The Houma courier. (Houma, La.) 1878-1939, 1903-09-19

ones at QaQQ possible TO Tell6Y6 us
from their thralldom and tyranny,
and the dissipation of states finances.
Now happily, after All era Of good
and wise administration, covering a
period of something over tweBtyyears,
the State has waxed strong and its
credit stands second to none other
in the Union. During this period Of
twenty years just passed, laws and
measures were made and adopted
safeguarding the finances of the
State, that now appear in our days Of
prosperity as unnecessary, unsound,
and undemocratic. Among these I'M
sound doctrines Of political economy,
are those now in vogue in this State
of farming out the finances of the
State to the highest bidder, and not
disseminating them throughout the
State by ~depositing them in the State
Banks, thereby allowing the greatest
Fgood being done the greatest number,
as we'll as preventing the upbuilding
of one section of the State to the con-
tradistinction of others.
In years gone by, when there were
only a very few banking Institutions
in the State of Louisiana, and these
were located in the large cities F;
when all interests were stagnated,
and the States credit and finances
were at low ebb, then perhaps, such
methods we're permissible. But now
what do we see ? Her bonds, State,
Levee, and Municipal, scattered over
all the States Of the Union and of
Europe, commanding the highest pre-
MUM, eagerly sought by investors,
and whose interest has never yet been
scaled or put in default; the rehabili-
tation of all classes of manufacturing
plants; the development Of the agri-
cultural sections to the highest de-
gree of perfection, and her banking
facilities fast growing to proportions
that will soon place her in the first
rank as a financial centre. There are
now in active operation in this State,
some l08 State Banks with a com
bined Capital Of $8,275, 10000, Sur
plus and Undivided Profits $5,457,-
1882, and resources footing the
large amount of 58,648,495.63, and
these figures are constantly being
augmented. In the daily Press of not
long since, the State Bank Examiner
in an article Of public interest, pro-
nounced all these State Banks to be in
a strong and healthy condition. Since
when did all this advancement take
place? We can we'll say in a short
period of ten years.
When the people ofLouisiana in the
year 1898, considered that the time
had arrived for the formulating and
adopting a new Constitution, one more
in keeping with our present state Of
/ advancement, the banking interests
Of the State had then arrived at such
magnitude as to warrant the incorpo-
ration in this new Constitution, a pro-
vision creating the office Of a State
Bank Examiner. Subsequent Legis-
~latures have passed laws putting into
effect this provision, aswel as amend,
ing the Statutes by making numerous
new laws safeguarding these State
Banks, and the interests of the PEG.
pie doing business with them.
What has been the effect on the
general prosperity Of this State by the
organization of these numerous coun.
try banks Z? Without fear of contra.
l diction, all will attest the fact, thai
the State Banks of Louisiana have
! done more towards the upbuilding o.
the State, and of the respective com.
munities wherein located, than any
other class Of business il the State
and this being the case, why SHOULD
not the State be directed through it;
, duly elected officials, to do all in it;
= power to foster and encourage sucl
institutions, as well as throw around
them every safeguard.
This, gentlemen, is the question
now before US. Shall the State Of
Louisiana pursue towards the State
Banking Institutions within her con.
fines, that broad guaged policy o.
doing the greatest good to the great
!; est number, by causing her Fisca
Agents to deposit her finances gener
ally throughout the State in her owl
banking institutions, those she ha,
given birth to by granting them Char
tiers, as well as supervising their ad
ministration, or shall she continue t.
follow the present mode Of allowing
one, two, or three banks to cOngesI
her funds in their hands, for q pit.
lance of a bonus that the State does
not need
It might be well to advise with on
Legislators to this end, and to sec