davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-03-13
LOANS AVAILABLE
TO CLOSED BANKS
Liquidating Agent Must Have
Power to Pledge Assets,
Says Dawes.
BY the Associated Press

By the Associated Press.
The Reconstruction Finance CORPORA
ton yesterday announced itself ready
and willing" to make loans for distri-
button among depositors of closed State
banks wherever the liquidating agent
has the legal authority to pledge as
sets as security.
Charles G. Dawes, president of the
corporation, made the statement in re-
plying to a letter from Senator Brook
hart Republican,. Iowa, asking the
prospects for loans to such institutions
in his State.
Under the Reconstruction Finance
Corporation act, s2oo,o0O,O0O was set
aside for loans to closed banks. The
Dawes letter indicated that the corpo-
ration is not only prepared to receive
applications, but is eager to provide
this form of relief as promptly as pos
sible.
Senator Brookhart was advised to
urge the banking commissioner of his
State to apply, the Iowa attorney gen.
eral having ruled the pledging of as
sets by him Is legal.
The Dawes letter said: This Office
has been notified by the State banking
commissioner of your good State that
according to the opinion Of the attor-
ney general he can, in his capacity,
borrow from this corporation by the
pledge of assets for the purpose of dis
tributing dividends to depositors of
closed banks. This authority, however,
is subject to the approval of the court
having Jurisdiction
This corporation is ready and will
ing to recognize applications from liqui-
dating agents of all closed State banks
where the lquidating agent has the
legal authority to pledge assets in order
to borrow money. 1t would seem ad-
viSable that since the attorney general
of the State of Iowa is of the opinion
that your State banking commissioner
can legally qualify, that every effort
should be made to encourage him to
make application to this corporation for
loans, the proceeds of which would
benefit the depositors Of the closed
State banks"
Eiyfu-fva y1rieo,,are -.
Evening star., 1932-03-13
Man, Late at Bank
With $4,000, Loses 1t
On Downtown Street

Two 81 900 bills and other bills,
aggregating in all $4,000, were
lost in the downtown section yes
terday by William E. Swain. 400
block of G street northeast, he
reported to police last night.
Swain said he lost an envelope
containing the money either on
Fifth street between G and H
streets or on H street between
Fifth and Seventh streets. In
addition to the 81 900 bills there
were several $100 bills and other
money in various denominations,
according to the report.
Police said Swain told them he
HAD drawn the money from a
bank some months ago and was
preparing to redeposit it yester-
day. He arrived at the bank too
late to make the deposit. it was
said, and some time afterward
discovered the money had been
lns1 from his person.
Evening star., 1932-03-13
SLED AND AUTO COLLIDE
Boy, 12, Slightly Hurt While

Boy, 12, Slightly Hurt While
Coasting; Crash Injuries 7-year-old.
John Melvin Delawter, II, of the
5000 block of Eleventh street, was
bruised and cut about the head yes
terday when his sled crashed into an
automobile while he was coasting on
Quebec place between Twelfth and Thir-
teenth streets. He was treated at
Garfield Hospital and later returned
home.
Buddy Jones, 7-year-old son of Maj.
Albert NJ. Jones. 900 block of Della
field place, was injured slightly yester-
day when the automobile operated by
his father collided with another ma
chine at Seventh and Mann streets
Evening star., 1932-03-13

Additional letters in the Anti
boarding Contest received BY The
Star before O'Clock last night
mil be published tomorrow. The
1CtnnerS tDiI be announced this
Deek.
Evening star., 1932-03-13

