Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-09-25
Lauded Before Association as
Leading All Western States
in Wealth and Sanity
NO CROP MOVING PROBLEM NOW
e. II. Scott, Of Cedar Rapids, Delivers
Address Before Bankers Associa-
ton Showing Peerless Iowa's mex
haustible Resources State Exper.
fences Moral Panic.

AlldutlC SIS, AoVRA' "p't=eA' W -
was lauded today as leading all her
western sisters In the wealth of her
citizens and praised as a cen-
ter OF sanity in national
thought. Three thousand dele
gates to the annual convention of the
American Bankers Association dis
cussed Iowa's affairs after hearing
from Il. Fl. Scott of Cedar Rapids, Il
recital of the states progress during
the past year. Mr.. Scott who Is CASH
ier of the Security Savings Bank OF
Cedar Rapids is Iowa's representative
on the vice presidential roll Of the as
sociation.
"The old time annual burden of mov-
ing Iowa's crop is now of minor i'm
portance to her bankers" Mr.. Scott
declared. 'Iowa's 1900 banks control
aggregate deposits of $400, 1000, 900. The
states wealth increased 100000
during the last year. Her citizens pos
sess an average 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 seas
ons is setting the stage for her usual
harvest home festival with better than
an average cast and house that
should be the picture of peace, pros
perity and contentment.
60. r,,s ~t,x.~ t,o
purely 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 rnanufac-
turer 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 hanks is no
longer localized. Their extensions Of
credit outside of the state have as
sumed substantial proportions, includ-
ing commercial paper, collateral loans
and bond investments.
In common with the country at
large said Mr.. Boott, iowa has ex-
perienced normal panic. In many
respects this panic was like our finan-
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
search light of aroused public opinion.
In Iowa, as elsewhere, real imperfec-
tions were magnified and all of the evils
that could be conjured up by ignor-
ance, impulse and an over-wrought
imagination We're charged to 1t uatil
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 competent
men of every political faith recognized
that the wonderful development of our
country and the rapid evolution of
business was creating conditions that
required careful consideration and ad-
justment and it is to be regretted that
the settlement of these new and in.
tricate 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 finar-
cial hysteria which has swept this
country from ocean to ocean but, To-
day she stands conquerer over that
moral weakness with drawn sword of
confidence menacing a second on
slaught."