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Show j j HUGE INTEREST CHARGED, CLAIM WASHINGTON. August 2. Interest of 87 l- per rent was charged a smal Alabama bank by the Atlanta, federal reserve bank ln 1920, Senator Heriin Democrat. Alabama denared ln the (senate today ln a speech protesting I aaulnst reuppolntmcn' d Uovemo! Harding of the udcral reserve board Senator Smoot, Republican, Utah said he could not nndertsand how 'Senator Heflin'S Ma'emrnt could lM true, or how a bank could pay such l.ir. Interest nd survive, benator Hef-jlln Hef-jlln insisting he had documents i'j pro'oo bin statement! said the Alabmis bank barely managed to live, but thai its business and customers were do-i do-i stroyed. The Alabama senator charged that deflation eost Alabama Interests from j ? 5ou.000.n00 to $700,000,000 Ho add-j add-j ed that he lavored retaining anil Im-Ji.rovlng Im-Ji.rovlng the system. Only those prof I itinit ln the deflation, said Sen. .lot Heflln, now desired the renomlnntlor I of V y. ij. Harding as Governor ol the federal reserv board. |