davidaulloa/AmericanStories huggingface dataset:
TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1917-08-10
Wsnn esetner ameriialuic,er

WeRn es elmer ameritailn Aen
Jirma seIunsen lit, Das Gsbsimuis,
peI9ss bic 9eritsuuns Don GoEI:ns
tbsers sJarbeu umsab. gu I6lsu unS Iis
10 btIis gu Iieferu, ais iis tisber psScs
gen puroen. 10 mare bas ein gyuBcr
Setpinn fir unfer 2unD. Sc uEa5s
bdngiger mir uns Dom auslanos ftsls
len, beito befier pirb es fiji, uns Isia,
5umal Doraus5uieben iit. bab na4 BEN
ariege Die allsemeins @elOnotb bea
internationaIen 5anbel fart 5uri:G.
balten uHb ale Nationen IiG benliibtn
iperben, nit bem aus5utommsn, fpcS
ibr 2anb er5eust, bemna9 bic Raiios
nen in bem Wabe fdtpa9 iem ners
ben, als iie iicb niht unabbGnaia tom
ausldno gu lteaen Dermosen. Sn biss
fr Siuiidt perben mir obne israge
Igrobe GefDinns gu DerSeitnen hdlsn.
Wis iibli6. fuirb ii9 au9 In bieIem
Sale bic Weltsei9i9te rpiebertolen.
uniere inbftriene Strait riibrt ous
bem Sabre 1872 Der, als mir DOR sus
rOpGiI9en inbuitrieiIen 3ufubren abs
sef6nitten paren unb iie iosar ielbit
perbinoerten. gis babin bate bic
Gnfi6t porgeberrfdt, bag mir mid. I'M
Stanbe ipdren, cine eisene Snbuif:ie
auf3ubauer unb mir befdnben uns
oestpeaen In elmer briidenten pirtbs
i6aftIi6en abbdngigtsit bon europa
Gber Die Rptb lebrte fnbrisiren. Sn
FOLDER Meife fperben mir aud i'm 8et<
ldife bisfes arisqs pis!e @adrer bsrz
ifelIeu Isrnen, bic pir Big iest aug
europa be5ogen baben.
Sn @iereds @eefln in reit
IdHserer 3eit eiu, Gr0rteruns, ar loci.
der fi6 oieIe aHgdebene perf6nli6feis
ten bes aanbss betbeiligen, iiber bic
Jrass i'm Ganse, oh Oeutid~ &meriz
taner, bic in ben 5eeresbienit einae4
ftellt perben, nidt Der peinIi9en Nots.
ipenoigfeit eniboben iperben iolIten. auf
beItf6e SoIbaten gu fditBsn, inter
bensn fid angeb6rige bon ibnen btfiE>I
ben f0nnten. inbem man iis gu anbrtnI
miIttdrif9en Dieniten peripenbei. Die
TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1917-08-10

Der 6arbiss Dm. Saell
pisberbolt feline ansabeu. pona9 Elm
beuti4es Sau9boot mutbpilig bic
Ranniduft zines torpsoirtsn brittitsn
StifIes bic n9elsien prinesb-, trs
trdntt baben ipu. poruntsr iif3 aun
Oeri9isbsue Imsriianer befunbsn bas
btn iollsn. Wir rparten nit unsebuio
auf bic Radrt6t, Oh bic Seborbsn in
Waibinsion, rsip. Der prdI Iiosnt DiL.
ion bieie 4nsaben fur suuerlGfig er-
a6tsn. llns i6etnsn iie unsIautiidj.
Wenn Der prdfhsnt iis fir fpabr bdls
ten iollts, 70 lit ss feline pflidt, burG,
etne neutrale Resisruns bon SeItit-
lamb ausfiibrIi6e auftldruns iibsr ben
Su6perbaIt unb gang ipsSi.a tis
Yeitrafung bes beutI9su Saadz
bootz&dpitGns 5u perlanaen. glccr
mir besen nidt ben minbeitsn 3tpeifeI,
bab ipenn bic bsutfhe Ree;srung
3enntnib bon bern @orfaII erbGlt uuo
i'm als tpobr befinbet. bic aneensHens
Yeitrafune bes adpitdns, bic in ridbts
ipeniaer, ols in Der @erbinsune Der
Scbesitrafe beftsben tSnrlts. uuf ter
'SteIls erfpfgen IafIen ipirb. 9ber zig
unbers getpsii,. aIs bic aasfaeen Ses
Sdrbiuen SnsI porlissen, tuerbsn mir
feline gnsaben als burd G6rsd b're
porserufene Sauucinatipu.n anf.t'n.
TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1917-08-10
geSenffid.

