The Colorado statesman., 1910-08-13

| tion and overshadow all other ques-
! tIons, IL is almost Impossible to con-
centrate public attention upon the vote
| of a representative. The law OF the
Initiative removes the temptation OF
! Legislators to vote against the will OF
| the people, because IL removes the in
| terest of those seeking special privil-
| in their votes. Special interests are
! not going to offer Inducements to
members of General Assemblies for the
| have the measures submitted to them
and their decision be final. This law
| would therefore produce a purifying
! lature. Under the Initiative law the
| appeal in behalf OF measures must be
] to reason and not to selfish motives.
| As those who are not Intelligent are
not likely to vote upon measures sub
mltted, the law acts antomatically as
the most intelligent expression of the
| people
The Referendum is veto of the
| electors upon any measures passed by
the General Assembly which is regard
| ed as detrimental to the public well
| how reprehensible the legislation may
| be. the obnoxious statute remains for
| the full term of two years. and as 1t Is
| very difficult to repeal legislation. IL
| often remains in force for decades. As
laws passed by the General Assembly
control and govern the people. II Is
only right and fair that If an act is
| Objectionable, that they should have an
| opportunity to defeat the same.
| for the enactment OF these measures
| is local to the state of Colorado, or
! partisan. are sadly mistaken. The peo-
| pie of Maine. oregon, Missouri; titan;
| South Dakota, Montana, Nevada and
| Oklahoma have by large maiorittes
/ adopted constitutional amendments for
the Initiative and referendum. A great
/ number of cities, by vote. have made
/ these measures applicable to their re-
spective municipal governments.
Many recent platforms of the Demo-
cratic and Republican parties in con-
ventions of various states have de-
manded the enactment of these prln-
ciples of government. The movement,
providing for the Initiative and Refer
endum is now well under way in
thirty states in the Union. The contest
in the national House of Representa-
tives against the rules of that body,
! speaker. was a spontaneous expression
of the representatives in behalf of the
rule OF the people noIsh The mo movemeae ns ~ m
Lords has it's foundation in the fact
that it is not representative parlia-
The law of the Initiative and Refer
to the people, and that has always been
can forms of government.
The Pure Australian Ballot.
BY reason of the fact that the names
of unfit candidates are placed with
inees on the same party ticket. II is in
the interest of good government that
the law should provide that the voter
Indicate each candidate for whom he
desires to vote, instead of making it
easy for him to vote for the good and
the bad by one vote for a party ticket.
The state is entitled to the judgment
of the voter upon the qualifications of
each candidate who seeks to conduct
the business of the state. Such law
would compel better nominations by
political parties; would prevent the
for or unworthy of public trust: would
compel a closer inquiry upon the part
Of the voter; t as to the candidates cans dates
fore be educational in its tendency.
The Direct Primary Lnw.
Under the present system of nom
F., mating candidates for office. there
men who perpetually control conven
power by reason of being supported
the great corporate interests of such
states. AS delegates are named and
often subservient to the will of few
men. who dictate the candidates and
platform declarations of the party.
ernment and tends to elect candidates
and pass measures detrimental to the
interests of the people. Under the Di;
from the influence of any other per-
son or corporation, casts his vote for
| be most worthy of political preferment
The Direct Primary Law is not an ex-
| pertinent. NO state whlCn mas
ed 1t has ever repealed it. There are
| twenty-six states OF the Union now
making Direct Primary nominations.
Governor Hughes OF New York, at a
public meeting a few days before the
! convening of the extra session of the
Legislature. which he called to enact
| Direct Primary Law, used these
words:
remain. You cannot get rid of it. try
as you may. 1t is not my issue. 1t
is the issue of the people Of this state {,
| government for their own purposes"
The Bank Guaranty LAW.
The business of banking affects SO
many of the people. both directly and
indirectly, that it has long been con-
sidered proper that safeguards should
| be created and enforced in favor of de-
positors and for the prevention of dis
turbances in financial affairs. The de-
| positor has most vital interest In the
bank. The accumulation of years may
bank is the place where moneys are
kept, and suspension, or failure not
only affects the individual depositors,
but checks Immediately credits and
/ paralyzes the industry of the entire
community; its effect on stocks and
! ates panics and affects the value of all
forms of property. Banks are quasi
public Institutions created and vested
with power to do business by the cor
| porate laws of state. Every one con-
The bankers themselves ask for most
of the regulating statutes. In my judg-
ment the best form of regulation is
by law requiring by either bond or
by the. creation of a fund. the guar
anty of deposits
The most satisfactory law of this
| character which l have been able to
4 find is the Texas Bank Guaranty Law.
| 1t provides that all banks Incorporated
in that state should Isly into fund
for the guaranty of deposits a certain
per cent. upon the deposits held by the
1 banks, as guaranty for the payment
i of the deposits of any failing bank.
| That If the bank does not care to make
such payments, 1t may execute a bond.
with good and sufficient security,
i guaranteeing the payment of its own
Il deposits. BY the creation of guar
anty fund it establishes in the banks
confidence which prevents. or at least