Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1907-10-02
WEALTH OF lowA's CITIZENS.

| Iowa was lauded as leading all hel
western sisters, in the wealth Of hel
citizens end praised as q center Of
sanity in national thought, at the re.
cent bankers convention at Atlantic
Oity, N. ]. Three thousand delegates
70 the annual convention Of the
American Bankers Association dis
cussed Iowa's affairs. hearing from B.
n. SCOTT of Cedar Rapids q recital Of
the states progress during the past
year. Mr.. Scott. who is the cashier
Fof the Security Saving Bank Of
Cedar Rapids. was Iowa's representa-
tive on the vice presidential roll Of the
association.
The old time annual burden Of
moving Iowa's crop is now Of minor
Importance to her bankers MI. Scott
declared. "Iowa's 1850 bankers con-
tOl aggregate deposits Of four hun.
dred million dollars. The state g
aalth increased $50. 600. 900 during
the last year. Her citizens possess an
average Of o200 per capita.
Iowa continues prosperous. That
garden spot of our country has long
since proved her supremacy over
draughts and floods, hot winds and
frost, and In the closing weeks OF one
Of our most eccentric climatic seasons
= setting the stage fer her usual har-
vest home festival with better than
average cast and q house that should
Be the picture Of peace, prosperity and
contentment.
She is fast emerging from the pure
~ agricultural state Of few years
ago. Her people are reaching ont
into nearly all lines Of investment
and business known to the nation at
large. She has entered the field Of
manufacture in many lines and Ter
factories are increasing their output
and growing stronger. All these con-
ditions have brought new problems to
IowA's bankers.
Tho business Of Iowa's bankers is
no longer localized. Their extensions
Of credit outside Of the state have as.
sumed substantial proportions, includ-
inR commercial paper, collateral loans
and bond investments.
In common with the country at
large. Iowa has experienced q moral
panic, In many respects this panic
was like our financial panics Of the
fast. This was not wholly without
reason, for serions. crimes had been
comitted in high finance.
AS result Of these crimes the en-
tire currency Of human character and
business morals was brought under
the search light of aroused public
opinion. In Iowa. as elsewhere. real
imperfections were magnited and all
the evils that could be conjured up by
ignorance. impulse and overwrought
imagination were charged to it until
timid ones began to throw to the
winds that priceless bond. confidence.
in our institutions and our fellow
men.
Band wagon reforms were the order
of the day and quiet silver common
sense had all it could do to keep the
band wagon in the middle Of the road
and prevent catastrophe
Iowa's people are sensible people.
Among them thoughtful and COM
potent men Of every political faith
recognized that the wonderful de-
velopment Of our country and the
rapid evolution Of business was GREAT
ing conditions that required careful
consideration and adjustment and it
is to be regretted that the settlement
Of these new and intricate problems
could not have been accomplished on
their own merits.
But the panic Is over and today
Iowa is thoughtful and calm in the
contemplation Of her responsibilities.
Iowa has suffered with the rest Of
the states in the Union from the
financial hysteria which has swept
this country from ocean to ocean but
today she stands conqueror over that
moral weakness with drawn sword
~ rou lx3ouro v,nouao;un = coo0nd ~,