The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-12-02
ConcOrdia Banker Says Farmers
Have Invested Unwisely.
Failed to Properly Use Money,
Declares w. M. Peck.
LAST TO CRITICIZE.
Still, He Feels Automobiles Are
an Extravaganza.
Stands for Conservatism That
Would Help Kansans.

wichita, Kan, Dec. THAT the
farmers Of Kansas have been unusu-
ally prosperous but that many of them
nave failed to make a proper invest
ment of their earnings is the opinion
OF W. NJ. Peck, a Concordia banker,
who is in Wichita to attend the meet
ing OF the executive council of the
Kansas Bankers association. Mr.. Peck
just has returned from a ten weeks
trip with his family to the New Eng
land states where he was born and
reared. The trip was made in a motor
car and 5000 miles were travelled in
this manner.
II came into close touch with the
people OF the country there" said Mr..
Peck, land I find that there is a de-
cided feeling of resentment against the
West. We are charged with putting up
prices of grain and meat until they are
almost prOhtbitive. I know men who
have in the past, been able to save
little each year, who told me that they
not only could not save anything now
but they were compelled to encroach
upon the savings of other years in or
der to live. I know that these condi-
tons exist there, and it has set me to
thinking. I have concluded that there
may be some ground for the COM
plants made by these people, for there
is something wrong when the people in
one part of this country, are prosperous
at the expense of the others.
Farmers Remarkably Prosperous.
ut is true that the farmers of Kan
sas in common with those of the west
generally have been remarkably pros
porous in the last few years. 1t is
also true that many of them have
nothing and others conn aratively lit
tie to show for their prosperity, and if
a panic should come they would be in
as bad condition as their neighbors in
the east or as they themselves have
been in tn, PAST. I do not anticipate
a panic, but have become convinced
that the contention now quite general
1y advanced that there must be a grad
ua1 reduction in prices, is well ground
ed and that it is the logical solution
of the problem that faces the people
of this country today.
ST am the last man to criticize the
farmers of this state, for in common
with them, all business has been pros
porous, but it is well enough to con-
slider what has become of the i'm
mense amount of money that has come
into the state by reason of the recent
big crops and high prices. Some have
charged the farmers with extravaganza
in the purchase of automobiles, but
that is not where most of the money
has gone ~
Many Victims of Promoters.
The farmers have been the victims
of promoters of various enterprises.
some good and some bad, but few of
which will ever be profitable to those
who buy stock in them. I know one
such enterprise that has taken more
than two million dollars from the
farmers of Kansas west of Topeka dur
ing the past two years, and I know of
s63O,OO0 of farmers paper sold by one
concern and that will become due
within the next nine months.
'I am not going to name these con-
Germs; that is not my business, but I
am concerned when see this doubtful
investment of millions of money that
ought to be kept at home to form a
surplus against the time when there
is a reduction of prices. should such
a reductfon come. A little conservat-
ism practiced by the farmers of the
west would be a pretty good thing,
and no one would suffer because of it. -