The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-03-26
For Good of
the Community
MONEY laid away during the war and

MH
4VA the grand lodge session of high
prices is coming from its recesses. The
American people first proved that they
knew how to spend when there was plenty
to spend. Next they showed that, while
spending freely, they knew also how to
put by'a tidy sum.
They further demonstrated business
canniness by holding on to their savings
until those who had things to sell came
from off their throne and again met the
4 people somewhere near the line where
I selling and buying could make an honest
dicker.
4 The savings deposits grew If the big
boys with hoardings held on to their
money and declined to turn it over to the
distressed big boys, the smaller man like
wise added to his savings until they broke
all records
But the American is no miser. He does
not love money for itself, but for what it
will get for him. When he thinks his
money will earn fair return, out it comes
from its strong boxes and away goes the
cart of investment spinning down the
road Rich and poor alike have begun to
let the stream flow.
What are the rich fellows doing? Theo.
III. Price, the veteran Wall street expert,
says:
Bond issues aggregating over six
hundred millions of dollars have
been brought out and sold since Jan
uary /. This fact, taken in connec-
ton with the rising reserve ratios of
the federal reserve banks and the
more abundant supply of capital
seeking investment, leads us to feel
that it will not be much longer posi-
BILE to buy good securities that are
readily convertible ons basis that
will secure return of more than g.
per cent.
Thus is the big money issuing from it's
hiding places and seeks the investment,
which has been seeking it SO long in vain.
This means cheaper money for the man
and communities wishing to go ahead.
The outcome is the going ahead already
manifested in public improvement plans
throughout the country, especially the
south
How about the smaller fellow? Is he
still going about the streets and asking the
other man to give him the last ounce of his
blood? Not bit Of it. For the first time
in many months savings deposits in Bir-
mingham, which had beaten the country
in the percentage Of growth, are being so
drawn on that the outgo equals the in
come and they remain stationary.
What are these smaller people doing
with their Withdrawals? Spe1isliEg it for
something to eat? For clothes to hide
their nakedness because they have none?
No; they are investing in the sound securi-
ties of local and other strong concerns and
they are taking out the money to build
homes. They are investing this money in
what promises a higher return and in what
counts for their responsibility and worth
as citizens
There are nearly S22,OOO,OOO of these
savings in the nine banks of Birmingham
alone This does not include any Of the
Liberty Bond holdings or the holdings in
building and loan associations. That vast
sum is there for the building up of Biz
mingham and is being used to that end
simultaneous with inpourings that serve to
maintain the even keel of savings
This is basic stuff. It is the kind from
which there is no getting away. This re-
leased money coming in. the millions of