Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1904-09-08
SHAW'S ADVICE FOLLOWED.
Preaching Prosperity and High Prices
Results in Disaster and Sui
eide in Iowa..

Republican prosperity and accom-
)anying high prices that Secretary
Shaw thinks are so prevalent and that
he says are the result of republican
policies have had a disastrous effect
in Iowa. When business is good and
people are prosperous it would natu-
rally be expected that the banks
would participate in the prosperity.
but in Iowa it seems to be the re.
verse. Seven bankers have taken
their lives in that state during the
past seven months, and all their banks
have been found, upon examination, to
be hopelessly insolvent. A press re-
port from Sioux City, published in the
Washington Times, enumerates the
gruesome list:
Harry 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 Corn
ing state savings bank
George C. Wood, cashier of the st. Charles
savings bank. st. Charles, Warren county.
Henry G. Spencer and Charles II. Spencer,
cashier and assistant cashier of the First
national bank of Grinnell, Poweshiek
county.
G. F. Utterback, cashier of the %Sigourney
savings bank. sigonrney, keokuk county.
The dispatch adds that five of these
bankers "blew out their brains and
two committed suicide by drowning"
In every case the men had been es-
too~,nJ oroop~ thu vonct | h1a an6
honorable citizens of their community,
and the unfortunate bank officer mad
been driven to take his own life after
a long and hopeless struggle to save
mis- institution and restore his credit.
The loss to the depositors andsstock-
holders of these banks must have been
enormous, for we are told that all the
banks "have been found, upon exam
nation, to be hopelessly insolvent, >
Yet, Secretary Shaw pirates of pros
perity and points to present high
prices as a sure indication of 1t.
Now Shaw, before he became secre-
tary of the treasury, was a small
banker, and being acquainted all over
the state of Iowa he must have known
the general condition of the banks
and their unsoundness. 1t was known
in Wall street, it was known by Dun
and Bradstreet, but Shaw evidently
did not know what was going on, or
II he did, feared 10 "hurt the party
by warning the poor deluded victims,
the farmers and business men of Iowa,
80 xx,bnt ,nioht hn nvpoatad Tho Coo
rotary of the treasury is supposed to
be the Waterman on the tower OF
finance to warn his countrymen and
save them from danger.
"Watchmen what of the night?'
asked the Iowa farmers. "All's WE'LL
promptly came from Waterman Shaw.
Thanks to the benet1cent protective
tariff we are on the highest point oil
prosperity. Listen to Gov. Cummins
and the apostles eff the iowa idea
and you will have trouble, but follow
me and you will hive high prices and
prosperity"
Va Secretary Of Agriculture Wilson is
another member Of Roosevelt's cabinet
who is another boomer-the whols
brood are impregnated with it-lister
to him: THE farmers pocketbook il
full, he is a capitalist only hunting
for Investments, flooding the western
banks with more money than they car
can handle and sending millions tt
the east for investment" A goot
many Iowa farmers must now wisl
they had sent all their millions to tht
east instead of flooding the western
banks with their hard-earned money.
The high prices anne all right, TOT
high for the banks and the customers
Instead of prosperity came disaster
The tariff fostered high prices, bego
extravaganza and speculation. Land
advanced to unheard of prices, far be
i yond their true value, whore 1t wa
impossible for the owner to produc
enough'to pay interest or the invest
ments. The banks under Shaw's ex
h~ilarating promise of continued higl
prices loaned to the land and stool
spectators on boom estimates Of val
Q and those that are able are still
paying interest. Other bankers specu
lated with their customers money
some Of them have paid the forfeit
with their lives. Secretary Shaw !
still talking high prices and prospect
ty and Is, al the leading member Q
1Sc6evslt'sS cabinet, to stump tn
country for the republican ticket
Stand pat Is his slogan and prices vii
still advance and the republican tart
is panic proof, all you voters have I
do is to '1et well enough alpne"-tha
is vote the republican ticket. Dolla
wheat and 60-cent corn is the resul
Of the benefcent republican policy
Fools rush in where angels fear t
tread and Shaw is to rush rs speeche
at the poor dupes who will listen t
his yaporings, and other bankers vii
speculate until the inevitable comes.
Shaw In followed.