The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-30

| hard to findthe man in Kansas who will
De willing 20 advance the money for the
fastener to buy land and build mis-
| house without good margin being
put up. know'that this Is not treating
others as we have been treated, but you
see the people Of the west have prohted
| by experience The people OF the east
| did this for them "a few years ago. but
taking it as a whole 1t has not PANIED
| out very we'll for the lender. We have
| plenty of money to lend at s, and 8
| per cent on good security at one-tnird
its value
How we all know that section A OF
our banking law, which reads as fol-
lows
The total investments Of any bank do
ing business under this act, other than
| saving banks, shall al no time exceed
| four times its capital and surplus actu-
! ally paid in, provided. that UnitedStates
! bonds shall not be considered az part OF
| such investments, etc, not only caused
| this letter but also much comment in the
east The expressions that have gone
| abroad are not damaging to Kansas or
| TO her banking interests, but now does
! the law effect our state banks? This
| law was framed by our friend and very
| efficient bank commissioner with en-
| tire honesty OF purpose and as he sup
| posed in the interest of our state banks.
| Poss IDLY he can tell better thadn We the
effect of it, My observation is. that in
! stead of advancing the state banks tn
] -, not o,,lr
! incorporate as state banks this section
Al has had quite the reverse action.
While we may find few objections to
our present law, taking 1t as whole l
| feel that 1T is the best law that has been
| put on cur statute books in many years.
| The supervision and control of state
| banks has not alone been for the bene-
| fit of the people, but for the benefit OF
| the legitimate banker. A few years ago
anyone could hang out his sign banker
get enough deposits, close his doors and
that would be the last Of IL, now It is diff
ferent, and the people know that their
money is as safe in estate bank as in a
| national bank. They have demonstra-
| ted this confidence by doubling the state
bank deposits many times over in the
past six years. Not only the people OF
ou rown state know This, but our repu-
tation for sound banking has gone
abroad and why shouldn't 1t, FOR what
state can show a greater decrease in
bank failures since the state supervi-
sion than can ours?
Our worthy president, some other mem
bers OF this association and myself,
spent several days at Topeka "a the last
meeting Of the legislature working
| of the present banking bill. We left,
| feeling that we had done much good.
| and believing we cid. Had we sue
| ceeded matchmaking section Al wewould
| have been entirely satisfied. There are
| a few other sections in the law that
might be modified or entirely left out,
but as long as the Office Of bank COM
missioner Is held by the present incum-
bent, the power invested in him will
not be abused. but should we get
man In the Office VINO has not the
broad conception OF the banking bust
ness that our present commissioners has.
the interests of the state banks OF Kan
eas might foe greatly i1ampered by the
power vested inhim.
While our banking law may be a
little faulty. nevertheless it Is not keep
ing from us prosperity. Not only the
banking but the commercial business all
through Kansas are feeling the return
of prosperity and I think that all can
congratulate themselves and look for
ward to the return OF the good times We
had several years ago. E. A. KELLY.
INTERNATIONAL BIMETALLIsI
see that the commission appointed
by President Mckinley 70 confer with
foreign nations on the subject OF bimet-
allism is now in Europe at worklin car
rying out the object OF its mission. In
view OF the pledges made,in the national
platform on which Mckinley was nom
mated and elected. 1t Is very proper ina;
such aIcommission should De appointed.
and that the commission should be COM
posed OF the friends OF silver, az leas;
OF bimetallism. That platform agreed
ito promote by International agree
ment with the leading commercial ma
tons Of the world the free use OF silver"
Without being disrespectful. the mis-
sion OF this commission IL a fruitless er-
rand.
An agreement with the leading COM
mercial nations of the world FOR tae free
coinage OF silver on any ratio between
gold and silver Is an utter possibility
Ny reasons for the opinion are as fol-
lows: The adoption OF the gold stand
ard by the leading commercial nations OF
tie world was not arrivei a. in day
nor year, but was the conclusion %
discussion by finsnciers. Statesmen, the
public press. and several conventions.
during a period - fifteen or twenty