Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1911-04-28
BANKING MEASURES
BEFORE SENATE
ONE, TIE GUARANTY SUBSTI-
TUTE. CREATES A "DEPCstT-
ORS' INSURANCE FUND"
LITTLE TILT OVER TEXTBOOKS
Bill by Mahon Provides to Bring About
Readjustment of Prices on
School Books Sold in State
Of Wisconsin.

Madison.--Two important banking
bills came into the senate from the
committee on corporations. One is a
substitute for Senator Owens guaran-
ty of bank deposits bill by Owen him
self, and the other giving broad pow
ers to the commissioner of banking in
determining whether a charter for
new bank shall be issued in certain
cases.
The guaranty substitute creates a
"depositors' insurance fund.- which
would aggregate in three years, 1t IS
estimated, 100000. Each bank is
required in the bill to set aside annu-
ally one-half of one per cent. of it's to-
tai deposits toward this fund, such
contributions" to stop when the total
in the state reaches the sum above
stated. The share of each bank in
that fund stays in the bank, but Is pro-
tected from certain uses common to
banking and is subject, in case of fail
ure In the state, to draft by the COM
missioner of banking. The new meas
ure Is the result of nearly three
months of study by Senator Owen, and
is said to meet most of the objections
offered by the bankers when the orr
ginal bill was up for hearing.
For two hours the senate debated
the Social Democratic resolution to
make the recall apply to judges. The
subject came up In the form of an
amendment by Senator Gaylord ex-
tending the resolution on the calendar
to the judiciary. Senator Gaylord
spoke on the amendment, and when
he got through Senator Bodenstab
took the floor and made the most
startling attack on Social Democracy
yet made in the legislature.
During the course of his argument
he declared that 'at least half of the
leaders of the Social Democratic par
ty, instead of serving office, should be
serving In prison, because they work
on the passions of the weak, who be-
lieve in their sincerity
After the Gaylord amendment had
been voted down, the substitute reso
luton for an amendment to the consti
tuition providing the recall was adopt
ed, 20 to 7.
The Gaylord resolution increasing
the pay of legislators, was adopted
after 1t had been amended to read
$500 a year instead of $1,000 per ses-
sion. The resolution cannot go before
the people until it has been approved
by the 1913 legislature. The Husting
resolutions for amendment by initia-
tive and for national referendum, ini-
tiative and recall were adopted
There was little tilt over the Ma
hon text book bill, which seeks to
bring about REIMBURSEMENT of prices
on school books sold In Wisconsin,
Mr.. Mahon asked that the bill be re-
referred to the printing committee, be-
cause of some needed changes. Mr.
Viebahn, chairman of education,
asked that 1t be sent to his commit
tee, but Mahon objected, saying: Il
don't want this bill to be referred to
committee where it's teeth might be
pulled. The printing committee has
studied this question and it is well
able to take care of the bill"
Mr.. MahOns contention was recog
nized and the bill went back to the
printing committee
There was another debate on the
Kay bill, abolishing the office of
county supervisor of assessment
Several of the members testified that
the assessors In their districts were
not satisfactory, but none of them
contended that the law was at fault
Corn strip is memory in the Wis
consin legislature. After fight that
has been waged since the session
opened, the assembly killed the bill
introduced by Mr.. Perry. The vote
that killed 1t was IS to %. After the
bill had been indefinitely postponed
there was a motion to reconsider, and
this was refused by the same vote.
This kills the bill permanently so far
as this session is concerned.
Post-mCrtems on the corn strip bill
have brought out the belief that too
much lobby caused the death of the
measure. Members of the house were
favorably impressed by the speeches
at the public hearings ON the Perry
measure, but the continued presence
of lobbyists who were known to be
working for it's passage created
prejudice that won the day.
In the absence of a full mem
bership of the Republican majority,
the Democrats and Social Demo
Gratis in the assembly made an unsuc-
cessful effort to secure the repeal OF
the law requiring candidates at the
primary to receive 20 per cent. OF
their normal party vote before they