n RIzEs in The Stars anti-hoard,
ing letter contest will be awarded
some time this week.
Judges have taken over the
pile of letters and will carefully
give their attention to the award of
SlOO in gold for first prize, $50 in gold
for second prize and $25 in gold for
third prize.
Owing to the large number of let
ters received during the week, 1t will
take the judges some time to come to
their decision, and no definite time has
been fixed for them to render their
decision.
More letters continued to pour into
the -Hoarding Editor late yester-
day up to the closing time of 6 o'clock.
As a matter of fact so many arrived
yesterday that it is impossible to print
them all
These last letters however continue
to disclose further financial adven-
lures of Washington people in a man
ner which has attracted wide atten-
ton. Publication of the letters them
selves from day to day has attracted
many readers. who have been inter-
ested and entertained and-no doubt
many have been convinced to put
idle dollars to work.
The contest letters are considered
valuable part of the campaign here in
Washington and have brought out
some of the most interesting and hu-
man sidelights of the week. They have
been good reading
Among these letters today are many
more financial adventures from people
with widely differing ideas, but with
one general idea-to put idle dollars
to work.
The letters speak eloquently for
themselves. Here they are:
II was a hoarder-' penny wise
and a pound foolish'-wise enough
to save but foolish enough to be
miser
Anti ti-hoarding headlines in
newspaper opened my eyes.
studied the situation earnestly and
found that through boarding 1 was
actually depriving other people of
jobs and life's necessities, that I
was adding to the general economic
illness of the country. that I was
being disloyal, unpatriotic and near
sighted and that was even depriv-
ing myself of interest on my own
savings
"I changed my tactics. Through
the mediums of buying and investing
returned my money to circulation.
I have recovered from the attack
of miserlineSs brought on by wild
fear"
Evening star., 1932-03-13
Changed Friends Ideas.

During the earlier stages of the
present depression, drought and gen.
eral money shortage, l occupied a
desk in an Office in one Of our South
ern States and during this employ
ment it was my extreme pleasure to
become acquainted with a fellow
worker, who later became one of my
very close friends. His working days
had commenced when l was hardly
out of the kindergarten and when
our friendship had reached a point
of semi-conhdential stages. it be-
came his pleasure to inform me of
the evils, presumably, connected
with legitimate money deposits and
that it was his policy. as safe in
surance, to place dollars out of cir
culation, which is more commonly
brought to our attention at this time
through the medium of the news
papers, radio. etc, as boarding.
II very often stated that hoard
ing was not considered by me a pol
icy that would promote good judg-
ment. for as 1t appeared to my way
OF thinking, 1t was procedure that
If consistently followed would tempt
misership and instead of helping to
alleviate conditions would only pro-
long the recovery Of a nations well
fare.
Through influential friendship,
and to his knowledge of my personal
expenditures for necessities and some
luxuries, was able to place before
him new outlook relative to money
boarding and 1t is my pleasure TO
state that $hrough this contact he
Evening star., 1932-03-13
Film to Be Shown in Church.

1.-The Sacred Love Story Of the Mass"
an all-color picture drama, will be pre-
sented at st. Aloysius Church, North
Capitol and 1 streets, tonight at 8
O'Clock. The film will be shown under
the sponsorship of Father George A.
Keith, S. J.
Evening star., 1932-03-13
Sees Duty as Citizen.

"Hoarding is nothing more than a
fear which has entered the hearts
of>our fellow citizens caused by bank
failures, small wages and unem-
pioyment
-aBut why Is this? It is because
we are not wise-not even good to
ourselves. II we analyze boarding
1t really amounts to the encourage
Evening star., 1932-03-13


tributinR to different charitable ac-
tiyities is that providing work to
the needy is to give them self re-
spect. happiness, comfort. The
towards. The country despises
them"
Commerce Stimulated.
Money released In any one cnan-
mel stimulates commerce IN so many
others that simple intelligence Tor
bade my boarding money which was
urgently needed.
"On good security, at legal inter
est, l lent 1000 to young Du4ioel'
whose pay roll on contract WORK eA-
ceeded his immediate capital Loan
companies payments on stages oI
construction were often too late for
actual necessary outlay. With my
loan he was enabled TO handle his
home building orders, employ Varl-
Gus kinds of labor in numbers, puy
materials which helped many indus
tries and himself support a family,
who in turn spent money which
benefited still other industries.
Pleads for UnselfiShness.
ITO hoard money these times Is
unpatriotic; idle dollars make loIe
men. There is other boarding.
the boarding of jobs. Any family
wherein both the husband and VIE
are working-yes, even the chlloen-
while in other families none work.
If We could only invent some sys-
tenn that would curb the selflshness
Of individuals it would be wonderful.
'As long as we cannot reason
with the hoarderS, why not the Dig
stick? What We cannot do as yet
by education, try legislation.
Il find in my travels looking for
work that I must compete with
Government workers who have al
ready earned a days pay and natu-
rally can afford to work cheaper than
I. who have no work. l find them
working after their regular days
work as walters, BARRIERS, taxi driv-
ers and other occupations in compe-
tition with an already overcrowded
labor market.
Il have noticed by The Star paper
that the Committee on Approprla-
tions has asked the District depart
ment heads to supply list OF Dis
trict employees that are engaged In
outside work. If the committee goes
a step further and asks the heads OF
Government departments to supply
such a list, it might answer the rea-
son of some of the depression now
existing in Washington.
'Or maybe, due to the greediness
of landlords (who refuse to reduce
rents), it might be necessary for
people to hoard jobs. Rents in
Washington are too high. gov
ernmental inquiry into this question
might uncover some interesting fig
ures But we do not vote. What do
the powers care about us? A citizen
in Squenduskiville with a vote Is
listened to. Are we?"
Evening star., 1932-03-13
Despises Modern "Shirkers.n

