Letter: R.F. Pettigrew to H.L. Loucks, June 22 1915

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MA 23 | B01-F07-I06

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  • 1915 June 22 (Creation)


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R.F. Pettigrew discusses with H.L. Loucks the plan for rural credits which has not yet arrived. Pettigrew strongly states his opposition to class legislation as well as the explanation for such opposition. Pettigrew briefly states his eagerness to write a letter for Pearson's Magazine on the topic of class legislation.

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R. F. Pettigrew
Sioux Falls, S. D.

Sioux Falls, South Dakota, June 22, 1915

H. L. Loucks,
Watertown, S. D.

My Dear Friend:-

Your plan for rural credits has not arrived. I take it that you are sending it to me. I wish I could have been at the Sioux Falls meeting.

I am opposed to any class legislation and believe that the system of rural credits can be best established by making every post office a postal savings bank, then by the establishment either by the state or by the nation of commercial banks who will do business directly with the people, loan the money for 1% above what they pay deposits. Of course this would enable the government taking control of the entire currency of the nation, and the further detail of that will have to be worked out. I have my ideas upon the subject and when I see you I shall be glad to talk with you about it. I am going to try and prepare an article for publication in Pearsons on this subject, but I have been so busy of late and have not been able to do so.

Am going down to Elk Point the 4th of July and talk to the people of Union county on some of these questions.

Excuse this brief letter, I am so busy that I have not time as fully as I would like to write you.

Yours truly,

R. F. Pettigrew

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MA 23 H.L. Loucks Correspondence with R.F. Pettigrew Box 1 Folder 7 Item 6

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