Kootenai County Republican. (Rathdrum, Idaho) 1899-1903, 1900-04-06
ENLIGHTENED ng,AsirE.

While passing along The main thor
onghfare ~ Raihdrnm recently on
a.ten.ls.a Was attracted bs sInal
group Of incn whn appeared 10 IN
deeply Interested In The exhortation
q: y e;irss.ane p.ii!ieinn. Tie sub
ieci under discussion was the new II
tin'iai law, and the feature ~ which
the Aforesaid pnlIticinn seemed To bt
giving especial attention was the one
allowing the incorporation of national
hanks With capital of $500 In
towns NJ less than 900 population.
We did not tarry long. but just long
enough To catch few expressions by
which the Individuals political creed
nigh. .s- inferred, and shall leave H.
~ the reader by giving n few Of the
bright thoughts gathered.
After denoune!ng the measure rs the
most Ubiquitous piece of financial leg
islatinn ever enacted by law making
Hs!, IN any country. tn. euft~tone
politician proceeded 10 explain that
under It's provisions any individual or
company vino Possessed $1,000 tn
United States bonds, or who had the
wherewith to purchase such securities
a. that amount, could proceed Ia issue
currency In any anruint desired and
might proceed to loan the same Ia the
people III u high rair uf interest. Aft
or this iHtss, astounding assertion, h,.
wanted ia know ahy la HI The gov
srnHsH: did no: !ssne this money d..
rect To The people and save them the
Interest which they are now required
Ia paw. We passed on without accept.
lug the challenge.
In pcrnsing some III our fusion cx.
changes as well MS the speeches dciiy-
cred by Bryan one cannot hc surprised
That individuals who allow others to
- US thinking for them should form
surh prep'etcrons opinions as our be-
whsskcrcd friend expressed. This
rurfmtoic politician was educated In
their school. And still they harp
about campaign of education, This
man no doubt read every word Of Bry.
ans latest speech, ar perhaps heard
ths gifted orator deliver IL, aud learn.
wi is,st enough 10 make himself ride
nio,'s. even among his most iliitcrate
associates lie had been told that The
new financial law was merely a scheme
10 rob the people, but his informant
hsiscd Ia explain how the robblng was
accomplished With the aid ~ this law,
aud the nnthlnking ldiyidual proceed.
ei To form IA theory of his own.
The new financial law makes these
changes Ia the national banking Syn.
tenn: a hank may be Incorporated
With u capital ~ $1,000, instead Of
sb,un, the smallest amount Of capital
heretofore required tn establish mn.
tio,ial hank; a chartered bank may
TAXI out circulation 10 the par value
VI the bonda deposited. instead OF only
w p~r cent IN therefore, and the tax ON
"s''t6" tA"s p7Nh fNdutfh W ptit-
half OF one per cent. These changes
Will certainly rebound to the benefit
~ the people. aud We confidently be.
liesc Il will require only few months
10 demonstrate that fact. Onc OF the
results viii b. a largely Increased hank
hnte circulation aud this. together
With reduction NJ the tax will lower
The rate Of interest. Aud every dollar
NJ this now money. like all other forms
~ nnncy under thc law, VIII be- Just
aS gsd a. gold, because guld bonds
arr deposited With the United States
treasurer To coscr every dollar OF hank
rurrcncy issued.
That feature II the new law which
provides Tor the establishment III IA.
iioilai hanks with capital uf 81. 900
IN small towns will hs appreciated b,
All hs,siness men Who r.c.guixc the
'ntITtatse II such an Institution In
The transaction ~ all business. Rath.
afum u sntelt Ia need us on. II these
institutions and not single business
'nan In the ta~n will deny I'M, and
atrtet the nrw Law the town " III prob
ahiy srph have one, then the adyan.
'agcs VII b. brought right hume Ia us.