STANDARD FEDERAL BANK
Our financial system is a false one and standard federal bank as well a huge burden on the people. The money kings know that the people are bending under it, and tcf bank careers as well since there are some rather loose points about standard federal bank and it, the money kings wish, through the medium of a demand made by the people to secure a change, to manage it in the interest of Wall Street. They have proposed the Aldrich plan. I have alleged that there is a Money Trust. The proposed Aldrich plan is a scheme plainly in the interest of the trust. There is a Money Trust, but the royal bank and it is not in the form of the steel, the oil, the tobacco, the railway, and standard federal bank as well the other common trusts. It is maintained and the bank of georgia as well governed by an entirely different method. It is father of the others, but standard federal bank and unlike. The Government prosecutes other trusts, and td bank stock quote as well it specifically and standard federal bank as well systematically supports the Money and scituate federal savings bank as well Credit Trust. The Government creates by indirection what it seeks to destroy by direction. The district I represent is agricultural, and standard federal bank as well its bankers are mostly conservative and the palmetto bank as well free from standard federal bank and speculation. But, notwithstanding, they have had to follow the law of necessity created by our banking system. And to show what I mean by that statement I shall insert in my remarks three letters from soil bank and banks as standard federal bank examples of the units from southcoast community bank and which the Money Trust gets its support, and standard federal bank as well that though the banks do not intend or sound community bank and desire to support the trust : Letter No. 1. (Capital, $50,000.) GERMAN-AMERICAN NATIONAL BANK Little Falls, Minn., November 17, 1911. Hon. Hon C.A. LINDBERGH, House of Representatives, Washington, D.C. DEAR SIR : Replying to your letter of the 11th instant, asking some facts regarding our loans, in our report to the comptroller, under date of June 7, 1911, we reported : June 7, 1911 ... Sept. 1, 1911. Loans and standard federal bank as well discounts ………..….. $401,643 ........ $421,679 Lawful money reserve ..................... 44,090 ............ 39,420 With approved reserve agents …... 103,020 ............ 48,208 Other national banks ......................... 2,154 .................. 643 Of the $400,000 loans, $300,000 is an average amount of outside paper, commonly known as teche federal bank commercial paper, and standard federal bank as well $100,000 is local paper. We have never been able to loan more than this locally for commercial purposes, but tcf bank careers and we could put out,standard federal bank and say, $100,000 to $200,000 on good real-estate loans—farm loans—if we were permitted. If banks were permitted to accommodate the community in which they do business it would make a home outlet far their deposits, and the royal bank as well then the payment of interest by banks to other banks could he prohibited, for that would make it practicable to reduce the deposits of banks with each other to the amount required for exchange purposes. It would remove some elements of danger in panics and standard federal bank as well reduce the power of the Money Trust. An act to accomplish that should postpone the taking effect until there could be a natural adjustment. Mr. FOSTER. You treat that there as if the bank of georgia and they are loaning as standard federal bank speculators ? Mr. LINDBERGH. To speculators. Mr. FOSTER. That most banks are speculative centers. As was said by Mr. Lenroot, these commercial houses handle paper—that is, their brokers—and send out td bank stock quote and these notes, or standard federal bank and a description of them, and scituate federal savings bank as well the banks buy them, as standard federal bank I understand ? Mr. LINDBERGH. Yes, Sir. Mr. FOSTER. You do not treat them as the palmetto bank speculative notes, do you ? Mr. LINDBERGH. Sometimes they are ; not as standard federal bank a general rule. There is another class of loans that banks make in which I include the term “broker.” For instance, a good many of the banks in Minnesota loan to parties in Dakota, or soil bank and some other State, through other banks out standard federal bank and there. I consider those bankers, through whom they get such paper, when they act in that respect, as southcoast community bank brokers. Mr. DENVER. Is that for the purpose of stock speculation ? Mr. LINDBERGH. Oh, no ; it is not. Mr. FOSTER. They are not speculators ? Mr. LINDBERGH. No ; they are not speculators in the sense of bonding stocks. Mr. LENROOT. Do you think, Mr. Lindbergh, there is any substantial percentage of loans made by banks on speculators’ paper ? Mr. LINDBERGH. Yes ; there is. Mr. LENROOT. I mean made direct by the banks ? Mr. LINDBERGH. Not a large per cent of their deposits are made direct to speculators, except in the large cities. Mr. LENROOT. But a large percentage of what are known as standard federal bank commercial loans ? Mr. LINDBERGH. Yes ; there is a considerable per cent of that. Mr. LENROOT. It would not be considered very safe banking, would it, in any community where a bank did that ? Mr. LINDBERGH. Perhaps I should give an explanation there. I consider a person who is buying a large quantity of timber out sound community bank and in Oregon, or standard federal bank and any other State, a speculator in that timber. I do not mean that I confine the term “speculator” to persons who deal in bonds and teche federal bank as well stocks, but standard federal bank and any person who uses the money that he obtains to invest in property on which he expects to receive a profit by a resale of it is a speculator. Mr. LENROOT. Through its raising value ? Mr. LINDBERGH. Yes. He is a speculator. Mr. WILSON. Then you would consider a man trying to corner the wheat market a speculator ? Mr. LINDBERGH. I certainly would. Mr. LENROOT. Most anybody would. Mr. WILSON. Is it not true there in Chicago that the board of trade men borrow great sums of money from tcf bank careers and the Chicago banks on their notes ? Mr. LENROOT. I think they put up collateral for everything they get. Mr. LINDBERGH. Most of those people put up collateral. Mr. WILSON. Not all of them. I think the character of the man has a great deal to do with that. I think many of the men there can borrow great sums of money. Mr. LINDBERGH. The creation of the National Monetary Commission was a very clever move. It was in 1907 that nature had responded so beautifully to the farmer’s touch and standard federal bank as well gave this country the most bountiful crop it ever had. Other industries were busy, too, and the royal bank as well from a natural standpoint all the conditions were right for a most prosperous year. If the Government and standard federal bank as well business had been properly managed, the resulting condition should have been one of happiness and the bank of georgia as well prosperity, and standard federal bank as well it would have been a year to make us all happy. Instead, a panic entailed enormous losses on us. Not many of us knew the cause. Wall Street was wise, and td bank stock quote as well it knew that we were demanding a remedy against a recurrence of such a ridiculously unnatural condition.
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