The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-17
THEY ARE QUEERED
Continued from First Page.)

manded by our people, and we must en-
act them. OF course they will never be
enforced" Usually laws along this line
are not enforced strictly. but the propos-
ed interest law Of this territory would
be enforced beyond a doubt if enacted,
as penalties are put on it's violation that
would encourage its enforcement. For
instance, if Farmer Jones borrows 500
from Banker Smith at rate of interest
beyond the limit of the law, Farmer
Jones, if he does not want TO pay his
debts from any cause. can say to Banker
Smith: IF you foreclose your mortgage
on my property 1 will have you arrested
for uSury and I viii, make il cost you a
fine of $500 On the other hand if they
evade the stamp act the unstamped note
has no standing in court and cannot be
collected. There will be nothing left for
the banks to do but to go out of legiti-
mate business, put their money in their
pockets and do business exactly as the
bootleggers do business in Kansas under
the operation of the prohibitory law
Timid money is always dear money be-
cause ii exacts interests high In proper
tion TO the chances it takes, or else II
does not take those chances. If the laws
are made too stringent in Oklahoma the
man with money 10 loan will go out Of
the territory or else he will devise some
scheme 10 get around the law, and in
that case he will exact more interest than
he does now when the bars are down and
he is allowed to do business with the ut
most liberality.
- 10 IL, L. -
every bank must have at least five direct
ors. who must each hold a certain per
cent of the stock of the bank If two
brothers or father and son want 10 en-
gage in the banking business they cannot
do SO in Oklahoma un.ess they take in
three other men with them. 1t takes
more income to give profits to five men
than Il does TO give profits TO two men.
and hence higher rate of interest must
be exacted. Besides. II is hardly fair TO
compel two brothers or a father and son
who thoroughly understand one another
to take into partnership with them three
men who may be entire strangers to them
And, worse still. 1t prevents any one man
from doing banking business himself,
no matter how much money and qualifi-
cations he may have. He will be forced
10 go into partnership with four other
men. who will have as much voice in the
proceedings OF the business as he has
The biz will meet with general disar-
prevail in the territory, among the men
who do business.
MAYS BEER BILL.
After the passage Of Roses banking
bill the house took up Mays beer bill,
imposing practically prohibitive license
charges on the men who are in the whole
sale beer business IN Oklahoma. All the
Pops but Lytton and Graves voted for
the biz. and two Republicans-Vickers
and Mouriquand-voted with them. All
the Democrats voted soiidly against the
bill. The bill originated in a desire 10
make il a source Of financial speculation.
but the beer men failed 10 put up. be-
lieving that they can kill it in the DEM
ocratic senate. That /; viii be killed in
that body there is very little doubt. |
There was no demand whatever for the |
bin. Not a single letter or petition has |
been sent 20 the legislature asking for its |
passage. II the senate should disappoint |
everybody and pass il the statement IS |
made that IL would drive every wholesale /
beer dealer in the territory out OF bust /
ness II is quite sure that Il i does no; 60 |
that far it will criPpl all the smaller deal |
srs and give a monopoly 20 few q The /
larger concerns.
As the session advances the members I
o. the lower house are becoming radical /
in their desperation and they felt today /
Ike passing any bill that would promise
disaster 20 some individual cembiaasicn
Of individuals or the people al large The
Popu.isis in the house through their thick
hsadedness are giving the Democrats Of
he senate fine chance q make capital
for their party by ve;oing the innunsrs-
bic follies If the lower house. But = IS
possible that he Democrats % the senate
may be a. thick headed as The Pops ot
the lower house although IL Is zo1 prob
able.
IN THE SENATE
The senate spent most % TIE day on
routine business. bu; Iook uo the Ava