Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1900-09-26

creulteu 10 the Tour Democratic years,
and five foreclosures, amounting to
$6,520.S5, for the four Republican
years since 1896. Black Hawk county
is an average county of the state in
general prosperity"
THAT is surely a good record for
our county," said Farmer. Brown.
i've always been proud of old Black
Hawk and even If your arguments
don't persuade me to vote the Repub-
lican ticket, l feel that l am learning
a whole lot"
Rates of Interest.
Il have some more figures and data
from one of the leading monied insti-
tutiOns of Waterloo, which city, by the
way. was, | believe, at one time the
home of Ex-Governor Boes, who / see
has again come out for Bryan in spite
of the fact that he has said, time and
again, that the Heaven born ratio
cannot be maintained. This letter
which | have just received is so full
OF meat that l am going to read a
good part of it to you. The writer says
that the demand for money was large,
but few loans were made prior to the
election and loan companies prac-
tically made their own rates and gen.
orally refused to loan unless on gold
contracts. The rates were from Z to
s per cent. Rates now are close to 5
per cent on Iowa farms and the de-
mand is limited even at that rate. Co
ing more into detail the writer says:
In 1896 the demand for money was
very large for the reason that owners
of cash were unwilling to part with it
with the uncertainty before them Of
being paid back in inferior currency,
and owners of notes wanted them
paid. We made, during that year, the
same as many years, a large number
Of loans in this state payable in gold
coin. Since 1896 that practice has
been discontinued and it was not near
ly so common to make gold notes in
the years preceding as in the year
1896. Money was, practically, .unat-
tainable on mortgage or for long time.
While we and other lenders had plenty
we were afraid to part with it and
funds were idle unless loaned on gold
notes. Those who could borrow
made money by using the money to
buy stuff from the unfortunates who
had to sell their property to realize
cash to pay their debts. Creditors
wanted pay before there was any fur
ther slump.
Value of Farm Lands Enhanced.
"'At the rate of interest now, any
quantity of money can be borrowed on
Iowa farms at per cent with
cash commission barely sufficient to
pay the actual costs of examining
security and title. Money never was
so plenty or so cheap.
"'The fall in the rate of interest has
lessened the income producing power
of every doller loaned in the state,
and by that much has raised the in
come producing value of every acre of
land. If man had farm which he
could rent for So per acre cash, or crop
rent in the years preceding 96, it
would still produce as much rent as
before. whereas the money value of
that farm loaned out now will not
produce more than three-fourths as
much income as it would in 1896.
81 believe the fall in the rate of in
terest has enhanced the value of every
acre of Iowa land % per cent
when we We're over at the state
auditors Office yesterday" continued
John, Il got a copy of the auditors
annual bank report showing the cOndi-
ton of the state and savings banks of
Iowa for 1896, and also a statement
of their condition on June 30,1900. To
make this comparison Of banking con-
ditions cover all the banks in Iowa
outside of private concerns, l have Sc
cured figures from Hon. c. G. Dawes.
comptroller of the currency, at Wash
ington, showing the condition of the
national banks of Iowa in 1900 as COM
pared with 1896. These figures show
the deposits of the people of Iowa in
state and savings banks. To
arrive at the figures OF the entire de-
posits we should add probably one
third for the private banks, from
which no statements are available"
John handed his father the following:
Iowa Comparative Bank Statement.
Comparative statement of the condi-
ton of the national banks located in
Iowa, as shown by reports made by
tbarn m tha cOmntrolJar Of tha cur