The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1907-11-07
M1NoT, n D., THURSDAY, NOV. Z. 1907.
EDITORIAL COMMENT

to drink" This is about the situation all over
the United States at present, only it isn't
water that we refer to, but money, spelled with
capital NJ. Whoever heard of such a condi-
tion OF affairs before? How long is it going to
last and what is the cause of it all? These are
questions asked the Independent editor every
few minutes and we can only make a guess as
to the time that the situation will clear up, and
the business run along in ordinary channels.
Everyone is looking upon the situation in q
calm, conservative manner, and business seems
to be running along smoothly. Naturally, bust
ness will be affected by the situation some but
we all have hopes OF a change coming soon
enough thai this little money furry will soon
be forgotten. Conditions we're never so pros
porous in North Dakota, generally speaking
There's plenty OF work at top notch wages.
We've had fair crop, and until few days
ago, the farmers were able to dispose Of their
flax, oats, wheat, etc., at higher prices than
were known for years. True, the two mills Of
this city are buying wheat now and paying
cash for the same, but cannot buy the farmers
flax. The farmers merely have to be patient
the people they owe must remain patient. and
the wholesale houses that our merchants owe,
must "keep their coats on" and consider that
the condition is the same all over the United
States, and will remain so until enough curr-
ency can be thrown into circulation in the east
to relieve the west
There's clog in the money market, the
New York banks refuse to ship any currency to
the Chicago, Minneapolis and other western
banks, because they have none to spare. The
Minneapolis banks refuse to ship any currency
to the Minot banks, and the Minot banks must
follow suit and hold onto their currency, hop
ing that there will be plenty in sight within a
few days. Elevators find that they cannot OBJ
tain currency to pay for the grain and the
farmers must wait We all must wait. This
condition is not the fault OF the banks at all,
as a matter OF fact the Minot banks have been
making all kinds OF money, and at the same
time have done most conservative business.
One of the bankers said to the Independent ed
itor, ''The people are behaving most admirably
for they are clear thinking and understand
power to hand over all the currency that is on
deposit, they are advising the depositors to
pay Off their bills by means of check which is
being done in all cases. There's absolutely no
danger OF any OF the depositors losing cent
up quite rapidly in the banks, which shows
that the people are not afraid in the least.
Small checks are being cashed all pay checks
are cashed the same as before, but currency is
being handed out sparingly.
The government has come to the rescue
with several millions OF dollars, which has re-
lieved the situation in the east somewhat and
ought to make showing in the west soon
The people in the business world use very little
currency anyway, only seven per cent OF the
business of the country being done with curr-
ency anyway, and % per cent Is done with
checks, drafts, ETC., even in ordinary times.
We can readily see that there is something
radically wrong with our financial system,
which will be remedied at the earliest possible
moment.
za33GGG
John Lang, a Devils Lake janitor, is in Jail
for 20 days for beating his wife,
ssssee
Has No Use For Canada.
VIM. Crowder, prominent Ross farmer
returned from a trip thru the Canadian
North west where he went to look at land, with
the intention of investing some Of his spare
cash. Mr.. Crowder was never SO disgusted with
anv country and .atrrnad hama morn satisHod