Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-12-19
Governor of Minnesota Sees No
Cause for Hills Gloomy
View Of the Times
THE SITUATION IN THE WEST
Believes Conditions Are Such That the
Present Industrial Supremacyls War
ranted and Will Be Ornament
Scarcity of Money in Wall Street for
Speculative Purposes Not Alarming.

Minneapolis, Dec. 19.-The Journal
prints the following interview with
Governor Van SAINT:
Governor Van SAINT does not share
James j. Hill of the Great Northern,
and believes that there will be no seri-
Gus break in present prosperity. He
talked freely this morning to a Journal
man on business conditions and the
reasons for them, and in an unnistak-
able tone referred to the current Wall
street conditions. He believes that
over-cap italization must bring it's day
of reckoning to spectators, but that
present business activity is on too
sound a basis to be disturbed seriously
or overturned in any such way.
The governor returned from Iowa this
morning. He spent day or two at
Davenport, his old home, where he still
has business interests When asked as
TO conditions in that state he replied
that business was good and everyone
with whom he talked was hopeful of
the future.
Why not?" said the governor, iowa
last year raised corn crop estimated
at 96.950,3S0 bushels, valued at $685.
43270S. Other products would bring
the total value up to the enormous sum
of s216.722,339. Is it any wonder, then
that the people of that great common
wealth are optimistic?
"I took occasion to speak good
word for Minnesota. The situation
certainly warrants it, for our state was
never in more flourishing condition
than at prices fair, labor well employed
at good wages; the output of our mines
the largest in our history, our mer-
chants are doing splendid business:
our mills and factories are running at
fullest capacity. Our transportation
companies are taxed to their limit to
carry our produce and wares to market
and, perhaps better than all, our farm
lands have in the past six years in
creased in value from 25 to so per cent
the latter figure more nearly correcD-
and, notwithstanding this increase,
there Is and has been large demand
for our lands. There is a great rush to
our state, and thousands are coming
from Iowa. 1t Is said that millions of
dollars have been drawn from the saw
ings banks of that state and are in
vested here. All the savings banks of
Davenport, and presumably others
turnout the state, have decided to in
crease the rate to be paid depositors
after Jan. ! to 4 per cent. It Is doubtful
If even so favorable rate of interest
will stop the flow of Iowa money into
our state.
"The fact is generally known that
diversified farming is largely on the
increase; formerly we We're thought to
be exclusively a wheat-raising COM
munity: especial attention is now given
to dairy interests. We have some 700
creameries and more than 100 cheese
factories, and last year the people of
our state were enriched from said dairy
interests fully $20,O00,OO0; and in time
the sum will reach $5,000,000 annually.
We are also making rapid progress in
stock raising land while we did not at
the great international stock show at
Chicago quite come up to Iowa, we
made most creditable showing and
captured many prizes. told my old
neighbors all this and more. 1t is safe
ter off than at the present time
well, Governor, said the Journal
man, according to your view Iowa and
Minnesota are all right; what do you
think Of the situation generally"
Il look for a continuance of prospect
ty," he returned emphatically. I'VE
have a stable currency, every dollar of
our money is worth 100 cents in every
portion of the globe. Our banks are
very conservative and are carrying
large reserves; capital invested in le-
climate enterprises has brought a fair
return and will continue to do so, and
perhaps best of all, the farmer of
America is more independent than ever
before in our history. After all, how
much we depend upon him! When his
crops are large and prices good, the
merchant, the banker. the mechanic
and the laborer are prosperous, and the
great transportation companies, too,
when he does well, pay dividends and
find their stock increases in value.
'No, T can see no valid reason why
we should be at all pessimistic. The
fact that there is a scarcity of money
in Wall street for speculative purposes
should not cause alarm. 1t is rather
an evidence of sound business judg-
ment that money should be hard to OBJ
tain to finance the large number of en- |
terprises with SO much watered stock |
and fictitious values placed on them.
There may be some failures. Speculat- !
ors in these stocks may lose money.
Some enterprises when the water is
out may collapse. for there all
ways comes a day of reckoning; but
with conditions in our country as they
are, in my Judgment our industrial SUI
premacy has come to stay. If we have
reached the zenith, we surely will re-
main at the top for some time to come"
Pension Recommendations.
ISpringheld Republican
Pension Commissioner Ware may /
prove to be another Evans. He re-
that every pensioner who is
of an infamous crime should /
lose his pension, altho congress in its