The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-08-24
LAT Least Simon Cassidy, Big De-
Moines Banker Can't See Any.
thing to Become Pessl-
mistIc Over.
WILL EXPORT BIG SUM
Hawkeye People Have Kept Their
Heads and In Addition Have
Conserved Their
Wallets.

on the contrary iowa VIII Uc sulpPiHS
money to Chicago and New York
within thirty days.
That story doesn't At in with some
rumors and suggestions that have had
circulation. 1t is, however. a serious
prediction by one who is in position
to know.
Unless the trade routes Of the
ocean are opened and an outlet be az
forded for our produce, we are going
to be shipping to the big money cen
tiers, our surplus currency and that
within thirty da~s" enid S'r'"' Cas-.
ady one of the best known bankers OF
Des Moines and Iowa. "The situa-
ton is very simple. The people have
things to sell. The money Is here to
buy with. But 1t will not do to buy
grain and other stuff to store in ele-
vators at terminal points. Unless an
outlet is afforded there will be no.
body buying. The money will accu-
mulate in our hands, and as the big
bankers will need it they will get It..
That is the situation today"
Have Lots OF Currency.
The fact is that the banks Of Iowa
have an abundance Of currency on
hand now. They have not been
pinched for a 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 a great tribute to
the American people," said Mr.. Cas-
ady "They have kept their heads.
They have refused tor 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 perma-
hence of our business fabric.
"How's the situation today? It's
all right, and it has been SO all along.
Except for one day, just one day,
there has not been a ripple on the
surface. On that day two parsons
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 a
debt or draw a draft on Chicago or
do anything except draw out the
gold. He went away and kept still.
But in banking and business circles
in Des Moines all has been well.
No Pressure Expected.
There has been no pressure on the
country bankers. l know for l 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.
At one time the Chicago bankers
sent out word they would not send
any money to Des Moines. Our coun-
try bankers became nervous. told
each of them to send direct to Chi
cago for their money. They did 80
and got the currency. The Chicago
banks would not send dollar to Des
Moines, Dubuque, Sioux City, Cedar
Rapids and other places, but they
would send to the smaller banks of
the state.
mo, we have had no trouble here
at ALL Every man who has been in
the habit Of getting money for bust
ness gets it just as easily now as he
ever did. Our deposits are just fair
average. We have $250,OO0 more to.
day than we had the first day Of this
month. There isn't any money prob
lem in Iowa, and there isn't any crop
problem either. I'VE will be shipping
currency east after while"