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wntr uujcvuuii uucicu iu uus um has been that some worthy small businessmen borrow from their local bankers and they are not well enough known to borrow outside of their own communities. To meet this criticism I introduced in the Senate last week a bill which will encourage bankers to make such loans.
My bill would allow the Federal Reserve Banks—which really are bankers’ banks—to guarantee payment of up to 90 per cent of certain specified types of loans or to buy these loans from the local banks. This second provision means that if a banker would like to lend to a business concern which needs money for up to ten "years but might hesitate, fearing he would need the money to pay his depositors before that time, he can be assured of getting the
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