Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1909-03-16
MEMsER OF ASSOCIATED PRESS
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SOME LEGISLATIVE CRITICISM
The Underwood Broadaxe is par
ticularly severe upon the recent leg
islature and uses President Roose'
velt's "short and ugly" word to char
acteristize the members, all of which
would indicate that the Broadaxe
had an especially severe attack OF
jaundice with relation. to things in
general and the legislature in partic-
~ ular. The Broadaxe arraigns the leg
islature for not having passed the
bank deposit guaranty bill, the mi
tiative and referendum, and the bill
providing for physical valuation OF
railroads, all of which measures
we're defeated in the house, and 1t
surely cannot be said that the house
was stalwart in Its factionalism. New
ertheless, the Tribune believes the
house pretty nearly represented the
sentiment of the republican party in
. the state in disposing of these three
: propositions as it did. Physical val
uation of railroads is no small task,
and will require no small amount Ut
money. The accurate valuation of
property worth $3.50, oO0. 900 to $780,
600, 600 will require much time and
plenty Of money, the services of ex-
perts, the establishment Of an ex-
pensive bureau to take charge Of the
work, and when completed might not
accord with the valuations establish
ed by the interstate commerce. COM
mission, or by some other state, In
the making OF rates, for which pur-
pose alone physical valuation Is in
tended, It might be that conditions
would so change before the valiia-
ton Of the roads were completed
: that the time and money would have
been expended without result Ply
steal valuation, when undertaken,
should be undertaken with reference
to an entire line Of railroad, and by
II board of appraisers skilled in the
work and operating under the d.
rection of some central body, such
as the interstate commerce commits
sion. The valuation would then, at
least, have the weight of skilled au-
thority, and would be uniform.
= As to bank deposit guaranty, we
believe that subject is pretty well
disposed Of, and the demand for it
seemed to end with the national
campaign. The solution of the mat
ter Of safety in banks lies at the
-oot and not in the branches. Prop
r supervision and right examination
and regulation Of banking methods
VIII do away with the necessity for
deposit insurance. We believe it is
safe assertion that II the banking
laws of the state and of the federal
government are observed and ordf-
nary prudence and care exercised in
the conduct Of bank business, no
bank can fail to pay its depositors
in full, even though temporary con-
&1itions might force a suspension Of
business. H.. o. Z r. @g&i T., - -, : sit%%
+ The banks that fail and whose de-
40 . u e. 1. ~. =.
I: positors are defrauded are such
banks as are speculatively rum dis
honestly conducted and unlawfully
managed, such as a bank In this
state, one of whose chief officers re-.
Gently disappeared after using the.
funds OF the institution to his own
purposes. It would hardly have been
fair in that case to force honest
bankers to pay for the peculations
and thefts Of the banking official in
I question. We do not believe that
proposition needs argument. '1 tx Ell s$
AZ TO initiative and referendum,
i IL Al by no means certain that d.
rect Iegfslation and references Of laws
swesld ~ y panacea. When We have
fuo Oh three nstitutionai amend
nents. We nnd that the interest In
To election of omcers 80 OVERHEAD
~ the otaer questions that the vote
~ the amendments ID considerably
sbeieN the total vote Of the state.
vhat might and probably would be
~ result i there were fifteen or
twenty matters Of legislation, In
S'yGIsfng complicated propositions Of
~ put before the voter on 9 busy