The Hayti herald., 1919-09-18
BONDH0LDERS AND,
BANKS WILL KEEP
LAND PROSPE
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
U. 8. Treasury.

No group Of men in the United
States measured UP to the test of the
great war more admirably than did
the bankers. The success of the Unit
ed States Treasury Department in
floating over $21 .0O0, 100000 in Liberty
Bonds and Victory Notes during the
past two years was due In no small
measure to the patriotic cooperation
Of the banks. They took 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
lgreat service in reconstruction coop
Grating with the government in It's
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-
tion In general at the same time.
Now that the war is over, the people
should be impressed with the wisdom
Of holding their government 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 resources to furnishing
adequate credit to the commerce and
industry Of the country.
Providing short-time credit to Co..,
merce and industry is their normal
peace-time function. The sale and
movement Of farm crops, manufac-
tured products and other commodities,
as well as the continuous and efficient
employm mt Of labor, in fact, the whole
, industrial process will be promoted
by permitting the commercial banks
to devote all their resources to this
function.
The people OF the United States
should, therefore, be encouraged to
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
bor for the production of commodities
which are now so desperately needed
the world over. At the same time they
will be Strengthening themselves a
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 tC
his entire financial structure and al
the same time yield such excellent re
turns. The less one can afford Il
risk his funds, the less time he has
to devote to his inyestments, and ths