Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1900-08-24
EVIDENCES OF PROSPERITY.
Reports from All Over low" AhdAcate
Continued Increase in Ma.
terial Wealth.

The magnificent showing made by
the state auditors reports OF the sit
uation of the state and savings banks
is one that Iowa people may well be
proud of. One or two items from
this report are of Importance as show
ing comparison of the present state
of affairs with that which existed in
1896. In that year, there were 37o
state and savings banks in Iowa. In
1900 there are 40 of these banks in
the state, showing growth in num-
Der of 10 banks. But this growth does
not show the main important feature,
and that is the increase in the savings
of the people of Iowa as represented
by the amount due the depositors IN
these various banks. In 1896 the 370
depositors had in these banks $43,-
o66. 1919. In 1900, when the number
of banks had increased to AGO. the
amount on deposit had reached SOL
147,O56SS, or an increase in amount
of deposits over 1896 of SAT, 1So'263.o9.
This increase is more than the en-
tire amount of deposits in 1896, and
shows percentage of gain In tour
years of los per cent. This certainly
is wonderful showing, and this item
alone if there were no others taken
into consideration, would abundantly
prove the genuine prosperity which
the people of Iowa are experiencing.
In this connection, the statement
made by one of the leading bankers
of Des Moines is of interest. Speaking
of the growth of the banking busl-
ness in late years. he said that depos-
it's were steadily increasing and that
every indication showed that all classes
of business was much better than in
90. He said that the demand for
money was not for speculative pur-
poses, as many had feared would be
the case when the good times came,
but the applicants for loans nearly
all want money for purposes OF invest
ment in business, or in adding to and
increasing the scope of their present
business.
"We made a loan few days ago OF
$4,000 to a conservative firm, SAID
he, (which firm would not have Dor
rowed so cents two years ago.
don't say this because they could not
furnish the security two years ago. for
their securities are gilt edge. but as
I said they are conservative firm,
and did not care to increase their
business until they were certain that
the good times had come to stay. An
other firm to whom we loaned $4,000
within the week, borrowed it for the
purpose of investing it all in raw ma
terial for their factories. These in
dications lead me to believe implicitly
that the good times have come to
stay. In regard to real estate loans
1 have never known in the seventeen
wears have been in the banking bust
ness, the rates on such loans to be
so low. knew a few days ago of
large longtime loan being made here
in Des Moines on good real estate Sc
curity at AZ per cent, and it's pretty
difficult now to get longtime loans on
real estate security at per cent.
even. and we ourselves have OCCASION
ally paid little commission to get
a good loan of that.kind at that rate.
This is materially different from the
conditions in '96, when it was impos-
sible to get any money on the best
kind of security at less than per
cent, and very often it was hard job
to get the money at that"
This statement, made by one of Des
Moines' leading bankers only a few
days ago, is certainly worthy the con-
sideration of people who are dis
posed to croak at the condition OF
our people and to predict great calam-
tiles in case of McKinley's success.