, 1901-12-16
WYOMING FINANCES
INTERESTING PAPER ON SUB.
JECT BY EXAMINER
HENDERSON.
Bankers Of Wyoming Possess the Quail
ification Necessary to the Ideal
Deposits Show a Per Capita of Six
ty-Eight Dollars, Exceeded by Per-
haps Only One State in the Union.

-
pared by State Examiner Harry B.
Henderson and read at the Industrial
convention last week. received the
close attention and hearty commenda-
ton of the large audience present at
the time:
Mr.. Chairman. Gentlemen of the Con-
vcntion:-The subject assigned me
is too great to discuss in detail in the
time accorded; therefore | trust you
will pardon general statements.
Banking.
| refer to our banks first; for the
reason that the business of banking
is the one business which comes into
close and confidential relation with ev-
cry other kind Of business. The inter
ests of every community are more or
less dependent UPON the bank and SO
essential are the offices of such insti-
tutions that we find them established
in every town, village and hamlet of
the State. They are the repositories
of the funds and condolences of the
citizens. Every banker has locked in
that safe where there is no time lock.
the confidence of his patrons, and in
order that his business may be. sue
cessful and the interests of his cred-
itors preserved, it is but right and
proper that he should know of the pur-
poses of those who become his debt
Ors.
That the bankers of Wyoming pos
sess the qualifications necessary to
the ideal, is evidenced by the success
of the business over which they pre-
side.
T'la,r arn nc -t1a Tho N-Nrrh
man. the perfect gentleman, possess
ing the graces of character which
make them leaders among our citi-
zens.
The growth of our finances has been
most remarkable. The number of
financial institutions has doubled dur
ing the past decade.
1t is impossible to present Stats
tics showing the exact condition of
the banking interests of the State in
1890 at the time the administration
passed from the hands of the Federal
Government to a State Government,
but sufficient information is obtaina-
BILE to approximate the conditions at
that time. The deposits of all the
banks both national and private Sep
TENDER 10th, 1890 were SO. $50, 100000
while the loans and discounts were
SO. $50, 600. 90.
According to the census for the year
1890. Wyoming had a population of
| 60, 900 and by adducing from the above
figures, we find hat the per capita
deposits were 1854. 90. Deposits sub
s%equently decreased perceptibly and
in October 1893 reached their lowest
ebb. when the per capita was only
about $4,000.
The reports of all banks in the State
at the close of business September
30th. 1901 show aggregate resources
of $S,744.7S2.00: loans and discounts
$5.527, 291 90 and deposits of $6.227,.
662. 90; a per capita of approximately
SOS. 90 for every man, woman and child
in the State. This e capita is ex-
ceeded only. by perhaps one State in
the Union.
In 1890 the rate of interest was ap-
proXimately IS per cent per annum
while in 1901 it will probably average
10 per cent per annum: many loans
have been placed at 8 per cent
Securities have enhanced in desira-
bility and are in the main, live stock.
The prudent stockman now makes pro-
| vision for the care of his stock during
severe weather, and reaps a benefit
from reduced interest rates, while the
banks suffer practically no losses and
are earning larger dividends from a
ten per cen interest rate thar was
ever realized at Is to "a per cent. In
this connection | wish to go on record
as an advocate of low interest rates.
If we expect our State to increase in
population and wealth, we must offer
inducements. and n of the best that
can be offered is a rate of interest
that will invite an increase in our re-
sources. This will also have a tend
ency to raise the standard of the Sc
C~urities and eliminate losses. | believe
that it was Mr.. J. J. Hill who said be-
fore a Bankers Convention held in the
state of Minnesota, Reduce your in
terest rates to three per cent per an
mum and you will double the taxable
wealth Of the state in five years"
Whether this would apply in Wyo-
ming. l am not prepared to say, but it
cannot be successfully contradicted
come increased prosperity to the la
borer. mechanic, ranchman. stockman
and banker.
State Finances.
In State affairs the question of f.
nance is not confined to any one de-
partment but is a matter studied by
each and all who are in any manner
intrusted with the administration of
public affairs. No other State Gov
eminent is so wisely and economical
ly administered. The trainers of the
Constitution, knowing the disposition
for lax and careless methods in man
aging public affairs that have char
acterized government in other states,
incorporated certain limitations in
that excellent document which must
be recognized by those chosen by the
people as their servants. So far there
has been no need of such limitations.
The officers chosen being successful
business men, have applied their pri-
vate business principles to public at
fairs. Wyoming can boast that her af-
fairs of state have been conducted up
on a cash basis from the date of quail
fication of her first state officers.
This in contrast with conditions cx-
listing in older and weather. states
whose treasures have been looted by
designing politicians, corrupt legisla-
lures and incompetent and dishonest
officials.
The limitation of state Indebtedness
is fixed at one per cent of the assessed
valuation of the property within the
state A debt of 1920, 0OO.O 90 evidenced
by bonds was created during the Ter.
ritorial regime for public building pur-
poses and we can point with pride to
our excellent public buildings and
State institutions which at this time
represent an aggregate cost of $685. |
381 90; all of which amount in excess
of the bonded debt, has been derived
from a small annual levy of taxes for
huildinR nnrnosaa L