"Every fall since the war began there has been some terrible blow to our troops--Antwerp in 1914, Serbia in 1915; last fall, Rumania, and now Italy, the worst of all. I think I would give up in despair if it were not for what Walter said in his dear last letter--that 'the dead as well as the living were fighting on our side and such an army cannot be defeated.' No it cannot. We will win in the end. I will not doubt it for one moment. To let myself doubt would be to 'break faith.'

"We have all been campaigning furiously of late for the new Victory Loan. We Junior Reds canvassed diligently and landed several tough old customers who had at first flatly refused to invest. I--even I-- tackled Whiskers-on-the-moon. I expected a bad time and a refusal. But to my amazement he was quite agreeable and promised on the spot to take a thousand dollar bond. He may be a pacifist, but he knows a good investment when it is handed out to him. Five and a half per cent is finve and a half per cent, even when a militaristic government pays it.