Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-08-06
WE ARE ALL RIGHT
Grand Rapids Is Emerging From
the Hard Tines
INTO A FIELD OF PROSPERITY
An Oar BANKERS Ensse In she opsnion
Ib.s shs Crisis iis- Iseen E'..-ed
and Better Iiasz. Arc Here


ths era u diihsisaes aud dlssrpst whish
has checked enterprise and staplsed
specaiatlon for The past several u1oashz
Ihefe = . more bcuyanl and hopeful
taEE Il affairs Tor the better. In the
sest The recsnt Succession u bank fail
eres has besn followed By 4 stsadier and
more conservative management 0f bank
Ia Institutions. add there has been =
palsse 10 the sf4mpeeiing hosts Of alarm.
t4ts. Ia the east the hanks are Offering
premiums Tor curfency which Indicates
that there - al active demand For money
among merchants and manufactgrerA
The large rstuFn q gQid helps % stimu-
late weakened eonfidencc. On the y hole
the conditlon u the country h tlornfally
alert but irepiaiztion on the pafs & msn-
ufsetuTers ussy Do expected 70 Fetar5
speesiy return % eompiets business
sere alty.
GFaLd Rapids has escaped any Of the
faE--eaching consequences u distrust.
There have been ssveEal Instances OF
withdrawal of deposits but with one Ell
eepton, possibly more. these deposits
have been returned 20 the bank-
Ihere have been DO business failures.
No banks have been compelled "a re-
nanos upon them
We have wsafhesed the storm without
the loss or serious embarrassment Of any
Il our interests
Great - Grand kapids!
Appended are a nnmber OF brief In
teryie1s with bank officers. They are
"a value. not because they are from
bankers as such. but because they are
fsom men whose daily experience en-
ables them IA speak a. with authority.
Thomas ID. Gilbert
The Hon. Thomas il. Gilbert, presi-
dent u the National City bank--Whaf
IHE HFxALD printed this'moruing from
" ard McAlster on the situation tells
the story better than | can he told
The whole thing in a nutshell. When
he people put back into the banks
what they have fooiishly drawn cut
there viii be no lack u funds 10 do the
business Of ths country. We are now
going through with periodical process
II liquidation. squeezing tho wind and
water out Of inflated schemes. The cur
reacy 81 the country II ca a sound basis.
and Iocaily II Ne can keep our industries
running so that labor will not have 10
be discharged from our factories. xewill
come out all right before long. The
banks viii pull through without any.
difficulty. IL The country can devise
some means "a turn the balance Of trade
Ia favor % the United States. NE will
have better times than ever before. The
hard times are proving disastrous 90 our
local charitable institutions. and they
are tadly in need q assistance Persons
who are charifably inclined ought 70
come forward with contributions 20 keep
them from becoming permanently
crippled
william a. Fowler
William II. Fowler cashier Of the
Filth National bank-l think the re
peal 81 the silver purchase law would /
have tendency TO draw money here 1
from foreign countries. and money would |
then circulate with more freedom This l
financial depression in the United States
has been csuaed Ia the main by tariff |
agitation II has frightened manufac- T,
turers. and many % them have shut
down their factories and temporarily /
discharged their employees. These two
questions have been the prime causes
for the present condition BY destroying
the confidence % business men IN the
United States / think the worst n over
nov. a. the gold tide has turned this
way IRON Europe.
Martin l. sweet
The Hon Martin l. Sweet. President
~ the old National Bank You know
the NeN York banks are issuing more
currency. and II congress passes the
proposed law allowing nsfiouai banks To
ISSUE dollar Tor dollar on their deposits
II will add about si5U0co0 20 our CIR.
cuiation THIS gill supply the vacancy
caused ~ individuals boxing np their
private funds IL looks now "a II money
co1ld 10 imported from Europe aud
everything looks brighter This imam
riai crisis u Only the result Of lack Of
eont1encs by TIE people. They have
hecone scared and NIfhirew their De.
posts. placing them in private vaults.
where The money does nobody any good.
These people eiii $50 their mistake be-
fore long and place their money back n
the banks There "a 60 cause for die
trust or lack q con'isience IN this
country There sre good crops add
plenty q money aud there - 20 reason
IA the world Nhy times should not be a.
go,al asthey evrr were. Although ihe
foreign semsud Tor our products - not
80 xUod a. 10 has been 10 Years past. we
have every injicatioa e better fimes az
-" - 80" e. ~ fee@ -" t1f'A 49, D't-
fsisnce.
Frank w. Davis
Frank VI DAVIS. cashier ~ shs Grand
Rapnls National hack The francial
sitnafien - boxing brighter The ie
pressanx stxingrncy - al the result % a
scare over the sherman silver till aud
The tiYainags caused ~ the worlds fait.
81 hile the woflds fair = great esinca-
Tor II - A. the same time a damage 70
TIE financial interests Il the crantry
Hans people va ought 81 ray their
debts =, business men can have the
money - nee are keeping il ~ 20 % he
verlfs FAIR With People have hecome
frigh teresi sud taken fbcir deposits cut
= ne back Instead - putting y INTO
eifeulstian they bsve bearded it IN
private fssits uherr ~ 3oe~ nohosiy any
Ettt tea 49, at been The case here
=, nafh - in ether rities People dont
neeeisfsno tse banking system - well
- fet F-at t. The othsf day a
isti7 tstr penie money from
ftal tank ent Showing ne The
etls irq4sfr'i e hey uere gspatl. She dld
not SncN that ~ issues 81 rational
t''f.ss srF sreiFs.i ~ Euvefnmeof bouis
tnd *re - safe ~ Inc bonds Themselves.
u rFfple 1,tierslre.l TIE hsnxsng sysfem
tFster es.nt..encr wno,l rat Re broken
- sa<iF aepr Ne silver biz wlii he
reported. a. Il night - ooe q the
ntests q rfsfsrlne ttss lsf cocfsieace
oat Iecel f3cts sre az tssrservafivelv
rlaneafi and eer ~ttcrs rho draw their
rsorey fof - parrose - pnttina n
yaaits tre r-lnng 81 lAeir oNa Heals