Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1904-09-16
FOLLOWED SUAH's ADVICE.

lSepobil'an prosperity ana accom-
panying high prices that Secretary
Shaw thinks are so prevalent and that
he says nre the result OF Republican
policies have had Il disastrous effect
in Iowa. When business is good and
pc pple are prosperous it would natu.
rally he expected that the banks would
participate III tho prosperity but III
Iowa it seems to he the reverse.
that state during the past seven months.
and all their banks have been found,
upon examination, to be hopelessly III
solvent. y press report from Sioux
City, published i'll the Washington
Times, cnumcratcs the grucsome list:
-llarry Mayne, cashier OF the Bank Of
Lynn Grove, Buena Vista county.
George d. Wood. president OF the First
national bank, Of Colfax, Jasper county.
Frank l.. La Rue. president Of the
Corning state savings bank.
George G. Wood, cashier Of the ST.
Charles savings bank, st. Charles, war
rem county.
Henry e. Spencer and Charles II.
the First national busk Of GrinueIl
Poweshick county.
G.. +. Uttcrback, cashier OF the Sig
Quincy savings bank, Sigourney, Keokuk
county"
The dispatch adds TINT five OF these
bankers "blew Out their brains" and
two committed suicide by drowning"
In every case the men had been es-
tccmcd among the most reliable and
honorable citizens in their community,
and the unfortunate bank officer had
been driven to take his own life after
n long aud hopeless struggle to- save
his institution and restore his credit.
The loss to the depositors and stock.
ho!iers Of these banks must have been
enormous, for We are told that all the
banks Ahave been found, upon Il.
nation, 20 be hope!essly %insolvcnt.-
Yet, Secretary Shaw pratcs Of pros.
perity aud points to present high prices
rs "A SIRE indication Of it.
Now Shaw, before he became Sccro.
tary Of the Treasury, WIS a small banker
md being acquainted all over the state
Of Iowa he must has known the general
condition ofthe banks and their nm.
sOundncss. II was known in Wall
street, 1t wa known 10y Dun and rad
street, but SHAY "vi icUiiy did not
know wlRt WIS gong "n, or IL he did
feared to "hurt the party" by warning
the poor deludcd victims, the farmers
aud business mcn of Iowa, Of what
NIGH, he expected. The Secretary Of
the rcnsury is supposed to be the
"atchman on tn" tower ~ finance to
warn his country e and save them
from danger.
""atcbmcn what Of the nightY7
asIcd the Iowa farmers. AIS we'll
promptly came from Waterman Shaw.
Thanks TO the bencticent protective
thrill wc arc m tho highest point OF
prosperity. Listen to Gov Cummina
and the apostles ~ the "lnwn idea and
you will ave trouble. but follow mo
aud you will have high prices md proc.
pcrity."
Secretary ~ agriculture Wilson il
another member of Iiuoscvcit'e cabinet
vito IL another huDmcr-,hc whole
hrOoi ar" "imprcunntCd with it--liston
Ia him "Ihr farmers pockctbouk ia
full. hr Is u capitalist only hunting 'or
Investments. flooding the Western
brmks with NOR" money than they can
handle aud acnhiug milli0nG Ia tho cnst
Tor investment \ gund mnuy Iowa
farmers must now wish they hnI cont
all their mIllioua Ia tho cnst instead of
i~lup"inR the western banks with their
hari.carnci money.
Tho high prices came all right, i"n
high Tor the baDks and the customers.
Inst1nd Of prosperity chtnc disnstcr.
Tho tariiT fOs'ctCd high prices bcg0t
cXtrnvHgnnc" and speculation. Lands
advanced /" unbCad 81 prices. Tar be-
!nrd thcir true vnlu". where II ww i'm.
poEgiblo for the owner to produce enough
/" pay interest on tho invcsimonis The