The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-12-08

| complex and laborious duties incident to
| his vocation.
Events of more than national import
ance have transpired since we last met.
| Without special preparation for war, nor
| contemplating any immediate necessity
for an unusual contingency our people
were confronted with a condition of af-
| fairs requiring calm consideration and the
| wisest counsel that our dignity might be
maintained and the important questions
so suddenly and imperatively demand
! ing solution be wisely considered.
That we became involved in war was
rather the result of a combination of cir
/ cumstances as remarkable as those which
| continually presented themselves during
| the period OF hostHties, and which so
| miraculously led US out to a wider USE
! fitness as a nation and to victory that
astonished the world. Old doGmas and
| theories concerning territorial expansion
hitherto so reverentally regarded have
| become matters Of small moment COM
pared to the newer problems, the consid-
Grafton of which had not been antici-
! pated.
Notwithstanding, our long, boosted su-
periority as a nation, the achievements
so wonderfully wrought were no more
surprising to others than to ourselves, not
only in conquest abroad, but in the re-
quirements of the occasion at home.
To prepare for so unexpected and unu-
sual expenditure an experiment Of Of
fering to the public 500 100000 of govern
ment bonds was made so that in every
respect it might be a popular loan. Noted
financierS predicted failure, but to the
surprise of all, subscriptions were made
for several times the amount,-more than
500 600 600 of the loan went to go, 600 peo-
pie, each Of whom subscribed for $500,
or less. We are told that if the United
States had accepted in currency all the
subscriptions made the treasury would
have absorbed seven-ninths of all he
money in circulation in the country, and
that if the number of persons who sub
scribed for bonds were standing side by
side they would form a line one hundred
and twenty miles long. Almost every
occurrence has similarly illustrated how
little conception We had Of our resources
and capabilities.
Disaster to monetary interests was pre-
dicted and we are astonished that since
hostilities were declafed s165, 600 OOO have
been expended, or S1,000,0G0 per day in
addition 10 the ordinary expense of the
government and no disturbance in finan-
cial circles has resulted. On the con-
trary, the gold reserVe(a matter of SO
much general interest a few years ago.
and which we have learned TO regard as
an indicator of public confidence, has, re-
gardess of these unusual demands. in
creased 100000 since April 5, 1898, at
which time the then high water mark had
been reached. Deposits in the banks of
the country are greater than at any time
in its history Our merchantable COM
modities are more in demand abroad and
consequently our exports are larger than
ever before and ali indications bespeak
continued national prosperity.
AS a community Oklahoma reioices with
the Nation, having reason TO be grateful
for the opportunity to contribute her
share, not only by representatives enroll
d in the Rough Riders" whose achieve
ments at San Juan Heights are historical,
but in the shipment of wheat, corn. cot
ton. cattle and hogs that have gone TO
help feed and clothe our armies.
Another bount <arvest has been gar
nered, the returns from which add large
" TO the wealth OF the Territory. When
the people are prosperous our business
prospers, Notwithstanding the often re-
peated assertion that the contrary is
true.
Without any material increase in bank
ing facilities the deposits in territorial
banks. as shown by the reports OF the
bank examiner. were increased from ST.
499 1893 July Is. 1897. to s.. so. ass. is, /
June 80. 1S9s. at which date the report
further states, that not a bank in the
Territory carried 4 re-discouut In addi-
ton 10 this. the six national banks IN
the territory showed by their statements
May 5, 1898. an aggregate deposit OF 81
027, 1851. with the same showing of re-
discounts as the territorial banks. In
dOubtedly as large 4 proportional in
crease in business might be shown at
this time
The settlement and subsequent growth
OF OR Territory has indeed been remark
aide, its material prosperity has exceeded
all expectations. the events OF its his
tory followed closely in the wake OF the
boom days" and Yet we have inherited
little Of its consequences. The panic OF
1898 only FASTENED the failure Of insti-
JuJons whose unbuSiness-like methods
would. by i slower process. have accom-
plished the same results.
The banks Of our Territory give evl
dence by their periodically published
statements not only Of a confidence i'm
posed. but 4 prosperity enjoyed b. The
people thar Is truly encourag ing.
As fraternity, we have kept pace
with the progress made in other voca-
lions. and me nonor Of the profession Is +
maintained by its representatives. That
these very desirable conditions may ne
continued L IS essential that We fully
@toEccla>e ne iInifoFSSliac OF me matters
representing themselves for consideration. Z
especially those which pertain TO such
amendments 70 our barking law as eXoa-
rlence has suggested should be made. aal
only -hat Tie individual banker may br
protected. hut equally important that ,ae
interests ~ MS customer. Jh-s depasitorl
may ce Su2Ided. Cor what adds safety 20
the ae,'osi'or mos. surely brings increased
deposits % Jhe banker
A. one Il our aaiest men and one Who
has given SIC matter as much Thought
DerhAps. aS any one. has prepared pa
per on The subject of VIVA. Legislation
* Needed by Che Banks Of the Terri
tory. i shah n0J attemp; 10 point aut
any special matter for discuss Owiae
80 the hasty manner IN Which ,he isW
Y as enacted ar t1e incompeiencv Or tAs
l'S slatire body that PASSED upau : Il