Qronfe: .,Gs fpdre mir iebr enge-
nebmL penn Gle mir bulb bic Redp.
infns ihiden ipoIItenis
elrst: % neiH, gn10ise Dral. bn.
81 rHiinen sis eft trdftioer spexbsa-
TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1917-08-10

- 4etbemann III, etHer
antperpener ReIbuns 5ufoIgs, nit
bern neuen Rei6stan3Ier ni9t SuTr;e>
ben. Was er als 9runb ansibt, so;ro
ni9t seiast unO ss pdrs intsrshant
gu erfubren, mas er ousduIeben
bat, bsnn iopeit bat Der aanSisr
i9pn 8ielss betpinist, NOS S9s;pes
mann seforoert bat. Oo5u sebOri por
alien 0inssn bic 3uftimmuna sam
Reiastagss sproeramm, bas auf lSEts
i6doisungen unb QuueTionea perSith :
let. au9 bat sr bic Ginfiibruns o,s
algeueinen Stimmrehts in qreaSsn
5u9eltanoen. Was bic Demotratiiirun9
Der Reifsreaieruna bstrifft, 10 lit oas
rim ebenfaas Ufan6es eef6ebeu, Deun
uuh uitt pisI, 10 bod geuls, I'm ben
auten Willen gu 6efunben. Cine opl;
Iiue aenberuns beg Spitems lam ni6t
erfplqen, uls Biz bic Rsi6sDerfaTnns
oednbert tpprbsn in unb bds fanu fer
aunsler ni4t aus sissnen Stiidsr
tbur. Ionbsrn mub biersu BE 3uitiTs
muno Der Majoritdt Der 8ureesftace
ten erlduoeu. fpds bod nidt obns Dsis
tsres monlid III.
TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1917-08-10

Sptpeit es bic gntiDiflEng
uHlsrer Wttltturma9t petrlrrt, sebt al
les Ieibli9 Don Staten. aaein in eis
nsr anberen ni9t minber tpt9t;aen
Sa6s bat bic Resieruns ibre organic
iatOriIfs SGbigteit nod gu srtpeiisa
uub bas 1T bic Bei4iisuns bes publis
tums DOR unsebiibrIi6er ausbeutuns.
Cine aritit, oab bierin ni9ts 9ef6s.
ben 1T, mare Htht bers9tist, ba ss Bis
jeBt an ben nOtbisen Iesislatipen
gOlmaaten sefeblt bat. SEPT, oa iis
Der Regieruns ertbeiIt porbsn iino,
taun ibr nidt brinsenb ssnus angsrls
then peroen, bub iie biefelben I6lsu.
nisit in 4nDenbung bringt, benn I'M
0olte beftebt eine unOertennbare Qer.
poiitGt, in 5olss Der 8efiirdtuna, bGb
bic IebiseR taum erI9pingli9en
preife nod b0ber dniDaaIen ntroen.
Damn 1T es au6 nit 5inii9t auf bic
finarBielIs nnterftiibung, pel9e bi.
Hsgierung bonn 8olte bur6 ben gne
tduf bon Regiersungsbonbs erDdrtet,
bringenb geboten, cine nod ar0bsr.
9beusrung, aIs jsBt fdon beite6t. nift
duftommen gu laiien, bo bic 20tEe
fonit niht ausreitben iuiirben, I'M ME
tdaliten 8ebiirfniFe su bedsn, gee
idtpsise nm Bombs gu fuufen.
TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1917-08-10
pie an{i@t pirb ausssirrO

den, bab bic bsuti9e Seeresleitun9 Is
aui bic GrObsruns DON ObsHa aog'
jebeu babe, I'm Die oortissn srO3'H
9etreibeporratbe in ibren geiis 5u
brinsen. OieIs 9lniiht 1T i4On fru'
Der ausssiprpasn porben, lebrtj
ipurne bic Sebsrri6uns bss S4par'
sen Wleeres als 3iped unssseftn.
9urd sau9boote iollte bic rufiif,'
GIOttr matt seiest iperOen, I'm FOLDER
@eiie ben ruifii9sn 6eIbsus in alsin'
aiien beoeutenb au srihpsrsn.
TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1917-08-10

