Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-01-02
4 SAVE coNsTIrurIoN.


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It may have been noticed tina:
some Of our democratic contempor-
aries IN New Mexico seem Il think
they can make political capital out OF
the fact that the pending statehood
bin undertakes TO throw some safe
guards aroun the fundamental law OF
the new state by providing that the
constitution shan be adopted and sub
mlfted 10 congress for approval.
before a vote IL taken on the bill
FOR the admission. We should regard
Il as o waste Of time TO give serious
attention TO any Of the nonsense in
dulged Ia by our democratic neigh
bors on this point, but would sug-
gest TO the voters of New Mexico
that they might learn a valuable
lesson IN regard TO the evils likely to
spring from Il crazy quite cOnsti-
tuition. by a careful pcrusaI Of the
following editorial from the Enid
Eagle. one Of the leading papers Of
the state OF Oklahoma. We copy az
follows.
Tho Eagle listened TO a story yes
terday which would be wei worth
publishing II the gentleman who told
II would permit his name TO be used.
But De Is in the ministry and does
not want 20 get mixed up IN politics.
He Is interested ia the construction
OF a new church edifiee and desired
70 secure "A loan from the usual
sources from which such loans are
secured. So he went east and made
his application. Being connected
with men 81 national reputation IN
his denomination he anticipated no
trouble. Certainty We can get you
thu loan, these men said when APP
preached. And they started out 10
Ret il. The nrst man approached,
the president Of u large trust coms
pany. said Sorry we cannot acc
commodate you. but We do not loan
money IN oklahoma The second
man said the same. The third man
answered ditto. The fourth replied
ia kind. Ana each one gave the
same reason. Your law makers
down there do net want TO give capt
tai q fair chance. Your constitu-
finn "a the work OF an aggregation
Of demagogues. We can LOAF our
money In states where the people
do not elect such men 70 office aud
we have decided 10 keep out Of OK
lahoma." And each banker, each
trust company president, each imam
cier approached had a copy of the
Oklahoma constitution ready at hand
and read extracts from IL TO the min
lister who applied FOR the loan.
Then, "a friend suggested, 1.-THE
Penn Mutual Life Insurance com
pnnv Is making loans in oklahoma,
let MS see them SO the minister
went with letters Of Introduction TO
the main office OF the Penn MUTUAL.
lie made his way 20 the inner circles.
mo. thank you, said the Penn Mu-
tuat. we age not loaning any
money in Oklahoma directly, you see
your constitution. etc. etc, and the
clergyman was again confronted
with "a copy OF the document and list
oned TO "a TRADE against oklahoma
demagogues.
"Rnt you are loanine money there,
the minister Insisted
"Oh. Aes. we have placed q Few
rive per cent loans through 81 Dallas
loan company You see. we charge
the Dallas company five per cent and
they loan tho money ott VA Oklahoma
1T NiAAt iNff fhNAf tNls' fNNAA titAiN
q get the difference ina Interest We
would he Eiad 80 let your people have
the none at fiye per cent hut Your
laws are such that we annot make 2
loan direct there without great loss
20 us. $50 sou psy the higher rate and
the extra interest is just che difference
between your laws and tho laws nt
other states
The minister gave 80 up and came
back q oklahoma empty handed.
II have learned something" bic
said. "Ouf people are paving dearly
Tor their constitution ] didn't know
Il before
s oklahoma borrowers continue
70 pay eisnf Per cent interest Tor five
per cent money and 90 defy capital to
come in here and build mp industry,
give employ ment TO labor and enrich
the country as BE- does BOZ ether states
indeed IS che oklahoma eonsu-
The proud h1ndiwork of fare
demoeracl Il Is indeed the
beautiful flower which row ~ "a zn-
illogical garden cultivated by fronks
ana its aroma hss scented the entire
financial world