During the Big War there was a
despised group we called 'shirkers,
and when the armistice was signed
the war was over for all except the
'shirkers,' but for them even their
grandchildren were despised because
they did not bear their share of the
load.
MY neighbor Julia said. 1T was
my money, had the right to put it
in my strong box; I have the right TO
DO what want to with my very
own
You have no right to do with or
about anything If it prevents any one
else from doing as they please
How did we win the war? We
made a game Of it, we found a new
thing to do every day But we took
care Of ourselves, and fed the world
besides. Wants were put in the
strong box and boarded, and only
needs were allowed to function.
Every day we found something that
we could do toward victory. We
drove whip hand and top speed on
the level, but it was uphill most Of
the way. We won; nothing else
mattered.
IF We generate the war spirit, get
rid Of the shirkers and hoarders: we
shall win and conquer depression,
thumbs down."
Evening star., 1932-03-13
Builds Needed Home.

ct stopped boarding because I
needed house I built it and gave
work to bricklayers, carpenters,
plumbers-the whole army of me-
chanics required to make q house
grow.
The house finished, there were
other opportunities for spending
money wisely. For instance, I
bought cement filler and paint for
the cellar floor; built swinging
shelves, book shelves and cabinets
and planted trees. For this work
I needed help, so applied to the D.
c. Committee on Employment. That
organization is efficient and depend
able, unselfishly interested in the
unemployed. Try them! They will
help you spend that boarded money,
charitably."
Evening star., 1932-03-13
Realizes His Mistake.

Il am holding a temporary posi-
ton which will terminate in a few
months. had been boarding my
money thinking that 1 was increas-
ing my security. Since the anti
boarding campaign has been
launched realize that in seeking to
promote my security I was really
undermining it, and so it is with
other thousands in my position.
When this hidden money is returned
to business there will be plenty of
jobs, therefore face the future with
confidence. America will win the
war against boarding as it has won
Its other wars"
Evening star., 1932-03-13
Finds Joy in Helping.

II have been very interested in
this anti-boarding movement start
ed by the President. I am Wash
ingtonian, but have friends in the
country places where I often visit,
so can get close perspective of the
needs caused by this depression.
think the greater number of the
people living in our blessed city do
not realize the actual need of some
country places and how even few
dollars will help. I had no money
myself. living. as you might say,
from hand to mouth but The Star
got under my skin. I went to the
stocking where generally kept a
hundred dollars for hard times, put
it in my pocket and went out among
the sticks Blood is thicker than
water. I went to my own folks first.
I got to No l. The interest was
due on the mortgage on his home.
He had plenty Of produce to sell, but
nobody had the money TO buy. After
a while I located a farmer with
horses, cows and hogs to feed, but
no money to buy corn for them.
Well, to make long story short,
lent my money to No. 2 on condi-
tions that he buy his corn from No.
/; the stock have been fed, the
interest has been paid and I have
a warm feeling around my heart
and my stocking is as empty as a
last wears bird nest"
Evening star., 1932-03-13
Says "HOarder Is Stacker"

Since I have heard Of so much
misery among human beings I have
ceased to do for myself all that I
can have done by some one else. My
money being idle, I lent to a friend,
having had unexpected expenses,
the necessary amount to meet his
obligations. I bought things which I
would have needed later In life and
Evening star., 1932-03-13
Makes Money Work.

