Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1918-01-01
ECONOMY URGED
DURING THE WAR
SUGGESTION TO BANKS TO PRO.
MOTE THRIFT CAMFtIaS PEG
PIE ARE TOLD Tt - IN EV-
cry DIRECTION.

| WASHINGTON, Jaa IA New
Years plea for wsT Cme economy to
assist the United tates in financing
itself and the allies was issued last
night by tn feveal reserve board in
the form Of q suggestion to banks to
promote t.3rit campaigns in their
communities.
Let the public realize" says the
statement, that it is more respect
able in such war times as confront us
to be seen in old clothes than in new
one''
The banks are urged to teach in
their districts the meaning and the
necessity of saving and it's relation to
the successful financing of the war
tc tell the city merchant and the coun-
try storekeeper that this is not the
time to buy and stock up, especially
with luxuries.
Let the people everywhere be en-
couraged to consume fewer things, and
le those be the simple and substantial
things that are necessary to health and
strength.
Let the banks tell. the people of
their communities and their authori-
ties, the mayors and governors, that
this is not the time for cities to be
spending money on public works;
rather should they be considering the
suspension of existing work with the
view Of releasing men and material for
the use of the government and so as
not to compete with the government
for the savings of the people, thereby
weakening the ability of the govern
ment to place its loans"
Fully as important as economy of
goods Is economy of credit and its
limitation as far as possible to essen
tials of the war, the board declares!
War financing in the last analysis,
says the statement, means putting
the government in possession of goods
and services. Financing by loans
means the sale to the government Of
goods on credit To win the war our
government and the governments with
which we are associated must have
goods and services. 1t is of as much
Importance, therefore, that the gov
eminent should be helped to procure
the credit it requires with which to
pay for goods.
"In neither respect are the American
people as yet cooperating to +
fcient degree, primarily bee luse they
have not yet been adequately impress
ed with the paramount insne~ta''e' &
their co-operatiAvcton to ds ssCI, ..ioe of
been. .Sad, 0No -.Jn-they have not yet
ar - =. .n,,ue thoroughly to realize the
fact that the success or failure of the
war, in brief, the fate of the country
lies in~their hands"
Banks are urged to tell the people
that by saving they serve their coun-
try in these four ways:
81. They enable our own govern
ment and our allied governments to
obtain the goods required with the
requisite speed. AS everybody knows,
time is the most important factor at
this juncture Coal, copper, steel and
foodstuffs are cases in point.
"2. BY saving goods not required
BY the government they release cor
responding quantities for export to
other countries in exchtnge for which
Needed supplies may be secured. To
illustrate: II everybody in the United
States would cut down cousum~ ton
OF cotton and wooden even to a slight
extent, good to the value of m lions
oI dollars would be available for ex-
port and could be made on the basis
of exchange to pay for much needed
, supplies of copper and nitrates for
ourselves and beef and wheat for the
use of our allies, obtained sin South
America
'3. BY consuming goods in smaller
amounts not only are goods saved.
but money is savo1 and the people
thus put in position to absorb and
pay for the war loans of the govern
msnt ont OF the savings.
q. BY Diminishing the consump-
ton of goods and by paying for gov
eminent bonds out of savings instead
o. from funds borrowed from the
banks, both the rapid risesof prices
o. goo@s is retarded as well as bank
irg imitation whi<- accelerates the rise
Of prices.
1T cannot have escaped the atten-
ton Of the banks that since the be-
ginning of the war deposits have in
cresaed at rapid rate. and that loans,
discounts and investments have grown
at an even more rapid rate 1t Is
true that he federal reserves hold
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