Germany had been watching its progress. There were lulls during the month in which the loan was under issue and Germany was eager to see in a passing slowness of response a popular unwillingness to shoulder the burden of war and an apathy that she welcomed. The people had no spirit for the war and it was largely a bankers' loan, said her spokesmen. Anticipating this criticism the Government, aided by the press, publicists, and bankers, conducted a propaganda which successfully impressed the country that a large popular oversubscription could not be misconstrued by Germany, as it would convince her that there would be no stinting of national resources by the United States to aid the Allies in encompassing her defeat. The result showed that a request for $2,000,000,000 had been met by a response of $3,035,226,850 from over 4,000,000 investors, mainly for small amounts. The success of the loan, especially in its appeal to modest purses, was imposing. Secretary McAdoo of the Treasury thus expressed the Government's gratification: "The widespread distribution of the bonds and the great amount of the oversubscription constitute an eloquent and conclusive reply to the enemies of the country who claimed that the heart of America was not in this war. The result, of which every citizen may well be proud, reflects the patriotism and the determination of the American people to fight for the vindication of outraged American rights, the speedy restoration of peace, and the establishment of liberty throughout the world. "The Congress pledged all the resources of America to bring the war to a successful determination. The issue just closed will serve as an indication of the temper and purpose of the American people and of the manner in which they may be expected to respond to future calls of their country for the necessary credits to carry on the war." The operation of the Selective Draft law provided a simultaneous opportunity for a display of patriotism. Acting under its provisions, the President in a stirring proclamation issued on May 18, 1917, called upon every man in the country between the age of 21 and 30 to register his readiness to be called upon for army service at the designated registration place within the precinct where he permanently resided. It was a call to the nation to arm. "The power against which we are arrayed," the President said, "has sought to impose its will upon the world. To this end it has increased armament until it has changed the face of war. In the sense in which we have been wont to think of armies, there are no armies in this struggle, there are entire nations armed. Thus, the men who remain to till the soil and man the factories are no less a part of the army that is in France than the men beneath the battle flags. It must be so with us. It is not an army that we must shape and train for war; it is a nation.