The new era., 1910-08-18

be paid for out of the fund to which
that the bank commissioner win al
ways be @ informed II the first indiea- s,nSa
holders and directors of banks Will
readily put up more money. when Its
capital Is first impaired. and notice to
such Information from the other banks,
Will cause the putting up OF additional
aa %s4d ,enasney nas thu. WHICH na ths 1ssSs
In the banks failure. It Is only when
the capital is almost exiting guished that
ticits. Under the vigilance caused BY
the interest Of each bank 1t would be
very ease of mind caused by Bank
Guaranty fund to the bankers them
selves would be ample remuneration
aap1s anty rund. No 'H eendision Is is more MOI nor
tight. that a run might be made upon
bank. often caused by false and un-
iU itors In banks is said to o's have Il been pV on
per cent year. This is mere baga-
the great profits made by them In
lending out the deposits. Everything
adh and the 81 states i' guaranty @ is one OF the
| things which Will cause more conf
dence in. the banks than any other
will bring forth boarded moneys to the
amount of hundreds of thousands of
banks and the acceleration OF business.
l received communication few
weeks ago relative to the operation Of
| the Oklahoma Bank Guaranty Law. 1t
Of the Bank Guaranty Law in okla;
every dollar of deposits had been paid:
that in the % same time , three aanas,3na national
| had received not dollar.
1t Is contended that as such law
guarantees the deposits of both small
md lnr II IL rrrtll fnl dan ~
from the large, to the small banks.
That has not been the experience In
esss where There he
tages in dealing with bank of large
capital. which prevents any such con-
state. no bank can lend to one person
an amount more than ten per cent of
with a bank Of only SIS, 900 capital can
only borrow $2.5OO.O0. which may be to-
tally inadequate to his needs. while he
with capital Of 100000. This con-
dition almost compels the large dealer
| to keep his account In the banks or
| large capital.
Bank Guaranty Law is that it compels
surance su eompanies The premiums Of
losses OF the sickiy men and no com
pany charges a less premium to
takes away even that argument from
the banks. for it provides that II any
! guaranty fund the amount assessed. 1t
can by bond guarantee Its own de-
ers'of ers Of bank. e c Who Control ' and manage
the moneys of Its customers. are not
willing to guarantee ZEE, Its deposits. 9srs how how
snme that risk? Every fnapeia az ;na of
riOuS COMMITTEES and cities of this
country, require security for their de-
posits: Why should not the ordinary
i depositor have the same protection?
The Kansas State Bankers Associa-
tion, through it's president and secre-
tary. has recently en- ~ published rsrsnfS sIsqng
| Law of that state.
/ The conditions in the state Of Colo
rado are exceedingiy prosperous at the
future day be bank failure. AS banks
)! are now able to pay to a fund a small
the depositors. and are able by bond
to guarantee their deposits. then surely
now is the time for the enactment Of
Public Service Commission.
On account Of the growth Of the
business of so many public utility, cor
porations. a commission on mission In ,,1c,, my 1uas
with care and after fun investigation.
regulate and control the same
II The state of New York has adopted
and Its operation has proven very SUE
cessful and beneficial to both the pub
I lie and the utility companies.
Il Corporations are to be treated fairly.
u but at the same time they should not
4 be permitted to extort from the pub
lie unjust and discriminating rates. nor
by arbitrary action refuse to accom-
modate the public. One of the greatest
:, evils. arises from the over capitaliza-
,tion of such corporations and the en-
deavor to make the public pay divi-
dends upon such watered stock. To
,tra hnT
can Increase its capital stock. to OBJ
4 tain the consent of Public Service
Increase only upon showing of value.
i Is bound to produce most wholesome
effect. The right % every one of these
corporations to do business in state
exists only by virtue of a charter given
to it by the state, and 1t Is proper
be protected by a controlling power
being vested in a commission.
Il Railroad Commission.
i A recent decision has been rendered
declaring the railroad commission act
of this state unconstitutional 1t is
| therefore essential that there should
he some power vested in somebody by
porations 1t should be vested in the
l Public Service Commission. but If that
should be created Railroad Commis-
sion to prevent the imposition OF un.
5easSnable rates and ehafges' nn1uss
service, the giving or receiving of re-
bates, and all other unjust things det-
! rimental to the people. Every state in
/ the Union except Delaware, Wyoming
and Colorado has such a Railroad Com
mission; some of them are exceedingly
| efficient and effective and there should
be such a commission in this state.
i AS long railroads are permitted
to Issue passes to the people, so long
Z! will they have an undue influence in
the framing of laws and in the obtain
Ing of special favors and PRIVILEGES
from the various Officers of state,
county and city governments The in
! fluence of railroad companies begins
/ with the holding of conventions of each
! of the political parties. At one of the
political conventions held several years
ago, 1 asked at the window OF the
| ticket office at the Union depot wheth-
er. on account of the state convention
/ held at a certain place. they did not