Courier Democrat., 1904-09-08

SHAW 4 FALSE PROPHET
Preaching Prosperity Results In
Dire Disaster In Iowa.

Preaching Prosperity Results In
Dire Disaster In Iowa.
HIGH PRICES AND BANK FAILURES
Waterman ON the Tower of Finance
Failed to Warn His Countrymen of
impending Danger - Deludcd vic-
Tins Paid Forfeit With Their Lives.
Republican prosperity and accompa
nying high prices that Secretary Shaw
thinks are so prevalent and that he says
are the result of Republican policies have
q disastrous effect in Iowa. When busi-
ness is good and people are prosperous
it would naturally he expected that the
banks would participate in the pros
perity, but in Iowa it seems to be the
reverse. 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 report
from Sioux City, published In the
Washington Times on Aug. Is, enumer-
ates the grewsome list.
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 esteem
ed among the most reliable and honora-
BILE citizens of their community, and the
unfortunate bank officer had been driv-
en- to take his own life after long and
hopeless struggle to save his institu-
ton and restore his credit.
The loss to the depositors and stock
holders of these banks must have been
enormous, for we are told that all the
banks "have been found upon exami-
nation to be hopelessly insolvent." Yet
Secretary Shaw prates of prosperity
and points to present high prices as a
sure indication of it.
Now, Shaw before he became secreta-
ry of the treasury was small banker,
and, being acquainted all over the state
of Iowa, he must have known the gen.
eral condition Of the banks and their
unsoundness. 1t was known in Wall
street, twas known by Dun's and Brad
streets, but Shaw evidently did not
know what was going on, or If he did
feared to "hurt the party by warning
the poor deluded victims, the farmers
and business men of Iowa, Of what
might be expected. The secretary of
the treasury is supposed to be the
Watchman on the tower of finance to
warn his countrymen and save them
from danger.
"Watchman, what of the night?'
asked the Iowa farmers. "All's WE'LL
promptly came from Watchnan Shaw.
Thanks to the beneficent protective
tariff, we are on the highest point OF
prosperity. Listen to Governor Cum.
Minis and the apostles Of the Iowa
idea and you will have trouble, but
follow me and you will have high
prices and prosperity"
Secretary Of Agriculture Wilson is
another member of Roosevelt's cabinet
who is another boomer. The whole
brood are impregnated with it. Listen
to him: 1.-The farmers pocketbook is
full. He is capitalist only hunting
for investments, flooding the western
banks with more money than they car
handle and sending millions to the east
| for Investment" A good many lows
farmers must now wish they had sem
| o1l %1,Di~ 70 fHo oS,< NJ
flooding the western banks with theil
hard earned money.
The high prices came all right, toe
high for the bankers and their custom
ers. Instead Of prosperity came disas
ter. The tariff fostered high prices
begot extravagance and speculation
Lands advanced to unheard Of prices
far beyond their true value. where il
was impossible for the owner to pro
duce enough to pay interest Oh the in
vestments. The banks under Shaw's
exhilarating promise Of continued higl
prices loaned to the land and stocl
spectators on boom estimates of val
ues, 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 i.
still talking high prices and prosperity
and Is, as the leading member of Roose
velts cabinet, to stump the country fo
the Republican ticket Stand pat is hi!
slogan, and prices will still advance
and the Republican tariff is panic
proof. All the voters have to do is II
''let well enough alone'-that is, vot.
the Republican ticket Fools rush IL
where angels fear to tread, and Shaw
is to rush seventy-five speeches at tn,
poor dupes that will listen to his vapor
ings, and other bankers will speculate
until the inevitable comes If Shaw /.
followed.
The Great Ego Causes Distrust.
There is no denying the fact that tht
president Of nation such as ours, will
r.