The Dawson news. (Dawson, Ga.) 1889-current, 1914-10-09
GROSS INJUSTICE TO THE
FARMER By THE GOVERNMENT

From the Atlanta UeOI gan
In the new postal savings bank
the deposits now amount to more
than $36,0OO,000. The government
pays only per cent interest on this
large sum.
A deposit as small as 10 cents is
received by the postal savings banks
and no one is allowed to deposit more
than $500.
More than 100000 persons have
thus left their savings with the gov
eminent at a lower interest rate than
is paid by any other government in
christendOm.
What does our government do with
this money. Does it use these wise
pennies of thrifty, patriotic people to
aid the industry and the production
of the country, the farms, for in
stance, and so benefit the small con-
sumner?
Not at all. The government, in
the postal savings bank law, does
not act as if the consumers of the
country, or even the postal depOsitors
were worthy of any special considera-
ton. 1t acts as if the interest OF
private bankers were of the first con-
sideratiOn or paramount in import
ance. PoStmasters are required i'm
mediately to redepOsit all savings re-
ceieVed by them in the nearest sol
vent bank willing to accept such de-
posits." And although part of these
deposits may afterward be invested
in United States bonds the banks
must always be allowed to keep the
total deposits of postal savings.
What does the national bank do
with the money? 1t is forbidden to
loan any of it to any farmer upon
the security of his farm, no matter
how good that real estate security
may be.
But the bank is free to loan it to
other customers, or to send it to any
central reserve city, New York,
Chicago and St. LOUISE, where the
money IS used for the most part to
promote speculative operations in the
stock exchange or grain pit.
The government of Germany has
given direct aid to loan associations
making a speciality of lending money
to farmers on improved farms at u
per cent interest.
The government of France helped
to create a financial agency to fur
nish money to French farmers at rs
per cent interest.
Even the government of England,
traditionaIly cruel and unjust to Ire
land. has provided a royal commits
sion and an Irish land act to i'm
prove the farm conditions of Ireland,
providing money for the farmer at
about 3 p per cent.
But in the United States the gov
eminent takes the small savings OF
the people, pays 2 per cent for them,
and turns them over to national
banks expressly forbidden to make
loans to farmers.
The American farmer is forced to
pay an average of 81 per cent for
the money essential tor harvest his
crops.
The six million farms of the coun-
try carry an average debt of loo.
They support twenty-five million
farm workers. They fesd the nun
dred million Americans. And they
nav an excess interest charge OF 2lO
million dollars a year alone { 8 y per
cent instead Of 5 per cent?. while. the
reserves of all the 7,4T3 national
banks of the country, amounting at
the last comptroIier's statement to
24O million dollars, are deposited
under the law in central reserve cit
les for the benefit of spectators in
stocks and bonds and to finance new
trust.
Was any government more guilty
of more monstrous fav0Titism than
the United States government has
long shown to ire sDecuiator and the
banker, who by themselves create
nothing, over the toiler and Ehe act
nal producer, who by themselves
produce everything We eat or wear
or REQUIRE for our health OF welt
baiuUT