The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1933-02-09
Still Looking Up

SClu LOOhIlS W
IKE every other citizen and depostor, we expert
enced that sinking feeling Monday morning when
IL we learned that the State Bank and Trust COM
nanv was forced to close its DOORS Our first reaction
was whats the use."
But time and thought develop better attitude.
Whatever we as individuals and as community nave
lost by this misfortune, can congratulate ourselves
and our neighbors the sane manner IN which we
have taken this setback Up to the time OF this writ
ing not person has demanded money oeposi'eo a.
the other local bank.
We are glad to learn from impeccable sources OF
the yalient efforts made by directors Of the bank to
save the institution and the money OF its deposltors
Every possible solution considered and every per-
sonal sacrifice offered How much sadder 1t would be
if if there was to question the integrity
of the men who played such prominent part in the
building of the institution and the city.
The closing instead, was the result of the depres-
sion. Mortgages and loans made when values were
reasonable became frozen assets when events beyond
the control of anyone here caused prices of farms and
farm products to tumble far below what they should
be worth.
Perhaps moratorium had the governor made
one possible, would have delayed the day. It might
even have allowed the institution to weather the storm
had something happened to restore the values which
its assets were based Without such event this end
was inevitable, however, and we do not propose to
blame the governor for which in his judg-
ment the If had to face it, better that
it be when are accustomed to setbacks
Government in business is partly responsible. The
system of postal savings encourages persons to place
their savings with the government, taking them from
the community in which they belong But the persons
who make of this haven not to be blamed,
blame instead economic system which gives rise to
ridiculous values, both high and low, and in turn
creates the fear which drives its citizens to accept
lower interest rates for greater margin of safety
Blame also the politicians who the government
to compete with individuals in every line of endeavor
Be thankful meanwhile, that we have trade
Of great wealth which will be far greater cond-
tons right themselves they always have Be thank
full that have the dauntess spirit of youth that will
to struggle on helping each other facing each
hardship with the spirit Eve can't be beat"
And last, let us have faith in the institutions
which remain. We have bank which was organized
since farm values slumped and consequently has e-cap
ed that pitfal 1t is strongly backed and carefully
managed We still have the stores which attract
omers from long distances and bring wealth to the
city. We still have beautiful city, advantageous,y
located We are still eating and sleeping regularly
There is plenty of reason to continue to "ook up"
More Song
n RIGHT spot in the news this week is the organ
X ization of Choral society which will bring to-
gether the voices of the community in song for
the pleasure of both its members and the public.
Even to those of who sing much like crows,
there is JOY in hearing others sing This is especially
true of home talent groups because they ordinarily
sing something understand and appreciate One
thing the world needs badly is song.
Officials who do too much shaking down some
times experience shake-up.
1t looks as if the Technocrats made the mistake
of putting all their eros in one baskets ,
The severest critics of business "intelectualso
who got that way at colleges endowed by business
French and German cabinet posts have afforded
quite bit of temporary employment this winter
Ii the legislature gets the boxing and horse racing
problems settled before the 80 day session is up it
may take up some matters of Importance
Congressman agree that they couldn't live on
$500 per year-and then proceed with the reduction
OF the salaries of clerks of whom get as low as
$1,000.