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Show LIBERTY L01 HEY GOMES Bffi( TO CITY- There is no cause whatever for feel-tlie feel-tlie rest of the country, is too solidly prosperous to suffer from tho flotation, big as it is. "I have heard a number of people express fear regarding . the Liberty loan, because of the large sum of money that it will take out of the city," said Mr. Bettilyo'n. "Their fears, in my opinion, are quite groundless. ground-less. "In the first place, even though the $6,240,000 which Salt Lake is required to furnish for this loan, were a complete com-plete loss which it isn't Salt Lake finance would not be vitally hurt There is now more than $60,000,000 in deposits in the banks of the city, ten times as much as is called for under this loan Salt Lake could float ten more loans as big as this one, before her financial condition would become gravely stringent. "But it is erroneous to look upon this money as lost to Salt Lake, oven so far as its availability for current use is concerned. The government, through purchases of war materials, such, for instance, as copper, and in soldier payrolls, such as we had last summer, and will have, without doubt, this summer, is spending in or near Salt Lake a great part of the money it is borrowing through Liberty bonds. And it must always be remembered that the bonds stav here the finest collateral col-lateral in the world in case of a shortage short-age of money. "The fact that there is such an immense im-mense sum of money on deposit in Salt Lake suggests an idea of great importance impor-tance to men who are putting it in the banks and yet who are not home owners. own-ers. The savings habit is excellent and should be encouraged, but in lnv opinion opin-ion there is something which ought to precede, namely, the home owning habit, lr.g apprehensive regarding the effect of the third Liberty loan on business conditions, in the opinion of V. A. Bet-tilyon, Bet-tilyon, president of Bettilyon Home Builders' company. Salt Lake, like "It is a good deal better for a man to own his own home than to have a savings account. For, when he pays rent he is paying interest at 8 per cent, or thereabouts, while his savings account ac-count brings him only 4 per cent. "My advice to the non-home owner is to buy a home at once, for instance, he can secure at Val Verde an acre where he will have not only a homi', but an acre of land on which to raise practically everything his table needs. Then when he has this anchor safelr planted, he should certainly begin saving." |