The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1922-06-24
BANKERS IN ARMS
Start Campaign Against @. s.
Treasury Certificates.
Detrimental to Interests of the
Kansas Farmers, Claim.
TAKE MONEY OUT OF STATE
Kansas Lost 100000 in Feb
ruary, Says Sec'y Partridge.
Will Result in Breaking of Ag-
ricuIturaI Interests.

Announcement of a statewide cam
paign against the sale of federal treas-
ury certificates and postal savings cerz
tificates in Kansas, was made in a
statement issued at headquarters of
the Kansas State Bankers association
here today. The sale of the federal
certificates was characterized as ''detri-
mental to the best farming interests
of Kansas as well as to the best bank
ing interests
The statement also contained the
announcement that letters are to be
sent Immediately to all members of
the Kansas State Bankers association.
asking for their views on the effect on
their business of the sale of such GER
tificates. The statement was given
out by Miss Emma d. Partridge, state
secretary of the bankers association.
More than 100000 was taken
from Kansas during the month of Feb
ruary thru the sale of treasury and
postal savings certificates" declares
the statement, land nearly $1,000. 900
in March. This process of taking
money from he state Is depicting the
capital of the farming interests and
is against the best interests OF the
farmer as we'll as the banker"
THE sale of these certificates is
merely a process of one arm of the
government taking money from the
state" the statement continues while
banks to take it back. The postoffice
department is the agent of the govern
ment in the first case, and the war
finance corporation in the second.
Kansas Loses $5O,OOO,OOO.
kansas bankers cannot hope to be
and cannot look for financial condi-
tions to return to a pre-war and nor
NAL basis until the federal govern
ment stops interfering with indepen-
dent business. II the sale of the fed
eral certificate plan continues I'M
will become a perpetual institution,
rather than a wartime and after-war
measure. Such a system will in time
mean the breaking down of agriculture
along with the breaking down of many
banks.
During the past five months. more
than $50,000,0O0 in credit has left
Kansas and gone into the federal
treasury. Kansas farmers cannot ex-
pect to pull out of the present finan-
c2al crisis If this process continues.
Kansas laws make 1t impossible for
the banks to take full advantage of
the War Finance corporation loans,
which results in less money coming
than would If the state laws permitted
such procedure.
Was War-Time Measure.
During the war, Kansas bankers
gladly gave their assistance to the
goverrm ent in the sale of bonds and
certificates as a war measure and
means of carrying on the war, but now
that the war is over, it seems reason
able to believe that such meth ods
should be suspended. 1t is claimod
that the certificates are more secure
than state savings bank certificates,
because they return a greater rate of
interest and are nontaxable, but the
federal certificates are sold under
terms that no institution other than
the government can expect to meet"
The statement was issued after con- |
ference with prominent Topeka MEM |
bers of the State Bankers association |
and after communicating with other |
leaders of the organization over the |
state. Officers of the association said |
it is probable that the campaign will /
be carried to the polls this fall. by |
demanding that candidates for office |
use their influence in bringing about |
of the present federal GER |
tificate system. Similar campaigns |
are being planned in other states, as
ISOLATION officers stated.