Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-02

I
business proposition. That was
what he was looking for. One large
downtown bank hal told him the day
| before that if a man was absolutely
| down and out, in desperate straits,
| the bank would try hard to lend him
| $50 on u certificate. But the policy
was to loan only to regular customers
in good standing. The eX-marine had
some pride and his spirit rebelled at
even a kindly halfway offer of
charity.
Long, Long Trail
! He would have liked TO have been
| able to wait, If he could, but his
| immediate needs were pressing. So
| blithely he found himself humming,
TITS q Long, Long Trail A.winding,"
| as he once more advanced toward
Washington's financial district. With
| out ducking, he walked straight into
| six clean upper-cuts delivered at as
| many successive banks. The gong
! sounded. lone, two, three"--for the
knock out. 1t was o'clock on New
Year eve and the banks had closed
| for the day.
What price bonus, anyway" he
| muttered.
Homeward he made his way, sad
! der but wiser man.
1t all happened, these two days of
| fretful worry, at the most joyous sea
son of the year, because the reporter
| had wondered what might happen to
some former shipmate, up against 1t
| perhaps, who might seek loan on his
| bonus certificate after January /.
Imbued with this feeling, the ex-
| Marine started forth to ask what he
| believed he had a perfect right to ask
| "a loan of $50 on a Governmentin-
| dorsed security. The streets were
crowded with busy people as he made
| his way into the heart Of Washing
toms little Wall Street. Christmas
had left people happy and tomorrow
| was New Year eve. His spirits were
| hopeful.
Passing through the door of large
bank which radiated Christmas cheer.
| he took heart as he walked behind
one of the ratings and approached a
stolid desk.
Cut on Short.
After January /. adjusted service
certificates are eligible for loans"
the veteran began. He got no
| farther.
mo, sir, not at this bank" an en-
phatic voice interrupted. The apph-
cant felt dazed.
Not even for regular customers"
| he asked.
Not for anybody" he heard the
voice saying. Then the banker went
on to explain. The certificates were
no good as collateral, the banks can't
easily sell or dispose of them.
Congress has put SO many re-
strictions around them that their
surrender value Is nearly worthless"
| he added. 1.-THE banks don't want
| them"
The ex-Marine bowed his way out.
| He wasn't resentful. He understood
the banks attitude. After all, bust
| ness is business and banks, like other
| commercial houses, are in the busi-
ness for a worthwhile profit. HIS ex-
| periences along the line strengthened
| this view. In quic4 succession he
was told that policy restricted loans
on certificates only to regular custom
| ers. Well, he thought. If he were
a regular bank customer, perhaps he
| wouldn't need a loan. At IL other
| we'll known Washington banks he met
| with the same answer. An ex-service
| man, Job or no job, could not borrow
| a cent on a bonus certificate unless he
| had bona-fide banking relations.
| At one OF these banks an official said
money was tight, but had offered him
some free advice But the advice
1
| introduction at bank, and the vet
eran couldn't take it.
Two Dominant Refrains.
RED tape" and Congress passing
| the buck to the banks" We're the two
refrains that fingered in his memory
as he sought new sources of possible
| revenue At another bank this buck
passing was brought forcibly to
mind.
| Congress passed this bonus bill as
a political sop to the banks, and the
banks are not going to stand for it"
| the official emphasized after turning
| down the applicant for loan. He
| added something about there not be-
| ing enough profit in it for the banks"
and t'too many burdens"
well, then, not being a customer,
| would you lend me $50 on a 500
| Liberty bond?" asked the veteran,
seeing further argument useless.
Yes, you bet will, any day" was
| the ready answer. Leaving the bank,
| the man asked himself why bonus
certificate, backed by the same gov
eminent, couldn't have been nearly as
acceptable.
Pats Him Regretfully.
The veteran was politely received
at still another bank, and he found
a considerate listener to his tale. AS
he departed, however, minus loan,
the official patted him regretfully on
the shoulder.
'Td like to help you if I could,
| brother; the heart and the spirit are
| in the right place"
II don't want help" the veteran
| replied. "All want Is business.
| like loan on a legitimate piece of
| security"
Here the ex-Marine learned some
thing about frozen assets
az don't believe that any more than
| per cent of the veterans would re-
paw such loans," this official, had sefd,
| land the banks would find themselves
with a lot of frozen assets on their
| hands,
No loans to any except customers,
was the infiexible policy.
At another bank a little earlier, the
veteran had waited for a customer to
extend New Year fluctuations to the
official behind the desk.
"I wouldn't say that this collateral
| was not any good" he heard the Of
fetal saying to him, "but 1t Is not sat
isfactory for the banks to handle. We
can only handle such loans to our
regular customers in accordance with
| instructions laid down by our COM
| m1IIe0. No uoA AAoW "HSA" IL
man in your position could borrow.
We could not even let you open an
account, merely to get loan on a
certificate"
1917 Is Recalled.
There were many other banks to be
| visited and as the veteran walked
from one to another he recalled for
the first time in many years an in
cident that occurred when the old
card Company was showing off from
Philadelphia early in June, 1917, to
Join troops of the list Division in
the first group of American COM