The Birmingham age-herald., 1923-10-29
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It would be highly offensive to many Americans should some one declare that Uncle Sam was daily beneficiary of usury, and at the expense, further, of a class which, while absolutely confident of the honesty of Uncle Sam, is not the best informed class among the classes of American citizen- ship.
 And yet Uncle Sam, in the opin- ion of some outstanding people, does indulge in usury, though it is not conventional usury, and might be termed "beneficent usury."
 There is on deposit with Uncle Sam's postmasters many millions of dollars.
 This money belongs as a rule to foreigners who are content with small profits in their busi- ness, and in caring for their dol lars look primarily to safety.
 They know Uncle Sam is safe, that if they lend their money to Uncle Sam they can get 1t when they want 1t. They are skeptical of banks, they are more skeptical of securities" They have In mind the preservation of their money against the time they feel tmpelled to yield to the urge that love of their native land inspires.
 They want to return home with sum which, while relatively small in the United States, would make them millionaires among their own people.
 Uncle Sam pays interest on such deposits. But it Is interest at rate smaller than would be paid by any savings bank in the United States. Uncle Sam feels Justified in his procedure because he in- stills a sense of thrift in his adopted children, and because he saves them. in many instances, no doubt, from the unscrupulous swindler.
 But congress is restless and re- peatedly undertakes to force Un- cle Sam to pay higher rate of interest. And congress, some of these days, will succeed. The rapid increase in the political power of the foreign element, es- pecially in certain congested cen ters, is destined to result in an action by congress which does moi. at this time, at least, appeal to the fiscal agents of the govern ment.
 There is always present the man crying out for help for the farm CT Of the country. He might be inspired by love of the farmer, or desire to make the farmer feel that the government owes him more than 1t owes anybody else or a determination to exercise tbe vote of the farmer for his own selfish interest.
 But he is always crying out for heIp for the farmer, irresnectiva or what his motive might be.
 There has recently come to Washington new suggestion passed on the fact that Uncle sam secures the millions of the for elsn element at @ ridiculously low rate of interest-that Is, in com parison with rates demanded in commercial business relations.
 Uncle Sam. according to this suggestion, should lend this money to farmers at a rate just enough In excess of that which he pays to meet the expenses of conduct- ing the business.
 But then why should Uncle Sam favor John Smith, farmer, and not William Jones, mechanic? Perhaps the farmer is hard pressed because of the Republican party's preference for "big busi- ness" But the mechanic might have sick wife and several starving children.
 And 1t is pointed out that the money Uncle Sam has is not the money of farmers, but of labor CTS, and that 1t would be rank discrimination to lend 1t to farm CTS rather than to the element which produces and places 1t on deposit.