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

the Postal Savings Banks the deposits amount
than $36000000 The Government pays only per
cent interest this large
deposit small 10 cents received by the Postal Saw
ngs and allowed deposit than $500
More than 100000 persons have thus left their savings with
the Government AT LOWER INTEREST RATE THAN is
PAID BY ANY OTHER GOVERNMENT IN CHRIsTENDoM.
What does Government do with this money? Does
these pennies of thrifty patriotic people to aid the in
dusty and production Of the country THE FARMS FOR
INSTANCE, and benefit the small consumer?
Not at ALL The Government in the Postal Savings Bank
Law does the of the country the
postal depostos worthy of any special consideration 1t
acts the interests of private bankers of the first
sderaton paramount in Importance. Posmasters
qued Immediately to redepos all savings received by them in
the solvent bank willing 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.
What does the national bank do with the money? It is
hidden loan any of it any farmer upon the security his
farm matter how good that real security may
But the bank free loan it other customers or to
send it any Central Reserve City New York Chicago and
St LOUISE where the money used for the part to pro-
mote speculative operations the Stock Exchange grain pit
The Government of Germany has given direct aid
associations making specially of lending money
improved farms at Az per cent interest
Government helped create financial lend
ing agency to furnish money French farmers ass per
interest
the Government of England additionally cruel and
unjust Ireland has provided Royal Commission Irish
Land act to improve the farm conditions of Ireland providing
money for the farmer at about 319 per
But in the United States the Government takes the small
savings of the people pays per for them and
to national banks expressly forbidden to
farmers.
THE AMERICAN FARMER is FORCED TO PAY AN
AVERAGE OF 8l5 PER CENT FOR THE MONEY ESSEN
TIAL TO HARVEST HIS CROPS
The six million farms Of the country carry average debt
of $1,000 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 S per cent instead Of per cent? while the reserves
all the 3 national banks country amounting at the
last Comptroller statement to 240 million dollars are deposited
under the law in Central Reserve Cities the benefit of spec
lators in stocks and bonds and to finance trusts
Is there anywhere such perverson government as this?
Was any government guilty monstrous favort
ism than the United States Government long shown to the
Spectator and the banker who by themselves create nothing
the toer and the actual producer by themselves pro
duce everything that require for our health
o well being?
Was there monarchca government in the world so
heare and short sighted the Government our own por
country when takes the savings poor people who trust
the Government than the banks uses those saw
70 show that the Government itself the banks more
than the people and willing that the and Spectators
: shall prosper even at the expense of the people?