Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1905-03-30
FARMERS ARE HEAVY D[POS|TORS
prosperity OF South Dakota Agrcuurss Shown by Condi.
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
cdes, prosecutions in courts and SEN
fences to imprisonment But there
has been no 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
ltalized at $4,000 to $4,000 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 I'D 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 a broad
and at the same time conservative
basis, and while their finances are
handled with circumspection. economy
and ability, spirit of enterprise and
helpfulness characterizes their deliber-
ations and dominates their actions. To
such an extent does this sentiment
and disposition prevail that any FEAST
BILE 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 $S2,000,000, an increase of over
S11 100000 within a year. The nation
al banks alone increased their depos-
its from $6,119, 427 Jan. /, 1899 to
S12,397,27O July /, 1903, an increase of
over 100 per cent in four years. The
total bank deposits are s711O per cap
ata of the states population.
The state debt is small, not aggre-
eating 50 per capita. Most of the coun-
Eaes are out of debt, or at most, small
floating debt that can be paid at any
time. The annual tax on farm val
ued by it's owners at $4,000 as rule
amounts to $40 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,
so it always will rise.
1t is so plain that che who runs may
read" that the great tide of immigra-
lion that is pouring into South Dakota
is 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.
1t is recognized as one Of the safest,
surest and most profitable crops grown
ii the state.
Better acclimated seed corn and the
retention of moisture in well cultivat-
ed lands accounts for the constant i'm
provement in the crop.
Sioux Falls is the home of Doane
Robinson, secretary of the State His
/ torical society, and widely recognize
ed authority on matters industrial as
well as historical. Mr.. Robinson says
''To summarize in paragraph the
advantages which South Dakota pre-
ssents to the homeseeller, it may be
said that her soil is uniformly fertile,
producing fair returns of all field
zcrops Indigenous to the Northern
states. Wheat growing is no longer a