The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-10-02

Washington, D. c. American
bankers refuse to see America
first. In fact they refuse to see it
at ALL Not even will they gaze at
It when so high an official as the
president of the United States
points it out to them and urges
them to do something.
This is the sensational news that
has finally leaked from the con-
ference held some days ago be-
tween President Hoover and heads
Of the largest Wall Street banks.
President Hoover was conten-
plating the formation of a pool by
the great banking interests of the
country to give assistance to weak
banks when they were forced to
cease operations because of froz-
en- assets.
1t was planned by the president
that the pool would take over as
sets Of such banks and furnish
them with cash, and hold the Sc
curities until they could be sold al
somewhere near what they were
once supposed to be worth.
This was a suggestion to the
bankers for seeing America first
They couldn't see it at all. They
told the president their eyes were
50 riveted on the huge loans they
had made to Europe that the!
couldn't be bothered with giv;nl
any aid to American banks and s,
the depositorS unfortunate enough
70 have their money in tOtterini
financial institutions.
Then the leading bankers O
Wall street, the bankers who hav
led the campaign for wage reduC
IONS, are reported to have polite
y put this gun at the head of tn
PRESIDENT. If he would guarante
nat war debts were either wipe
out or greatly reduced and the on
year moratorium on payments c
meSe war loans extended to frol
uTee to five year there might /
nope of these bankers of collec
ING their loans abroad.
Z They did not think that &C.
many would be any more able
pay a year from today than at tt
present time.
Il the president would ord,
s @S mere trifle of cancelling son
ounOns of dollars worth of go
smment loans abroad and letti1
se people Of the U. S. A. shot
yer the burden then they thong
mere might be a possibility tn
S'y could find money for t
NOl to aid weak banks suggest
" the president.
mower is reported to have tur
" DOWN the terms of the ban
~ 1Or the present as he thin
! would be giving up a club
: reported to be going to atten
T. use to force other nations il
Ds at the armament conference
h.. Students Of international affa
Ea e are convinced that WI
t nUever put into effect the mo,
IN mum sa,! OF year he took what v
II. 'eanty the first step tows
v cancellation of war debts.
I.. When this goes through
S0 ulng Wall Street bankers hi
osss.5W Will get back their MOI
stto eu TO European nations in
s6s,;pV TO stem the tide of
U Sit.3m :, and the people of
~ states will hold the sac
Un %iteanw y, if those banks of
so5 ed States that have been we
an Ca can withstand the deoress
o., well and good for the demo
as a.. Il they can't-weil in SO
srs We leading Wall Street bank
bad ff Os s4 it will be just
Ps aGr the depositors.
nm S5Jlnaps if they could hear
noV;e OF unrest and disconi
N"ing ever 1ouJo,. - -
no i gtt the nation and E,
might co,, TINS capitol city t
Nsab;l;stOclm commence to realize the
Or i IN 10y Of seeing America f
70 Atm S,1er words doing sometl
Ions t ~ employment to The the :
from u III Americans in the
sQues,w.55 which h these bankers s,rs !
loaned ah the billions they j