Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1904-09-23
Shaw q False Prophet.

Republican prosperity and dcconpa-
nying high prices that Secretary Shaw
thinks are so prevalent and that he says
are theresultO Of Repubiicanpolicies have
a disastrous eject III Iowa. When bust
ness is good and people are prosperous
II would naturally he expected that the
banks would participate III 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
LOpelcSsly insolyent. y press report
from Sioux City, published in the
Washington Times on Aug. -, enumcr-
ates the grewsome list.
The dispatch adds that five Of these
bankers 'bley out their brains and
two committed suicide by drowning"
In every ease the men had been esteem
ed among the most reliable ami hOnOra-
bic citizens of their community, and the
unfortunate. LINK officer had been driv-
en- to take lr!s-own life after long and
hopeless struggle 10 save his iustitu-
ton and restore his credit.
The loss 10 the dcpositors and stock
holders Of these banks must have been
enormous, for we are told that all the
banks have been found upon exami-
nution to be hupelcssly insOlvent.' Yet
Secretary Shaw pratcS of prosperity
and points to present high prices as IL
sure Indication of il.
Now, Shaw before he became Secreta-
ry of the treasury was Il small banker
and. being acquainted all over the state
of Iowa. lie must have known the gen
cral condition of the banks and their
unSOuudncSS. 1t was known in Wall
street, ii was 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 dcluded victims, the farmers
and business men of Iowa. of what
might be expected. The secretary of
the treasury is supposed 10 be the
wutchmau on the tower Of finance TO
warn his countrymen and save them
from danger.
"Watchman, what of the night?"
asked the iowa farmers. AIS We'll"
promptly came from Waterman Shaw.
tariff. we are on the highest point of
prosperity. Listen to Governor Cum
Minis ana 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 impre%nated with il. Listen
to him: The farmers pocketbook is
full. He is Il capitalist only hunting
for investments. flooding the western
banks with more money than they can
handle and sending millions to the east
for Investment" y good many Iowa
farmers must now wish they had sent
all their millions to the east instead of
flooding the western banks with their
hard earned money.
The high prices came all right. too
high for the bankers and their custom
ers. Instead of prosperity came disas-
ter. The tariff fostCred high prices,
begot extravaganza and speculation.
Lands advanced to uuhcard of prices.
far beyond their true value. where it
was impossible for the owner to pro-
hlitt iLpuEl ~ pay tiiltltNl Ou bLlt III
vcStmcnts. The banks under Shaw's
celebrating promise OF continued high
prices loaned to the land and stock
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 is
still talking high prices and prosperity
and is. as the leading member of RoOSe-
velt'S cabinet, to stump the country for
the Republican ticket. Stand pat is his
slogan, and prices Will still advance
and the Republican tariff is panic
proof. All the voters have to do IS to
let we'll enough alone'-that is, vote
the Republican ticket. Fools rush in
where angels fear to tRead. and Shaw
is TO rush seventy-five speeches at the
poor dupeS that will listen 10 his vapOr-
ingS. and other bankers viii speculate
until the inevitable comes If Shaw is
followed.