Pine Bluff daily graphic., 1918-06-22
JEFFERSON BANKS ID HELP FINANCE THE GOVERNMENT Will Loan $1,250,OOO for Expenses Between Now
 and October l. TO BE LIQUIDATED
 BY LIBERTY LOAN Chairman JO NichOl of Twelfth Loan District in State Returns from Federal Reserve Meeting in
 St. Louis.

Jefferson county banks probably will he requested to lend $1,250, ,00O to the government for war expenses between now and October 1, accord ing to Jo Nichol, cashier of the Sim mons National bank and chairman of the Twelfth Liberty Loan district, comprising six counties in Arkansas who returned yesterday morning from a two-day conference Of chair men in the Eighth Federal reserve dis trict in St. Louis.
 The government will borrow from banks throughout tte state $3O,00O,000 in that period, or 20 per cent of their total resources. Each bank will te asked to subscribe two and one-half per cent of its assets every two weeks. The government will issue certificates of indebtedness to the banks and these will be liquidated when the Fourth Liberty loan is float ed. The fourth loan will be for $6.0OO, 100000.
 w. l.. Hemingway of Little Rock, state chairman Of the Liberty loan, who also attended the conferences at St. Louis, has iseued the following statement to the hanks and to the public, urging the public to curtail it's requests for loans SO the banks can meet the government require ments:
 "The secretary of the treasury has announced an offer of $75O, ,00O. 900 four and one-half per cent United States treasury certificates of indebt- edness, bearing four and one-half per cent interest, maturing October 24. 1918. and has called upon the banks throughout the United States to sub scribe 10 the extent of two and one half per cent of their total assets erty loan is brought out, which will probably in October.
 "This means that great burden has been placed OH the banks of the country, and I am sure that they will meet it in the same patriotic spirit in which they have met other oblisa- tions that have been imposed upon them. The bankers are looked upon as the third line of defense, because the navy and army cannot win unless they have all Of the things that are needed. and to furnish them with these things large sums of money are necessary. It. therefore, becomes the function Of the bankers to see that this money is supplied As the bank CTS have not been fortunate enough to wear the blue or the khaki and fight on the battle fields of France, am sure every banker in Arkansas will feel it a privilege to have the opportunity to take his place in the ranks of the third line of defense. And. although approximately 3O,00O,- 900 will be required within the next four months, feel sure that the banks of Arkansas will subscribe this amount or more.
 "It is well at this time for the public to realize that these large credits that are needed for the proper financing of the war tend toward overexpansion. and that the best antidote for this tendency is thrift and saving on the part of the people not only in their private lives, but also in their business affairs. The government is not only in the market for labor and material, but 1t is also in the market for credit. and every. one should reduce his requirements of credit to minimum in order to make it possible to supply the governments needs with the least possible disturb ance to business"