The herald-advance. (Milbank, S.D.) 1890-1922, 1905-03-31
FARMERS ARE HEAVY DEPOSTORS
Prosperity Of South Dakota Agriculturists Shown by Condi.
ton OF Banking Institutions.

There Is nothing more encouraging
ing significant than the sOund n
prosperous condition of the banking
institutions of South Dakota. Other
states in the West, notably Iowa, have
had la failures in the last few
yeazG, with an attendant train of sui
cides, 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
italized at s., 200 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 a 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 a broad
and at the same time conservative
basis, and while their finances are
handled with ci~rcumspection, economy
and ability, a spirit of enterprise and
helpfulness characterizes their deliber-
atoms and dominates their actions. To
such an extent does this sentiment
and disposition prevail that any feast
Die and practicable project presented
by competent and trustworthy men
q 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 1872, 000, 900, an increase Of over
$11, 600. 900 within a year. The nation
al banks alone increased their depOs-
its from $6,119,427 Jan. /, 1899, to
$12,397,270 July 1, 1903. an increase of
e 100 per zen in four years. The
total bank deposits are $40 per cap
ita Of the states population.
The state debt is small, not aggre-
eating 81 per capita. Most of the oun
ties are out of debt, or at most, a small
floating debt that can be paid at any
NihiS. ~ 1hh va q al
ued by it's owners at 5000 as a rule
amounts to $10Sor SIS.
AS the tide of empire has taken its
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 run may
rca1' that tho oroat tide of hmm pra-
tion 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 tate.
Every year the corn crop receives
greater attention.
1t 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 we'll 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 a 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, it 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 a