The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-06-06
xStste rR~nd IluVestmes&s,..

HASTINGS, May 30 1s94.-Editor Repre-
sentative: The compositor of copy in
todays issue makes us say: while we
hope it may die out very soon, we favor it's
results What we wrote was, we fear it's
results. But we know those typos make
errors many times, and possibly the writer
wrote badly, as is many times the case,
but this error makes the article a little
ambiguous or would, did not we call at
tention to it.
We also see some of your correspondents
are not very friendly to the investment Of
our state surplus funds in Tennessee
bonds, or any other state bonds, and we
feel they have hit upon a good point. If
were the powers that be to control this
thing the first act would be to have the tax
of 10 per cent on state banks repealed by
the national government. Then we would
originate some plan to create fund for a
banking capital-place it in such shape that
banks could this for banking capital
upon undoubted security on good and valid
real estate. The land of Minnesota and the
integrity of the people is as good as any
other state. The people of Minnesota are
as needy for the use of this money as the
state of Tennessee, or any other state.
Now it does seem to us that this surplus
could be put in just as good hands and just
safe an investment as the state bonds
of any state, and this interest all be left in
our own state.
bank stock which bills could be issued
on a percentage. And the state, by holding
the security could guarantee the money of
the state bank on the same principle as ma
tional bank money is guaranteed. OF
course they could not make money as the
constitution forbds that. But the state
could hold the securities and indemnify the
holder of state bank bills. This would re-
leve us in the state and help our circula-
ton of money. With this method it seems
to us, could have better times for if
the general government will not give us all
the greenbacks we need, surely it must be
provided some other way, or we will drift
into a system of barter that is to be de-
spised in any country. AS you will see we
are for state banks-would be glad to see
90 or more of these institutions in our state.
and run under bank controller who
would take the place of bank examiner
and be paid by the banks, or the banks to
pay license to the state to pay the expense
of the comptroller and such depu-
ties as would be required for the duties of
his office. Seems to US this could be easilv
and safely done, thus helping our people
largely and keeping the money of the sta re
in the state, instead of sending it abroad
for some other poor devils to have the ben
eft Of. We guess this is enough to express
our idea of the disposition to be made of
a legislature this fall that will work more
for the interest of all the people of the
state, more than for the individual and
corporate interests, we may have some
laws for the benefit of the common people
of the state. And it is to be hoped that the
Peoples state convention will put forth
such a platform Of principles that the peo-
pie can see and know how to cast their
votes at the fall election. And if, with all
the feelings against both the old parties.
1Ns,
for reform appears to be the watchword
all along the line, and we believe after the
conventions have made their nominations
we will see the political pot boil hotter
than ever before. And what we want is
men that are of the people, with the peo-
pie and for the people. With such men and
measures the offices should be filled, from
governor down to coroner.
HARVEY GILLITT