Polk-Des Moines-Wapello County IA Archives Biographies.....Temple, Edward A. 1831 - 
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Joy Fisher sdgenweb@yahoo.com December 12, 2007, 10:18 pm

Author: Lewis Publishing Co. (1896)

EDWARD A. TEMPLE.—The life of this gentleman forms a story that is both
interesting and instructive, for his career is in many respects exemplary. For
many years he has been connected with the history of Iowa as one of its most
conservative business men. He is now president of the Bankers' Life Association,
an institution which owes its existence to his enterprising and progressive
efforts. His home is in Des Moines and he is recognized as one of the most
prominent, respected and honored citizens of Iowa's capital.

   Mr. Temple was born in Lebanon, St. Clair county, Illinois, September 23,
1831, and is a son of George and Sarah Forest (Deaton) Temple. In 1837 the
father became a resident of Burlington, Iowa. He was one of the earliest
settlers of this State, which at the time of his arrival formed a part of the
Territory of Wisconsin. From that time forward he took an active part in shaping
the development of this region and in promoting those interests which have added
to its prosperity and progress. He was sent as the Representative from his
district to the first Territorial Legislature of Iowa, and in 1851-2 represented
Des Moines county in the General Assembly, and was elected Speaker of the House.
He was an excellent parliamentarian, a man of superior mental ability and worth,
and may be justly numbered among the founders of this commonwealth. He served as
Postmaster at Burlington under the administrations of Van Buren and Tyler. He
was born in 1804, a native of Walpole, New Hampshire, and a son of Jonas Temple,
of English descent. Leaving New Hampshire at the early age of twelve he grew to
dislike the Puritanism of New England and to love the open, just and generous
ways of the great West, with which he had cast his fortunes. His death occurred
at Ottumwa, Iowa, in 1878, at the age of seventy-six years. His wife was a
daughter of Rev. John Deaton, a Methodist Episcopal minister of great strength
of character, who died at the extreme old age of 101 years, at Salem, in "old
Virginia."

    Edward A. Temple was the third in a family of six children who attained to
years of maturity, and the others now living are Cecelia A. and Jonas D. The
gentleman whose name heads this review was a child of only six years when
brought by his parents to Iowa. His youth was passed in Burlington, and his
early education was acquired in the private schools. At the age of fifteen he
left the school-room to enter the service of Levi Hager, postmaster, and later
that of Major W. B. Remey, county recorder of Des Moines county. He was
afterward an assistant in the office of George Blickhahn, recorder and treasurer
of Des Moines county. He also acted as Deputy Postmaster at the Burlington
office until 1849, when he entered the employ of Bernhart Henn at Fairfield,
Iowa, for whom he worked until 1851. In May of that year he married Miss
Elizabeth J. Sweet, of Jefferson county, and in November he became a member of
the firm of Henn, Williams & Company at Fairfield. This firm did a large
business in land and land warrants, having branch offices in Sioux City, Fort
Dodge, Council Bluffs and Chariton. Mr. Temple continued a member of the firm
and sole manager of the Chariton office until July 1, 1857, when the partnership
was dissolved and the Exchange office of Temple Brothers was established, Edward
A. Temple in control. At the time of the dissolution of the partnership the firm
of Temple Brothers was in splendid credit, and possessed what was supposed in
those days to be an ample fortune, but unfortunately for them their New York
correspondent, John Thompson, banker, at No. 2 Wall street, failed with a large
deposit belonging to the firm. John Thompson's assets were sold at auction by
the assignee, his sons Samuel C. and F. F. purchasing the whole lot, as might be
said, "for a song." These assets were manipulated by Thompson & Sons, in their
own interest, and eventually they became controllers of the capital stock of the
First National Bank of New York, one of the largest financial concerns in the
country. Thompson's creditors, however, only received an eight per cent,
dividend upon their claims. The loss to the Temple Brothers was very great, as
their New York deposit constituted their ready cash for business operations, and
their bankruptcy was avoided only by most persistent efforts. In their
determination to maintain their credit they sold property at whatever might be
offered, regardless of present or prospective value, and finally paid all
demands at par, with the then current rate of ten per cent, interest, and in
some cases even more. This sacrifice can be better appreciated when we recall
the fact that nearly ten years elapsed before their indebtedness was canceled;
but the prime object was accomplished and their reputation established upon a
basis which has been an enduring monument to their character for fair dealings
and the "strict performance of contracts," written or unwritten, which had
always been the motto and the policy as well as the practice of the subject of
this sketch. The business of Temple Brothers was afterward transferred to
Ottumwa, Iowa, and subsequently sold out to Hon. W. B. Bonnifield, who in 1863
established the First National Bank of Ottumwa.

   The previous year Mr. Edward A. Temple took a trip across the plains,
attracted by the reported discovery of gold in the Salmon river country in
Idaho. He and his wife, with a party of six others, journeyed with mule teams,
being five months on the road and in camp, and on the way had many thrilling
experiences and some narrow escapes on account of the hostile attitude of the
Indians. An emigrant train which preceded the one in which he journeyed only a
few miles was attacked and plundered, and a number of the party were killed and
left upon the plains, where their remains were found by Mr. Temple and his
friends, who buried the dead and cared for the wounded, at the same time
incurring a great risk by pursuing the Indians in an attempt to recover the
stolen property. In this unfortunate effort two of the emigrants were killed by
the Indians and a number left wounded on the field to die at the hand of the
"noble (?) red man."

