The Weston leader. [volume] (Weston, Umatilla County, Or.) 189?-1946, 1918-07-12
UNCLE Sam AND TIE BANKS

ernment rs unable 10 cat ltS CAKE
and have il too" Not only SO, but
il must cat its cake before the
cake is supplied by the people, using
the banks ~ a temporary commits
sariat.
The government is asking the
banks Of the nation for $3.50. 900, 600
every two wecks--an amount APP
proximating two and one-half per-
cent of their grosS resources. Up
10 the first of November. 1918,
the amount loaned to Uncle Sam
by the banks will have reached the
enormous total of six billions of dol
lars. The certificates of indebted
ness bearing a percent interest
which are issued to secure the
banks, will then be redeemed from
the proceeds of the next great Lib
erty Loan, which it is expected will
be floated the latter part of 0cto-
Der. 1t will be observed that the
proceeds of this loan will virtually
have been mortgaged to the banks
By Uncle Sam, thus indicating his
constant need Of vast sums in the
financing of the great war in behalf
of himself and his allies.
The banks are patriotic. They
are straining every nerve to meet
the governments demand-for a
demand it is. They did not fail last
February. when a similar plan was
adopted. and they will not fail
now. They are impressed by the
governments appeal as set forth in
the letter dated juno IL received
by The Farmers Bank of Weston
from Secretary McAdoo:
Already more than 100000 of
our splendid American boys are on
the soil of France, and many of
them are actually fighting among
the heroic defenders Of the West
ern front. Fresh contingents Of
American troops are constantly go
ing forward to France, and this
stream will not stop until there is
enough of American manhood and
valor on the battle line to defeat
the Kaiser and his minions and
enforce peace upon the. righteous
basis which will make secure the
liberties Of mankind. Americas
sons are dying daily in those bat
ties of fire and poison gases that
are now raging in France. The
heart of every American must
thrill with pride and emotion as
he thinks of the sacrifices our sons
are making for our safety and
our liberty. The bankers of the
United States can render a pecul-
iarly helpful service to our gallant
sons by keeping the Treasury of
the United States supplied with
the money required by the Gov
ernment to furnish every Ameri-
can hero with the things he must
have to fight VIGOROUSLY or to die
gloriously. / am sure that no
patriotic banker in the United
States will fail to do his full need
Of essential service to his country
and to her noble defenders.
The banks, in fact, are learning
the lesson of self-sacrifice and de-
votion. They are learning of things
greater than profits and noblerthan
dividends. Not only do they free
ly loan their funds to the govern
ment at rates Of interest much less
than received from ordinary cham
nels, but they do a vast amount of
free clerical work and do it cheer.
fully. To q degree greater than
any other class of business insti-
tutions they are essential to tri-
umphant conclusion of the war,
and the public should aid them by
refraining from any requests for
loans except such as are indispensa-
BILE. In this connection an editorial
article which we clip from the Sat-
urday Evening Post is pertinent:
Whatever else may be debatable
in this matter of economizng to
meet the war, one point stands out
clearly enough: There should be
no borrowing; no use of credit ex-
cept for productive or really neces-
sary purposes.
This applies to the individual.
he has no business to borrow or go
nto debt except to increase his pro-