Pocahontas star herald., 1926-02-25
Wood Rainwater Again


water Bank at Morrilton, has sent out
the following letter to his fellow bank
ers over the state, II may be read
with profit by every person over five
years of age in Arkansas.
Mr.. Rainwater has said that his
business is to make money, for both
himself and his customers. Here is
his idea as to how ii may be done:
Morrilton, Ark. Feb. 1926.
Dear Folks:
It's so silly and useless to write a
page or so hoping by some harsh or
pleasant words to change your system
of living and finance. In my idiotic
way know it's very foolish. Every
fellow has hobby Mine has been to
take some deserving fellow that has
the STUFF in him ard try to build
him up notwithstanding. l have
had lot of selfish pleasure seeing
my men really amount to something
financially but at this point they quit
farming buy a car, move to town,
leave the state, go into the store busi-
ness or die. The successful farmer
cannot stand prosperity, and stick to
the farm, it seems.
About 1900 delegates bankers,
Farmers, Merchants) met in Memphis
last week, after telling troubles, prices
of cotton and outlook for 1926, deter
mined to reduce the cotton acreage 25
per cent all over the south The pros
poets for 1926 cotton prices are
ALARMING. Another sixteen million
crop will not be worth as many dol
lars as ten million crop. 1t would not
be worth picking and ginning
If you don't reduce your acreage,
also your cotton production you are
REAL enemy to your neighbor also
your state and the south. If you don't
raise your corn and hay and food, it's
not my duty to say it, but you are not
a desirable neighbor or citizen. We
all have a duty to perform as a citizen
and neighbor. The food and feeding
situation is REALLY alarming. The
big cotton crop next season is MORE
than alarming because IL will absolute
ly bankrupt everything and everybody
in the cotton states. There is no argu-
ment. If we raise plenty of corn, hay
and food, our cotton will be cut %
per cent The price will be profitable.
Don't kid yourself thinking Texas will
reduce the acreage and we won't.
heard big Arkansas credit merchant
say the other night in Little Rock at
a meeting, that half the farmers in
his section would have to quit farming
because they had no corn or meat
and no one was able to furnish them.
| There is not enough money in Ar
kansas to furnish corn, meat and hay
and pay for gasoline and taxes. (Gas
and taxes are cash).
We have a hard boiled Bank Com
missioner in Little Rock, Laid Rain
water. He is sworn TO safeguard de-
positor's money in Arkansas State
banks. If you we're running a bank
and had plenty of money would you
buy corn, expecting your money back
out of next falls cotton crop, when
you know 1t will cost 20c pound TO
raise, pick and gin it, or would you
loan 1t on cotton that's already here,
at $4,000 bale?
banker that loans money on a
friendship basis or on corn or grub
basis to make the next crop or cotton
has only few years to keep his doors
open. A bank can't exist If its Gus
toners are not prospering. The bank
money is to loan on improvement,
PERMANENT Investments, NOT on a
CROP GAMBLE. It's better that any
banker shoot heads and tails with all
the banks money either win or go to
the penitentiary. than TO hold his job
, and go down every year trying TO feed
the farmers and his stock.
/. Fifty per cent of farmers and town
people are spending more than they
make. There is a hundred NEW ways
to spend money. There is no NEW
way to make it. What win be the
outcome? Who's going to pay the bill ?
} Who's going to stake you while you
TRY to reform your expense account
Everybody will HAVE TO arrange their
finances with THEIR OWN energy
and savings. The PROSPECT Of wait
ing till some sucker OPENS UP credit
business is OVER. We live in a land
of plenty but the Creator hands out
only sunshine, rain, and the seasons
free. He gave us too much rain this
fall. He may have been in Florida
and forgot us, or maybe the Lord was
disguised with our HARD LUCK
stories he's listened TO for forty years.
I'm telling you the OLD, OLD story.
You are not interested. some fellows
don't think of the hereafter till the
doctor says you have, maybe three
hours to live. WHY all this CHEAP
advice? Axes to grind? Yes, your AK,
mine, Arkansas, the entire South, all
of us have the SAME ak. Crop mort
gage and debt has brought us down to
this end Of the row. l can see only
one way out, half my customers go to
Missouri to raise corn and meat free
for the Arkansas customers that are
raising cotton. Which of you will
volunteer to go to Missouri? Debt is
the curse of the day. Let's get out
of debt and stay out. I'm out of debt
and I'm not going broke or in debt
furnishing corn, meat or gas. Would
you?
We try TO assist customers If they
have the PROPER security. A Gus
toner is a man who deposits his sur
plus money with us. II he has no
deposit, he's not n customer.