The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1906-1907, 1907-08-28

Spokane, Wash, Aug, 28.-BAnk-
ers, capitalists, builders and mar-
chants throughout the Inland Empire
comprising 100, 900 square miles in
eastern Washington and Oregon,
northern Idaho, western Montana and
southeastern British Columbia; and,
In fact, throughout the Pacific
Northwest, do not believe a panic
can come to this country over night,
or that the era of prosperity can be
Clipped away by the efforts of indi,
viduals, however strongly they may
be fortified In the financial world.
In justification Of this belief they
point to the enormous general bust
ness, the immense crops from fields
and orchards and the tremendous ac-
tivity Ia all lines of building and
construction work. The Northwest
is exceedingly prosperous, the re.
sources are larger than at any time
in its history, and money is not tight,
and out of these they see a most en-.
couraglng future.
George Farmer Of Spokane, former.
ly United States senator for Washing
ton, who has just returned from an
extended eastern trip, during which
he studied industrial and financial
conditions, said there is not even
the semblance of an excuse for n pan
ic now. adding:
There 10 absolutely nothing In
the general situation to Justify the
predictions frequently made that the
country is to experience a panic.
Undoubtedly the EXPANSION Of bust.
ness has been so great that the lack
of capital may cause q squeeze In
some quarters.
1.-The fact ia recognized that there
lie not sufficient money to supply the
demands of ell business interests, but
apprehend that the money squeeze
will only occur Ia exceptional cases
and will not affect the general bust
ness of the country.
1.-THE business conditions in the
Northwest look exceedingly bright
and ] don't think any business disas-
ters which may possibly occur In
the east wall affect us at all. We are
on solid financial basis here.
Crops are bountiful, our banks are
in fine condition and it 10 more than
probable that we shall not suffer
from financial troubles which may or
iginate from specuiations In Wall
stI eet. -
ID. NJ. Drumheller, a millionaire
pioneer of the Spokane country, who
went through the panic of 1893 and
several hard times periods earlier, de
clares there IL no cause for alarm In
the Northwest, and that, he said APP
plies to the middle western. eastern
and southern states az we'll. lie adj
ded
more than S4O, 900, 900 will be
paid to the farmers in the district
tributary to Spokane at the end OF
the harvest and millions more will
be In the hands of orchardists and
wool and stock growers. Our lum
Der and mineral industries are -four
ishinR and the banks have plenty OF
ready cash. do not see how hard
times can come when the people are
practically out OF debt. There lie
work enough for all at good wages, In
fact, thousands of men In all lines are
needed in the Northwest. The
wholesale and jobbing trade show an
unusually active spirit and there are
increases all along the line. Our
markets are broadening, and this is
indeed promising outlook. g"
Aron Kuhn, president Of the Trad
srs' National bank, speaking for the
allied financial institutions Of SpUk.
ane. declares that despite the oCOas-
ional rumors from the east Of hard
times, there is absolutely nothing to
justify the fears Of the pessimists,
addidg
1T is nonsense to ak Of a panic
or nf hard times. The Northwest is
In a most hourisbing condition. In
Spokane the banks have been steadily
gaining in the volume Of business
done and In cash reserves. Business
in all branches is fourishing and
the outlook is decidedly bright
Everywhere there is a healthy under
tone and there lie absolutely nothing
on which to predict even the fear Of 3
panic. -
As general proposition the fnan-
oinl disaster predicted by John d.
Rockefeller and a few Others, a. 4