The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-10-22

has amounted to over three and three
quarter billions of dollars. For the sin
gle year 1901 this was 679 million dol.
lars. Although the alarm1sts complain
of a considerable falling off for the year
1902 it was still almost one-half a biz
lion dollars. or about twice as much as
it had ever been in any year of our his
tory previous to 1898. The aggregate
wealth of the country has increases
fully so per cent since 1890. We are
producing and adding to our stock of
gold every year about so millions OF dol
lars, and almost an equal quantity OF
silver The annual value of our farm
products steadily increases and for the
year 1903 it will be at least five billion
dollars. The deposits Of all banks i'll
the United States have increased since
1895 from 1900 millions to 1925 millions,
almost double. The deposits of all banks
in the state of Texas for this same
period have increased from So million
to over 80 million dollars, about 228 per
cent. In the state of Iowa. the increase
has been from rs million to 211 million
dollars, over 21O per cent; in Kansas II
has been from IS million to "a million
dollars, or over $50 per cent; in Ne
braslxa from 80 million to "a million dol
lars, or 22S per cent: in California rom
200 million to 406 million dollars, or 203
per cent. In Oklahoma and Indian Ter
ritory, where. in 1885, the total deposits
were considerably under two million
dollars. there are over 81 million dollars
on deposit in the banks. The aggregate
deposits in all the banks in the states
west of the Mississippi river have IN
creased from 701 in 1895 to LOO million
dollars in 1903. or 242 per cent. The
three states of Minnesota, Iowa and
Missouri have more bank deposits now
than all the states west of the Nissis-
sippi had in 1890. and the states OF
Washington, Oregon and California have
40 million dollars more bank deposits
than all the other states west Of the
Mississippi had in the year 1890.
But it is almost unnecessary to quote
fier1Ira a nd ct al To Won M are he
custodian of the funds and thoroughly
familiar with all the business of your
than you bankers what a great increase
there has been in the wealth and pros
many Of them are out Of debt and haVe
money in your banks who ten years ago
seemed hopelessly buried under burden
of debt they could never pay You of
the south know that the change in south
ern conditions is a revolution, and that
with good crops of corn and cotton your
people are better off today than they have
ever been before. You of the farming
states, the west, the mountains and the
Pacific slope have seen Whole states
which We're apparently bankrupt, where
farms would not sell for the mortgage on
mortgages paid off with the proceeds OF
farms produce in one year crops of
greater value than the land would have
have seen your people pay off their mort,
cages and your bank deposits double and
treble within the last few years.
You of the reserve cities, who are at the
centers of business and commercial life,
have seen equal prosperity among your
merchants and manufacturers. You know
how your country bank customers have
prospered and how their balances have in
creased with YOU how many of them
used to have to borrow of you are COM
peting with you and lending money to
your own city customersi Every state in
the union, every section of the country.
has shared in all this. 1t is no sudden
effervescence or bubble of speculation, but
,4nI ro11 f.f fnr1N
existing and continuing forces. 1t is not
going TO disappear or vanish in day
because of slump in stocks or the col
lapse of a few underwriting syndicates. 1t
may be necessary to pause a little to get
our breath after the pace We have gone,
but if there is any serious check IT will
only be because we have lost our nerve
and courage. The course of business to-
day very large depends upon the bankers.
If the banks continue to act wisely and
conservatively. as they have. they can
avert anything like serious trouble and
keep the country in shape Tor a Gontln-
uance of very prosperous times. In do
ing this, they can perform a most patriotic
service to the country, and. is is usually
the case the patriotic thing to do IS the
wise and sensible business course as Wei
The banks have only to stand by ana LOOK
out for the best interests of their Gus
toners and stockholders. If each DanS
takes care of its own business ana oWi,
people and stands by them now there nee1
be and Will be nothing more serious tnst'A
a period of waiting and perhaps some re-
adjustment of prices which might IN the
end be a good thing for every one Ine
speculations. promotions and com plnatlons
which have run their Wlid course were
caused by and were not me t fseu Ses,. 9t
of the productivity of our nelus anu LOT
ests. our mines and factories. the ire
mendous energy and activity OF our PEG
ple annlied to the most wonderfully pro-
ductive country in the Worid. II snould
not and will not cease because US. Sns specus5
lative attempt to discount the future ana
over capitalize earning power mas met
with foreordained ana lnevleaoie laiiure'