Arizona republican., 1909-10-19
KANSAS AND ARIZONA
 BOTH IN \ FAIR WAY
THINKS LAND MlSSlONER,
 HOWELL JONES.
The Matter With the Former Is Its
 Stupendous Wealth.

the santa re SyStefn, Cdfie to iHc city yesterday morning and will re- main here until Wednesday evening. MT. Jones stated that he was brought here by no business in par ticular and he spent the day in call ing upon acquaintances. He will probably meet Secretary Ballinger to- day
 The principal topic of MT. Jones was Kansas. for he is resident of Topeka. which is the Bohemia he would rather live in than any other land" But in the belief of Mir. Jones. there is something the matter with Kansas after all or the Sunflower state this year would have led in the production of corn. The people had it in their power to take the lead but many of them had grown lazy with fatness and wealth. But Kansas would have led in corn anyhow. in spite of the people, if the August or making" weather had been right It was too dry, however but the formers who cultivated their corn through that period and kept the moisture from evaporation, after all. raised normal crops. But others, and the most of them, who had laid their corn by raised only two-thirds of a crop. They had more money than they needed anyhow and they declined to blow corn out of season. The ground was too low for them. as Dom Paul once said in explaining why the peo- pie of the Transvaal would not raise had all Ghinnpd into the republic.
 Thus. said MT. Jones. Kansas pro- duced only 150.000.000 bushels of corn this year: it ought to have pro- duced 225,O0O,0O0 bushels. But as usual it leads in wheat. Kansas, said MT Jones, though it is known only to those who pay attention to such matters. is the leading wheat state in the union. It produces one eighth of all that is raised in the United States. There are bigger and more famous wheat farms in the northwest but there are not nearly so many of them.
 The people of Kansas this year. said Mir. Jones. have $20O,00O.O0O in the banks of that state. This state ment led up to some remarks by the land commissioner on the banking laws and general banking situation in his state. There is deposit guaranty law there. demanded by the people and the state banks. by the latter chiefly on account of the propinquity of the state to Oklahoma It was feared that the guaranty sys- tenn of the new state would divert heavy deposits from Kansas banks. especially from those along the bor- der. There was some objection to the Kansas bill on the ground that the national banks would suffer since they could not avail themselves of such a law. But they are not sui fering. said MT. Jones. On the con trary The politicians saw to that in advance.
 'Oh. these politicians" remarked NIT. Jones, wiping his brow; they keep our shrewdest business men jumping sideways.
 Under the pretense of preventing the state banks from mourning great risks the guaranty law was made to provide that no state bank should pay more than three per cent on de- posits Of course. this provision did not apply to the national banks which thereupon began to pay four per cent. The additional one per cent has been preferred by many de- positors to the sheltering aegis of the guaranty law and the state banks are complaining.
 MT. Jones did not express an opinion regarding the guaranty system but he did offer a suggestion whose adoption he believed. would result in a more active circulation for the greater benefit of all. That would be q law prohibiting banks from paying any interest on deposits; that is. all banks except savings banks. A bank, said Mir. Jones, cannot regularly in- vest it's deposits so as to earn the interest it is compelled by competi- ton to pay. It may engage in specu- lation but the most of the money is sent to the large institutions in Wall street and that is the way that the money that belongs in the west is found in the east; that is why four fifths of the money of the United states is found east of the Ale ghenies.
 If banks were not allowed to pay interest they would not have SO much money and there would be more for legitimate and developing investment. The banks could however get enough to enable them to keep up law full and ample reserve.
 All the optimism of MT. Jones did not relate to Kansas. There was enough of it to spare for Arizona which he believes will become as great an agricultural state as it is a mineral territory. The agricultural resources he believed. are by no means all in the valleys where op- erations are now centered. In time there will be hundreds of thousands of acres of apparently hopeless land brought into cultivation. The con- quest of the desert has not yet really begun.
 ei:aLtI, Hollar vuitb Snou