Evening Star Newspaper, March 11, 1932, Page 38

THE EVENING STAR, WASHINGTON, D. C, FRIDAY, MARCH 11, 1932. SuDPUTH sfor Where your treasure 15 there wall your heart be also The hoarded dollar is the symptom of a fearful heart. There is a striking example of cause and effect in the - The one who withdraws his money from circulation and hides it away betrays a gnawing conviction that most of his future is behind him. Every time he adds a dollar to his hoard he lays away with it fragments of his own courage and enthusiasm. The clanging lid of his strong box rings the death knell of his own initiative, and in the dust that accumulates upon his hoard there is the odor of relationship of frozen assets to cold feet. dissolution and decay. In the entire record of human achievement we do not find the name of one miser. There has never been a nation of misers, because hoarding breeds suspicion and distrust, and these are not the stuff of which nations are made. Nations are founded on mutual confidence. Confidence is the basis of credit, and ¥ credit has been impeded in its flow. There is, lying dormant, a flood of at least $7,500,000,000 in busi- ness credit, waiting to be turned back into the chan- nels of normal business. credit is dammed up by a hoard of $1,500,000,000 which has been hidden away, withdrawn from banks, withheld from sound investment and in many cases denied the exercise of its normal function, which is the purchase of the necessities and comforts of life. Every one of those dollars is worth from $5 to $10 in busi- That vast flood of ness credits. Dep051ted in banks, invested in well chosen Go to Any Bank and BUY UNITED STATES $100 $500 BABY BONDS 29, INTEREST credit is the lifeblood of human achievement. Shut off the stream of credit and human progress ceases as surely as the mill-wheel stops when the flood-gates are closed. The quick- est of all ways to close the flood-gates on the stream of credit is for a considerable number of our people to hoard their money away. Clarence A. Aspinwall Edward F. Colladay W. S. Corb; . S. Corby Frederic_A. Delano oshua Evans V. W. Everette Wnm. J. Flather gxshop James E. Freeman Dr. Gilbert Grosvenor Wm. F. Ham John Hays Hammond fhe 11 thos, Dr. Geo. C. Havenner Coleman Jennings Joseph D. Kaufman ohn C. Koons ark Lansburgh Sidney B. Lust . John J. Pershin, o Facle | k8 L. Rust )= Dr. Abram’ Simon Gen. Anton Stephan Corcoran Thom PRESIDENTS Donald Chamberlin Maj. Geo. otten Herbert L. Brooks Dr. Geo. C. Hayenner We are suffering today because our stream of John T Townsend F. D. H V. SChl’C!b!l’ Thomas W. Joy Erwin J. bebs Burd W. Pay Mbert l- \\ cslrater E F. E. S. H b Dr. Ed L Richardson Allen Fuher Wm. Mrs. o-eph M. Saunders Mrs. Ruth S. McKelway Hazelton Redeemable on Sixty Days Notice PRESIDENT HOOVER’S CITIZENS RECONSTRUCTION ORGANIZATION District of Columbia Branch oseph P. Tumuhy oyd B. Wilson Robert V. Fleming St Fl anton C. Peele eming Newbold Franklin H. Ellis A CC B. ase M. Bergunder Ralph Goldsmit Harold Levi Bryon S. Adams Arthur Abbott Dr. Arthur Christie M. G. Gibbs Ralph W. Lee Samuel H. Kauffmann Frank $. Hight g_uhu: Garfinckel Cl arence F. Norment, Jr. Randall H. Hagner Dr. George F. Bowerman John H. Cowles M erle Thorpe David Lawrence OF CITIZENS Joseph E. Oliver John Otto Johnson Harry Friedman B. M A. Bowles yron R. Walker ot C L. Scott Jos Joh 1 seph Fitzgerald, Jr. n S. Driggers oseph L. Gammel rs. Ella M. Thompson . H. Seaquist Dr. A. C. Christie A, Wi J Guy Reber ill P. Kennedy Horace J. Phelps Ed gar B. Henderson Leon Arnold Herbert F. Mati F_ G. Si L. Buckman Sonrgs § ek NEWBOLD NOYES, Chairman CERTIFICATES OF INDEBTEDNESS $50 You don't have to be a depositor—every banker has enlisted his services in this campaign. A. Julian Brylawski George W. Offutt Harry King J M Bow|¢ Frankg Hog:n Joshua E\ans Jr. John E. Locker S. Percy Thompson Edgar N. Brawner Eugene R. Woodson I l{ die lizabeth M. Haney Henn Schiffert Maurice L. Townsend Gordon Bonnette Mrs. Wm. Lee Corbin Mrs. Amelia Gude Thomas Mrs. Nell R. Hysong Dr. Wm. Ballinger Howard W. Berry Edmund S. Jewell Ira Bennett Theodore \V Noyes Norman C. Kal Arthur B. Marks Aubrey Taylor ASSOCIATIONS Dr. Lewis J. Battle Dr. Clarence A. Weaver A. G. Hermann {’\:}seph M. Chaffer . W. Keeler S. E. Blassingham Geo. J. Cleary Bessie B. Warren Robert D. Lyons Allen S. Jackson Enoch G. Gray W. W. Horab Dr. J. A. Porter J. Henry Lewis S. J. Murry Dr. G. H. Richardson Andrew L. Mundy George W. Beasley P. M. Tolliver C. N. Martin Rev Anhur Cluchuter e e industrial securities or Govern- ment Baby Bonds, that $1,500,- 000,000 will release upwards of $7,500,000,000 in a flood of life- giving credit which will wash away bread lines, start the wheels of in- dustry turning again, stabilize our commodity prices and carry the values of our investment securities back to the high tide of normalcy. Business in Washington has been affected less than in many communities, be- cause our people have re- fused to be stampeded by the bogey-man of Depres- sion, but there are several million dollars tucked. away in our city which should be turned back into normal channels of busi- ness. We all agree that we must do away with depression by our own efforts, if its yoke is to be lifted from our shoulders. Let’s make our first effort an endeavor to put those idle dollars back to work.