Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1908-09-01

it a misdeamonr for a banker to dis
count a note at a higher rate of In
terest than 8 per cent, while any
other person might do the same thing
without mourning the penalty of the
law. And in considering the ques-
ton of whether or not the statute
violated the constitutional provision
which is here involved the court in
that case says: 1T is quite erroneous
to say it is class legislation, in vi
tiating sense. 1t does apply to
class, of course, as do many other
statutes in our jurisprudence, whose
validity has never been and can not
be successfully questioned; as, for
instance, statutes regulating rail-
roads, physicians, lawyers, common
carriers, warehousemen, etc., but like
all these, its application is to all of
number of persons, natural and arti-
fetal, whose occupation and business
mark the lines of the class to which
they belong, and as members of
which they are each and all, without
invidious distinction whatever, amen
able to it's terms solely because they
pursue an avocation which the law
making power conceives should be
specially regulated.
T. 10 OH ,of
islature intended by the banking act
of 1907 to suppress fraudulent bank
ing and to prohibit the business of
banking being conducted by an in
solvent person, company, or corpora
ton 1t therefore inflicts punishment
upon persons who engage in the
banking business with knowledge
that the bank is insolvent. A bank
implies capital, and capital invites
confidence. A man holding himself
out as banker thereby gives public
proclamation that he has money and
property readily convertible into
money in his possession and subject
to his control and for that reason he
may be safely trusted. 1t requires nc
augmentation or citation of authori-
ties to show that such assurance is
most inviting and influential with the
mass of the people, especially with
those unacquainted with the history
: and character of the man. With then
the banker is intrusted with money
{ merely because he is a banker, an(
hence supposed to have surplus cap
ital as standing guarantee of his in
tegrity and that he can and will hon
estly and effectually perform hi
agreements. For an insolvent bank
er, company or corporation to con
tinue the business of banking is tt
hold out assurances of responsibility.
and surplus capital where neithe
2 exist. To do so under the law Is tt
e secure the confidence and hence OBJ
!, tain the money of the ignorant AM
I unwary by an implied deception"
: The supreme court of Illinois il
: Meadowcroft VS.. People, 1913 ILL.,, Sc
50 Am. st. Rep. 447, had occasion t.
4 consider this question, and in a vel
e considered opinion held that the bus
e mess of banker Is affected with
a public interest like that of an inn
d keeper or common carrier, and i
$ therefore subject to legislative regu
e latiOn. The court also decided il
g that case that a statute making it
Q crime for banker to receive deposit
y while insolvent is constitutional an
n is not in derrogation of the consti
, tutional provision which forbids spec
ial legislation.
: And in Baker VS.. State, 54 wis
n 36S, IL N. w. IL, the supreme cour
It of Wisconsin upheld the constitution
o atty of statute substantially identi
= cal with the one here under consider
/ alton, and in Robertson VS.. People
n 38 Pac. Rep. 1876, the supreme cou1
l. of Colorado held that a statute yer
# similar in terms and of the same pun
# port and effect as the one at bar wa
l. not obnoxious to the constitutions
s provisions, simply because it pu
&c bankers in class by themselves an
i made it penal for them to receive de
IS posits after the bank became inso
l. vent. See also Mcclure VS.. People
IS 81. Pac. Rep. SIS, and cases cited.
:. Many other cases might be cited t
e. the same effect, but the above al
n sufficient to illustrate the rule
y Counsel also contends that the a.
n is unconstitutional because the bod
d Of the act is broader than the It'll
and includes persons and classes nc
8 designated in the title. do not b,
lie lieve the act is open to this criticism
is as a careful examination of it wi
g show. The manifest purpose of til
IS act is to make it felony for any o
A. ficer or agent of bank to receive d,