Die Rriess 4ntaufsbs
hOrbs befaBt fih iest nit Der yrags,
mas unter eiuem argemeFenen Yrpfit
gu DeritebeH fsi, benn auf biefen foGsn
bic Gubrifanten, ipel9e @aaren an bie
Regieruns fief.rn, bef6rGnft iperoen.
in England III bas prin5ip feffgeFsIlt
iuorben, bdb Der profit ni9i iibss be
Rate binausssben ion, bic gu Sris'
TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1917-08-10

5m qOituifitsbrpartsm.nt purbs
eisisr Gage cine llntsriuaung beens
bet, bic has lingft psrmutbste Graebs
nib bate, bub unfsr IdnbIihsr ppjt,
ofsnft, Hsbit freisr grtefnblisf.runs,
cine febr ,rtraDagdnts ginri9tuna as.
fpeien TT. in rpelfer ss an .graft1
uno Ssoor5i.bangsn nidt ssfsbIi BAT.
es bat fi6 bsrausgefttat, bdb bdufis
gang uHn6tbigs ROntsn nur aur Be-
1uemli4ieii Don ipenigen, abr elm
flubrei6en gsrlonsn eiobIiri nurben
unb bic 3nbI Der iih niht rsntisrsns
ben @Outen ioIl Qesirn sepefsn fein.
Sn GOIs. Der Guqiitte fDurbeu fhpn
i'm Rs4uunssidbrs 1915 ni8t psai.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09

( president Of the association, declares
that the most useful service which
the bankers can render at this time
will he to discourage speculative
ventures, lend freely on unquestioned
values, and to adhere to conservative
methods of banking" He added:
THE most important change that
has taken place in American finance
since the association last met at At
lsntic City, just before the panic OF
1907, is the enactment of the Federal
Reserve law. In 1907 there was no
general organization among banks
ard no method of modifying credits.
Any undue demand for currency
brought panic. To-day, with bank
ing system organized under the Fed
eral Reserve law, credits can be mob
iized immediately, and financial sit
uations can be taken care of that
would have been impossible ten years
ago. The placing of the two billion
Liberty Loan with scarcely ripple
in the money market is the best evil
dcnce that can be required Of the
success of the Federal Reserve sys-
tenn.
II regard it the duty of the Ameri-
can banker to sell the bonds of the
government to the people, underwrit-
ing as few as possible, but buying
and selling as many as possible. In
the July number of THE Bulletin
o. the American Bankers Associa-
ton | issued proclamation urging
every banker to sell every Liberty
Bond he had on hand, so as to be
ready for the next issue. 1t is hard
70 say what will be the most impor-
tant questions that will come before
the convention. The fact that we
are in war will necessarily make it
war convention, and ! believe that
the question of personal service by
each one Of us to the government
will he discussed and fsvorably con-
sidered. At the same time we must
rot allow ourselves TO be stampeded
by oratory, but must always keep IN
r.ind that we must continue to think
coolly. l issued a proclamation in
the May edition Of The Bulletin Of
the American Bankers Association
that about states my platform"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09
Bankers Line Up
Behind Liberty Loan

The association virtually under
wrote the first instalment of the Lib
crty Loan, and the Atlantic City con-
vention is expected to enlarge the
investment. The discussions are sure
70 be interesting, since the bankers
realize their responsibility in the
matter, and will have to stand behind
the forthcoming offering in order to
insure its success. By raising the in
terest rate from 8 10 4 per cent the
government becomes a bidder for
the immense volume of savings funds
that are deposited with the savings
banks and with the savings depart
ments of commercial banks. How to
remain loyal TO the government and
protect their own business is some
thing for the delegates to ponder
over. II is a difficult question, but
it is likely to be answered on the the
DRY of government first" in all un-
dcrtakings Of this character.
Some Of the banks importuned
their clients to put in heavy sub
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09
Many Changes
Within a Decade

