One day an old native American needed a loan for $500.
He went into the small town bank in and asked to borrow $500.
The banker pulled out the loan application and asked him “What are you going to do with the money old timer?”
“Buy materials, make jewelry, take to city and sell jewelry” was the response.
“Okay then” said the banker, “But what have you got for collateral?”
“Don’t know collateral.” said the Aged native.
“Well” Said the banker, “that’s something of value that you own, that would cover the cost of the loan if you are unable to pay us back the $500 plus a little interest for our troubles, Have you got any vehicles?”
“Yes, 1949 Ford truck.”
The banker shook his head, how about a home?
“have large tee pee by fishing creek”
“nope, that won’t do it either, said the banker, “How about any livestock?”
“Yes, I have a horse.”
“Great! and how old is your horse?”
“Don’t know, has no teeth.”
Well the banker was feeling benevolent and so decided to give the Indian the loan anyway and had him sign some papers and gave him the $500 cash.
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Several weeks later the old man walked back into the bank and pulled out a big roll of bills, “Here to pay loan.” he said.
He then handed the banker the money, plus a little interest, to pay his loan off.
“Well now, what are you going to do with the rest of that money?” said the banker, eyeing the large roll of cash in the natives hand.
“Put under rock near wigwam.”
“Why don’t you deposit it in my bank,” the banker countered.
“Don’t know deposit.”
“Well, by deposit, I simply mean that you give US your money to hold onto, then later on, when you need the money back, we give it back to you, with a little interest for your troubles.”
The old Indian leaned across the desk, “What you got for collateral?”
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