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


more than $S6OOOO0O The Government pays only per
cent interest this large
deposit as small as received by the Postal Saw
ngs Banks and allowed to deposit than $500
More than 100000 persons have thus left their savings with
the Government AT A LOWER INTEREST RATE THAN is
PAID BY ANY OTHER GOVERNMENT IN CHRIsTENDoM,
What does our Government with this money? Does it
these pennies of thrifty patriotic people to aid the in
dusy and the production of the country THE FARMS FOR
INSTANCE, and benefit the small consumer?
Not at ALL The Government in the Postal Savings Bank
the of the country the
postal dpostos worthy of any special consideration It
acts if the interests of private bankers of the first
sderaton paramount in Importance. Posmasters are
oued Immediately redepost all savings received by in
the nearest solvent bank willing accept such deposits And
although part these deposits may aterward be invested
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? 1t is for
hidden to loan of it to farmer the security of his
farm matter how good that real security may
But the bank free to loan it to other customers
send any Central Reserve City" New York Chicago and
st LOUISE where the money used for the part pro-
mote speculative operations the Stock Exchange grain pit
The Government of Germany has given direct aid loan
associations making speciality of lending money farmers on
improved farms at AZ per cent interest
The Government of France helped to financial
ing agency furnish money French farmers AIS per cent
interest.
Even the Government of England additionally cruel and
Land act improve the farm conditions providing
money for the farmer at about 49, per cent.
But in the United States the takes the small
savings of the people pays per for then them
to national banks expressly forbidden loans to
farmers
THE AMERICAN FARMER is FORCED TO PAY AN
AVERAGE OF 49, 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 And they pay an EXCESS
INTEREST CHARGE OF 21O MILLION DOLLARS year
alone S per cent instead of per cent? while reserves
Of all the 3 national banks of the country amounting the
last Comptroller statement 240 million dollars deposited
under the law Central Reserve Cities for the of spcu
ators in stocks and bonds and to finance new trusts
there anywhere such perversion government as this?
Was any government guilty of favort
ism than the United States Government has long to the
Spectator and the banker who by themselves create nothing
the or and the actual producer by themselves pro
duce everything that eat require health
wellbeng?
Was there monarchica government in the world so
hearess and horghted Government of our own go
Gus country when takes the savings poor people who trust
the Government than the banks uses those saw
ngs to show that the Government itself trusts the banks more
man the people and willing that the and spectators
snail prosper even at the expense of the people?