The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-12-25


senators. the other Of Deputies. Senator's
rrassas tse thirty years u age. rsaSs rave
resided SIX years ia tseir districts and
have annual incomes OF s--.1H eaen- h
deputy may h@ twenty-five years o. as@
ard must nave been CITIZEN 10Y iosF
years The Deputies are elected Tor Tour
years and the senators for nfDe years Iae
president is elected for SIX years. Mena-
bexs Of congress each receive Twelve sSea-
ssArsd Argentine dollars a gear. and tie
president has a salary OF thirty-six tnou-
sana collars. The vice president receives
Just half az mach as the president, and
each Of the cabfnet ministers gets sixteen
Thousand eight hundred dollars a yeas
You sometimes see statements IN the
gsyers Of the United States that there
IL a close telephone connection bet"esA
oar national capital ard Wall street TIE
Argentine congf FRESHMAN fs not troubled py
having to telephone. The houses or con-
gress fl Rueros Ayres are Just across eae
square from the stock exchange. and the
presidents house stands between. Some OF
the great 81 scandals Of the Argentine re-
.ysl,lfc have oeen In connection with the
Enlsuse os Dsihlic funds by government Of
netaIs and this especially In connection
with the national banks and stocks. NO
where upon earth mas there been sucn cor
rupsion as there was In connection with
fi. National Bank OF the Argentine. which
failed for millions. THIS bank was largely
political. and a word from prominent
official would cause IL 20 pay out money
20 almost any one, Congressman made 10
bones Of ievyinx upon Il for their support
I heard of one deputy who borrowed a
million dollars from the bank and with
this built palace at Belgarno, enc of the
suburbs of BGenos Ayres. In getting this
loan he agreed 70 repay IL Ia iEstatneH-s,
80 mulch every three months The time the
first fiavgYerf came due the bank directors
sent for him When he appeared they lire-
scented tire note. lie looked a. IL and cooliy
gaid he had no money. They then ASKED
him to pay the interest. but he noacha-
Isnt.y replied. 81 have nothing" lie was
then asked II he could not pay SOME OF the
Interest. whereupon he burst out In a rage.
lying:
II have no money. / tell you l don't
expect "a have any. and I want to know
right here, ard now, whether you expect
me to fight the battles of your hank In
congress and then pay back the money |
gek from & Just as other people do AT
last accounts that million dollars and ac-
eumulated interest was stir outstanding
and ii viii probably outstan3 until the
end of time.
Asked for $4,000, Got 1Sh,ssOO-
Another instance showing the looseness
81 the business methods Of the bank az
this time was In the case Of an frresponsi-
bic army officer OF Cordoba. who wanted
to borrow 81, 90 to build house. He knew
Cslman. who was then president of the
Argentine. and n, his request the president
gave him note to the bank officials. bat
through understanding as 10 the
amount wanted asked the bank 10 len!
him ssaoe instead OF 5000. The officer
went 10 the bank showed the letter ana
signed an application. which the clerk
made out for him, the clerk putting I'm the
tn 100 as requested by the president. The
bank directors voted that he should have
the money. and the papers were made out,
the officer signing the note without scan
ming tho fgares When this VAS done
the teller OF The bank showed out $4,000
10 the officer, whereupOa he replied that
he had rot asked for sfa,@a bat wanted
only ssap Thereupen they showed him
the papers The officer pointed out the
mistake and asked what he should do
They replied that he had batter take the
ST. o0a and leave the rest Of she money On
deposit. and that when the first payment
came aue he could pay the Whole note.
So leaving the s5icae the officer went
away. Later on however, he met a friend
who persuaded him that he would be n
fool not - take all the money. as he
could certainly make mora use az IL for
sness,iia;iue Tic result was he ala take
IL and lost the whole ana the bank was
never repaid
orders like this for money from pubiic
officials were frequently given 80 shis na-
tionAi bank Tie standing Of the man
who Was 10 receive the money was seldom
questioned although bis notes were taken
in exchange fot the cash I have heard
az comraon poems who tnuz got money on
their worthless notes n 'i3e instance cf
Politicians whn took the rsopey aud paid
them for their truunse.
The hank would accept drafts twenty 90
.s1tYtv ;4n1es grf&ter than those which -
directors authorized one ~ tAe directors
wa always 10 lHa bought hy eTite. Fac
balance sheets wVre periodically published
2, s!seeive the rlsie. and dividends which
hal newer aeen earned were paid out of
the bank cap9ttt The hank at the start
had capita, es ssosseo Ten wears later
this vas raised te about 81 S<n. AMI is
was afterwards Increased "a N~' - ss In
orc year is deposits were SIS assa Gs'e ar.
SIS Iossy~ over sG2eoa ea. /; had ira Us
xaults Y4.9 ossl 5s.> az rational treasury }dias
rad s. haa - savings espavI naeft IN 81 ,sich
s. 4s5l ~ acre deposste& TIE tank Went,
down ia The pAatF. 3j3 other hanks ~
similar character ts3~ WAS nAertxax~
bank whose Dslsinsss was lending eos,l
money en- hal prora.Fty. TIE government
As also Interested IN tHiz. aa3 s0aav "a
swan. ict was us,sA "a security ger siaosf4
st.a- Today sueA banks ~sTe u1sret
sNay arr tire nraa w!lo make n1a5ey 0sit
uf ths eoverun}aet ns8st dn "a cit Ayr
thrCsiR@ ATiSeTy or taYguEs fhe Ee.f3aE ~
fat contracts.
uiE ruetir Jobs.
RarnQS Ayres has unaHy Sire na,5t, l,..lzl-