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

In the new Postal Savings Banks the deposits amount
to more $36OOoOO0 The Government pays only per
cent interest this large
deposit small 10 cents received by the Postal Saw
incs Banks and no one allowed deposit than $500
100000 persons have thus left their savings with
the Government AT LOWER INTEREST RATE THAN IL
PAID BY ANY OTHER GOVERNMENT IN CHRIsTENDOM
does Government do with this money? Does 1t
use these wise pennies thrifty patriotic people to aid the in
dustry 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
Law does not act the country the
postal depostor worthy of any special consideration 1t
the interests of private bankers of the first
sderaton paramount in Importance Postmasters
qued Immediately redepo all savings received by them in
the solvent bank willing accept such deposits And
although part of these deposits may aerward 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! is for
hidden loan any of any farmer upon the security of his
farm how good that security may
But the bank free to loan to other customers to
any Central Reserve City New York. Chicago
St Louis where the money used for the most part to pro-
speculative operations the Stock Exchange grain pit
The Government of Germany has given direct aid loan
associations making specially of lending money
improved farms at Az per cent interest
The Government of France helped financial lend
ing agency furnish money French farmers at per
interest.
Even the Government England additionally cruel and
unjust to Ireland has provided Royal Commission and Irish
improve conditions Ireland providing
money for the farmer at about 31a per cent
But in the United States the Government takes the small
savings Of the people pays for them and them
to national banks expressly forbidden to make loans
farmers
THE AMERICAN FARMER is FORCED TO PAY AN
AVERAGE OF 80 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 EXCESS
INTEREST CHARGE OF 210 MILLION DOLLARS a year
alone 49, per cent instead of per cent? while the reserves
of all the 43 national banks Of the country amounting at the
Comptroller statement to 240 million dollars deposited
nnder the law Central Reserve Cities for the specu
in stocks and bonds and to finance new trusts
Is there anywhere such perverson of government this?
Was any government guilty of favort
than the United States Government has long to the
peuator and the banker who by themselves create nothing
the toer and the actual producer who themselves pro-
duce everything that eat require our health
wel.being?
Was there monarchioa government in the world so
heaess and shorghted the Government own elor
country when it takes the savings people who trust
the Government than the banks uses those saw
gs to show that the Government itself the banks more
than the people and willing that the and spectators
snail prosper even at the expense Of the people7