   Mr. Temple spent a part of the years 1863-4 in trading with the miners and
prospecting for gold in Idaho, and in one of the mining camps in that Territory
opened an office at what he called "No. 2 Wall street," Idaho City, for dealing
in real estate, mining claims, live stock, groceries and "green-backs,"—and in
fact everything that could be bought and sold advantageously. His business sign
was inscribed upon the head of a barrel, "in his own hand." Each end of the
barrel was painted with different signs, so that either end might be turned
toward the street to suit the "tone of the market." On one end were the words
"Legal Tenders Bought," and on the other were the words "Legal Tenders Sold,"
with the differences in exchange and the market reports. His office, constructed
of canvas, stood against the hillside, and there he remained until the winter
weather forced him to leave the mountains, and rejoin his wife and her relatives
at Portland, Oregon. Mr. Temple then took a position as chief clerk in the
quartermaster's department, headquarters of the District of Columbia, at Fort
Vancouver, Washington Territory, with Captain Hopkins, assistant quartermaster,
and was afterward with Major George H. Weeks, chief quartermaster in the regular
army in the same capacity. He saw much that was entertaining and instructive in
Western life and customs, and went through many of the varied experiences that
formed early Western history and romance.

   In June, 1866, Mr. Temple returned to his old home, Chariton, Iowa, where he
engaged in the banking business, as a member and resident manager of the firm of
F. W. Brooks & Company, his partners being Mr. Brooks and F. W. Coolbaugh, the
latter president of the Union National Bank of Chicago, and the former,
president of the National State Bank of Burlington, Iowa. The business of Brooks
& Company was in 1870 merged into the First National Bank of Chariton, Mr.
Temple still in control. In 1873 occurred the panic which many financiers had
anticipated for years but for which a very few were prepared. Mr. Temple had
taken the precaution to have a good reserve of money placed on deposit in the
National State Bank of Burlington, where it would be within a day's call upon
any emergency, and which would "see him through" any trouble which might occur.
The first shock of the panic brought news of the suspension of his Chicago
correspondent, with a large balance to his credit tied up for an indefinite
time. A call upon his special reserve in Burlington brought the response over
the wire, "We can pay nobody." This was somewhat alarming, to say the least.
Action was necessary, and it must be prompt and effective. Mr. Temple conferred
with his directiors and obtained their approval of his plan, which was as
follows: He called together his heaviest depositors and asked them to demand
payment of their balances, which he well knew he could not meet. He took their
checks by mutual agreement for the amount due; and in payment, or as collateral,
which ever it might prove to be, he turned over "bills receivable " in reduction
of his liabilities. Other claimants did likewise, and in three days the
liabilities left upon his ledger were reduced to a nominal sum. His cash in hand
was equal to the demand henceforth, and with the revival of business he
collected his assets, took up the collateral as it matured, and continued
business without loss of credit to his bank, or loss of money to his customers.
His "bills rediscounted" were large, as appeared by his ledger, but his patrons
were content, and the result of the panic, so far as they were concerned, were
nothing more than a temporary inconvenience. During Mr. Temple's career as a
banker he had taken occasion, in the interest of his customers as well as his
own, to look into the matter of life-insurance contracts, and the more he
studied their character the more he questioned the equity of many of the
agreements entered into for this purpose. The result was that in 1878 he devised
a plan to be operated through the aid of local bankers, and, before undertaking
to establish an organization, consulted freely with bankers of his acquaintance
in Iowa, Illinois, and Nebraska, upon its practicability. The encouragement was
all that he could ask, and in 1879 The Bankers' Life Association of Des Moines
was incorporated and commenced business.

   In 1880 his home was broken up by the death of his wife, and, losing interest
in his old home in consequence, he began preparations for devoting his time to
his new enterprise, which bid fair to command his whole attention. He
superintended its management with the aid of officials of the home office at Des
Moines until 1884, when he resigned his position in the bank at Chariton and
made Des Moines his future home, strong in the confidence that he could
demonstrate practically that new features could be introduced into life
insurance which would do away with the extravagance and "inequity " which seemed
to be incorporated in the plan of many old established institutions.

   Mr. Temple has devoted himself entirely to the building up of the
association, which has become one of the most solid institutions of Des Moines
and of the country, doing a large business throughout the West and in many of
the Eastern and Middle States. To indefatigable industry and application to a
degree seldom rivaled by men of business, and to paying the greatest personal
attention to all matters of a general character as well as those of detail, his
success is attributed. The old saying, "Labor, constant and concentrated,
conquers all," finds a truthful exponent in him. He is a man of strong marked
personality, deliberate in his judgment, firm in his convictions and resolute in
his determination. Throughout the greater part of his life he has been
identified with Iowa and her business interests, and no adopted son of the
Hawkeye State is more worthy of the regard in which he is held.


Additional Comments:

Extracted from:

A MEMORIAL AND BIOGRAPHICAL RECORD OF IOWA

ILLUSTRATED

"A people that take no pride in the noble achievements of remote ancestors will
never achieve anything worthy to be remembered with pride by remote
descendants."'—MACAULAY.

"Biography is by nature the must universally profitable, universally pleasant,
of all things."—CARLYLE

"History is only biography on a large scale"—LAMARTINE.

CHICAGO: THE LEWIS PUBLISHING COMPANY
1896

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