OLD GLORY AND THE BOND FLAG AT THE AGENCY
“What shall we do if hard times come, and we must have cash?”
I knew that a Hopi would never be able to grasp market conditions. Indeed, being of “the sticks,” I had little idea myself that Government bonds would so quickly slump in value. It was necessary to convince and sell; and I held the confidence of these people to some degree.
“I will see to it that every man’s bond is redeemed at face value, should he come to me in need. You will not have to wait for maturity. These bonds will not go begging.”
And in some cases, I had it to do, regardless of the quotation. But these instances were few, and to the credit of the Hopi be it said that, once invested, the major part stood firm, treasuring their green papers, the first bank-accounts that many of them had ever owned.
It was at the Second Mesa that I held my first meeting, and a whole group of hold-tights and skeptical were swept into buying through the example of the poorest and most despised man of that district. They gathered at the council and asked many questions.
“But we are poor, and we have no money for bonds,” they protested.
“I am not asking you for fifty dollars to-day, or to-morrow. I am asking you for one dollar, and the promise to pay out the balance in installments. When you have paid the full fifty dollars, with interest, I will deliver the bond to you.”
“How can Washington sell a fifty-dollar paper for one dollar?”