Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-08-19
IOWA MONEY FOR EAST
BANKS SOON WILL BE LoANING
SURPLUS FUNDS TO CHICAGO
AND NEW YORK.
NOT OUTLET FOR FARM CROPS
LOCAL DEMAND ELIMINATED
Prominent Des Moines Banker Calls
Attention to Unusual Conditions For
Crop Moving Season-No Pressure
on Country Bankers of state-Busi-
ness Men Being Taken Care Of.

Special TO Times Republican.
Des Moines, Aug. 19.-No currency
famine in Iowa; but on the contrary,
Iowa viii be shipping money to Chi
cago and New York within thirty days,
That story doesn't tit in With some
rumors and suggestions that have had
circula ton 1t is. however, a serious
prediction by one who is in a position
to know.
Unless the trade routes of the ocean
are opened and an outlet be afforded
for our produce we are going to De
shipping TO the big money centers our
surplus currency, and that within thir-
~ days" said Simon Cassidy, one OF
the best known bankers of Des Moines
and Iowa. The situation is very sim
pie. The people have things TO sell
The money is here to buy with. But It
Will not DO to buy grain and other
stuff to store in elevators at terminal
points Unless an outlet is afforded
there viii be nobody buying. The
money Will accumulate on our hands.
and as the big bankers Will need It they
will get it. That is the situation to-
day"
Abundance on Hand.
The fact is that the banks OF Iowa
have an abundance OF currency on
hand now. They have not been pinched
for DAY. There has not been any
urgent demand for money TO be taken
out and boarded. The people have
kept cool no matter what the bankers
have been doing.
The situation IS great tribute 10
the American people said Mr.. Casady.
They have kept their heads. They
have refused TO be stampeded They
have acted more sensibly, I'll have to
confess. than some Of the bankers.
/ They have shown their confidence in
the stability and permanence OF our
business fabric.
"How's the situation today? Its all
right, and il has been so all along,
Except for one day, just one day, there
mas not been a ripple on the surface.
On that day two persons came into the
bank and wanted their money and they
didn't get it. one Of them admitted
he merely wanted it TO take out and
! hoard. We told him he could transfer
/, his account or pay debt or draw {.
! draft on Chicago or do anything ex-
cept draw out the gold. He went
away and kept still. But in BANKING;
and business circles in Des Moines all
has been we'll
t No Pressure on Bankers.
There has been no pressure on the
I country bankers. l know for have
three of those banks. Two of the men
connected with them were in yesterday.
/ One of them said he had been steadily
! increasing his deposits and had more
money than he needs. Al one time the
I Chicago bankers sent out word they
would not send any money to Des
Moines. Our country bankers became
nervous. l told each of my banks to
send direct TO Chicago for their money.
They did so and got the currency. The
/ Chicago banks would send a dollar to
! Des Moines. Dubuque. Sioux City.
7 Cedar Rapids and other places, but
/ they would send to the smaller banks
Of the state.
No, We have had no trouble here a
all. Every man who has been in the
/ habit of getting money for business
I gets il just as easily now as ever ne
( did. our deposits are just a fair aver
/ age. We have $3.50, 600 more today than
/ we had the first day OF this month.
There isn't any money problem in Iowa.
/ and there isn't any crop problem. eth
] er' We will be shipping currency ca -
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