Durant weekly news. (Durant, Choctaw Nation, Indian Territory [Okla.]) 190?-1944, 1918-10-25
.-.Y
Banks Asked
toCuirtail Loans
Nom Essential Loans Must Wait O,l
War Necessities, Says Government.
Banks Called on for Government :
Pressing Needs.

The Federal Reserve Bank of Dal-
las is sending out to the banks The
Eleventh District the following letter
relative to the curtailment of non
essential loans, which interests di-
rectly everyone in the county who
has occasion to borrow money from
a bank:
To Bank Depositors:
Nothing is more vital 70 the win
ming of the war than credit
The Government often has to bOr-
row immense sums temporarily, and
the banks must stand ready at all
times to lend the Government what
ii needs.
| The ability of the banks to lend
is not unlimited. Ii is just as nee
essary for them to conserve their
lending power as it is to conserve
coal. food. steel. and other cOmmod-
itics for which the war brings alb
normal demands.
| Besides. credit means the ability
to r.lInmlaud labor and materials, and
nothing must stand in the way of
the Government in II sneed for labor
and materials.
If you are producing. manufactur-
ing. or distributing things needed to
prosecute the war or maintain the
health or efficiency of the civilian
population, you must be Able TO OBJ
tain the credit to which your needs
and your standing entitle you.
But If you are to have the credit
you need for these essential purpos-
es. those whose purposes are not as
Essential must limit their demands
for credit: and you. yourself. must
ask ter :as little credit as possible
for unnecessary purposes, for per-
sonal loans ~ carry securities. to
build home: to buy an automobile
or to do amy ;Of a hundred things
(which may be entirely proper in
times of peace but may not he proper
lin wan.
New loans will rarely be justified
d Nn1ess 4hey are to aid directly In the
prosecution of the war. and every
bank. has been asked by the Govern
ment to request all its borrowers to
keep their demands for credit down
to the very minimum.
Patriotic citizens whether in bus.
incSs or not will want to cooperate
with this necessary Government pol.
ICY.
The way for producers. manufac-
turers, and merchants to do their
share and reduce their credit re.
quiremcnts is:
Il by not Overbuying.
BY carrying as small stocks OF
practicable.
by postponing new construction
or their business.
II In hnc
The way for individuals to de
their share and reduce their loans IL
! to study their personal expenses ant
, effect economies.
IL your bank asks YOU to reduce
your loans or declines a loan as be
, ing non-essential. don't COMPLAIN
, do your bit. cheerfully accept Tho
situation you're helping win tn,
war.
Borrowers whose loans are secured
by Government bonds or other col
, lateral. should remember that reduc
{ tion OF loans by selling collateral Il
I mot helpful. since II usually mprel,
I SHIRTS the burden to other shoulders
! Saving 10 reduce loans is a patri
. otic service only second in import
= ance to saving to buy Liberty Bonds
: and War Savings Stamps. Both hell
to transfer ~ the Government tn,
: ability To command the labor ant
I materials of which President WilsO,
! has said the Allies are in such des
: perate need. Both also help To ac
rumulate for the saver a purchasin,
power which he may need when tn,
: war is OVER
7 The Federal Reserve Bank of Dal
= aSAAns~ tht tsbahks fKfts distriCs I,
n send this message to their depositors
fetling sure thar II WIFI meet '&itl
their prompt cooperation.
FEDERAL RESERVE BANK
f0ErSDAEINS. 'Tt-:~ -r-sesN