The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1904-09-17
FOLLOWED SHAW'S ADVICE.
Preaching Prosperity and High Prices
Results in Disaster and Sui
eide in Iowa.

Republican prosperity and accom-
panying 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 G. Wood, cashier OF the st. Charles
savings bank st. Charles. Warren county.
Henry c. Spencer and Charles ii. Spencer,
cashier ard assistant cashier OF the First
national bank of Grinnell, Poweshiek
county.
G. F. Utterback, cashier OF the Sigourney
savings bank, Sigourney, 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-
.eemed among the most reliable n
honorable citizens of their community,
and the unfortunate bank officer mad
oeen driven to take his own life after
/ long and hopeless struggle to save
ais institution and restore his credit.
The loss to the depositors and stock
holders of these banks must have been
enormous. foy 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 q sure indication of it.
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 identity
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 see
rotary of the treasury is supposed to
be the Waterman on the tower OF
finance to warn his countrymen and
ave them from danger.
"Watchmen what of the night?"
asked the Iowa farmers. "Alrs we'll"
promptly came from Waterman Shaw.
Thanks to tho beneficent protective
tariff we are on the highest point of
prosperity. Listen to Gov. Cummins
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 iDipregnated with it-listen
10 nlIA. AAs A"iAnoA poShc|oSoh 40
full, he is a capitalist only hunting
for investments, flooding the western
banks with more money than they can
can handle and sending millions to
the east for investment" A 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.
Th~ nigh prices came all right. too
high for the banks and the customers.