The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1890-02-14
THE WAY OUT-No. 6.
Part Three.
THE PLAN CONTINUED

Now, let US provide the machinery
for distribution. Let there be created
In the treasury department at Wash.
ington q Loan B ureau, to be under
the 9 supervision and general direction
of the Comptroller Of the Currency.
Let the Loan Bureau consist of board
of three commissioners and their assist
tauts, appointed the same As other
officers of the department, to be Of diff.
ferent political parties, and to be paid
q salary each of $500 . year. One Of
the commissioners ought to be law
yer Of recognized ability, one acquaint.
ed with the business of banking and of
real es tate Investments, the third ia
miliar with agricultural pursuits from
practical training in farm life. Let
one be appointed for two years, one
for four years, one for six years, their
successors 10 hold six years, the regu-
lar tenn. The Loan Bureau shall es-
tablish loan agencies in the several
States and Ter ritories wherever they
shall be needed, one at the
State capital to be known as
the Central Loan Agency for that
State, and local agencies at such con.
venient places as will best serve the
public interests. In the Terri tories,
there shall not be any central agency.
the business of the local agencies shall
be transacted with the office Of the
Comptroller of the Currency, or with
the central agency In an adjoining
Safe, In bis discretion. The central
agency shall be in charge of o super
intendent, appointed by the Secretary
of the treasury; he employ such clerks
a. may be needed, and he shall have
charge of such funds as may be In.
trusted TO him by order Of the Secre-
tary Of the Treasury on request Of the
Comptroller of the Currency, and he
shall pay out the same on orders from
Of local agencies. He
shall report specially once q month
and generally once year to the board
Of Loan Commissioners upon the
bushes and condition Of all
the agencies within his State,
He shall have general supervision
over the local agenci,s to the extent of
access to all their Offices, books and
papers, and advising the local supeiin.
tendents 10 all cases of need or of diff
ference. The salary of the superin-
tendent Of the central agency shall be
"a 900 a year, and his term Of Office six
years, subject to removal for cause. He
shall enter into bond In the sum of
$50 600, conditioned for the faith.
full performance of his duties and the
and handling Of all public
moneys intrusted to his care. He shall
to assist him Q deputy super
in,eu dent-a practicing lawyer, who
shall have charge Of all legal business
arising out Of the administration
Of this law in the State
and advise officers connected with the
. gencies touching their duties In all
where questions Of law are
raised. Subject To- revision by the
Board Of Loan Commissioners, he
shall prepare rules and regulations.
with necessary blank forms, for the
safe dispatch Of business at the se1 eral
Z agencies; and he shall revise the same
whenever changes or additions are
needed. His term of Office shall he
seven years and his salary 5000
year.
The local agencies ehall be in charge
Of assistant superintendent appointed
by the superintendent of the central
agency; they shall appoint such aseist-
ants a. are necessary for the transac-
ton Of the business Of the Office, aud
dx their wages subject to the approval
Of the superintendent of the central
agency. They shall have NO other
general or special business. They
shall report monthly to the superin-
tendent Of the central agency, show
ing the state of their business
And shall make to him an annual
report covering all the business of the
year In detail. Their ealary shall be
s. 500 year. snd their term Of Office
i've years, subject to dismissa: at any
time for cause. They shall give bond
each in the sum Of s25 900 conditioned