The Banker Who Steered Newport Through the Panic of 1907

Among the vicissitudes incident to life no event could have evinced greater surprise, deeper regret and more widespread condolence to the people of Newport than the information of the untimely termination of the career and life of G. S. Thomas, founder and former cashier of the First State Bank of Newport. The sorrows of a community, upon the loss of a good citizen, are alike confirmed and assuaged by recurring to the virtues and services which have endeared him. And so may it be with the lately bemoaned death of former banker Thomas. For here was a personage natural, simple, manly, genial and kind — natural in his conduct, simple in his life, manly in his dealings, genial to his friends, and kind to his competitors. No one can be shown to have attained a more exalted position among his fellowmen, in a more honorable manner, than he, naturally gifted with the most admirable qualities that constitute sterling manhood.

Mr. Thomas was in possession of those persistent qualities for carrying out his undertakings most successfully, while his conduct in affairs of daily life was ever engrossed in the acquisition of information, in reflection, and in deliberation for success in his profession. In consequence thereof he easily enlisted the faith of his fellow citizens, nor ever once betrayed the unbounded confidence they attributed to him. His success was the result of his continual toil, his constant labors and his indefatigable efforts.

He brought his friends under his influence by his kindness; his enemies by his greatness of soul, the superiority of his intellectual ability, and his genuine attributes of virility. The predominance of his qualities of integrity, his love of truth, and his kind regard for his associates were ever foremost in his mind, evidence of which is gloriously manifest in the recent financial statement of the bank.

Here was an able administrator in the management of his official cares, a person of illimitable resource in the face of colossal difficulties; but a man whose knowledge of the condition of affairs, and his insight into the character of his fellow citizens enabled him to judiciously execute the duties of his office. He was neither given to prevarication nor duplicity, and was endowed with a loftiness of purpose and character which did not exhibit manifestation of satisfaction at his adversaries' adversities.

He was possessed of an admirable natural disposition, a system and training of education which combined to form an extraordinary perfection of character, a character with worth, magnanimity, and a scrupulous consideration for the rights of others. He was a lover of good literature, and consumed no small portion of his leisure moments in the advancement of his intellect, a rare trait in the average business man. He was gracious to his inferiors, indulgent to his friends, and magnanimous to his enemies. To come in contact with his inner nature was to admire his qualities of mind and character, and emulate his keen business acumen.

Character is what constitutes the real man; reputation is merely the judgment of others respecting him. Here was a man imbued with an impressive character, inspiring regard, trust, admiration. He had a keen perception of the needs of his profession, a man with a noble mind, genial nature, a courteous manner, and reproachless conduct. Throughout his life he was faithful to whatever obligation was imposed upon him, being a worthy, honorable and courteous gentleman, amply dispossessed of petty prejudices and personal bias. Tall, of strong personality, erect and dignified in manner, he was scrupulously neat in person and wise in address.

Mr. Thomas was orderly, systematic and progressive, an exemplification of which fact is attested by the present character of the institution he founded and perpetuated. As a business man he was imbued with an unusual degree of acumen, industry, perseverance, decision, energy, executive ability, ready tact, and a conscientious adherence to what he regarded as his duty to himself and his fellow citizens. Being infused with such traits of character he was by nature ambitious.

Being a pioneer in Newport, Mr. Thomas founded the first banking institution of the city, eventually known as the First State Bank, a concern which has been of inestimable service to Newport and the immediate vicinity. The financial stringency of November, 1907, called forth gigantic endeavors on the part of the man at the helm of the bank, for the successful issue of the institution through that trying ordeal. A panic spreading over our seemingly prosperous country very naturally caused the most sanguine to waver in their faith in the tenableness of the money market. An institution carrying the financial burdens of a community and vicinity would of necessity be hard pressed in times such as those, and so it was with every such bank in the United States. The effort for survival was superhuman in execution, but under the able generalship of Mr. Thomas the haven of successful termination was eventually sighted, and reached, the anchor of safety once more cast into the waters of peace and prosperity, affairs amicably adjusted, public confidence restored, and equilibrium again maintained.

The mental effort was colossal and exhaustive in its fruition. There is a limit to all human endurance. Overexertion is drastic and pernicious to the mental as well as to the physical constitution. Affairs and financial adjustments were successfully terminated under the consummate direction of the founder and perpetuator of his bank, Mr. G. S. Thomas, but it cost the citizens of Newport a valuable co-operator, a faithful servant and a noble life.

Mr. Thomas was a public-spirited man, and to his energy and faith in the future of our little town Newport owes its city water system. He also interested capital in the establishment of the brick plant at Albeni Falls, and built a magnificent plant, thereby helping to bring about what our people have so long waited for, industries.

The exalted esteem with which the lately deceased was regarded by all those who knew him was beautifully attested in the numerous and magnificent floral tributes which adorned the funeral obsequies.

And as a lasting tribute to a character beloved by his friends, respected by his adversaries, and bemoaned by all, we are reminded of the words of the poet:

"His life was gentle, And the elements so mixed in him That Nature might stand up and say To all the world: This was a man!"

—Contributed.