Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1918-07-01

/ am going to go further than that
and say to you, and want this said
to every banker in the Seventh Dis
trict. because I have no apology to
make for It: there are only two bank
ers in the district that are not going
to buy their quota Of certificates. One
of them is the banker who has so mis-
managed his affairs that he has Meth
err credit nor loanable funds with
which to extend his operations in any
direction. Disgrace and disaster is
already upon him. And the other fell
low, the other bank that is not going
to buy the certificates, and / say it
after thinking it over carefully, is the
bank which, offered by that man or
that set of men who are not 100 per
cent American are willing only to do
their part in the way that best suits
them and not their country.
And l expect you men to quote me
in as broad a way as you please, that
stand or fall by that assertion.
They must come across. If you
meet a non-member bank with capital
and all other requirements sufficient
to put him into the Federal Reserve
system and he commences talking to
you about his objections to it:
ooh, but they take all my interest
on my reserve and l will have to put
up my capital stock and they will take
Off my graft On exchange and they will
do this. that and the other, and l don't
like the Comptroller's department..
Listen, men, there is nothing the
matter with the I. w. W. and the Sim
Feiners except that But! Butt That
is all. There never was better fight
err on earth than a fighting 1rishman
and he is willing TO fight in this war,
but he wants to do it like he wants
to- 1t is no excuse to say that you
don't like the Comptroller's Depart
ment's business comes first and that
the other about the Federal Reserve
bank. The only question is, that it
offers you way to do your duty, and
the question is, are you big enough
patriot, big enough American, loyal
enough, patriotic enough to get in and
do your damnedest all the timer
Gilbert Knudson of Jewell offered
some timely suggestions In his judg
ment all the banks of the county not
now members of the federal reserve
bank should join that association
without unnecessary delay. 1t gives
members macy advantages and will
enable all solid banks to meet gov
eminent requirements. The govern
ments business come first and that
must be taken care Of at all hazards.
Bankers of tie county who were not
in attendance at this meeting missed
more than they may believe. Every
one present not now belonging to the
federal reserve bank indicated a de-
sire to know more about the institu-
ton and expressed the opinion that
he would join as soon as he could.
All bankers Of the county will be
called upon personally and the matter
fully explained to them and there is
no question but that Hamilton county
will take care of its full quota Of gov
ernment certificates of Indebtedness.
V. C. Crosby of this city entered in
to a brief discussion of the condition
of the long time loan market and i'm
parted some interesting information.
He said there were fewer loans being
renewed than usual and more partial
of principals being paid than
for many years. Farmers having
ready money were reducing indebted
ness instead of making new invest
ments. There is little private money
upon the market for yearly loans.
The money that is paid on the prin-
cipal OF long time paper, such as farm
loans, leaves the community and to just
that extent Affects adversely the ready
supply of the circulating medium here
at home.