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

In the new Postal Savings the deposits amount
to more than $36OO0OOO The Government pays only
cent interest this large
deposit as received by the Postal Saw
ngs Banks and no allowed deposit than $780,
than 100000 persons have thus left their savings with
the Government AT LOWER INTEREST RATE THAN is
PAID ANY OTHER GOVERNMENT IN CHRISTENDoM.
What does Government do with this money? Does it
pennies of thrifty patriotic people to aid the
dustry and the production Of the country THE FARMS FOR
INSTANCE, and so benefit the small consumer
Not all The Government in the Postal Savings Bank
Law of country the
postal depoors worthy of any special consideration
acts the interests of private bankers Of the first
sdeaton paramount in importance Postmasters
qured Immediately to edepo all savings received by them
the solvent bank willing accept deposits And
although part of these deposits may afterward 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
hidden to loan any farmer upon the security his
farm matter how good that real estate security may be-
But the bank free to loan to other customers
send any Central Reserve City New York Chicago and
st LOUSY where the money used for the part pro-
speculative operations in 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 create financial lend
interest.
the England additionally cruel and
unjust to Ireland has provided Royal Commission
Land act improve the farm conditions Ireland providing
money for the farmer at about 31a per cent
But in the United States the takes the small
savings of the people, pays per for them them
national banks expressly forbidden loans to
farmers.
THE AMERICAN FARMER is FORCED TO PAY AN
AVERAGE OF 81a PER CENT FOR THE MONEY ESSEN
TIAL TO HARVEST HIS CROPS.
The six million farms of the country carry average debt
Of ST. 000 They support twenty million farm workers. They
feed the hundred million Americans And they pay EXCESS
INTEREST CHARGE OF 210 MILLION DOLLARS a year
(8 per cent instead of per cent? reserves
all the 43 national banks of the country amounting at the
Comptroller statement 24O million dollars are deposited
under the law in Central Reserve Cities for the specu
lators in stocks and bonds and to finance trusts
Is there anywhere such perverson of as ths
Was any guilty of favort
ism than the United States Government has long to the
pecuator and the banker who by themselves nothing
the toer and the actual producer who themselves
duce everything that eat require for our health
well-being?
Was there monarchca government in the world so
heartess and shorghed the Government own gor
country when takes the savings of people, who trust
the Government than the banks and then uses those
ings to show that the Government itself the banks more
than the people and willing that the and speculator
shall prosper even at the expense of the people?