The Red Cloud chief., 1909-01-15

years when no failures would occur and
added TO this the power to raise in any
ono year by extraordinary assessment six
times rs much as has been placed In
jeopardy during the worst year that we
have experienced since the present law
was established. II is my judgment that
such n system would be n rock of refuge
for the banks and for the people In the
herccst financial storms that may come.
I desire at this time TO congratulate and
commend tho management Of our pres
snt banking department for the splendid
results II has secured under the present
law. IL is tho showing OF exceedingly
small losses sustained under our present
management and system which gives US
confidence to believe that with improve
ncnts In our laws as to capitalization.
management and control a stili better
showing can be accomplished. The pro-
posed guaranty fund under such a sys-
tom as has been suggested should be do
posted with tho state banks under regu-
lations similar to our present state de-
p~ository law or with such additional Sc
curity MS the legislature may require. The
proposed law should provide that ma
tional banks may avail themselves Of the
advantages and protection Of the guar
anty fund under suitable provisions and
satisfactory showing ns to the condition
OF such banks to the banking board.
The banking board should be empow-
cred to fix the rate of interest to be
paid depositors by banking corporations
operating under the guaranty OF deposits
law, or IL this he thought too great -
power to confer upon them, the ratio
should be fixed In the statute by tho
legislature.
Revenue Law.
our present revenue law should be
amended I'm so far as IL necessary to re-
store To the people the right to elect the
precinct assessors and to limit In part
at least the arbitrary powers which tho
present law gives To the state board OF
equalization and assessment. so that the
people shall have restored TO them somo
voice In determining the amount OF
taxes they shall be compelled To pay to
support tho state government. II appears
to mo too great "A gift of power to give
to the stttc and county boards the right
to determine the amount, of the levy
which shall be laid upon the property OF
the citizen and at the same time empower
fhe state board to determine through Its
mandates to the county assessors and his
deputies tho valuation that shall DO
placed upon the property OF the Tux pay-
ers. when we consider that the MEMBER
of this all powerful board of assessment
acting in their official capacity az tho
heads of different state departments are
authorized TO spend the money taken
from the pockets OF the people by tho
force OF this same revenue law, the dan
ger lurking In this excess Of power be-
comes more apparent. II Is to be re-
marked that different state departments
have commended the present law because
II provides much money for their use. 1t
Is generally Ia DO noted that those who
pay out money which others must pay
: I'm, view the magnitude Of the amount to
be expended with greater equanmity than
those who have to provide It. The cost
I. OF our state government has Increased
enormously In recent years. l wish to
impress upon you that funds should be
provided to meet every legitimate demand
OF the government, our different state in
n stitutions and our school. but every dol
lar that comes out of the treasury must
Q have been paid In by some tax payer
t and the great bulk of the states income
G Is dug out OF the soil by the unremitting
o toll Of those who can III afford to pay
= for extravaganza or unnecessary ex-
!. p0nSe'
Tho Primary Law.
Our present primary law is unsatisfac-
!, tory and unfair In many Of its provisions.
, The expense to the state In holding a
state wide primary Ii enormous. and un-
less the election results In registering
tho will of the party majority of those
voting and placing better candidates be-
fore the people than the convention meth
!, oil. the benefits OF the law cannot be said
to warrant its cost. Under the present
:, law, the accidental alphabetical position
, OF the candidates named upon the ballot
is at times more potent I'm obtaining nom
! nations than merit or ability. The num-
Der OF names required upon the petition
!. OF n candidate for n state office, Is gross
ly insufficient. The cost OF elections
both to the candidates and the state Is
greatly increased. 1t IL doubtful IL tho
average elector win ever have the re-
CURED acquaintance with tho long list of
candidates for the different offices upon
the ballot In n state wide primary to in
sure intelligent selection. l would sug-
gest to you a county primary to nominate
, county officers and delegates to n state
convention. The state convention to So
lcct two or more names for each Office
to 80 upon the primary ballot and to
G make the party platform, which ought to
G be issued In advance of the primary. In
: stead OF subsequent to it, as at present.
= AdmlnIstratlo OF State Institutions.
I would suggest that the constitution
: be so amended that a non-partisan board
Of control could be created to DO ap-
pointed by the governor and have con-
s ferred upon It the entire Management OF
$ our various state Institutions, The state
n institutions should be removed from poll
4 tiles as far as may he done and merit
Il alone should determine the right OF any
q person TO serve the state in the dr.