South Bend news-times. (South Bend, Ind.) 1913-1938, 1920-11-06
FoTeig1 Rate 81 65 pr mont
NOVEMBER 9. 1920.
WHITTIER ARE WE GOING2

Social. economic industrial agricultural Labor
unrest in every sense self-centered. competitive,
belligereut: cooperation approaching the edge Of
quantity with mankind cynical suspicious. and
in consequence the individual conslderate only Of
his own that seems where we are headed for,
we have not already arrived. The dollar mark
stands high above everything. Gathered in groups
society business industry. agriculture labor CLASH
fed as for fuIhIment OF that first law of nature
preservation.-and the devil take the hindmost
well. what you going To do about it2
Evolution proceeds by mysterious ways Therefore
labor one unon-the Brotherhood of Locomotive
Engineers-iutent upon declaring a certain indie
pendence Of organized capital, has entered the
banking business. 1t win do general banking bus-
ness for all who may come to it, but its Urinary
object to for the banking requirements Of
the brotherhood
The farmers in some Of the western states have
been establishing their banks lately and a
result of the big crops and the desire to hold them
for favorable prices. there is widespread demand
for cooperative farmers banks
How far is this movement to be carried? Are
we to have great groups Of labor banks agricultural
banks institutions ministerins particu-
larry to other groups? Is banking to become dis
tnctly class business. with different kinds of
banks for every economic division?
There is no legitimate objection to such de-
velopnlent. The ordinary bank is supposed to have
the means unc the desire TO deal fairly with all
classes OF patrons; but if the present system is
lacking in adaptabulty. disinclined deal uni
formly and disinterestedly with all classes. tho
natural remedy is any dissatisfied class TO set
up its banks.
There is one phase OF the matter, however. that
tends to induce sober reflection. The chief purpose
OF the new class banks is to provide facilities for
easy borrowing. More credit and easier credit
needed in some quarters, but is there not danger
OF overriding IT. is il really good thing make
it easy fer everybody to borrow money?
Provide all possible facilities for deposiuns
money 10y all means But far as the average
citizen concerned, in his average affairs isn't it
70 his advantage to have money rather hard TO Dor
row. Isn't there Pretty nearly much credit in
this country now is good for people?
Certainly. but that isn't the question at ALL even
though pertinent and material The thing at issue
underlying that bubbling forth. the
demand for social democracy. and. failing in such
attainment dollars and positions standing i'm the
way. evolution is taking to the other extreme Of
group independence and that too with dollar
standard
The labor banks contemplate the dollars OF the
working man. colontzcd and held for use by the
working man AT reasonable rates for the build
ing OF homes. or whatsoever purpose he may wish
10 put them same with the farm banks wi,a
the farmer and SO on The farmer will colonizc
farmer money to enable farmers TO develop Their
farms and 20 maintain their crops. hold them less
the mercy of the grain spectators and the stock
yards.
When capitalism. rs you see il, conferred in the
Old-iine banks. serving industry the mercantile
world. and other financial interests wants to em-
ploy the earnings of labor or of the farm il will
nave 10 go TO Che labor banks or The farm banks