El Paso herald. (El Paso, Tex.) 1901-1931, 1918-08-01
NO USE TO SCOLD; BANKS OF TEXAS
CAN ONLY DO THEIR BEST FOR u. S..

IN the next to the last issue Of treasury certificates the
quota allotted to this federal reserve district S1e
100000 and the subscriptions fell short several million dol
lars Therefore when the last issue announced, sub
sctions to close July So the quota was reduced to
S12OCOOO0 Again subscriptions failed up to
the quota Total subscriptions announced from Dallas
appropriated s1o,oOo,CoO.
IN this connection the director Of sales, Nathan Adams
Of Dallas has issued urgent suggestion TO the banks OF
the district cuTa credits $50 that they viii be prepared
to respond to the call of the government"
In another paragraph, M. Adams shows that he does
refer the cutaent of all credits but Of unneces
Credits writing: Ihe extension Of unnecessary
credits at this of the year viii permit the dis
ct 10 meet the full Quota He adds that less than 500
district participated in the last issue, leaving
more than 1900 banks shat have failed every way
in any way respond the call Of the government for the
money necessary to win this war
On the surface, this is very unfortunate showing.
Nevertheless may be that the 1900 banks may have thei
version They may be able to point to conditions
which have made It seemingly impossible for them to
spond TO the call Tor this pTenanong OF the Liberty loans
There are hundreds Of banks IN Texas counties which have
been drouth stricken for two years Either the banks had
carry the cattlemen farmers and people, they
would have starved Many OF them IN such distress
that they could not elsewhere without money
from Presumably Mr.. Adams has these
conditions into account and does not refer to them when
writing Of unnecessary credits
Any bank which lends money prevent foreclosures on
homes AID farms; any bank which lends money finance
the production OF transportation Of crop; any bank which
lends money to keep business industry its feet is
rendering patriotic service and Is be accused of
unpariotioaly seeking the eight percent Of the
private loan N preference to the smaller percent Of the gov
eminent loan At the time It may be there banks
IN this district which seek the dollar for their pockets
rather than the winning Of the and the triumph Of
world justice. One dkes to believe there any such
banks but there may be If they beneath contempt
and any hageations the director Of sales may fit
administer quite deserved.
But 10 one draw any hard and fast lines about
credits apply all banks in big federal reserve dis
tet wherein conditions vary greatly. The oaning head
OF each bank must be trusted to conscience and dis
ceon 1t is taken for granted that he viii extend
credit needlessy. At the time he asked
TO withhold leans essential the life of his community
The banker has essentials confronting him There is
the essentially Of financing the There is also the
essenalty Of helping finance the community, otherwise
the community VIII not be able to finance the by buy
ing Liberty bonds to say nothing Of the loss properties
and business through the Withholding Of temporary
The best that the banks do is look
interests carefully they can lending support
both to the government and to their communities.
As matter Of fact there has been some question
whether the quotas have been properly apportioned It
stands 10 tEt the comparative indus
tries IN this part Of the country ought taken into
account and the quotas assessed accordingly It is the
eastern and northern banks communities running over
with money and whose bank deposits are mounting accord
ugy that ought TO bear burden Of subscriptions in DO
portion to their enhanced business Banks in the south
west, particularly IN the Dallas district are as willing as
any to do everything possible to finance war but they
can only do what they can.