The Norfolk weekly news-journal., 1909-01-08
lew REGIME
IN Nebraska.
Governor ShallenbeTger Takes
Oath Of Office.
INAUGURAL ADDRESS IS READ.

recommends Guaranty OF SANK Lepos-
its, Improvement OF Primary EIec-
ton Law and Changes in ADMIN.
istration OF State ln5t,tut,ons.
Lincoln, Jan. Tt Is now Governor
Shallenberger. Ashton G. Shallenber-
ger was today inaugurated as Ne
braska's state executive and George
Lawson Sheldon retired from that
position. Other newly elected state
officials were also inaugurated today
Sheldon's Sensational Plea.
Retiring Governor Sheldon, in his
farewell message, recommends the
sterilization of convicts by surgical
means in order to prevent offspring
from the criminal class. In support
of his recommendation he pointed out
the power of hereditary influence,
showing how many criminals are be-
gotten by criminal parents Thousands
of criminals have come from one
criminal parent at the start.
He also reviews the reform legis-
lation that has been accomplished
during the past two years under his
administration. This includes the 2
cent passenger fare law, railway com
mission legislation, etc.
Shalenberger for Bank Guaranty.
In his inaugural address this after
noon Governor Shallenberger declares
that Nebraska needs a bank guaranty
law. He would levy slight tax on
all bank deposits. His plan is similar
to that suggested by Bryan,
He recommends revising the reve
nue. law so as to restore precinct as
SCISSORS.
He would empower the state rail
way commission with authority to take
the physical valuation of railroads.
He would give both Omaha and
South Omaha complete home rule.
Hits Primary Law.
He hits the primary law as unsatis
factory and unfair in many provisions
The expense is enormous The alpha
betical advantage should be elimin
to nominate county officers and select
state convention delegates.
State conventions should be helC
prior to the primary, drafting plat
forms in advance.
Mr.. Shallenberger still favored the
ankle recently fractured and askeC
that the ceremony be fastened "a
much as possible.
Favors Bank Deposit Guaranty.
The inaugural exercises took place
at the state house, and the chief JUS
tice Of the state administered the oaLl
OF office To the new officials. The mes
sage of the retiring governor was read
Governor Shallenberger had wei
prepared speech, which he delivere,
Immediately after the inaugural oatl
was administered. In part, he said: 81
is reluC..u LpUn our American civ
ihzaton and business methods t
loAgor fan to provide an inSuranc,
guaranty fund and banking law, whicl
will make every dollar deposited IN {
Nebraska bank, absolutely sure OF be
ing returned to its lawful owner upor
demand. Certain deposits are now Sc
cured in state and national banks b!
safeguards in addition to the grsran
ties which the law eXaCts of the bank
er to protect his individual depositor
the county, the state and the nation
having found by experience that tn,
securities which the law provides 70
the ordinary depositor are at times in
sufficient, and therefore required tina
the banks shall at their own expense
deposit bonds as additional securit!
to protect them against any possbil
ity of loss. There can be no rule o
business ethics which makes it Just t
secure the state and the nation ant
deny the same protection to the md
vidual depositor. The only question 70
you to decide, it seems to me, is a
to whether or not the proposed add
tional guaranty fund can be create
with the certainty that it will proVid
absolute security to the depositor an,
not place AN unfair burden and re
sponsibility upon the banker. be
lieve that the desired security can b
obtained by leyying a light tax upol
the capital stock OF each bank trans
acting business under our laws, thu
providing guaranty fund to pa
promptly any possible loss to a de
positor by reason of the failure of
state bank, the amount of such tax {
be a certain per cent of the averag
deposits as shown by the reports @
the department OF banking, ana pay
ment TO be made at stated periods an
for fixed amount. The minimum
capital required for the incorporate
OF Z state bank should be increased t
al least $4,000. Bank examination
should be made twice a year, instea
of once, as now required. Examiner
should be assigned to a certain teri
n tory and thus eventually would b.
: come familiar with conditions and 5,
curities in the locality and would a.
auire the necessary knowledge as t
the worth of the bills receivable q