Pine Bluff daily graphic., 1917-09-26
Bankers Declare Economy Necessary in Order to
 Win the War.
STATE BANKS FREE
 OF ANTITRUST ACT
Breckenridge Jones of St. Louis Says Acting AttOrney-G General Rendered Opinion Sept. 1O-IIirSch Tells
 of Helping Farmers.

Atlantic City, N. J., Sept. 25.-A na- tion-wide campaign of intensified thrift as a means of winning the war was suggested by speakers before the convention of the American Bankers association here today. The nations savings must be tripled, some of the delegates declared, if we are to be successful in our fight for democracy. "We have credit" one banker said, "but credit is pure fiction unless you have something to back it. Increased savings is an absolute necessity to win the war"
 George N. Edwards of New York said there is but one source for this country to go for the money to carry on the war and that is to the current savings of it's people.
 Breckenridge Jones, president of the Mississippi Valley Trust company. of St. Louis, speaking before the trust company section, brought out the point that the provisions of he Clay ton act, prohibiting interlocking d1- rectorates, does not now apply to the state banks or trust companies. rms was the opinion of the attorney gen eral of the United States rendered on September 10, but not made public thus far. he said. The act does con tinue to operate in case of national hanks, Mir. Jones laid special empha- sis on, the point that the trust com pany outside the system was at dis advantage in dealing in acceptances, member banks being able to discount eligible acceptances in the open mar 4v,o.fNY,rth cent tO one-half per cent lower than can pe done by non-member banks.
 How Bankers Aid Farmers.
 How the bankers of the United States have cooperated with the farmer to obtain a more prOfltaDle and increased production of food ana livestock, was related to the Ameri- can Bankers association today by Joseph Hirsch of Corpus Christi, Texas. chairman of the agricultural commission of the association. "This campaign for increased food, feed. livestock production, which we 1 have been advocating for five years, has become vital factor in the suc- | cessful conduct of the great enter ] prise of war upon which this nation | is launched" said Chairman Hirsch. Agricultural preparedness is just as | necessary as military preparation. We are endeavoring to apply efficien- cy methods to the business of farm ing-the greatest business of this country. The purpose of the bankers is to increase our agricultural pros- perity and at the same time make the banking business more profitable and infinitely safer by lending direction and financial assistance to the sound l farming projects advocated by those efficiency experts, the field forces of 1 the United States Department of Ag- l riculture and the state colleges of agriculture.
 "During the past twelve months we have redOubled our efforts toward the employment of additional county agents and no better proof of the wisdom of this policy can be offered than the fact that our government. 1 in it's campaign for increased food production, will endeavor to place a l county in the United States.
 "We have continued to advocate the development of the livestock in dustry and hundreds of calf, dairy, baby beef. sheep. swine and poultry clubs have been organized by bank CTS all over the country. Thousands of pure-bred cattle, swine and sheep have been purchased by bankers and have been sold to farmers and to children, member of livestock clubs, at actual cost. These movements are playing an important part in the campaign of the government to in- crease our meat supply. Illinois bankers have organized more than eighty calf clubs and as result of their interest. more than 5000 head of animals have been brought into the state.
 wisconsin bankers, in conjunction
 with the state agricultural college have distributed variety of seed which 1t is believed will increase the states wheat yield from an average of twenty bushels an acre to thirty eight and one-half bushels an acre. Michigan bankers hope to save the farmers of the state some $15.000,000 which is lost annually because of poor seed.
 I "The entire South has engaged up-
 on safe-farming campaigns conducted
 largely under, bankers auspices,