The daily journal. (Salem, Or.) 1899-1903, 1901-08-16

q q q
salem people ought to be thankful that
they are to have another opportunity to
subscribe for popular loan OF $4,000
Of Salem city bonds, as IL is about the
only safe form Of popular investment
that is left open. The way corporations
are managed there is no field for the
purchase OF stock Of which the value can
not be completely wiped. People cannot
safely put dollar into a street-car COM
pany, factory, or mine and have any
satisfactory protection as minority stock
holders. Small holders OF capita cannot
afford TO compete with the real estate
loan men, AZ the expense of making the
small mortgage OF $500, or $500 or $1,000,
looking up the title, keeping track OF
taxes, and the chance Of having to take
the property on foreclosure, eat up all
interest. The low rate popular loan,
with interest payable twice year at
home, with a good local government and
really all wealth and taxing power OF the
community back Of the investment, is
the safest and most desirable security for
those who have idle money lying in the
banks. This state has notorious and
shamelully loose state banking system,
In fact none at all. II was proposed a
few years ago TO enact stare banking
law similar to that Of Iowa, requiring
publication Of quarterly reports and
state bank examiner, Az soon as thii
was known a Portland hnancier and po
litician queered the whole thing by offer
ing members OF the legislature liberia
rewards TO pass tho bill as no would hay
his brother appointed two Of the blgges
sharks in politics, he-and his brother
The political pull on the national banl
examiners is so strong that In certai
, quarters OF the moon they will give clear
: ance papers TO the rottenest concern
: In the state. The fact IL, bot
. state and national banks are fine an
Q profitable business for the owners, bu
0 they do not lay awake nights to Civ
y other people pointers on profitable II
. yestmeuts, aud II a state banking la
i we're enacted some tomcod politics
y striker would be appointed examine
D and you couldn't coax the idea ava
Q from him with a mallet but what he WI
y perfectly competent. though he ha
!. never financed a bootback stand 1T
a true some such Governor as Geer migl
}, appoint a man who would protect Il
d people against the plunder'Sang OF II
u mercenary brigade, but chances are thu
}, Sol Blumenauer or Abe Tiehenor will
d Governor before the bosses and 9th
u dissatisfied people give him a secor
n term. The chance OF bank inyestmen
u yielding any returns for small deposito
9 or tockholders Is rot in the imhedia
J. nearby, although Oregon banks are
y good and as we'll managed as any In 4
n northwest. The popular loan is the on
= ABSOLUTELY sure Investment for smi
\ holders. aud this is no argument again
!. the banks. The best aud the strongs
D banks endorse the popular loan and re
. Ommend Il to their depositors. A bett
4 day will come 10 this city il its peop
y persist in their practice Of taking stol
4 la the debt OF the community, which
y themselves. Let us bo our own cFeditoT
4 instead Of borrowing at long range al
D really paying the bin out OF our on
4 pocket, instead Of illlng our pockets al
0 At tho same iime benentting ourselv
! and setting an example aud obiec
: lesson Ia sound tinanoe before the Who
. world. After taking up popular loans
nearly 500. 900 several times over III
{ town Is not going 70 stand before d