The Chariton Leader, Chariton, Iowa Thursday, November 7, 1907 'THE TEMPLE HAS FALLEN' - - - - - - - - - The First National Bank, of Chariton, is a thing of the past, in all probability, although at this time the real condition of its affairs is unknown. At least the most sanguine hope is beyond its resumption. But whether it does or does not no banking house in Lucas County can ever, or ought ever, secure the influence it did. It had been a menace to the extent that the prestige of one million dollars placed in one man's hands in a small community of 15,000 was a dangerous power. It would have been much better to have had that means of power distributed during the years past and now that it has been wrecked all can see the evil effects of an unsecured concentration. The people of Lucas County will never again permit a million dollar bank to be builded up on a fifty thousand dollar foundation absolutely controlled by a single individual. How grievously have the people erred and now how sorely do they suffer. This article is not written in criticism, but this mad banking has not only ruined hundreds of depositors but wrecked the fortunes of stockholders and destroyed the honorable life of its autocrat who sought a grave beyond the censure of his neighbors. Used to the piles of securities and heaps of money at his command without a restraining hand -- and the unlimited credit his position gave he could not resist the temptation to enter into reckless speculation, never thinking to lose, but grasping beyond this ken, pulling the temple down upon himself, compromising friends and blighting a community. We say mad banking. When all seemed well this accumulation of the people's money under the control of one man was a menace. so mad was the desire to keep this prestige and power that public functions were compelled to bow to its behests or else submit to the consequences. County and town officials had nothing else to do than submit to its dictates and men were compelled to be sub! servient. Municipal and local elections were often waged through dictation from behind the cashier's desk and men obeyed through expediency because they feared to do otherwise. Public improvements lagged when not in accord with the commands and enterprises were secured or killed according to what effect it would have at the teller's window. So we say the concentration of one million dollars is too great a contribution by the people, under one man's control, to create a healthy condition in a small community. It has proven a lash to scourge them and a false light to ruin. The above is not written in bitterness. It will never be repeated. -------------------------------------------------------------------------------- Copied by Nancee(McMurtrey)Seifert October 17, 2004 [email protected]