The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-04-26
THIS is THEIR RECORD
WHAT THE LEGISLATORS DID IN
THE WAY OF BANKING
LEGISLATION
TALK ABOUT THE DEpos1roRs

BARK Examiners Department,
and Thus Furnish Added Protec-
ton for Their Constituents-
Gen. Pope Answers journal.
The following article. which appeared in
the Minneapolis Journal OF April 20. was
called to the attention of Bank Examiner
Pope:
1t is fact which awakened considera-
BILE criticism at the time that the DEM
ocratic heads of various state depart
mentS appeared before the subcommft-
tee on appropriations. while the legis-
for amounts exceeding the usual allow
ances OF money granted under Repub-
Iican administration. This was particu-
larly true in the case of General Pope,
fusionists was made in large part on the
strength of charges against Examiner
henyo4n; ana yet no sooner was the re-
than strenuous effort was made to
compel the Legislature to grant heavier
appropriations. All that was asked was
the first place, it was thought that Gen
eral Pope could get along with less; and.
In the second, that, while it was not pro-
posed to hamper his department unrea-
Sonably, no reason was discovered why
ne sould enjoy any more favorable con-
dltlons than Mr. Kenyon. This explana-
VIII Apply WIN, the same force to
the department of public instruction.
me public examiner was allowed 1875
In the omnibus bill for all expenses 10
70 t ml nrst OF the next fiscal year, Aug.
l. Inere was asked sum approXimat-
ing SooVo General Pope himself was
called before the committee and the state.
audltor was also interrogated. The fig
ure ultimately decided upon was reached
AFTER these gentlemen had appeared and
after the needs Of the department had
Deen studied as closely as the occasion
6 OF
the examiner could get along on less
than $500, but later amendment. in
sPlred by desire for liberality, prompt
ed the increase.
one very material point In this con-
nect1on should not be overlooked. There
Is no prospect that General Pope, in his
~ VI once, VIII be called upon to face
lne conditions which confronted his pre-
G Gee This is obvious The panic Of
1888 1898 ana the years of depression that fol-
the public examiner.
zen. rope said he had seen the article
IN question and that 1t would stand for g.
sooo many corrections. Gen. Pope said:
.. Inc contingent fund is made up
nf,,a adrst-Erom annual appropriations
to $500. oi'ii's
Second-F'rom fees paid by banks
ma9a aHa,, to $1,000 paid June 3d. and
year beginning Aug. y.
80 FROM these sums are paid the salary
VI oIe assistant examiner, $1,S00.
each. $1,000 80 ''''
POSTAGE. stationery and office expenses.
ana and all railroad expenses of public exam,
And we have remaining to nav the roll.
road and hotel expenses of the deputy
an l.1 three assistants the sum Of 81, 600
81, ne minimum OF the expenses of these
aour men on their duty is 81 per day: this
u ,000 would pay the expenses of one man
Tor ESQ days-for the rest there Is no pro-
vision. ~, Each Of the force should be en-
gagged 300 days to perform their full du-
ties, which would require 81, 500.
One clerk worth at least S, 200 should
be engaged In this office, which transacts
more important business and has more
correspondence than any other in the
state capitol. II we except, possibly, the
state auditor. TX, -
For the fiscal year 1878 my predeces-
sor received the appropriation of $500:
the bank fees paid June 80, 1897, 81, 975; and
having need Of more he reached forward
nnd took credit r. for r the bank fees paid
For the fiscal year 18sS-99 he received
the appropriation, $500; bank fees being
credited In the previous year, he received
granted of $500; total, $4,000
The department is now left for the
epps ~ gdS two years with the appropriation
average per each year, $4,000.
Being g, 700 per year less than for the
past two fiscal years My successor rec
his support. would cost $1,000
The last report Of my predecessor
showed 146 banks under state supervf-
sion. There are now 1854, and the number
is increasing monthly The recently en-
acted trust company law may be ex-
pected to encourage an increase in the
number Of institutions Of that class. And
while the reporters have much to say
about the passing Of the panic of 1893, I
am clearly of the opinion that as much
work In the direction Of the protection of
hos
done. and I question the sound politics,
If politics is the science Of government,
OF the legislator, who would neglect an
important branch Of state government
because it had been charged that a for
mer administrator of the department had
not nc 10 foreseen and prevented bank failures,
But I should care less for the appro-
priation if the legislature had consid-
cred, on their merits, the bills presented
the financial institutions of the state are
conducted.
Laws were enacted relating to the
to banks of discount and deposit and to
the trust companies the latter very inn
portant);
tual building and loan associations,
which are now classed with the state in
ferred to the committee on corporations
March 4, reported favorably April a.
passed the senate April Is, went to the
house -(the last day. April II, and failed
to pass.
Senate File 4sO, to restore chapter $50
OF the General Laws of 1897 (void for alb
needed and desired by all the general
building and loan associations was in
troduced and sent to the committee on
banks March 9, reported to pass April 8,
passed the senate April 15 sent to the
mouse and 10 committee on (the last
day. April 4, and failed to pass
Senate File 1882, relating to bank fees
and providing for fees from savings
banks, introduced and sent to the COM
mittee on retrenchment and reform
March 2, reported out March 49, and
failed to pass the senate.
"The present fees from banks amount
department amount to $4,000.
This bill increased the bank fee to
about two-thirds the cost of the exam
nations, and included savings banks,
which have never yet paid anything for
their supervision and examinations. 1t
would haTa produced an income of Sc, 900
to- the general revenue fund.
Senate File SGT proposed to transfer a
fund of thirty years standing from the
custody Of the public examiner to the
state treasurer. 1t was introduced in the
senate March II, and reached a second
reading in the house April 13, but failed
to pass.
posed for an Improvement in the laws
2SO applied to the savings banks gov
erned by the law of 1867. This is such
an obsolete and antiquated law that IT
had been left out of the revision of Thea
General Statutes of 1894. $50 far as Civ
ing any power to protect the depositoIs