my policy during this period of
depression has been to spend more
lavishly than ever before. When I
learned that the Government in
tended to take my property for con-
struction purposes, I went to see my
banker, raised loan and together
with the money withdrawn from my
savings account, purchased an
other home
Although this house was in good
condition 1 decided to make i'm
provements upon it while men
needed work. Accordingly, I built
a new addition of two beautiful
sun rooms, put in three lovely tiled
baths and did other work to total
amount Of $4,000. To pay for this
reconstruction program mortgaged
my original property and paid of
the loan secured from the bank.
Thus I have endeavored to
spend money in such a way as to
benefit myself and give employment
to others. AS for hoarding-it is a
practice unknown to me. My motto
is Money Makes Money but this is
true only when the money is draw
ing interest in a sound bank or in
vested in sound securities, not when
it is lying idle in safety deposit
box or hidden in obscure places"
Evening star., 1932-03-13
Praises Historic Step.

Il should like to project myself
into that hoped-for time on the
other side Of This great depression
and zee this anti-hoarding week
standing cut as the last dramatic
step In the series of courageous eff
forts made by this country to under
stand and to correct the seemingly
Evening star., 1932-03-13

Sixty-five prisoners are serving COM
muted death sentences in English pris-
onS
Evening star., 1932-03-13
Investment Brings Profit.

Approximately $4,000 'Salted
away was brought to life to finance
new home. This acorn grew a
tree of $500, stimulating banking,
furnishing employment to 40 build
ing mechanics and a market for
building materials from Is jobbers.
The project also meant increased
business for gas, electric and tele-
phone utilities, for furniture, home
furnishings and appliance stores,
etc.
The decision to expend this
money was based on common sense;
1t was good investment, both from
the utilitarian viewpoint of home
owner and calculating eye of in
vestor.
IF the $4,000 were still in hoard
lngs Shroud its only dividend would
be green mould"
Evening star., 1932-03-13
Stresses Patriotic Aim.

Toward the downfall of hoard
ing, l have persuaded my club to
shop with gusto, knowing that we
are creating jobs Americans that
we are, we have gotten the natural
tone back into our nodded dollars
not because we are rebuilding
country We are molding a cit
izenry. Nothing could be better.
Why patriotically chant the anthem
while a million children starve?
Take our dollarsl Is it prosperity
and welfare you seek? Our senses
have awakenedl We aren't hoard
ers We are Americans stopping the
destruction of our land. Now, that
we know the inevitable, we can't
dare think hesitating to spend!"
Evening star., 1932-03-13
Brings S100 to Light.

We'll, here's the story of the
boarded dollars coming to light.
I listened to President Hoover's
radio plea the other night.
Said to myself, That doesn't
apply to me. I'M not boarding
stay, but am 1? What about
that tin box into which I have
been dropping small amounts-one
dollar, two dollars,-over a period
Of years? Bridge winnings, per-
haps, prizes, surplus pennies. How
much Is there? I haven't looked in
years.
"A hundred dollars Another
hundred put to that will buy the
diamond wrist watch have
wanted.
The box is empty now and I
have the watch"
Evening star., 1932-03-13
Stores Up Commodities.

This period of depression and
hardship has hovered over us, and
has been the current topic for the
last two years
After much study of economic
principles, I have been convinced,
that boarding money is step
toward the undermining of the
strongest Government that has ever
existed.
Il am now purchasing various
commodities which will meet my
needs for several years to come, as I
feel that at the present standard of
prices any necessity is a good in
vestment.
II realize that if we continue to
hoard, the boarded money will be OF
little use to us unless action is taken
to stabilize the condition Of our
country.
This move as sponsored by The
Star to discourage hoarders is one of
patriotism and this being the year
that marks the 200th anniversary Of
the birth of the Great Patriot, The
Father Of Our Country" 1t behooves
us to strive to acquire some of the
patriotic fervor that characterized
his noble aspirations"
Evening star., 1932-03-13

nv object In doing so, beside con-
tributing to different charitable ac-
tiyities is that providing work to
the needy is to give them self re-
spect, happiness, comfort. The
hoarder and the Stacker are both
towards. The country despises
them
Evening star., 1932-03-13

