Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1903-03-12
MEASURE NOT PERFECT BUT
HAS MANY GOOD FEATURES.
DEP0SIT0RS INTERESTED
Matter Is net One for Bankers Alone,
Declares the Examiner, but for the
General Public-Another Hearing
Set for Next Thursday Evening
A Conservative Measure.
Madison. March 9

Madison, March .,
Nj, c, Bergh, state bank examiner,
who at the request of various mem.
bers of the senate and assembly drew
the banking bill which is pending in
the legislature and against which
some objections have been raised
from bankers who dislike certain of
its provisions, talked yesterday re-
garding the measure and with some
reference to the hearing that has
been held upon it, He is of the opin-
ion that there are others in the state
besides bankers who are greatly inter-
ested in the bill and that these ought
to be heard and their opinions accord
ed as much weight as the reasons of
the Directing bankers, Mr. Bergh en-
phasises the fact that he is in no
sense antagonistic to the bankers, for
II Is with these men that his work lies
to large degree. He is however, in.
vested with the responsibility of look
ing after the interests of the hundred
thousand or more depositors in the
state, and is impressed with the ne
cessity of some adequate banking
law which ought to be passed at the
present session of the legislature. He
says the bill was drawn by request of
bankers and others. among them
members of the committees on Il.
nance, banks and insurance, that the
bill was framed somewhat hurriedly
and naturally must be open for i'm
says the bin Is approved by many
more interested parties who have eN.
amined II, bankers and deposltors as
well. than there are persons who crit.
icise some Of its provisions, He Is de
sirouS that representative depositors
express their opinions regarding the
merits or defects of the bill so that
all sides may be fully heard before
the measure Is put on its passage in
the legislature.
1T was with considerable reluc.
lance" he said that | consented to
undertake the preparation of bank.
ing bill for the consideration of The
| legislature at this session. | had
urged upon bankers and others inter-
ested to take up this work, rs 1t was
of very great importance to the PEG.
pie generally as well as to the bank.
ers themselves that we should have u
good conservative banking law in Wis
consn. Nothing was done until after
the legislature convened and not then
until after being urged by many mem,
bers of that body did | undertake the
work The bill was drawn somewhat
along the lines of the bill which
passed the Legislature twice and was
voted upon at the general election OF
| 1898 in the form Of constitutional
amendment and was defeated by Il
small majority at the polls. II has
been my aim to either eliminate or
modify the features of that bill most
objected to at that time and yet have
bill which might be considered fair.
| ly conservative. Many of the sec
tions of this bill were taken from the
laws of other states where they have
bank supervision, such as New York,
Minnesota, Iowa, Nebraska and Kan.
sas. | do not claim that this bill Is
perfect, but with a few changes the
bill II 1t becomes law will be a
great improvement over the present
law At the first hearing before the
committee having this bill in charge
those present who favored the bill
practically as II was introduced, said
nothing. and those who had objec,
tions to make we're heard Next
Thursday evening when the next
hearing will be had, 1t Is hoped that
more people interested In conserya.
tive banking should be heard. Il
would almost appear from the persons
present at the last hearing that only
bankers are interested in banking
legislation.
The subject, however, Is one tina.
interests every one, even women and
children who may be fortunate
enough TO have few dollars saved
and on deposit. II is the duty OF the
department to protect the interests OF
dopositors, and in drawing this bill
his has been constantly In our mind,
at the same time not 10 put restric
tons upon the bank inconsistent with
legitimate banking. II would be
very unfortunate indeed should this
legislature adjourn without passing
some wholesome, conservative bank.
ing law We can only recommend
lat We think Is needed and this biz
may be changed somewhat so AZ no.
to do anyone any injustice, but II
should not be changed to the extent
Of defeating it's object"