The Red Cloud chief., 1909-01-15

Sa legislature:
To tho senate and house OF representa-
tivcs of the thirty-n first session of the Ne
upon being called to serve In your leGls.
lative capacity ut n time when the state
Is enjoying general prosperity. Nature
has been Kin and her yield bountifui.
Our people are industrious and the dc
mand and prices for their products salts
factory. our population Is not dense,
probably less than one and onc-half mil
lions of people dwell within our borders.
A study of the records of our bureau OF
statistics will show how marvellous have
been the achievements of these later
years. So rich our soil, so matchless our
climate. so wonderful the industry OF our
people that here upon Nebraska soil,
American civilization In ita highest dcVcl-
opment piles UP each year a larger sur
plus OF useful products than n like mum
her Of people can produce upon any
other spot on earth.
with a clearncss Of wisdom and under
standing ns to the purposes ana POSSIBLE
ties Of Legislative enactment, n stcadfast
and successful people will not expect oi
you impossible things or UNREASONABLE
laws. Having wrunE year after year,
great riches from n generous soil. they
now know hat they can compel prosper
lty to abide with them always. They vii
however, expect Of tho party, whose
members ontrol this scratc and tho
house, the specific legislation pledged IL
the platform upon which you were
elected.
Governor Sheldon has detailed to YOU
the result OF his administration or state
affairs, and you have listened to his rec
concentrations. l urgc that you give
earnest and careful consideration to nj
that he has said.
I shall briefly call your attention u
legislation. the prospect and hope o
which. In my opinion, has II aoou'
this change I'm the control of the cxecu
tive and legislative departments OF stat'
government. II Is FIRST to be noted Una
no new or radical legislation Is asked for
Every suggestion IL but to amend, cor
rect. or improve some existing law.
AS a general rule. we already have TO
! many laws incumbcring our stalu'
hooks. Many are good, some lmperlec'
n few bad. The good should be let alone
tho impcrfectlons cured. the bad repeated
What is needed. in my Judgment, Is a
honest and fearless enforcement OF I'll
laws that we now have, rather thar
constant cry for new laws, and new law
"a an excuse for inaction and delay
Tho matters to which l wish to ca
your especial attention are not numerous
bu, I believe them to he important.
shall present them to you under scpn
rate heads.
SUGGESTIONS rs TO improvements In o.
Barking Law.
Andrew Carnegie has said, "Americ
has the worst banking system In u
world" | scarcely think the facts wal
rant such a statement, but will ventur
the opinion that we have not the bef
system that Il is possible for us to obtai
md nothing but the best should be goo
enough for the people OF Nebraska. gu
present law is very much In advance !
all that pertains to safe and proper bank
Ing to the law which proceeded 1t. N
one will venture to maintain that the on
now in force, is perfect, therefore. W
are warranted in asking for stili furthe
Improvement. The primary purpose 10
the establishment Of banks so far as IN
public is concerned, Is first that the peo
pie shall nave IA safe place TO deposi
their money, and second that those VIII
need them may conveniently obtain fund
upon proper security after tho none
shall have been gathered together by IN
banking corporation.
The ideal system Of banking will guar
antee to depositors the absolute certain
~ OF the return Of every dollar deposit
ed, and this will insure the greatest pos
sible volume Of loanable funds in bank
for the needs of business. The state an
nation should see to IL that every safe
guard shall be provided for the securit
OF the deposltor since they permit an
authorize the receiving of deposits undo
the sanction of a charter granted by IN
state.
From time to time, these guarantee
have been increased until losses to de
p~ositors are rare indeed. The report {
the comptroller of the currency for 100
shows that n tax of one twenty-sixth
one per cent levied upon the deposits !
national banks during the forty-fiye year
that tina system has been In e~xistenC
would have raised a sufficient sum so tht
no person. who had trusted his money
q national bank, would have lost n cen
A study of the figures of our own stat
banking department shows even a moi
satisfactory condition. Only during III
last eight years, has the law provided fC
a complete report from receivers Of faile
banks. During this period a tax Of les
than one-thirtieth of one per cent levie
upon the deposits In our state banl
would nave raised n sum sufficient
have insured every dcpositor against an
possible loss.
With these facts before us, I do n,
hesitate to say that It is a r~eflectio
upon our American civilization md bus
ness methods to longer fail to provide a
Insurance guaranty fund and bankin
law, which will make every dollar do
posted In n Nebraska ban absolutel
sure OF being returned to Its lawfl
owner upon demand. Certain deposits al
now secured In state and national banl
by safe guards In addition to the guar
antics which the law eXacts of the bank
or to protect his individual deposito
The county. the state and the nation hay