hopeless tangle Of wrong conditions.
'The cessation of boarding has
two-fold power: Its practical effect
is, of course, to bring the essential
dollars back into use all along the
ine-into small business, into large
business, into the banks which stand
behind business. Its emotional ef-
feet should be to substitute ACTION
and hopefulnesS for the sense of
powerleSsnesS and fear, in the minds
of some hundreds of thousands of
individuals who put their money
away, narrowed their lives, and
waited. in the spirit of one who
says. Hold Everything
Just as the sum total of money
withdrawn tended to hold all busi-
ness at a standstill, just SO the re-
turn Of these many small amounts,
making a huge total, can start the
ball rolling again. This reaches in
dividuals who say to themselves,
These baby bonds-of course they
are safe. These banks-we can trust
them now with the Reconstruction
Corporation behind them. Rather a
comforting thought, to enlarge our
lives a bit, spend more, and at the
same time help to end this night
mare. Let's do our share!
viii power and the drama are
here. May they work out to the re-
suit we hope for"
Puts Savings to Work.
wife and 7 have no children.
Both have steady work and save
consistently.
Last year We withdrew our saw
ings and joined the hoarders pro-
ceSsion.
Then came the depression.
I'VE saw worthy people iobless,
hungry, discouraged.
I'VE considered our duty as cit
izens. Took bright but hungry,
anaemic boy to feed, clothe and edu-
cate. Further: Selected three in
telligent unemployed men and sub
mitted proposition:
Using savings we will establish,
maintain and manage business. You
pledge honest, efficient labor.
Proposition accepted-business
established.
Result: Eight thousand dollars
in circulation; a citizen in making;
three families happy; business sue
ceeding"
Evening star., 1932-03-13
Spending Is Contagious.

When mass psychology becomes
animated by fear, the boarding in
stinct is a natural and contagious
reaction. Dispel fear and the normal
instinct to spend revives, and is
equally contagious. Every one should
spread this contagion and spend
profitably to himself and society.
Il chose to release my savings by
having living room furniture re-
paired and re-upholstered. The up
holsterer thereby managed to make
payment to save his home. saved
my money, too, really, because its
full value is in my home, have even
earned future interest on the prin-
cipal as further neglect would have
necessitated greater repair, at greater
cost"
Evening star., 1932-03-13
Challenges City Folk.

THE depression we hear SO
much about Is due to fear and
boarding, consequently something
must be done to remedy this evil.
/ believe this campaign will do
much to break 1t up. Keep at them
until every galoot with hidden
dollar will be ashamed to be seen
among right thinking folks.
What am doing in the cause?
Say listen, while have no boarded
cash to turn loose, nevertheless I
feel I'm called upon to get into this
movement, SO I'm using my credit
planting crops that will in a few
months employ dozens of workers.
There are many Of us market gar
deners who have been hit heavy by
the depression, but We are more or
less used to these setbacks-seldom
ever having gotten our just dues.
Knowing these things, by the most
painful economy we manage to SO
keep on the good side Of the seed
and fertilizer dealers that we are
enabled to fight on from year to
year afeeding you CITY, -hoarders
with about the only compensation,
hopes twill be no worse.
Now II the city folks will make
as free use Of their boarded dollars
as we tillers of the soil make Of
our credit. I feel confident times
will be better for all Of us.
Come on you hoarders and pull
togetherp
Evening star., 1932-03-13
Cashed Souvenir Check.

After the armistice, Uncle Sam
gave me check to cover transpor-
tation from an Army camp to my
home
Il kept this as souvenir
When the present anti-hoarding
campaign began, 1 cashed this an
cient check. With it, gave work
to three unemployed. All had fami-
lies. Upon inquiry, found that I
had directly benefited IL persons.
The money, back in circulation, will
keep on doing good
Instead of having a souvenir OF
the World War. I have a souvenir
of the war against want-the salts
faction Of helping others in time of
need"
Evening star., 1932-03-13
Co-operates to Limit.

II am putting my money back
into banks and bonds because the
President tells us to do so, because
the newspapers tell us to do so.
And promise us a certain degree
of security If we do.
1T is upon this promise we are
buying baby bonds of our govern
ment with money which we have
been boarding in our safety de-
posit box.
Il have subscribed to my favor
ite newspaper, had my automobile
entirely reconditioned, restocked our
pantry shelves with groceries and
provisions employed a man to clean
and spade up the front lawn, we
have bought some new clothes, and
gotten a set Of new tubes for our
radio.
There is hardly a store in our
neighborhood from which some
member of my fa:--ily has not pur-
cha-cd something this week.
What more should I do to be
an anti-hoarder?"