The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1897-01-16
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take up tnOSe mdttcEs vi luo ShSutCo
moment and of the most imposing i'm
port, and, by cooperation, labor Il
accomplish results as nearly satisfac
tory as possible.
ssYou are already informed by the
message of Governor Stone that at tht
very threshold of the ensuing biennia
period we are confronted with a fsca
condition that may prove embarrassing
unless we proceed with the greatesI
care and devise some remedy to re
lieve the situation. During the last
, years the outgoing administration ha:
been hard pressed to a revenue
collected meet the demands created by
the last appropriations. 1t is a subject
with which 1 am tolerably familiar by
, reason of my connection with the treas
ury, and 1t is sufficient for me to say
that / indorse the observations and re-
concentrations made by the governor.
This lis a matter 20 which we must
address ourselves at once and l invite
your earnest assistance in solving the
problem and in removing the difficult
in our path.
PRESENT PROSPERITY o EXPECTED.
..The most rigid economy must be
practiced by all departments, not only
because 1t is right as a governmental
policy, but more especially because II
is imperatively demanded by the ext
gencies confronting US. 1t is my opin-
ion that under the prevailing gold
standard and financial policies of the
federal government, general business
conditions will not materially or per-
manently improve, but on the contrary
we can reasonably anticipate a contin-
uance Of this experience which has so
distressed the country IN recent years.
I see nothing in the immediate future
to warrant a substantial hope for bet
ter times. 1t is the part of wisdom
that the representatives of the people
should keep these things IN mind when
they come to provide for the public
revenue and to make appropriations;
but no matter how economically we
may administer the affairs of the state,
the constantly growing needs of public
service incident to a large increase In
population and business developments,
make it impossible that appropriations
should be confined to the present vol
ume of business if hat volume should
remain stationary as it will, substan-
TALLY in the absence of further legisla-
ton.
ssThere is a positive necessity for an
increase In the treasury receipts. This
Z believe can be done in q measure, as
in my judgment it should be, by such
amendments and conditions to the tax
laws as will decrease the burdens of
farming and kindred industries, and
| impose a taxation on those who are
enjoying public franchises and special
privileges granted to them by law and
for which under existing conditions
they make no adequate returns. But,
| whatever you may deem it most wise
to do, the situation is one which pre-
sents q legislative subject of the first
Importance, and ita consideration
should not be delayed.
BANK LAW CHANGES DESIRED.
s'Passing from this, l desire to sug-
gest several other subjects which l
regard as of paramount Importance
and to which l invite your most
thoughtful attention. recommend
the Establishment of a banking bureau,
and that the Office of bank commits
sioner be created. This officer should
be given charge and supervision of
private banks, and all banks organized
under state laws, building and loan
associations and trust companies. The
compensation of this officer should be
sufficient to engage a class OF talent
equal to The importance Of III work,
and the expense Of the bureau should
be met by q levied In some proper
form on the institutions committed to
its management. In my judgment the
law as 1t now stands, scattering the
control of these Institutions throughout
the various departments of the state
government, is crude in conception,
imperfect in form and unsatisfactory
In practice. The duties and RESPONSE
biIities of the officers and directors of
banking institutions should be better
defined and their liabilities to deposi-
tors and creditors should be more thor
oughly understood,
ain this connection will say l be-
lisye the statute defining the powers OF
trust companies Is Objectionable, be-
cause 1t confers upon them q multitude
OF privileges. 1t authorizes them to
engage in business rs trustees. and to
jeopardize trust funds by becoming
sureties on all kinds Of official and judi
cial bonds, and by guaranteeing the
fidelity of public officers and the hnan-
cial agents of private individuals. II
also sptborizes them to buy and sell
real estate, and engage in the banking
business and to become heavy borrow
ers vastly in excess of their capital.
TO REVISE THE STATUTES.
'sThs nsxt regular session OF the
general assembly, which will meet in
January, 1899, will be the revising
session. Under the constitution that
session can sit for 120 days at $5 per
diem. 1t Is almost impossible for such
a body to reyIse the entire code OF laws
with any degree of Satisfaction. Past
experience proves this. The revision
of 1889 compares favorably with former
sessions, but II is full of contradictions,
incomplete, inadequate and uncertain.
1t is in every respect desirable that a
suitable plan be devised and put in
operation by the present legislature to
secure an accurate, thorough aud sys-
tematic revision of all the statute laws
of the state to be submitted to the For
tieth general assembly for review,
adoption and puhlioatiQn as the Revised
Statutes of 1899. l believe that the
law should authorize the appointment
Of O commission to be composed of
three able and experienced lawyers, for
the purpose Of preparing a revision to
be submitted 10 the next general assem-
bly. These men should be appointed
for two years at such a salary as would
insure the best class of legal talent tor
the work. 1t should be made the duty
of all state, county and municipal OIL
Gals to furnish the committee with any
data in their possession when called
for, and to otherwise aid them in every
proper way. In this way far better
than in any other, in my opinion, a
revision be made and the laws per-
fected. | have no doubt, whatever,
that the expense of the committee
would be saved many times over by the
results Of its work. | am strengthened
in the views here expressed and am led
earnestly to commend this plan to your
favor, because my opinion in regard to
tits o~onourred in by many..of the ablest
aud most thoughtful men of the state.
TO CURB TRUsTs-coERCIoN CHARGES.