The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1907-11-16
Continued from fifth page.

lrptsAurpr, secretary Oi ot"t1 ness" g.
new gpnrruland speaker OF the House t,
sd Representatives. Is
A The Inv now stands tins noHru II
has authority TO name The bank or
t,.,,Ls in which the funds ut the State b
snail he deposited, aud To iix the q
amount of compensation sucn p"nN n
ar banks are to pay the State los i
this privilege. 2
Hinder this system the public iunds
ha,,ue pawn to be played Tor III |
the game OF politics. Banks go int9 I
politics with an eye on the hse"'
agency. This is not u whs'eso'ne
condition. and besides, it results ~
the State receiving far less compensa-
t,op FIR its funds than it should.
/ I respectfully recommend that you
enact legislation directing that the
nnbIic funds be plnced on deposit III
IN. solvent hank or banks WITHIN
tho STATE Offering the highest com
ueusation for such deposits, anu '',a'
The act you pass nuke provision io'
4 rrouerly safeguarding the public in-
trrsts bv requiring such hanks I"
\ denusit as securit v in the State treas
urv hands al the State, or ths'se o'
my upli,icnl subdivisions of thu Stare
\ l1nr.,vi,lpd that the is,nsls oi pohticai
II s,,hdivisions offered command phr or
II more in the open lnarket) equai I'D
n amount tn the amount of i''i'ds p'H'-
III Ell on deposit with such pahk OF
4 banks.
Thai the system .,f security adopt
s<.u-
: ed ly the federal TREASURY. or RAJ her
the government oil the United States,
when il places government iunls IN
national banks. Also by some al the
States of the Union-New York
among them.
If - bank with public funds rails
;ts failure does not uflect the govern
ment or the State. All the govern
mrut or the State has to 40 n u
withdraw the bonds from the treasu
no ~ sell same and reimburse itseli.
PC BIZ the adoption ot this plan TN
od Stntr would be entirely protected u
FOR its funds. aud it is t'~Iieved that IL
no s;ral,lp banks will hid III much -
W three or three aud o..'-half PER cen
for for the States deposits and give IN
nd security desired. >.
Ak Whnt il said in this chapter al I'll
i'd ,nessuge i out letting out the STATE
FAX funds TO the highest bidder anon
rug thr banks applies with equal fnrcr
uurish aud municipal funds. sc'io'
~ sun.Is. levpe and drainage funds, au
ris TO funds appropriated for the Sta
INSTITUTIONS and drawn out ~ u
- State trrusury-. but not in'inen'atr
depended.
sAl ELEcrNG UNITED STATES SENATOR'S
:. ! CONSTITUTIONAL AMENDMENTS. :
3 ,sb IL In December, 1906, an interst''
7th. scnaturial amendment conventln
! N %s called on the initiative 0f the gOvs
rant uor of Iowa. net ut Des MOinrs
Tue that State. appointed delegates
zee Of this convention. Two of these u,
, s ths uupointpd attended the rOnventl
II the nu.. took leading pnrt in it's del
Ar is II lrr.,tiuns-oneu III them becoming snn
riet. man OF the committee on resolution
xtsSe From this committee resoiuti
hereof was reported aud adopted by
an no convention, recommending thht
word Ieeislntures of the several States
DOLCE IN un,suaure of article v OF the e
stitution of the United States, sns
's"s' nppIiration to the congress To cal
lay Of convention for the purpose III p
Son. posing amendments to the cons'
tiou If the United States, to the
Ia that such amendment might De =
mitted to the States, providing
xavorl the election Of United Statessenat
!. La, ly thetiirect vote III the people u
nance ma zee several States. The congress IL
ug the onirrd by the article to eall sucl
srr'ns convention upon the application
water the legislatures Of two-thirds Of
" and !" several States.
jset to several Of the States have aIrel
e q Ply y; Noted favurnbly upon the rrcosl''l
'asand hation OF the Interstate senate
, ssmrs amendment convention. LOUISE
Ave per should now do SO. recommend
81; ;,,a as, ms to yuur favorable consideration.
REGULATION AND CONTROL OF PUl
coiiax. SERVICE CORPORATIONS.
4 seven The people of Louisiana slec
I ia Of their purpose to have proper con
=. n =; over pnblcservire corporations
they crpa.ed the States ran
~ commission.
ayor Now il a good time lor t".s
the subject has been placed U
YOU. l recommend tn you It's
0IRI consideration aud action IN ri
VuVi thereto along lines demanded
popular sentiment.
lights fon. ..~c A p,,s,xrss n THE STATE
Avery large proportion OF the
ATER ness Of the world is done AMI
stcs Quoted by corporations. The J.
eggs snrance and bnnking con'panl
America and Europe and the
trading and Misunderstanding CON
ager, Of every country have their braI
and agencies in all the States Q
- uni0n.