Cañon City record., 1907-11-21

farmers who are as nearly Independent
as men can be. But even they are
dependent on other people because the
high prices for farm products can only
be paid when times are prosperous
and when wages are high.
"The natural result OF this currency
famine will lead men to invest in real
estate and in mines in the new and
prosperous states like Colorado. 1t
will lead all our own people to invest
in stock companies at home which
are managed by men of judgment and
integrity and in real estate at home.
We may look for an active real estate
market and for an active market for
mines. Surely western men will hesi-
tate about investments which are far
from home, but will be disposed to
make investments at home which give
promise Of reasonable returns. We may
expect to see an activity in real estate
here in Colorado because real estate
values in all other states are much
higher than they are here. When con-
trasts are made with any other COM
munities we always find that our Colo
RADIO people have been disposed to
make conservative estimates of values.
Down in Kansas I saw land at $40
an acre which produces profit OF 81
an acre in wheat. The thrifty farmer
said that all the people in his locality
were very we'll satisfied II they could
secure a profit of 81 an acre on wheat
from land which was valued at $40 an
acre. On that basis the annual profit
is one sixth the value of the land If
we were to estimate our lands in Col
orado on that basis, it Is perfectly evil
dent that everything is estimated at
so per cent of its value. Land which
produces a profit of $50 per acre in
beets should be valued at $3.50 per acre
on the basis of the values in Kansas.
Even our fruit land in the best sec
tions at from 81 900 to $4,000 per acre
may be said to be estimated In a con-
servative way because that land will
occasionally produce $1,000 worth of
fruit In single year.
This financial furry should impress
every working man with the necessity
of owning his own home. When he
owns his own home and does not have
to pay rent, he can come to a period
of currency famine without any en-
barrasEment.
Il do not think people have suffi-
GENTLY considered the fact that this
furry is a tribute to the integrity of
the financial leaders in the big banks
and trust companies. When Heinze
and Thomas and Morse and Barney
were considered by their associates
in Wall street to be using the bank
funds committed to their care for
speculative purposes, they were in
stantly required to resign. That action
of their associates required some cour-
age and it discloses the fact that these
associates would not be parties to any
unbusinesslike methods. 1t was just
a bit of house cleaning in these finan-
cial institutions. 1t should awaken
confidence rather than distrust. 1t is
doubtless true that all banks are
managed now with more punctilious
fidelity than ever before. In earlier
times banks were more Influenced by
friendships to make loans on made
quate security, but now the banking
business Is conducted without senti-
ment.
can business men going up stairs
three steps at time, who slips back
a step now and then. but he reaches
the top just the same. Legitimate bank
ing and legitimate business proposes
to go up stairs one step at time with
out any slipping back at all. A group
of New York men who wished to go
three steps at time have now been
eliminated from the control OF the
banks and trust companies with which
they were connected. This I say should
inspire confidence rather than distrust.
For years past certain types OF
and magazines and GER
tain perfervid public speakers have
shown a most resolute purpose to
create prejudice in the minds OF the
plain people against merchants and
bankers and public officials. Men in
public life and men who are engaged
in the banking business have been
has been exhausted. But now for a
few weeks this fountain of abuse has
been choked up and we are now find
ing out that the people do not believe
this wholesale slander, but that the
people believe In the integrity OF our
bankers and our business people and
our public servants.
I'VE need in these times to cultivate
a state wide enthusiasm for Colorado.
In some localities we find a disposition
to think Of local prosperity as not