Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1911-03-11

III uu0 style LOT r0.nOm1nattOn. He tS
one Of the most popular ofiicials in |
Chicago and will be reelected in April |
by big plurality.
Alderman Fulton is winner for re.
election In the Thirteenth Ward.
~e)oA
Henry Stuckart's candidacy for City
Treasurer is popular one all over
the city.
There 10 general demand for the
abolition Of boulevards.
They are maintained exclusively for
the rich at the expense Of the poor.
They are used exclusively BY per.
sons owning automobiles and are
kept up By the taxes Of people who
do not live upon them.
When people Of moderate means
we're enabled to own and enjoy the
driving Of horses, the boulevards were
the delight Of the common people.
Il 10 different now.
People who live upon streets that
are not boulevards can only have
them improved by putting their hands
In their pockets and paying for the
improvements themselves.
All property upon streets not boule-
varded 10 subject to the levy Of spe.
| cial assessments for the Improvement
and maintenance Of such thorough.
fares.
Property fronting on boulevards 10
rot subject to special assessment.
The Improvement Of boulevards and
the maintenance Of these costly lux.
uries IL paid for out Of the park taxes
levied upon the general tax payer,
who reaps no benent from his outlay.
Trees upon boulevards are main.
tanned out Of the general park taxes.
levied upon all taxpayers.
While the general taxpayer pays for
the boulevard trees, he has also to
pay for the trees In front Of his own
home and 10 then informed by the
city council that no does not own
them.
Special privileges to none. but equal
rights for all 10 the slogan that 10
growing IN volume.
The people cheerfully contribute
to the maintenance Of parks. but they
are unwilling to be bled longer for
boulevards.
The boulevard az q taxeating load
on the general public. must 60.
A stringent State law 10 needed to
regulate the establishment OF banks.
There are too many wildcat financial
schemes now In existence In Chicago.
Not wishing to compete with the big
banks. irresponsible people are starting
up small banks In the outlying districts
Of Chicago, from time to time. This
practice has had disastrous results
upon the business and financial inter.
ests Of the entire city. Many hundred
small business men and traders have
been ruined by this class Of institu.
lions.
This nefarious practice should be
stopped and the only way to stop II Is
by municipal legislation.
A provision ought to be made In the
city charter authorizing the city under
is police power to regulate the estab
lishment Of banks and creating In
pursuance Of this work q board for
the examination Of all proposed new
banking concerns. Snch board
should be given ample power to exam.
Inc into the financial standing Of the
promoters Of these institutions, and
none should be allowed to be licensed
unless such as could show assets ample
for the carrying on of their business,
sufficient to cover the amount of their
deposits, and sound and substantial
enough to thoroughly protect their
dep0sitors.
There can be no question as to the
right and the Justice of the city to
exercise such power under a properly
constructed charter provision. II the
city has the right to regulate plumb.
ers, to regulate engineers, to regulate
the electrical business. to regulate pawn.
brokers and the scores OF other busl.
ness enterprises and industries over
which 1t exercises unquestlOned super.
wishing powers, It certainly has q per.
feet right to regulate the banking bust.
ness, which Ia Of far more Importance
than anything In the line of business
In the city. because upon the legitimate
and honest business methods Of these
institutions depends the welfare Of tho
entire city In Its business and CONNER
clal life, while methods of contrary
kind INDUCED in by small, irresponsible
speculative concerns only results In
failures that involve injuriously the In.
terests Of the entire community. How
often have we seen It that the failure
Of one Of these little banks. started
upon Insecure and irresponsible founda.
lions, and doomed by fraudulent and
false representations. have dragged
down to ruin hundreds Of good. hard.
working, thrifty and deserving citizens.
The licenses Issued by the examin.
Ing board, which, of course. should be
composed of responsible citizens and
able financlers. should be Of charac-
ter that would be absolutely prohibi.
tive Of all schemes and projects for the
establishment of phony concerns Of this
kind.
This would be welcomed by all sound
and responsible banking houses,
whether private or national.
Banks like the Hiboruian Banking