"a scheme was devised, which was
possibly the best and only one that
could be taken, by which short-term
notes were sold to the public, mostly
al one and two years, and paying
from to IL per cent interest. This
large interest, of course, tempted the
people who might have purchased
bonds, and the result has been 30 far
in 1907 we have had no bond market
The governmental hysteria has been
famed into fame by people who
thereby found better excuse than
any other for their mistakes, and
the result was that when Wall Street
began TO liquidate there was no one
TO buy, and no matter how good and
valuable some of the securities were
they were thrown over at great
sacrifce."
This was prophetic, for the crash
soon came, and thereafter the adj
dress was referred to as the most
suggestive of the year. The episode
gives interest to the farreachins
changes that have taken place since
this warning was uttered, for within
the last decade the country has Sc
cured flexible currency system, the
railroads are reporting record earn
ings, the nation has accumulated
more than one-third of the worlds
gold supply, and corporations, great
and small, have very much more
working capital than they had then
Fortunately, therefore, the present
situation, Notwithstanding our en-
trance into the most destructive of
all wars, is in all respects stronger
than that created by the conditions
Of ten years ago, when the country
had just passed through a period of
reckless speculation and the money
strain was terrific.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09
Says Policy of
Isolated National
Life Is Wrong

DR.. Horiye, a professor Of kelo Uni
ver,ity Toxic, contributes 10 the
"Taiyo" long article denouncins the
theory that Japan should be sell
supporting nation. He remarks, q"
cording TO "The London Economist
that though attempts have been mae'
to check the growing intimacy OF eco
nomic relations between nations, oy
adopting protective duties, in no case
has such an attempt been conplstsy
successful. Such devices may disturb
the natural conditions, as far as suppP
of goods is concerned, but cannot eheeA
the influx of foreign capital, people sa'
shipping. For instance, Russiss hs"
protective system has led to Germans
establishing many undertakings IN R1s'
STA and to a constant influx Of German
ard French money. The war has uh'
fortunately, given a great impetus
the idea Of the necessity OF plselns
every country on selt'suppor'hs
basis. The question arises, viii su'H
an isolated national life be realizea ~
Europe after the war, and will u %S ~
yissble for Japan 10 pursue such ~
icy? The advocates OF the ldeA w."
TO be under the impression tnSI
policy is one which can be easily 20 60
:ied out if set about in a whole'nes''''
way. ar.
The writer. THE Economist ~
ably shows, however. that wnile W.
many has gone much further thsh ~
other country in organizing TINS ;Vit =,
preparedness for emergencies ~.
present sutferings under the pio1As -.
prove that her schemes, howe'ets o,s.
sighted, have been q failure. no
conceived in the Interests OF mlIIIsIs
this system Of economic indepe"u I'm.
makes II impossible that tui ~ Il
should be given 10 mllitarism, ,r;,s
obstructs the development OF ~ In.
and commerce, and restricts ,ess
crease Of population. some JSptb hat
publicists jump TO the conelusiV" oIiey
Britain will change her eeonomIe Yer
after the war. Britain has, now,
pursued q sound policy FOR many nose nose
and has prosYered thereby, 10 ilr 10
that she will suddenly change u I.s.
Judge her by the standard OF ihs .os.
snese people, who have no setied m.s.
viction, in such matters, ana Ter
nothing Of altering a plan soon Dr.
adopting Il. Economic ideas, sAys /,
Horiye, have made little pros'esN, NAM
this country since feudsl days. d
still believe in the narrow theo'"e
som. centuries ago. and regard go a,
trade as beneficial and import u 40
OF no benefit, and entertain sr, q
prehen.ions when speeis ho~s wv
the country.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09
Country + ortihcd for
War Market Perils

