The Oskaloosa herald., 1907-09-26
IOWA LEADS THE
WESTERN STATES
MORE WEALTH PER CAPITA THAN
ANY OF HER NEIGHBoRs.
IS ALSO CENTER OF SANITY.
While Band-Wagon Reformers Are
the Order Of the Day, the Hard
Headed Majority Has Pre-
vented Catastrophe.

Atlantic City, N. j., Sept. 25.--Iowa
was lauded today as leading all her
western sisters in the wealth OF her
citizens, and praised as center of
sanity in national thought. Three
thousand delegates to the annual con-
vention of the American Bankers AS
sociation discussed Iowa's affairs after
hearing from E. N. Scott, of Cedar
Rapids. a recital of the states progress
during the past year. Mr. Scott, who
is cashier of the Security Savings
Bank of Cedar Rapids, is Iowas repre-
sentative on the vice-presidential roll
of the association.
THE old time annual burden of NOV
ing Iowa's crop is now of minor i'm
portance to her bankers" Mr.Scott de-
clared. "Iowas 1900 banks control
aggregate deposits of four hundred
million dollars. The states wealth in
creased $50,000,000 during the last
year Her citizens possess an aver
age of 5000 per capita.
Iowa continues prosperous. That
garden spot, OF our country has long
since proved her supremacy over
droughts and floods, hot winds and
frost, and, in the closing weeks of
one of our most eccentric climatic sea-
sons is setting the stage for her usual
harvest home festival with better than
an average cast and a house that
should be the picture of peace, pros
perity and contentment.
''She is fast emerging from the pure
ly agricultural state Of few years
ago. Her people are reaching out into
nearly all lines of investment and
business known to the nation at large.
She has entered the field of manufac-
ture in many lines and her factories
are Increasing their output and grow
ing stronger. All these conditions
have brought new problems to Iowa's
bankers.
"The business Of Iowa's banks is no
longer localized. Their extensions of
credit outside of the state have as
sumed substantial proportions, includ-
and bond investments.
!tIn common with the country at
large" said Mr.. Scott, Iowa has ex-
perienced moral panic. In many
respects this panic was like our flnan-
cial panics of the past. This was not
wholly without reason, for serious
crimes had been committed in high
finance.
"As result of these crimes the en-
tire currency of human character and
business morals was brought under
the searchlight of aroused public opin-
ion In Iowa, as elsewhere, real i'm
perfections were magnified and all of
the evils that could be conjured up by
ignorance, impulse and an over.wrought
imagination were charged to it until
timid ones began to throw to the
winds that priceless bond--contidence
In our institutions and our fellow men.
S"Band wagon reforms were the or
der of the day and quiet silver COM
mon 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 compe,
tent men of every political faith recog-
nized that the wonderful development
of our country and the rapid evolution
of business was creating 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.
s"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 finan-
cial hysteria which has swept this
country from ocean to ocean, but to-
day she stands conqueror over that
moral weakness with drawn sword
Of confidence menacing second on
slaught"