Edgar’s cashier came into the office and said, “We’re not cashing out-of-town checks, are we, Mr. Quisenberry?” “Certainly not! How can we cash out-of-town checks when we don’t know whether a town’s still there?” Edgar flinched, remembering that only yesterday he had cashed a big check for Randolph Bragg on an Omaha bank. Certainly Omaha, right in the center of the country, ought to be safe. Edgar had never given much thought to all the talk about rockets and missiles and such. He always prided himself on keeping his feet firmly on the ground, and examining the facts in a hardheaded, practical manner. And the facts, as he had publicly stated, were that Russia intended to defeat the United States by scaring us into an inflationary, socialistic depression, and not by tossing missiles at us. The country was basically sound and the Russians would never attack a basically sound country. And yet they had attacked, and if they could hit Florida they could hit Omaha-or anywhere.
His cashier, Mr. Pennyngton, a thin man with a veined nose and nervous stomach, a man given to fretting over detail, clasped his hands tightly together as if to prevent his fingers from flying off into space. He asked another question, haltingly: “Mr. Quisenberry, what about travelers checks? Do we cash those?”
“No sir! Travelers checks are usually redeemed in New York, and between me and you, I don’t think there’ll be much left of New York.”
“And what about government savings bonds, sir? There are some people in line who want to cash in their bonds.”
Edgar hesitated. To refuse to cash government savings bonds was fiduciary sacrilege so awful that the possibility never before had entered his head. Yet here he was, faced with it. “No,” he decided, “we don’t cash any bonds. Tell those individuals that we won’t cash any bonds until we find out where the government stands, or if.”
The news that First National was refusing to honor travelers checks and government bonds spread through Fort Repose’s tiny business section in a few minutes. The merchants, grocers, druggists, the proprietors of specialty shops and filling stations, deduced that if travelers checks and government bonds were worthless, then all checks would soon be worthless. Since opening their doors that morning, all sales records had been smashed. Everybody was buying everything, which to the shopkeepers was exhilarating as well as frightening. Most of them, from the first, had been cautious, refusing to accept out-of-town checks, except, of course, payroll and annuity and government pension checks, which everyone assumed were always as good as cash. When the bank acted, their first reaction was to regard all paper except currency as probably worthless.
Their next reaction was to race to the bank and attempt to convert their suddenly suspect paper assets into currency. Looking out through the office door, Edgar watched the queues in the lobby, hoping they would shorten. Instead, they lengthened. He called Mr. Pennyngton and together they checked the cash position. Incredibly, in a single hour it had been reduced to $145,000. If continued at this rate, the bank would be stripped of currency by eleven-thirty, and Edgar guessed that the rate of withdrawals would only increase. Edgar Quisenberry made his decision. He went into the four tellers’ cages and, one by one, removed the cash drawers and carried them into the vault. He then closed and locked the vault. He walked back to the lobby, stepped up on a chair, and raised his hands. “Quiet please,” he said.
At that moment, there were perhaps sixty people in the queues. They had been murmuring. They were silent.
“For the benefit of all depositors, I have been forced to order that the bank be temporarily closed,” Edgar said.
They were all looking up at him. He was relieved to see Cappy Foracre, the Chief of Police, and another officer, turning people away from the door. Apparently, they had sensed there might be trouble. Yet Edgar saw no menace in the faces below. They looked confused and uncomprehending, dumb and ineffectual as cattle barred from the barn at nightfall. He said, “This temporary closing has been ordered by the government as an emergency measure.” It was only a white lie. He was quite sure that had he been able to get in touch with Federal Reserve, this is the course that would have been advised.
His depositors continued to stare at him, as if expecting something more. He said, “I can assure you that your savings are safe. Remember, all deposits up to ten thousand dollars are insured by the government. The bank is sound and will be reopened as soon as the emergency is over. Thank you.”
He stepped down and returned to his office, careful to maintain a businesslike and dignified attitude. The people trickled out. He kept his staff busy until past noon balancing books and accounts. When all was in order, he advanced each employee a week’s salary, in cash, and informed them that he would get in touch with them when they were needed. When all had left, and he was entirely alone, he felt relieved. He had saved the bank. His position was still liquid. Dollars were good, and the bank still had dollars. Since he was the bank, and the bank was his, this meant that he possessed the ready cash to survive personally any foreseeable period of economic chaos.
Edgar’s calculations were not correct. He had forgotten the implacable law of scarcity.
Like most small towns, Fort Repose’s food and drug supply was dependent upon daily or thrice weekly deliveries from warehouses in the larger cities. Each day tank trucks replenished its filling stations. For all other merchandise, it was dependent upon shipments by mail, express, and highway freight, from jobbers and manufacturers elsewhere. With the Red Alert, all these services halted entirely and at once. Like thousands of other towns and villages not directly seared by war, Fort Repose became an island. From that moment, its inhabitants would have to subsist on whatever was already within its boundaries, plus what they might scrounge from the countryside.
Provisions and supplies melted from the shelves. Gasoline drained steadily from the pumps. Closing of the First National failed to inhibit the buying rush. Before closing, the bank had injected an extra $100,000 in cash into the economy, unevenly distributed. And strangers appeared, eager to trade what was in their wallets for necessities of the moment and the future.
The people of Fort Repose had no way of knowing it, but establishments on the arterial highways leading down both coasts, and crisscrossing between the large cities, had swiftly been stripped of everything. From the time of the Red Alert, the highways had been jammed with carloads of refugees, seeking asylum they knew not where. The mushroom cloud over Miami emptied Hollywood and Fort Lauderdale. The tourists instinctively headed north on Route 1 and AlA, as frightened birds seek the nest. By nightfall, they would be stopped outside the radioactive shambles of Jacksonville. Some fled westward toward Tampa, to discover that Tampa had exploded in their face. The evacuation of Jacksonville, partially accomplished before missiles sought out the Navy Air complex, sent some of its people toward Savannah and Atlanta. Neither city existed. Others sped south, toward Orlando, to meet the evacuees from Orlando rushing toward the holocaust in Jacksonville. When the authorities in Tallahassee suspected that the fallout from Jacksonville, carried by the east wind, would blanket the state capital, they ordered evacuation. Some from Tallahassee drove south on Route 27, toward Tampa, unaware that Tampa was no longer there.
This chaos did not result from a breakdown in Civil Defense. It was simply that Civil Defense, as a realistic buffer against thermonuclear war, did not exist. Evacuation zones for entire cities had never been publicly announced, out of fear of “spreading alarm.” Only the families of military personnel knew what to do, and where to go and assemble. Military secrecy forbade radio identification of those cities already destroyed, since this might be information for the enemy.