“Pw RURAL. NEW-YORKER 
1033 
Will Y ou Build? 
Rebuild? 
Repair? 
yes ?— 
Then You 
Want This 
FREE Book 
Why ?— 
Because it can SAVE 
15% to ONE-HALF Your 
Building Materials Cost 
We can sell at these unusually 
low prices because of several 
favorable conditions. 
A Primer of Economics 
By John J. Dillon 
Part XXXVIII 
Besides the National banks, State 
banks are organized under general State 
laws, to receive deposits and do a general 
banking business. Congress, however, 
imposed a Federal tax of 30 per cent on 
notes issued by State banks, and this, of 
course, makes the issue of notes for cir¬ 
culation as money unprofitable for the 
State banks, and consequently they now 
issue no notes. Of course the iutentiou 
of Congress was not to create a revenue, 
but to prevent the issue of notes by State 
banks. This is one of the instances of 
using the taxing power to attain results 
other than securing revenue. The State 
banks, however, are permitted to become 
members of the Federal Reserve system, 
and they are doing so in increasing num¬ 
bers. 
1.—Our lumber comes to our docks in 
cargo lots of millions of feet direct from 
the big saw-mills. 2.—We cut and man¬ 
ufacture such items as Lath, Shingles, 
Doors, Windows, Clapboards, Frames. 
Interior Finish, for our Bennett Better- 
Built, Ready-Cut Homes in prodigious 
volume, consequently at rock-bottom 
cost per piece. We handle great, stocks 
of Paint, Varnish, Roofing, Wall Board, 
Hardware, Heating Plants, Plumbing, 
etc., and can sell at remarkable prices. 
3. —We load direct into railroad cars right ill our 
own loading sheds—no trucking. 
4. —Nothing is “Seconds,” “Second-Hand,” 
■■ Blemished ’’—everything we sell is not only 
new, but is up to grade in every particular. 
Low prices are possible because of tlio great 
volume handled and the economies of manufac¬ 
ture. handling and shipping. 
All these and more are listed in the Pig Free 
Bennett Bargain Book. Get it, and select what 
you need. Or if you know, now, .iust what is 
needed for your work, send bill of materials 
today—let us <piote low delivered price. 
If interested in a new house, garage.'.shed or cot¬ 
tage, send for free 73 page booklet, No. 500, illus¬ 
trating 50 Bennett Better-Built, Ready-Cut 
Homes. Build one at ft saving of 8300 to 1800 and 
in H the usual home-building time. Everything 
i$ furnished—complete. 
RAY H. BENNETT LUMBER CO.. Inc. 
Maher* of Bennett Home* 
5000 Main Street N. Tomwanda, N. Y. 
SCBHERLESS S U-SPEMDE R*S 
Always elastic—Phosphor Bronze, Rustless 
Springs give the stretch. No rubber to rot and 
wear out. Slip-loop back gives easy action. 
Once adjusted, always right. 
“A Full Year’s JVear Guaranteed in Every ‘■Pair” 
Suspenders. 75c Corset'‘Sew-Ons" per pr. 50c 
Men’s Garters-. .50c Hose Supporters, ail sizes 25c 
Ask Your Dealer. If he hasn't them, send diredl, 
giving dealer’s name. Insist on Nu-Way or Excello. 
Look for Guarantee Label attached to buckle. 
Nu-Way Strech Suspender Co., Mfrs., Adrian, Mich. 
rJHoantdka 
CIDER 
PRESSE 
draw the * 
Business 
Big Money made 
with M-G Cider Presses. 
Small investment. Quick, 
clean profits with little 
laborand expense. Demand 
for cider greater than ever. In¬ 
stall the reliable 
Mount Gilead 
Hydraulic Cider Press 
Standard lor 44 years. 
Largest juice yield. Easy to 
lyts operate. Fully guaran 
” teed. Sizes from 10 to 
460 bbls. daily. Com¬ 
plete outfits ready to ship. Also 
Hand Power Presses for Cider, 
Grape Juice. Fruits, etc., and 
a full line of accessories such 
as Juico Evaporators. Pas¬ 
teurizers. Vinegar Generators, 
etc. Write for catalog. 
HYDRAULIC PRESS MFC. CO. 
137 Lincoln Ave. Mount Cilead, Ohio 
{Durable, easy to 
Fopcrate, great ca-* 
r pacities. Many aizea 
Engine, holt, horse 
m..- perwttr. WRITE postal* 
4 4or cHAloff,t)ric«TODAYon 4 'ELll v ' 
-^-King of Balcri/’ 
^COLLINS PLOW CO. 
