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North Central Illinois | Have an old friend who tells of what happened to a neighbor in the '30s. In the fall, he sold his crops and went to the bank to pay off his farm mortgage in full. Banker persuaded him to deposit the money in a savings account so he wouldn't need to borrow money again in the spring for inputs. Several months later the bank went under. All of the man's savings was gone. He still had to borrow money for inputs in the spring, and had mortgage payments to make for years to come. That is why so many in that generation kept their cash in a coffee can, or stuffed in a mattress. | |
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Too Big To Fail
