us talk too much, and some of the talk unthinkingly indulged in has been used either against the government or against our boys on the other side. There are a great many more people, as you can gather from the daily papers, who are in sympathy with those who are fighting us than we have any idea of, and we all ought to be most careful. Not long ago a lady said something to me about some of our troops on the other side-something in regard to the regiment which her boy was in. I happened to speak to a man in the army and said, “I hear we have troops in such a place." He looked at me and replied, "You ought not to say that." I answered, "Why, I thought everybody knew it." He said, "That is not to be spoken of. It was told me as a secret and if anybody told you they had no right to tell you." "It was not told me as a secret,"