The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-24
A LESSON IN CONFIDENCE.
II. r.. ShieI Makes Practical ArGu-
ment mt jamestown.

Special to the Indianapolis Journal.
JAMESTOWN, Ind, Sept. 23.-Hon.
Charles B. Lands and Roger R. Shiel
spoke at big meeting here this afternoon.
The speech of Mr. Shlel was something
novel and interesting in the line of a politi-
cal argument. He said in part:
II have been invited here to make a
speech to you to-day. 1 don't expect to
make speech, but L come to talk business
to you. Thirty years ago l made my first
visit to your place. At that time this part
of Boone county a wilderness COM
pared to what it is now; in fact, they
talked of it as a frog pond swamp OF
Boone county. l came here on horseback
and bought about three hundred hogs of
Mf van AuSdel, then your neighbor, living
about a mile and half east of here. Per-
NIT me to occupy your time a few minutes
TO show you the difference in the manner
OF doing business then and now. AT that
time, when trader went to the country
to buy ", farmers stock, he had to carry
at the scales, and | brought with me about
5000 in currency. The hogs We're driven
by Mr.. Van Ausdel to Indianapolis for me
after / purchased and paid for them in
currency, the price being $3.50 apiece My
next visit was in the fall of 1868, when |
purchased two carloads of Van Ausdel &
Lowry, then living in Lizton the first two
carloads ever shipped on your road, then
Van Ausdel's farm and used a wagon bed
for chute to load them, the railroad
been year since that [ haven't been buy
ing your stock / continued to come here
ana DT1fB InE currency up until ABOUT 1914
OF 1875, when the trade changed. 1 have
often carried $4,000 to this and Hendricks
county to pay for stock. but since 1875 my
checks have been going all over your coun-
~ and Hendricks and Montgomery. and
when I purchase stock from any farmer l
have, given my check. for it, and he has
posted il in mis- bank, and understand
that all local buyers now give their checks
to the farmers when they buy and very
little. if any, money is paid out at the
scales where the stock is delivered 1 re-
SIS. 600 worth of cattle of your neighbor,
Crit Clay. who lives few miles south of
my check. for it; he carried the check
home, and it was a week before he de-
posted it in his bank at Danvile. At the
nave thousand dollars in the bank where
did business. but the same day deposited
able in five ID days in New York, and don't
suppose Eastman had any money to meet
[h be6 dr b to pc N hers I saw
Eastman killing the cattle and loading
them on vessel to ship. them to Liver
desk and said, You see my bookkeeper is
making q thirty-day draft on Liverpool to
when her the the thirty days Rolled around and
the draft was due in Liverpool Eastman
had sold the cattle in his butcher shops
land, and collected the gold for them from
all classes of people in those countries. So
you see it does not take the actual cash
to be paid down at the scales to carry on
business as it used to thirty years ago
Gay had c b IN me h waen on ne eooe
in me when he allowed me to draw the
Eastman draft and gave me credit for it;
in Eastman when it allowed him to draw
on Liverpool and give him credit for it.
Year and don't handle $500 in currency,
while thirty years ago / had to pay out
currency for all the stock I bought.
II can remember one time carrying home
from Pittsburg $4,000 in currency-this was
in 1S69-and in 1872 q number of times car,
came to this and adjoining counties and
paid it out for stock at the scales.
Now am not,going to talk to you about
that it don't take much money to do
business now as it did thirty years ago,
finances there is as much or more money
per capita than there was thirty years ago
enough money to do the business of the
country That is not what is the trouble.
1t isn't more money; it is more confidence
We want.
Il was in Fletcher's Bank the other day
when Mr.; Fletcher threw down his balance
sheet and showed me that he had So 900, 900
on deposit, and he said that he had some
thing near six thousand depositors. / asked
him how much he had loaned out of that
it in bank I asked him if he thought that
was good banking; he said it wasn't profit
belonged to the depositors and not to him,
and while this agitation was going on he
WASH gong 10 lodn another man s money
when the might come in any day and
call for it. He said: Some of it is yours;
you are liable to call for it at any hour.
and / have it here for you. If this agita-
ton wasn't going on we could loan our de-
posits safely down to within so or 40 per
cent Years ago the manufacturer used to
borrow money and manufacture in the fall
for the spring and in the spring for the
fall, but now our best manufacturer only
manufacture to fill orders and don't carry
any stock, and they don't need the money
they used to: there is not the demand for
it from the manufacturers and we are glad
of it. because we prefer to keep the money,
in these kind of times, in our vaults. When
an individual leaves the money on deposit
he leaves 1t here for safe keeping and
wants it when he calls for it, and these
kind of times we are prepared to pay it out
to him when he comes. Many of our Gus
toners have deposited gold and they expect
gold Mhan they for their money !, >,