Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1920-12-17
MODERN HARPIES

Harpies were NEUROLOGICAL mon
sters described as having the faces
of women and the bodies of enor-
nous birds, with long talons They
were known as spoilers, because of
their destructive proclivities and
their enjoyment of causing misery.
Some people have the instincts, il
not the appearance, of harpies. In
times of financial stress they go
about starting and spreading rumors
that some bank is shally or some
merchant is about TO fail. 1t matters
not to them whether such rumors
have any foundation in fact or how
much damage the circulation of them
may cause. They seem to delight in
prophesying calamity and in under
mining the financial reputation OF
business institutions and individuals
by whispering stories about their in
solvent condition.
With them almost invariably the
wish is father to the thought" and
Il they have a grudge or a real or
fancied grievance against anyone,
they do not hesitate to spread any
thing they may hear or imagine
which is derogatory to the financial
standing of that person.
In ordinary times these modern
harpies can do little harm because
few people will listen to or pay any
attention to their malicious gossip.
But when money is tight, as at pres
ent; when the banks and merchants
are straining every resource to carry
the farmers until they can secure a
better price for their wheat; when
the necessary curtailment of credit
is slowing down the purchase of
commodities and causing a nervous
tension in business circles; then these
human harpies are in their element
and become a dangerous menace, be-
cause they can find auditors among
people who are inclined to be credu-
lous or pessimistic.
The croakings of such harpies
have been in evidence in this COM
munity during the past few weeks,
but sensible people will turn a deaf
ear to them and join in bringing the
authors to justice The law provides
term in the penitentiary for anyone
convicted of circulating unfounded
rumors of this kind.
The Palouse country is financially
sound and prosperous. AS Oscar l..
Cox, representative of the National
Bank of Commerce of New York City,
observed in Spokane Monday:
There is enough wheat in this
section to pay the federal reserve OBJ
legations two or three or possibly
four times. 1t is a certainty that if
the farmers haven't sold their wheat
the money for it has not been spent
The recession in price levels, which
has been pretty drastic, has not yet
spent itself, but the credit structure
is fundamentally sound and it is to
be hoped that there will be no
BOOM
Even if the price of wheat should
SO no higher than it is to day, there
is no possibility of a repetition of the
hard times of 1898 and the few fol-
lowing years. While the banks and
the merchants have heavy loans and
accounts outstanding, they are amply
secured, and when the wheat is sold
they will realize on these obligations
and the money stringency will be re-
lieved. The farmers are not going
to be ruined by $3.50 bushel
wheat. They will not make any
profit and some of them will have to
assume loss, but very few of them
will be hit hard enough to lose their
credit. AS long as the farmers are
solvent and can meet their oblga-
tons the banks and merchants are
in no danger of failure and any ru-
mors to the contrary are not being
circulated with any desire to help
matters.
The banks and merchants are de-
serving of the gratitude and cordial
cooperation of the community in
their efforts TO help their patrons
through trying situation and any
attempt to hamper their endeavors
or impair confidence in their finan-
cial soundness can be safely at
tributed to the malicious instincts of
some modern harpy.
VIM. GOODYEAR.