F. NJ. Kirby, president Of the
Miners Bank Of Wilkes Barre,
Penn, refers to the striking changes
in conditions:
AT no time in the career Of men
now living has the financial outlook
been so full of interesting possibili-
ties. 1t is difficult to forecast the
future because there are no prece-
dents to go by. While this is so, it
is also true that the country has
been never better fortified TO meet
the perils Of war market. We have
plenty of gold, record banking re-
sources and undoubted soundness of
mercantile affairs. Compared with
the enormous prosperity of the coun
try and considering the incentives
for speculation, there has been and
is, to-day, relatively little specula-
ton of the dangerous sort. The
American people are living conserva-
lively. and the American business
man is providing for the future with
an eye single to war hazards.
"This sort of conservatism has
saved us from the recklessness pre-
dicted in many quarters when the
dimensions of last years bull market
were taken into account. | think
that the country has kept its poise
well under the circumstances and I
believe that very good times are
ahead, barring, of course, the devel-
opment of some new issue of great
disturbance caused by the war and
the chaos abroad. The bankers of
the country have shown splendid
team work in laboring early and
late for a scientific solution of the
vexatious problems growing out of
the war. ! feel sure that the COM
ing convention Of the American
Bankers Association at Atlantic
City will take high rank in the Sc
ries of noteworthy gatherings held
by that organization. The fact that
the association is to confine its dis,
cussions to war problems is full of
human interest.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09

to lend, and we are fast developing
banking organization fitted to cope
with the difficulties Of an interna-
tional market. We are doing bust
ness to-day on wholesale lines.
whereas a decade ago we were re-
stricted by the limitations Of q retail
market"
The head Of an important Ohio
hank having relations with large
business enterprises says that the
biggest thing in the financial outlook
is the trade acceptance. He makes
this statement anonymously: "If the
mercantile community will furnish
the ammunition to fire the guns
that is, trade acceptances--there is
no limit to the power of the national
banks, through the Federal Reserve
banks, to meet any requirements
that might arise. Country bankers
are afraid Of the word 'rediscount.'
They have little paper in their hands
that could be called trade accept
ances. Our experience with the
country bankers has been the most
pleasant and profitable part Of bust
ness. They are men of character
and ability, and stand high in their
several localities. Their borrowers
are different from the general run in
larger cities, and yet their losses are
ratively small and their en-
cagements to their reserve city bank
ers have been faithfully kept. What
is needed is that the Federal Re-
serve banks, twelve in number, con-
meet themselves, as it were, with all
their clients and depositors. The
situation surrounding the country
since the entrance Of the world into
the war compels us now to talk Of
billions where, formerly. we were
willing to talk Of millions. How gen
eral business will be enacted under
the new requirements Of the nations
needs places US in a position that we
have never been before. Prediction
as to the future no man can make
with any assurance"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09
Trade Acceptance
Banks Ammunition

"Curiously enough, this meeting
will be held at time when the short
term note expedient is being resorted
to again by corporations in need Of
cash. Ten years ago, when the con-
vention was last held in Atlantic
City, the output of short-term notes
gave rise to interesting discussions.
There is no comparison, however, be-
tween the strength of underlying
conditions to-day and those existing
decade ago. We have made i'm,
nense progress since then and the
Ration has made giant strides
toward financial independence. We
are now the only nation with money
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09