2044 'JHam|MhlrcSt.tQulncyAillA 
When you write advertisers mention 
The Rural New- Yorker and you’ll get 
a Quick reply and a “square deal.” See 
guarantee editorial page. 
The State laws also authorize the or¬ 
ganization of trust companies, which re¬ 
ceive deposits, do a general banking bus¬ 
iness, and, in addition, act as trustees, 
guardians, custodians of trust funds, ex¬ 
ecutors of wills, and managers of estates, 
etc. 
General State laws also authorize the 
organization of savings banks. These in¬ 
stitutions are managed by a board of 
trustees, whose duties and qualifications 
are prescribed in the law. The original 
intention of the savings bank was to 
provide an institution in which people of 
frugal habits and small means might de¬ 
posit their savings from time to time, and 
accumulate a fund for time of need or 
old ago. and in the meantime benefit from 
its earnings. The funds are loaned on 
mortgages in real estate, and on certain 
stocks and bonds, authorized by the gen¬ 
eral State law. In practice, the disposi¬ 
tion of the funds is controlled largely by 
large financial interests. The funds arc 
used in large and speculative enterprises, 
and little for the direct benefit of the 
small, frugal depositors who provide it. 
Only a very small part of these funds are 
invested in farm mortgages. 
The State laws also authorize the or¬ 
ganization of life insurance companies, 
fire insurance companies, casualty insur¬ 
ance companies and industrial insurance 
companies. These, of course, are not 
banks and do not, strictly speaking, do a 
banking business, but they do collect large 
sums of money from the public. They 
create reserves and accumulate large 
funds of money. This is sometimes in¬ 
vested in real estate mortgages, but more 
largely in municipal and corporate stocks 
and bonds. The accumulation of these 
funds and the use of them as capital in 
industry is a benefit to .all, but it bene¬ 
fits. particularly, the industries in which 
it is employed. When it is drained from 
farm industries and devoted to the use of 
other industries, as usually is the prac¬ 
tice. it works a hardship on the farm. 
The Controller of the Currency reports 
that ou June .‘10, 1920, we had 8,030 na¬ 
tional banks, 18,195 State banks, 020 mu¬ 
tual savings banks, 1,087 stock savings 
banks, 1,408 loan and trust companies 
and 799 private banks, with total assets 
of $53,070,108,000, or substantially one- 
quarter of the estimated wealth of the 
United States. 
Through it all, we see institutions cre¬ 
ated under appropriate laws for the bene¬ 
fit of manufacturing business, trade and 
commerce. These are carefully devised 
and improved until they serve these in¬ 
dustries well. They are developed for 
that particular purpose. They arc not 
well adapted to the needs of agriculture. 
We have few corresponding institutions 
that are adapted to the needs of the farm. 
The co-operative system is peculiarly 
suited to its needs, and if fully developed 
under a general national law, it would 
serve agriculture as fully as the present 
stock corporations serve manufacturing 
and commercial interests. 
“When T was once in danger from a 
lion,” said the old African explorer, “I 
tried sitting down and staring at him, as 
I had no weapons.” “How did it work?” 
asked his companion. “Perfectly. The 
lion didn’t even offer to touch me.” 
“Strange! IIow do you account for it?” 
“Well, sometimes, I’ve thought it was be¬ 
cause I sat down on the branch of a very 
tall tree.”—Miami Herald. 
One-piece 
Piston 
Pings 
stop 
that smoky 
exhaust 
because: no oil can work past them into 
the combustion chamber to be burned 
wastefully and harmfully. Black or gray 
blue smoke means that oil is finding its 
way into the firing chamber, and that one’s 
pocketbook and motor are suffering. Gill 
Piston Rings stop that at once. And they 
keep it stopped through thousands of 
miles of service because they are indi¬ 
vidually cast from a special heat-resisting 
gray iron that retains its tension. They 
stay oil-proof. 
THE GILL MANUFACTURING COMPANY, 
8300 South Chicago Avenue, Chicago, Illinois 
Canadian Manufacturer: 
BROWN ENGINEERING CORPORATION, Limited 
Toronto, Ontario 
Sole Export Agents: 
AUTOMOTIVE PRODUCTS CORPORATION 
Woolworth Building, New York, N. Y. 
Identify the Gill 
One - piece Piston 
Ring by the joint, 
but do not measure 
its merit by the 
joint alone. 
Gill Service is nation wide. There 
are more than 2,500 stocks of Gill Pis¬ 
ton Rings in the country. Some one of 
these dealers is located near you to 
supply you with whatever size you 
may want and the number you want 
when you want them. If your garage or 
repairman or accessory dealer doesn’t 
happen to carry Gill One-piece Piston 
Kings toll him to get them from his 
jobber or from the nearest of our 29 
Branch Offices. 
