The Kadoka press and Kadoka reporter. [volume] (Kadoka, S.D.) 1910-1923, 1920-10-15

are around $4,000 per head less
than a year ago. The imitation of
he war is now turned to drostic
lefation. | know from the exper-
ience Of old Cheyenne days round
The merry table Of its famous club
that the hilarity Of the night is
succeeded by the depression Of the
morning. The more hilarious the
evening the more solemn the next
day. Everyone expected dehation
after the debauch of war. We
could have met it in our live stock
industry fairly we'll but for the ell
ements. We were cut on an aver
age of 20 per cent by summers
brought and winters snow What
prices will do to us is a problem
but it is safe that at present We
ire from 40 to so per cent in gen.
eral conditions below year ago
The herds and focks are left; some
impaired more than others, bu
he average stockman is left with
very little money and strained
credit. In the halcyOn days of tn,
var he had too much credit. Mucf
If this came from live sock loans
Che packer, the counry banker
he commission man, he speculate
lrew his hat mo the ring and join
ID he fray. There was a mad rusl
or paper over live stock of an.
lind. | liquidated admirably in al
Up going market. Now we ar
ire tumbling over ourselves to ge
)ut. We are rocking he boat
Stand fast. Craig Royson," is tn
'eply Gearge Stephens sent to hi
partners who were building tn
Canadian Pacific Railroad ant
,hough thy had come the en-,
IF heir resources. This is tn
'piri tina should guide us toda,
This wesern country blooming.
This western country bloomin;
like rose with grass, hay and /;
wealth of grain and sugar beet
must bit carried through it's hou
Of disaster. We went through try
ing times in 1887, 1893, 1896 an'
1907 We can do it again becaus
we have the same elements as the,
only our resources are more divid
ed. AS one big man retreats tw,
or three small ones take Misplace
The bankers Of Wyoming, as i.
every wescrn state, have had
heavy burden to carry the pas
spring and summer. There i
however. considerable daylight a
head. Crops never were so goo,
as this season. Prices ar still fla
above ante-war values and wher.
the dry farmer and granger pre-
dominate the cash they receive fo
their crops, added to the receipt.
from live stock, will more thar
likely tide us over another wintel
a nd spring. We have got ou
Federal Reserve Bank to help us
My experience of the Kansas Cit,
branch is, however, far from salts
factory. They are the most agil,
side-stepprs | have ever met. Th'
elusive flea who kept compan,
with you in bed in younger day
is nothing to them. They have
more. red tape than the famou
Chancery Courts in the days
Jarndyce VS.. Jarndyce. - | have oc
casion to deal with other branche.
OF the system. They are flexible
obliging, approachable, looking on
for the weak spots that need help
at the same time consistent anc
cautious. Fortunately for the in
stitutions that | am connected
with we have not had to draw or
the National fountain very heavi
lily and except the policy of the
system we are attached to chan
ges, we will all need to get along
just with as little Us possible.
The above are my own senti-
ment, but so as to confirm them,
quote you several paragraphs from
letter received recently from a
prominent banker in this state:
Speaking generally the law, as
you well know. is good and nec-
cessary legislation and undoubted-
~ saved the country during the
strain upon our finances during
the war and since. Undoubtedly
there should be amendments to
the law that would make it stron-
ger and betetr. For instance in
sead of its membership being COM
posed almost entirely of national
banks, it should be made attract
i've to bring in the state institu-
tions. which are far more numcr.
Gus than national banks, and if
they were all gotten in. it would
greatly strengthen the system.