The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1909-01-21

towns would, he depr.Vedsof banking
facilities which they now ENJOY. Our
State banks are the creatures of our
own legislation. They have blessed
the State, and especially the smaller
towns. 7 have thought proper to
mention bank deposit guaranty. A
compulsory system is advisable but
not necessary. I believe the same
purpose will be accomplished by en-
acting a guaranty law for the bene-
fit of those banks which desire to
avail thmselves of its provisions. Let
provision be made that when a GER
tain per cent. of the State banks, say
sixty, representing a certain per cent.
Of the State banking capital, say ff-
ty, shall file with the Corporation
Commission, a request to be admit
ted to its provisions, the Corporation
| Commission shall certify that fact to
the Governor, who shall proclaim the
act to be effective from and after
the first day of the ensuing July or
January, which ever comes first, up
on all such banks and upon others
which may thereafter file a similar
request. Should the Legislature ia
vor the policy the details of the leg
islation will not be difficult, and any
fear that irresponsible and unsafe
banks might be organized al be al
layed by appropriate provisions.
Railroads.
Every thinking man realizes that
railroads are necessary, that they
bless every community they touch,
that they must be profitable in order
to give proper service, that they de-
serve fair treatment at the hands OF
Legislatures, and moreover that any
legislation that would deprive them
of just compensation would be futile
under the constitution. The people
are willing to be charged such rates
for travel and freights as will pay
the legitimate expenses of every
kind and character, including liberal
wages to all employees, keep up the
roads in good repair and safe condi-
ton, and then pay fair dividends
upon the value of the property. But
the people are not willing for com.
panies chartered for the public bene-
fit to exact from the public under an
almost unlimited power to extort
when unrestrained by law, additional
rates to pay dividends on fctitiou:
values or to enable railroad magic
; ians by trickery to make millions
over night, or to justify them IL
; saddling upon the public millions Of
securities in watered stock. In ny
Judgment the fundamental wrong IL
the American railroad problem /
: watered stock.
J The last Legislature reduced pas
!, senger fares. The rates now in force
I which save thousands of dollars an
q nually to the people. from the oil
: rates, have been approved by tn
railroads as just and reasonable. TIL
conditions justify us in anticipating
no agitation for any change in pas
: senger fares during the term of tn
incoming administration.
J: The determinations in freight rate
practiced by railroads in favor o
= some and against other cities is prop
erly receiving much attention.
u Some of our North Carolina cite
= have been compelled to pay million
= of dollars of freight ove and abov
what other cities have paid for III
:: same distance. The freight on a CO
load of corn from Cincinnati !
: Greensboro is much more than tn
u freight would be should the car 3
on to Lynchburg. A a load of mn
~lasses from New Orleans to Lyncl
burg pays less freight than if it stoI
in Charlotte. In no case shout
~ a community be charged more tina
= a Just rate for the service rendere
it, regardless of profits or losses {
"A rates to other cities.
- Economy.
In the Treasurer's report it a
n pears that owing to the value OF o.
III taxable property not increasing
er much as the last Legislature antiC
10 pated our expenditures for the Ia
II two years exceeded u receipts. II
fact emphasized the necessity
AZ practicing the governmental Writ
to Of economy.
rt The sentiment of our people al
We our financial strength forbid par
ty mony, but there are limitations up
Mt our treasury and the Legislature W
regard these limitations and displ
Dis that wise craftsmanship which W
appropriate justly for all worthy pr
he poses and yet keep the appropriate
re. within the bounds of probable rev
is nues, bearing in mind that surplus
ne usually more desirable than a defc
NJ The Legislature will make prop
av provision for refunding that part
on the State debt which falls due
Ids 1910. -,
FOR The Governor ends with a sC;taI
and pleasant pe~roration.
ho Very Cold in the West.
ON Chicago. ILL.,, Special.-Cold W
av- Their is general in the northwest a
"a L. zon4l ord CnnthWnSt(