OCR Text |
Show NOTICE TO THE STATE AM ANDBANKERS In my address before Bankers' Convention, June IS, 1921, I made the following statement: "The time has come when the loads on our financial crafts should be lightened, not indiscriminately, but hystematically, the ballast going first, then other things in order of value." At this time I hoped for favorable markets for live stock, grain and other products. The summer has past and finds the banks still in a greatly over extended condition. I have been, and am still very much concerned over the general outcome. One agency through which material mater-ial relief could be obtained is within our reach, viz: The War Finance Corporation Cor-poration operating through the Bankers Bank-ers Loan company of this city. I have studied their plan of operation, consider con-sider it feasible and urge the banks to avail themselves of this emergency emergen-cy assistance. I wish to encourage the breeding, and feeding o f livestock. Criticisms will not be made upon loans made for the purposes, provided such loans are kept in a liquid condition; in other words are not permitted to be-; come stale. It has come to me that a number of the officials of the State banks are very indifferent to the War Finance Corporation plan of assistance. assis-tance. I realize that the preparation ,of applications, the making of notes, qtc connected with this plan entails con- . siderable labor. I believe, however, the good accruing to the individual, bank justifies the effort. The State' Banking department is squarely behind be-hind this movement and urges the banks to lend their unstinted support to the one present available source of relief. May we enlise your service in putting put-ting this plan over? Yours very truly, SETH PIXTON State Bank Commissioner. |