Omaha daily bee., 1909-07-15
Nebraska
BRIEFS IN GUARANTY CASE
Judge Albert and G. o. whedon File
Papers With Clerk.
LAST DAY FOR PRIMARY FILINGS
Secretary JunkIn VIII Accept AppIi-
cations for Places On Ballot
Until Monday
Evening.
CFrom a staff corr.spondent.n

From a Staff Correspondent
LINCOLN, July M-(SpeciRi. 1.-The legal
department of the state has received briefs
from Judge /. L. Albert who, with c. o..
Whedon, is defending the recently enacted
banking law. which temporarily has been
e~njoined by the federal court
Judge Albert discusses two questions only
in his brief-the right of the state to limit
the banking business to corporations, and
the right Of the state to cause the pay
ment Of a levy for the creation of , fund
to pay. obligations Of the banks to their
depositors,
In discussing the latter point Judge AL
bert says the primary object OF the law is
not to protect depositors, but to avert
panics, by some guaranty to deposltors tina
their money is safe. The fact that de
positors are incidentally benefited by the
act does not render It void, the brief says.
The passage OF the banking act, he says,
was the result OF the financial disturbances
some months ago, and 1t has for it's OBJ
feet the welfare of the public. The brief
calls attention to the enactment Of a guar
anty act in New York in 1929 and in Yer
mont in 1881. A search Of the records fails
to disclose, the brief says, an attack on
the constitutionality Of these laws.
In discussing the right Of the state to
limit the banking business to corporations,
Judge Albert said the issue of notes and
bills was n part of the banking business
under the common law, and yet this had
been regarded as a franchise. This, he
said, shows that what is called a common
law or natural right may pass to a right
that may be enjoyed only by virtue of n
sovereign grant.
A private bank. the brief says, goes out
OF existence with the death Of the owner,
While the corporation bank is exempt from
the accidents Of disease and death.
In his conclusion, Judge Albert said
Legislative acts are presumably valid.
They are not to be set aside on light or
trivial grounds. The act may not have
been conceived in wisdom. but II II easily
trsceable to a desire to serve the public
good. Its wisdom or its lack of 1t, does
not concern the court, so long as the legis
lature acted within the limits Of it's con-
stitutional powers. 1t was designed &c
Rllsy distrust OF The banking system al
times when such distrust spells panic and
commercial disaster. While It may not b,
the best means of serving the end, It can.
not be fairly said that II will not serve 4
in some measure. 1t is the will of tn,
people, expressed by the supreme legisla
tive body OF the state, and as such, come!
before the court attended by the presump
ton of validity"
Junkin On Filings.
Secretary Of State JunkIn will accept I'll.
ings of candidates for state offices unit
Monday night. The last day for filing is
Sunday, but the secretary concluded &c
hold his books open until Monday rather
than close them Saturday.
So far only one candidate has filed
Judge Francis G. Hamer OF Kearney. He
filed today as a candidate for the repub-
Iican nomination for supreme judge
Judg Fawcett said he intended to file his
namo tomorrow, and those candidates whC
have gone to the trouble to secure signer'
TO their petitions are expected to shortly
follow suit.
Charles s. Allen, who has been endorsed
as q candidate for reelection to the 20
sltlou OF regent OF the State university
said yesterday he had given the matter o
filing no thought, and he did not know
whether he would file for the nomination
ready endorsed Mr.. Allen. It Is a SAT
guess that he will file or his friends vii
file for him.
The resignation Of Fred H. Abbott as
regent necessitates the election of thre
regents this fall, and the nomination O
candidates at the coming primary. 8
far only Regents Allen and Whitmore hav
been talked ABOUT as canuluates' 1Ouh
some one started talk around the stat
house in the interest OF C. M. Brown c
Cambridge as a candidate to fill the Al
bolt vacancy. Those who were doing tn
talking said Mr.. Brown could be induce
to make the race as a republican, and tbs
he would get a lot OF upport where he
known.
shock for Young
The young women employed in the Off
OF the clerk OF the supreme court receive
q real live shock this morning. Two ham
some young men, we'll dressed, walked I
TO the bar which separates the clerks fro
the common herd, and spoke to Depui
Clerk Victor Seymour, as follows:
rs this the place to get a marriai
licenseT'
I'VE cam give you a license" repli'