Sugar House Bulletin | 1941-10-31 | Page 5 | No Fifth Columns

NO FIFTH COLUMNS Speaking of banking's vital role in nat-onal nat-onal defense, P. D. Houston of the American Hankers Association, said. "There are no fifth columns in the ranks of banking, i know that the country's charted banking system sys-tem has been far ahead of the procession in organizing for the national defense program.' It is a fact that no needed activity has been held back because of lack of credit. When the emergency began, the banks adopted adopt-ed a policy of using their resources to the limit in financing defense work. The policy has been continued without deviation. Loans big or little, are made without delay. The truth is that bank credit has not been used as much as it should be. Government Govern-ment itself is carrying on many financing activities which could be and should be handled hand-led by private financial institutions. Congress clear duty is to insist that private capital be used wheever available and that the taxpayers taxpay-ers money be used only when there is no other oth-er source of credit.