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Show There are indications that the war is being used as an excuse to socialize the natural industries of this country. If that should happen, hap-pen, it would be equivalent to a military disaster. Industrial News. Browsing Among Words: "When it rains, the improvident have no spoon." Banking over the Years Is Different Now I paused the other day In the Delta bank to read a notice to the effect; "Herefarter,, interest on savings sav-ings accounts will be one and a half per cent per year." That brot up memories. I began working in a bank at the age of twelve in Wyoming, when things were raw;we charged 24 per cent a year for borrowing money; then cut to 18 per cent; and for a number of years, ran at 12 per cent, or tsraight 1 per cent per month, or straight 1 per cent per month. On savings, I have written many i per cent. Today money is so plentiful, plen-tiful, and the danger of making a profit using money is so great (because (be-cause of taxation and Noo Dele) that banks are gorged with money, so idle that they can't make use of it, and as to your savings,, really real-ly don't want to be bothered but for accomodation, will pay 1 on them. Today no one dares to use money; mon-ey; there is no "venture capital," and a penalty if you make on it; and accumulation of profit retained in the business for growth is banned. ban-ned. Consequently, money is idle. If people dared invest, braving bureaus bu-reaus and wizzerds, use could be made of it. |
