Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1919-10-03
HEAD OF NATIONS FINANCES
MAKES STATEMENT SHOW
ING BANKS GREAT WORK.
u. s. SECURITIES ARE BASE
Sensible Saving and Wise Spending
on Part Of the People Necessary
for Continued Prosperity
Of the Country.
BY Carter Glass, Secretary Of the
v. 8. Treasury.

Gu BEOup OI men III the Oultou
States measured up to the test Of the
great wal more admirably than did
the bankers. The succc ss Of the Unit
ed States Treasury Department In
floating over $21. 900, 600. 900 In Liberty
Bonds and Victory Notes during the
past two years vas due In no small
measure to the patriotic cooperation
Of the banks. They took a most active
part In each of the loan campaigns.
They subscribed generously for
themselves. made loans to their Gus
toners in order that they might buy
bonds. and sold bonds on installments
to accommodate those having small
savings.
In other words, the banks did ev-
erything possible to promote the sale
and distribution OF government secur.
tiles.
The banker can render an equally
great service In reconstruction coop
Grating with the government in its
movement to teach the people of the
United States the lessons Of sound
finance and wise investment. In pro
noting this cause the banker will aid
his institution and the financial situa'
ton in general at the same time.
Now that the war Is over. the people
should be impressed with the wisdom
Of holding their go !ernment securi
ties and also of purchasing more.
from time to time. The more general
ly the people OF the United States
absorb our government securities the
greater will be the ability Of the com
mercial banks to devote practically
all Of their to furnishing
adequate credit to the commerce an(
industry Of the country.
Providing short-time credit to com
merce and industry is their norma
p~eace-time function. The sale ant
movement Of farm crops, manufac
tured products and other commodities
as well as the continuous and efficient
employm 1T Of labor, in fact, the whole
Industrial process will be promoted
by permitting the commercial banks
to devote all their to this
function.
The people Of the United States
should, therefore, be encouraged tc
pay off their installments and borrow
ings on bond collateral as rapidly as
possible, and also purchase additional
government securities as issued from
time to time or in the market. II this
Is done the people of this country
will be benefited In a two-fold way
In saving to pay their loans and in
stallments and also In order to buy
additional Liberty Bonds and notes,
Treasury Savings Certificates and War
Savings Stamps, they will refrain
from waste and unnecessary expendi
lures and thus free material and la
Dor for the production of commodities
which are now so desperately needed
the world over. At the same time they
will be strengthening themselves d.
nancially.
No one can do better than to make
a substantial proportion Of government
securities the foundation of his invest.
ment fund. Nothing else will give
such sound and unfailing support to
his entire financial structure and at
the same time yield such excellent re-
turns. The less one can afford to
risk his funds, the less time he has
to devote to his investments, and the
less experience he has had In the
things which are daily affecting the
values of ordinary bonds and stocks,
the larger should be tie proportion OF
his funds invested in securities which
need practically no attention, which
are acknowledged by all to be abso-
lutely safe, and which yield a satisfac-
tory return.
Therefore, on account OF the direct
financial benefits to the investors. on
account Of the indirect assistance
which 1t will give the government. and
account Of the effects in bringing about
normal financial, industrial and liv-
ing conditions, I bespeak the COOP
GRAFTON Of all the people and especial
ly Of all saving and investment insti-
buttons In the promotion Of nation
wide saving and the distribution OF
United States securities among the
people.