Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1901-02-15
PAT LYONS.

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He Pays His Compliments to Exemp-
tons and Usurers and Gives the
Legislature Advice on Various Mat
ters.
IL EDITOR TRIBuNE: There are a few
m%eritorious measures before our legisla
ture in whose progress the whole people
of the state are interested.
First. House bill making county
repositories give a surety bond. Two
years ago the legislature enacted a law
making it obligatory for the county
treasurer to. give a surety bond with
proper restrictions. This law met with
the approval of the Wholesale regard
less of party. It was a much needed
law. Today we find our funds without
proper safeguards. Our treasurer, in
compliance with the terms of his bond,
must deposit the receipts daily, which is
right and proper. He takes the funds
from the safety vault of the county
around the block to the state bank de-
pository, who has given often a worthless
personal bond, and by law is allowed to
loan-the funds, and of necessity must do
SO. He advertises four times each year
that he has only 5000 capital, and often
only half of this sum is in cash, the re-
mainder in banking house and furniture,
leaving the county funds protected by a
cash capital of two to three thousand
dollars, and the return of the funds to
the county again dependent entirely
upon the sagacity of the state banker.
His integrity is not questioned for he
advertises his resources, a fact known to
every one who reads. Let every member
feel it his imperative duty to see that
this bill reaches the governors desk.
Second: High exemptions in this
state are not helping the honest citizen.
On the contrary it compels him to give
a great deal more security by chattel
mortgage for every obligation and he has
to pay for the drawing of the mortgage,
also the recording. If he does not have
a dollar of exemptions he will be nc
worse off than if he had ten thousand
exemptions and only five hundred in
chattels. He must mortgage his chatte]
to live. High exemptions exclude him
from credit. The merchant who trusts
him under present conditions cannot gel
credit on such paper or accounts. Low
exemptions teaches the young man JUS
starting out with the world before hin
to be prudent, cautious and his capita.
Of unquestioned Integrity. No exempt
ions is the best foundation in the worlt
{ for a young man to build his future on
t Once adopted he carries it through life
, Let us discontinue our fair state as
harbor for broken down sports and deat
beats; teach our rising generation, 0
which we have reason to be proud
North Dakota integrity does not recog
nize exemptions. Drive from our state
by legislation, the parasites who CLAIM
the state owes them living withou
industry and due regard for .eur laws
Teach our boys that an honest Obligation
once made can only be cancelled whel
paid. ~-sz 49,, .
\. Third. Our usurer, the most despic
9 able, cowardly wretch known to tn
human a He is usually the proprie
tor of one or more state banks in gu
state. AS a rule, he has the; handling 0
our county funds at a low rate of inter
est-the maximnnl3 per cent-2using hi
bank and his methods as asclubto max
the county board accept his straw bond
His natural prey are the weak athletes
and unfortunate; his rate of5interest i
, established when he learns the dire ne
cessity Of his patron-the greater tn
distress thegreater the bonus demanded
He loans small sums for short periods
On renewalof: the obligation the princi
pal sum sinks into insignificance, il
many Instances it being barely stuff
8 Gent to pay for the revenue stamps re
qired. FOR the note given for bonus. I'll