| Show I Did id You Ever Stop To Think I Edson R n. Waite Walte J J. J Lonberger Lionberger Davis Chairman of the Board of the Security National flank Dank of St St. Louis says THAT the present credit situation which I. I Is being discussed this country and the rest of the world Is 15 puzzling because the fundamental fundament III principles are not kept In mind More It Is only a symbol People really really really real real- ly borrow things thing If one borrows a athine athing tying thing which he u uses s productively and arul profitably the use uS of credit Is mete mate if however one ore borrows borrow a athing thing which he can v t or does docs not u uta productively and pr credit Is 13 Most Moat of the present credit stringency gency lency ency and high rates of Interest are due fue to the hope of speculators ora that they can borrow securities and sell seU them later at a p pont which will be sufficient to pay high carrying charts and Il leave ve to the borrower riches which h he has not earned Tulip speculators in Holland commodity commodity commodity com com- speculators in 1 1920 2 gamblers f f. f fn t F lanes lane's during s the boom tw two o- o othree three years ago all suffered from tie tame came delusion We are told by hopeful security salesmen that we In are living a new era frn but whether we are or not laws of gravity and of supply and demand still un tl operate In the long run wealth is fa created and riches are received by those who produce what society needs and wants ft is only by work that wealth is produced produced produced pro pro- and one can ean consume only what he produces unless he Is a parasite or a lucky gambler America often offers limitless opp ties for those who are willing to use their brain and brawn brawn- brawn brawn-a a faithful servant servant ser ser- vant will be rewarded but a II gambler usually rides even en credit wales wates for a fall |
