Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-09-06
[srs s1op THIS LAND SPECULATION.

ma The editor of the T.-R. had the mis-
3orsune this week to be drafted 10 serve
h local committee that was soliciting
z Subscriptions to public enterprise. In
going the rounds usually followed py
Inch hold-up committees he was struck
1 sth surprise to find in more than one
Il Instance men, who are always ready
S3snd willing to contribute, actually un-
Skble at this time to offer single penny.
#.plow. boys, you know I am always
LIN YOU. but this time, I tell you, I'm
I'm another deal: not my profession. not
Inv regular business. but an outside
Heal, and just can't raise another
lent" was the common reply. When
q 4 is<sssed for an explanation it was
s e.rned that said citizen was loaded
y Hown with an immense speculation IN
Alorthern lands. So often did the same
sleondition arise where least expected
4 THAT we were prompted to discuss the
sShject with our banker friends.
While the banks in Marshalltown
Have not felt the demand for money TO
be used in land speculation to any very
great extent, they know of smaller cor
which are feeling this
3drain upon their loanable funds. SO
4general has this demand been that Chi
Srago banks have begun to send out
herfes to their country correspondents
N ascertain how much the land craze
has eaten into the small bank reserves
md In very many cases the replies in
aicate that the demand has been heavy.
Here in Marshalltown and immediate
&icinity the banks are now experiencing
r. strong demand for money from the
Neders. The prospect of cheap corn or
Waft corn and the extremely high price
&Ip cattle has induced very general
N5ivity among feeders and one bank
bne in this city accommodated local
aders to the extent of $4,000 during
one week just passed.
d,hese conditions are going to make
&Eht money market this fall and win
E. Land spectators should remem-
- this and not load up too heavily.
fenry Clews observes upon this point
hat
sEven prosperity brings its dangers,
hhief OF these being overzealous spec
flation and unsound financiering. for
Hhich there is need Of restraint There
,lr d,,H ny
#ealth- producing schemes, and the
Sablic has been so well warned by
Aputable bankers and the press that
Heir continued creation ought to be-
>u,e more difiicult. Doubling and
s4ling capitalization without in any
adding to the intrinsic value of
berty is bad business; so is piling up
I'D obligations which can only be met
4 HAer unusual prosperity. Instances of
NAdeparture from sound finance could
lily be multiplied, but there is no
sAaon for undue pessimism. tho it is |
z # II folly to ignore the cautionary sig
s4i which are plainly visible. The
sH means of maintaining prosperity
IL t8 heed such warnings and be pre-
Earesd to shorten sail promptly"
wThe Times Republican is not in the
Abi& of viewing the future with alarm,
\ At there are too many tendencies of
"a HINES which, IL left unrestrained,
kn bring disaster to permit us to re-
Aiu from words Of warning. 1t is true
b key to the situation is in the crop
aalts and the harvest now promises
DE one of abundance in all parts of
country. Hard times can't come
,9 anediately, but times have been too
"a OF late, too good to last, and 1t is
craze for speculation and over
salization that is going to bring
Ter upon all legitimate and con-
live business sooner or later. III
primer could be checked before a
successive crop failures paralyzel