Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1905-03-30
FARMERS ARE HEAVY O[POSITORS.
Prosperity OF South Dakota AgcuIusts Shown by COnd
ton OF Banking Institutions

There is nothing more encouraging.
ing significant than the sound and
prosperous condition Of the banking
institutions Of South Dakota. Other
states in the West, notably Iowa, have
had many failures in the last few
years, with an attendant train of sui
lcides, prosecutions In courts and SEN
fences to Imprisonment. But there
has been go failure in South Dakota
In the towns Of from $50 to 500 in
habitants throughout the eastern half
of the state there is always one bank
and sometimes two. These are cap
italized at $1,000 &c. SIS, 900. Their de-
posits run from FIVE TO fifteen times
their capital stock, and loans and dis
counts are from four to ten times the
capital. In no small town do business
men have large enough amount of
money outside that tied up in their
business to make up such deposits.
This is proof conclusive that these
heavy deposits come from the farmers.
The banks are managed on broad
and at the same time conservative
basis, and while their finances are
handled with circumspection, economy
and ability, spirit of enterprise and
helpfulness characrerizes their deliber-
atoms and dominates their actions To
such an extent does this sentiment
and disposition prevail that any feast
bic and practicable project presented
by competent and trustworthy men
can be sure of receiving substantial
support and encouragement from
them
A report by the state bank examiner
shows deposits in state and national
banks of South Dakota to have been
over $32,000,00 an increase of over
81, 100000 within year The nation
al banks alone Increased their depos-
! It's from $6,119.427 Jan. !, 1899, to
$12,S97, 270 July /, 1903, an increase OF
over 100 per cent in four years. The
total bank deposits are $7l.10 per cap
lta OF the states population.
The state debt is small, not aggre-
eating 50 per capita. Most of the coun-
ties are out of debt, or at most, small
hoating debt that can be paid at any
time. The annual tax on farm val
ued by its owners at $1,000 as rule
amounts to so or SIS
AS the tide of empire has taken it's
way westward, as the settling up of
the country has extended to the west,
so has the price OF land always risen,
80 it always will rise.
II is so plain that she who runs may
read" that the great tide of immigra-
ton that is pouring into South Dakota
IL bound to rapidly enhance the price
Of lands in the magnificent domain
embraced within the boundaries of
this resourceful state.
Every year the corn crop receives
greater attention.
It is recognized as one Of the safest
surest and most profitable crops grown
In the state.
Better acclimated seed corn and the
retention OF moisture in well cultivat-
cd lands accounts for the constant inn
proyement In the crop.
Sioux Falls is the home of Doane
Robinson, secretary of the State His
torical society, and widely recogniz-
ed authority on matters industrial as
well as historical Mr.. Robinson says:
ITO summarize in a paragraph the
advantages which South Dakota pre-
SCENTS to the homeseeker, IL may be
said that her soil is uniformly fertile,
producing fair returns of all field
crops Indigenous to the Northern
states. Wheat growing is no longer