Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-10-31
Takes KINDLY 70 P[AN
General Public Of Iowa Not Dis
turbed BY Doing Business
With Checks and Drafts
ONLY 4 FEW ARE SCARED.
Eight Millions Of Iowa Money on De-
post in Eastern Banks-Not all the
Banks Have Their Funds Tied Up
Temporarily-The National Guard
and the Government.
Special to rimes-Republican.

Special to Times-Republican-
Des Moines, Oct Silt is now prac-
tically assured that the public takes
kindly to the cashiers checks, clearing
house certificates and drafts, and has
quickly adjusted itself to new condf-
tions with but very little friction or
Inconvenience. A diligent inquiry and
investigation has failed to discover
but an insignificantly small per cent
of the people who view with any alarm
the present conditions or who feel that
there is going to be hard times. Bank
ers and public officials might be ex-
cused for forcing themselves to say
in newspaper interviews against their
better Judgment that everything IS
all right and that there are no Signs
of hard times and continued money
/ stringency. Laboring men and ordinary
citizens have no reason to speak any
thing but their actual feelings. in the
matter, but. the per cent OF them VINO
think that hard times are coming as
result Of the present furry is so small
that it is not worth considering.
Bankers and financiers have been say
ing that the attitude of the pubic IN
the matter will determine the actuai
conditions.
The belief that the present diff
culties will soon be over with and that
banks will soon begin to pay out cash
as before, does not, however, prevent
the public from some criticism OF the
banks for their share in the present
difficulties and the banks are getting
all the criticism that is coming to them.
The banks down in New YORK are
criticized for loaning money to Heinze
and other wild cat spectators. with
the claim that that sort of thing is
responsible for the present difficulties
that have come upon the country.
Bankers in Iowa are being criticized
with considerable show of justification,
for having been altogether too anxious
to rush their money down east in anx-
iety to get the high rates of interest
prevailing on short time loans and call
money.
There are $s,O00,O0O of Des Moines
money on deposit and loaned out to
eastern banks. According to Des
Moines bankers and others, too, the
necessity for putting Iowa on a check
ing basis is all due to the fact that
the New York and Chicago banks went
to a check basis and wouldn't let the
Iowa banks draw out their deposits.|
BY the same line of argument If Des
Moines and Iowa banks had had no
deposits in the east to draw out they
would not have had to go to check
ing basis.
The Des Moines banks are probably
in the state. In Des Moines there was
about 81 100000 cash on hand Saturday
night and the deposits of the Des
Moines banks makes total of about
$50, 100000. The cash on hand was 81
per cent of the deposits. Anxiety to
gst high rates of interest no doubt
partly at least accounts for this. Not
all the banks In Iowa sentsmoney east.
and not all Of the banks Of the state
sent money east. In fact there are a
few instances that are learned of
where. as soon as difficulties We're
threatened the bankers drew out all
the money they had on deposit in
the eastern banks and locked it up in
their own vaults.
There is little use, to lock the barn
doors after the horses are all stolen,
and when Iowa bankers were caught
with large deposits in eastern banks
the only thing they could do was to
IL, Thair
ton is practical guarantee that there
will be no runs started and where ever
there is clearing house association
the fidelity and resources of all the
banks stand back Of each of the banks
so that there is practical surety that
there are no banks that are going to
"bust."
1t is the confident belief of those well
informed that inside of a short time
the New York. banks will have enough
money imported from abroad and in
their vaults that they can resume bus
mess on the old order OF things and as
soon as this Is done the banks In the
west will do the same thing. The west.
ern banks may even be able to take
the lead in the matter.
National Guard men are giving con-
siderable thought to the conditions in
the state OF New York in the National
Guard. The New York guard was
found to be recruited far in advance Of
the maximum limit. The limit is about
60 men to q company and the New
York guard had more than 100 to the
company. Under the authorities said
to have been conferred upon him by
the Dick bill the war department Sec
rotary ordered the New York guard
to reduce it's companies to the maxi
mum and scatter the companies out
over the state instead of concentrat-
ing the companies into the large cities.
New York has adopted the policy OF
erecting regimental armories in the
large cities aind recruiting regiment
in the city. The forces generally are
concentrated into the big centers.
Instead of obeying the orders of the
war department New York said some
unpleasant things about doing as they
pleased and informed the war depart
ment that if it didn't like it it could
keep the New York share of the ST.
100000 appropriated for the benefit OF
the national guard under the Dick bill.
New York gets larger share ofthe APP
preparation than any other state since
the appropriation is divided according
to the number OF congressman and
senator's each state has. New York
finds that it Is more economical to
lose the big appropriation than to
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