Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-06
How the Government Aids
Spectators and Hurts
Farmers.

In the Postal Savings Banks the deposits amount
than S36000000 The Government pays only per
cent interest this large
deposit small 10 received by the Postal Saw
ings Banks and allowed to deposit more than $500
persons have thus left their savings with
the Government AT LOWER INTEREST RATE THAN is
PAID BY ANY OTHER GOVERNMENT IN CHRISTENDoM.
What does our do with this money! Does
these wise pennies of thrifty patriotic people to aid the in
dustry and production Of the country THE FARMS FOR
INSTANCE, and so benefit the small consumer?
Not at all The Government in the Postal Savings Bank
Law does if the of the country the
postal deposors worthy of any special consideration 1t
the interests of private bankers of the first
sideraon paramount in Importance. Postmasters
quired Immediately redepos all savings received by them in
the nearest solvent bank willing to accept such deposits And
although part of these deposits may aterward be invested in
United States bonds, the banks MUST ALWAYS BE AL
LOWED TO KEEP THE GREATER PART, OR 65 PER CENT
OF THE TOTAL DEPOSITS OF POSTAL SAVINGS
does the national bank do with money? for
any any upon security his
farm matter how good that real estate security may be-
But the bank free to loan it to other customers
send it to any Central Reserve City New York Chicago and
St LOUISE where the money is used for the part pro
speculative operations the Stock Exchange grain pit
The Government of Germany has given direct aid
associations making speciality of lending money farmers
improved farms at Az per cent interest
The Government of France helped
ing agency furnish money French 4 per cent
interest.
Even Government of England additionally cruel and
unjust to Ireland has provided Royal Commission and Irish
Land to improve the farm conditions of Ireland providing
money for the farmer at about 49, per cent.
But in the United States the Government small
savings of the people pays per for them
to national banks expressly forbidden to
farmers
THE AMERICAN FARMER is FORCED TO PAY AN
AVERAGE OF 80 PER CENT FOR THE MONEY ESSEN
TIAL TO HARVEST HIS CROPS.
The million of the country carry an average debt
of 81 ooo They support twenty million farm workers They
feed the hundred million Americans they pay an EXCESS
INTEREST CHARGE OF 210 MILLION DOLLARS a year
alone 1917 cent instead of per cent? while reserves
all the 73 national banks of the country amounting at the
last Comptroller statement 240 million dollars are deposited
under the law Central Reserve Cities for the spcu
ators in stocks and bonds and to finance trusts
there anywhere such of government as this?
Was any guilty of favort
Ism than the United States Government long shown to the
Spectator and the banker who by themselves nothing
the oer and the actual producer themselves pro
duce everything that require for our health
well being?
Was there m0narohica government in the world so
heares and shoghted the Government of our own go
country when takes the savings poor people who trust
the than banks and then uses those
than the people and willing that the and spectators
shall prosper even at the expense of the people?