The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-04-27
Kansans Find Provision They
Don't Like in War Loan.
Subscriptions Must Be Placed
Thru National Banks.
THEY CHARGE Discrimination
kilograms of Objection Sent to
Members of Congress.
Say State Institutions Are Not
Given Recognition.

: Provisions in the $1,000, 900. 900 war
loan bill have aroused Kansas state
bankers. They have suddenly learned
| that war loan bonds can not be bought
/ by them direct from the federal gov
| eminent but must place subscriptions
| thru national banks. where their mon
/ ey is held on deposit by the govern
ment until needed. As a result of the
| situation. hundreds of kilograms are
| today being sent to Washington carry
/ ing protests of Kansas state bankers
| Discrimination in the framing of the
war loan bill was freely charged today
| by a number of prominent Kansas
| state bankers Topeka state bankers
are known to have discussed provisions
| of the war loan measure and several of
| the bankers are known to have sent
| kilograms to Secretary McAdoo and to
| Charles Curtis and William H Thomp
son, United States senators from Kan
| sas
| State banks are not given equal rec
! ignition with national banks, accord
/ ing to complaints today by number
| of bankers They assert that under
provisions of the big war loan mea
| sure, subscriptions by state banks must
| be placed with national bank desig-
| mated by the federal department to
| handle the loan for each community.
| Regardless of the size of the subscrip-
| ton by a state bank subscriptions can
/ government. Their money must be
| paid to the national bank, where it is
| held by the government as a deposit
| pending final distribution of the fund
/ among the allies.
Il Want an Equal Chance.
We want to be just as patriotic as
anyone said one prominent Kansas
state banker. we will probably sub
scribe as heavily as the individual ma
/ tional banks and it seems that in jus
/ tice We should have an equal chance
with the national banks in making
/ subscriptions Yet under the bill We
I cannot secure the bonds direct from
/ the federal department. nor can we
make our remittances direct. Instead
/ our subscriptions must be placed di-
/ rectly with competitive national banks
! where the money is held on deposit"
There are 1000 state banks and
| trust companies operating in Kansas
| under supervision of the state bank
ing department There are slightly
more than 200 national banks in the
state. In the nation there are ap-
proximately 1000 state banks as
against 5000 national banks. AS a re-
suit of the provisions of the war loan
/ act, there is prospect for opening of
the old feud among the state and ma
| tional bankers.
Appeal to w f. Wilson
| Many Kansas state bankers have
| appealed to Senator Walter E. Wilson.
| state bank commissioner. in an effort
to overcome the provision in the bill.
| While the state bankers have declared
j they are anxious 10 do their share in
placing the seven billion dollars worth
/ of war bonds, they also demand equal
| recognition with the natl nal banks.
4 While the state banking department
/ has taken no action in the matter. it
was rumored in state house circles
to-day that Commissioner Wilson would
! probable direct d letter to all state
bankers outlining provision of the
war loan bill and procedure in secur-
ing bonds and certificates. Several
state banks have agreed to handle the
I bonds without expense to the govern
men or the individual investor. Prac-
/ tically three million dollars worth of
war bonds have already been sub
scribed by banks in this state Topeka
/ banks have agreed to take a quarter
/ of a million dollars worth of the first
4