The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-11-30
JUDGE SEAY IHkS
Ex-Governor Says Many Good
Things to Bankers,
SAFETY OF MEMS MONEY
He Thinks Is a Question of
Supreme importance.
SAFETY OF MEMS MONEY

bona Bankers association at Enid dur
ing the week He said:
Banking is a business that concerns
the public generally. For the convenient
speedy, cheap and safe transmission OF
money through the manifold channels of
trade and commerce, banks are almost
indispensable to the people. Hence the i'm
portance of organizing and controlling
them nstrcty business principles. by
well considered laws Banks must have
deposits. Without The depositor the bank
must close its doors. The Iaw-making
power should guard his interest with
vigilance. It should give him every
reasonable facility for information as to
the banks standing, so as 10 keep him
intelligently informed about the safety
Of his money. This viii tend TO increase
confidence and deposits in all sound
banks, The following amendments of the
/ present laws. it is believed, will improve
them: Amend section 2 Cses. laws 1899
by requiring the capital stock in every
case to be not less than $4,000. When
we consider that the principal purpose Of
chartering banks is to afford the public
/ business facilities, including the borrow
/ ing Of money, and further consider that
under the law one-third of banks capl-
/ tai stock may be invested in real estate,
/ furniture and fixtures, 1t appears that
$4,000 is small enough Section ought
! to be amended so as to require the whole
capital stock to be paid up in cash be
/ fore the bank is allowed to open for
( business. Amend section and repeal
sections 8 and g to harmonic with the
change in section ;. Amend section II by
striking out the word Additionally If
double liability Of the stockholders is re-
CURED it ought to be confined to the ao-
tive officers Of the bank I can not see
the good sense in making all persons who
are interested in. or who are officers or
employees in any bank in the territory in
eligible TO hold Office Of bank commits
sioner as provided in section % We had
better have no commissioner than to have
to select from few, who have either
grown too rich to further engage in the
business, or have been driven out by
failure. The former might not want the
( office and the latter could not inspire the
confidence that both banks and people
ought to have in a commissioner. No re-
Election is intended upon the present or
former commissioner. Section 36 must
have crept into the statutes inadvertently
or by mistake While I favor rigid laws
which viii hold bank officers and en-
ployes to a strict criminal as well as
civil liability, I would recommend its alb
solute repeal for two reasons: First. it
declares that tn mere neglect Of
bank officer, employe or agent to per-
form any duty or fail to conform to
any requirements made by the bank com
missioner shall be deemed guilty Of
felony and the maximum punishment Is
fixed at five years in the penitentiary. No
unlawful or felonious intent IS required
without such intent no felony can be
committed Neglect and failure are Of
lenses Of at alD of omission and rise no
higher in the catalogue than a INSIDE
meanor; second it will be seen by a
careful reading Of sections Is to q in
elusive and sections 50. 80 and s. that all
original purposes and acts are fully pro-
yided for and, If honestly administered
these sections viii secure the punishment
Of every officer or employe for every
criminal act Of commission or omission.
Section 40 provides for the personal
/ liability to the bank Of every Officer. al
lowing an overdraft. Might not that be
safely left to the officers Of the bank to
regulate and determine BY their bylaws?
Under section 81 the stockholders can
borrow one-half the banks capital. AS
banks are carried on presumably for
the accommodation Of outsiders. It might
be well to amend by cutting down one
half that is, allowing them to borrow
not exceeding % per cent Of the entire
/ capital stock Of the bank.
Complaint IS made by the banks that
their capital stock and other Dropertv is
taxed much higher than other kinds and
classes Of property in the territory. The
banks are creatures Of the law. the same
/ as railroad. telegraph and telephone com
panies They are the children OF the peo-
pie, born Of their win. crwstalized into
law by the legislature-the peoples chos-
en- representatives-and should be treated
in all matters Of taxation Ike other peo-
pie. No unequal discrimination should
be attempted against them or tolerated
by them. If 500 Of bank stock. 500 Of
bonds, 800 Of mortgages. 800 Of money
on hand 500 worth Of real estate. cat
tie. horses. grain. machinery. household
furniture OF other property. each Of the
value OF 500. are each assessed at 500
(their cash value). then the taxation is
equal ard just But - the banks ars
assessed 81 100 cents on the dollar and
the assessed valuation ~ the real estate
horses, cattle. grain. machinery. house
hold goods or other property is placed at
s. s33S3 or S5o OF any sum less than
500 this makes q clear case o. unequal
discrimination against the former and in
favar Of the latter classes Of property. II
A has 500 cash and between now and the
1st day of February. 1901 invests q hun
dred Of it in a hundred dollars worth az
hank stock. and with the other hundred
buvs Eve yearling heifers for $40 fthetr
cash market valuel shah the assessor
value the bank stock at hundred dol
lars and the heffers a. 81 a head-thsrtv-
FIVE douars2 The question suggests IT'S
own answer.
sour constitution provides that no IN
equal discrimination snail be INSIDE in
taxing different kinds o. property. bar ali
property subject - taxation shall be
taxed IN proportion 20 its value fOr-
SAME act sec s. Tae c5nstiturton is
d.srezarse6. violated TIE people are told
by denagoeues that the c7rpo-ations sra
thetr euenlies-thst the money ~ the
country IS concentra t3ng in the Banks IS
II te1sy -1uId % BUSINESS VII hout ftf that
ths money power Is destructive az liberty.
that the banks sre the money power &C.
t.e punished The assessor th11Rh he
svo-e be would - impartial iariag AZ
eve 70 reelection IS soon coaVLncA5 -
his friends that Il his otFclai 51tv 20