He told them that b. wa. youp, a.,
strong, and vigorous; that he va, Io,.
ing for work, hard work. and that.
had TO have II. He said 80 in av.,,
few words. The words were IRE. a,
mistakes and the paper va. el.,, =,
little dabs Of ink and botehy looti,,
places. II was not such q rsm,,.,y.
production. just like the boy--siue.,,
plain, thoughtfully worked out. tu,
neat and it was true. II happened ,s.,
the hands Of one Of their ex.euti-.
The official liked IL, and It Got II.
writer the appointment his calls Of u.
day before had not. The sppointrr.
got the boy his job, and the ma, !,
due time arrived. So much for tie a..
plicant.
Letters That Talk
Men have mad. q business Of -ri,I,,
speeches, but few Of them have mad.
one Of writing letters, even their oyr.
For the boy who looks for his chance
the letter may get everything or metz.
ing. For the man Of affairs IL may cor.
stitute business finder, a r.pell.ns [,
loser Of old friends or maker Of n.r.
a collector or non-collector Of new
and old accounts. II may be all power.
full in aid and most effective as drsr
know men who claim that nothing in
business is impossible TO the forc.!ul,
virile letter writer, and believe then.
Form, structure, contents. message
there is much 20 include. Fer the pos.
crful letter-potent Of punch sliy,
with human appeal, packed with good
business, suggesting friendlin.ss, pro.
noting understanding, facilitating trad.
virtually nothing is too much. Il
promotes and it coneiliates; makes bar.
gains, then binds them. For the letter
stripped CT its meaningless, clutterirs
phrases and sentences, filled in,,.,d
with tn. spirit OF modern efficiency md
the method of practical business, tier,
is mounting field Of service.
New opportunities for the Yank..
merchant appear overnight from all o.
the Seven Seas, and he is receiving a
chance. Mails 60 where traveller,
often cannot fare. Less OF tn. bar
gaining Yankee, NOR. of the cosmOpcll
tan trade-g-tter with an understanding
of races whose customs are not as hi,
and never will be, ard there are rcs
important fields for the Americas
establishment.
1t is but another opening for the mar
who can put his thoughts to paper with
clarity and sense and purpose so thai
all the world may see-and understand
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09
From Sioux City Comes
Warning Against Imitation

John J. Large, president of the
First National Bank, Of Sioux City,
Iowa, utters this warning against
overexetension:
"The business outlook in this part
of the country is very good for the
next six months. Crops have been
good; prices are high; people are do
ing business freely. The biggest
problem, MS ] see it, before American
bankers to-day. is TO keep things
from becoming too much inflated, and
to keep credits within bounds. Spec
ulation should be kept down wher-
ever possible, as there is sure to be
lot of troublesome problems to
settle, no matter how carefully bust
ness is conducted. | believe the Fed
eral Reserve banks will play prom
inent part this fall in handling the
large business and the exceedingly
large government credits.
II do not look for any trouble in
the money market this fall. do
look for good stiff rates because the
demands Of the government will take
up the available supply Of capital,
and compel considerable rcdiscount-
ing on the part Of banks. | do not
see why a 4 per cent government
loan will affect savings bank depos-
its much more than one that draws
31a. A certain amount Of subscrip-
tions by people who keep money in
savings banks will come out of their
savings account. I do not think that
the rate will make much difference.
| believe the rediscount facilities of
the Federal Reserve banks will be
used very literally this fall"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09
Much Depends on
the Newspapers

An exceptionally able interior
bank president who thinks that 4
per cent government loan will not
seriously inconvenience the savings
banks says that the new cash re-
serve requirements for national
banks are ample, but that each bank
should be largely law unto itself.
He added; "The bank ! am presiding
over never allowed either the old or
the new reserve law to regulate it.
If it had, it would be in a financial
stress every week. The accounts in
that bank are largely from corpora
tons, cotton buyers and wholesale
concerns. They draw internationally
and largely. So that bank carries, at
least, twice the requirements of re-
! serve prescribed BY law.
The next liberty loan ought TO be
thoroughly and Systematically adver
tised. Then the newspapers ought.
in an impersonal way, to tell about
the advantages of government
bonds; how they are free of taxes
and how much that saves; how
quickly they are convertible; how all
bonds in the past have appreciated
in value; how the French have been
educated up to this long time ago
and prefer government bonds to any
other form of investment. think
third loan Of Az per cent would dis
arrange savings banks considerably.
I hope the rate will not have to go
to Az per cent"
William R. Dawes, vice-president
and cashier of the Central Trust
Company of Illinois, of Chicago, has
this to say about the banking fra
ternity and the next government
loan: at seems to me that American
bankers will be obliged to act as
virtual underwriters of the great
war loans, whether preferably so or
not. 1t is one Of the situations
which we can not very we'll avoid.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-09

1t is not understood that the banks
should themselves subscribe for the
entire government loans, but that
We should act as the distributors"
The head Of prominent business
corporation in the West who CHANGED
TO hear that his bank president was
considering the chief questions to be
taken up by the coming convention
wrote him as follows: I'm this
crisis 1t would seem that the Ameri-