Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1900-09-26
FARNERBRONNAT9'H(DL
SAVINGS OF OUR PEOPLE.
Increase of Deposits In National, State and
Savings Banks of Iowa Over $685.
OOO,O 900 Since 1S96--Total De-
posits S137 100000.
Sixth Lesson.


have been able to obtain relative to
the condition of the banks of Iowa and
compare their prosperity al the present
time with their condition in 1896, when
each one had their money locked up
and would not loan except OH the very
best class of gilt-edged security. You,
doubtless, remember how difficult it
was to borrow money in 1862"
Difficult to Borrow In 1896.
"That l do" replied his father. 81
remember clearly that | wanted some
money then and wanted it bad, but 1
couldn't get it and came pretty near
having to let piece of the old farm
go to satisfy mortgage"
II do not believe you would have had
any such trouble now" continued
John. Instead of having trouble to
borrow money the banks at this time
are anxious to loan and do not ask 6
per cent interest either. Good long
time loans on real estate security can
be made at per cent and you are not
asked 90 pay commission either.
with the cashier of a leading bank Of
this city, and he said that during the
II years he had been in the banking
business he never knew of loans on
real estate security being made at such
low rate of interest as now. He tod
of one big loan which had been made
recently at Az per cent interest and
said that it was getting pretty hard
work to make loans at PEI cent.
Speaking of the condition of the farm
Ellyson said that instead of borrowing
money some of them were lOaning
money now. He instanced a case
where he had gone out into the coun-
try to try to buy an issue of $1,000. of
school bonds. He said he could not
get them because when he found the
secretary of the school board that Of
fetal informed him that the bonds had
been issued all right enough, but that
the farmers living around there had
bought them themselves.
Easy to Borrow In 1000.
'He said there was very little money
being borrowed for what might be
called speculative purposes. Loans
were now being made either for in
vestment or for business purposes and
the investments were for purchase of
property or adding to existing plants.
He said they recently loaned $4,000
to one firm which was so conservative
that two years ago they would not
have borrowed 80 cents, although
their security was ample. This, he
said, indicated that conservative peo-
pie were satisfied that the good times
were not of mushroom growth but
were stable. People who have bor-
rOwed money are very prompt in pay
ing the prescribed payments thereon.
He spoke of one company with which
he was connected that had $30O,OOO
loaned to Iowa people and only one
man was behind with his payments.
"Abe Lincoln Money"
"He gave several examples of the
returning confidence of the people as
shown by some of those who come to
the bank to make deposits of money
that had evidently been hidden at some
secure place at their homes. A
roll of money was handed over
the counter at the bank for de-
posit the other day, he said,
which was moldy and the would-be de-
positOr admitted it had been hidden
at home for a number Of years, but he
had come to the conclusion that it
would be safe in the banks now. An
other man brought i'm a tin box full
of money and said it was ABE Lin
coin money and he wanted to kno
If, in case he deposited it. he could
get as good money in return. On be-
ing assured that, under Republican
rule, all kinds of money issued by the
United States was as good as ABE
money, he concluded to de-
posit it."
Il know it is good deal easier to
borrow money now than it was four
years ago." SAID his father, "but how
is it about the foreclosures of mort
cages? You know l had hard tussle
win that on my farm and l would
like to know, just for the curiosity of
it, what sort of experience in that line
the farmers are having now?"
Times In Mr.. Boies' County.
swell, father, I can give you a little
that will be of interest to
you because it comes from your home
You know Captain Williams,
the clerk of the courts in Black Hawk
l guess. Well. l wrote to him
the other day and asked him to give
me statement of the number Of fore
closures of mortgages on farm land in
Black Hawk county for number OF
years past. l received an answer from
him this morning and l find the fol-
lowing information therein:
''ln 1896 there were eight fOreclos-
ures of mortgages on farm lands in
Black Hawk county, amounting to
$14,094.77, while this year there has
been two mortgages foreclosed,
to $2,OO7.S3. The number
of foreclosures in Black Hawk county
during the four Democratic years. be-
ginning with 1898, was 20 and the
amount $41.945.12. The number of
since 1896 was six and the
amount $B. 7S4.45. This showing,
however, is not exactly fair to the Re-
publican years. for the reason that the
L..