The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1919-09-19
B0NlHOLDERs AND
BANKS WILL KEEP
LAND PROSPEROUS
HEAD OF NATIONS FINANCES
MAKES sTATEMENT SHOW
ING BANKS GREAT WORK.
U. S. SECURITIES ARE BASE
Sensible Saving and Wlss Spending
on Part Of the People Necessary
for Continued Prosperity
Of the Country.
BY Carter Glass, Secretary Of the
U. s. Treasury.

~ carter CLASS, Secretary Of the
U. s. 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 succc IS OF the Unit
ed States Treasury Department in
floating over 321, 900, 900. 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 Tor
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 ey.
erything possible to promote the sale
and distribution Of government secur-
tiles.
The banker car 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 sltua-
tion In general at the same time.
Now that the wal is over, the people
should be impressed with the wisdom
OF holding their go Iernment securl.
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 and
industry OF the country.
Providing short-time credit to com.
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 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 to
pay of 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. Al the same time they
VIII be strengthening themselves f.
nancially.
No n 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 lie 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 It will give the government, and
account OF the effects in bringing about
normal financial, industrial and liv.
ing conditions, | bespeak the coop.
GRAFTON Of all the people and especial.
ly of all saving and investment insti.
tutions in the promotion OF nation
wide saving and the distribution OF
United States securities among the
people.