The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1912-10-24
4 BANKER.
GOVERNOR
HOW L. D. HANNA COULD MIX
fDIo BUslNEeS" AND POLITICS
TO HIS FINANCIAL
H ADVANTAGE
! GREAT OPPORTUNITY

1 GREAT OPPORTUNITY
4 Danksroovsrnor Gould Make S2sr
600 to $4,000 for Himself and
:. Associates on Bank
fNs Deposits.
Congressman L. b. Hanna has re-
peatsdly said politics IL business"
HE statement IL true. The only de.
"Whose 1uslnsss?"
It 10 the debate on that question
that has aroused the American peo-
pie today az they have never been
aroused before. Big interests, syndi
Gated wealth. privilege-seeking corpor-
atoms have been making politics their
business. That's how they became
Zig and powerful. The people. the
farmers. the mechanics, the small
business man, are now saying they
propose making politics their bust.
psss.
Mr.. Hanna 10 a big business man, a
big banker. directly or indirectly in.
tefested in q chain Of banks cross.
sectioning the state. The nucleus Of
his wealth has been rapidly and vast.
" multiplied during the last seven,
teen years and during these seventeen
years he has been actively engaged
IN politics. 80 politics and business
must have been highly profitable to
Mr. Hanna, for he has ostensibly Civ.
"a more time to politics than to bust.
Hess. ~ E''-l. a
II is reasonable to presume that
NJ. Hanna, 90 . banker-governor,
S6sld not sacrifice his business in.
esrests. divorce politics and business
Is 0eotsd governor. There are Ger,
pain business opportunities for .
hanksr-governor in North Dakota that
e4ees the governorship at high pre-
nfum. with politics and business in.
eeDafabae. It 10 not saying Mr.. Hanna
would avail himself Of the opportuni.
- to make $4,000 to $4,000 or more
Z year. make it legally without the
Investment Of one cent other than the
Investment Of few thousand dollars
for campaign expenses. It 10 q good
Investment, this Investment in poll.
tics, that makes 1t possible to collect
interest in the thousand percentage
column.
Here 10 business problem in state
politics that every tax payer and
those who have not enough worldly
goods to pay taxes on, should care.
fully consider. analyze. and arrive at
their own conclusion.
Section 232, of the revised code Of
North Dakota reads:
IAN funds Of. the state shall be de-
Dosited by the treasurer in one or
more designated state or national
banks In the state Of North Dakota
on or before the first day Of each
month In the name Of the state. Such
bank or banks shall be designated BY
the board Of auditors in conjunction
with the governor"
What bank or banks" do you sun.
pose Q banker-governor would desie.
nate a. depositary or depositaries?
His own and those in which he IA a..
rectly or Indirectly interested. or the
little banks throughout the state in
which he Is not interested?
The state has on deposit approxi.
matsly 100000 year. The banks
are required to pay the state from 2
to per cent interest. The legal rate
OF In crest that may be charged on
loans 10 IL per cent. Twelve per cent
interest on 100000 is $4,000 a
year: This $4,000 interest is paid
TO the depositary and the depositary
then makes division with the state.
gives the state 100000 IL 1t pays the
state per cent and keeps $180, 900
for the special privilege Of loaning the
peoples money paid in taxes back to
them at an exorbitant rate Of inter.
est. Take pencil and paper and az.
ure It out yourself.
Do you think a banker.governor
with the legal opportunity to make
$4,000 q year for himself and his
banking associates, without q penny
Investment other than campaign ex.
penses. would throw that opportunity
aside!
The law provides that banks shall
give bond and pay the designated in
terest on the amounts apportioned Ia
them. Reports Of daily balances
show that deposits in certain of Han
mas pet banks have exceeded the ap
Rortionment covered by their bond
Ehe sum Is neither protected BY bond
nor DO the banks pay interest there
on; 20 the banks under such circum
Stances would take all Of the IL Do,
cent they collect on loaning out STATE
funds.
The law provides that no deposi,
shall exceed one half of the capita
ana surplus Of the depositary. Ons
o. the banks mentioned has q capitsl
hnd surplus Of 100000. It could
therefore be legally entitled to 5000.
900 . year Of state funds, and reck
pnsd on the legal rate Of interest
charted for loans. make q profit O,
$4,000 . year. With one such bani
alone Q banker.governor could IN
Iersess his income from 5000 . yea,
70 $4,000. through politics and bust
eess. And II he was interested in {
string Of banks hs could further IN
efease his income in like proportion
State funds are now wisely distrib
.1ksd throughout the state among ap
pro1imately 300 small banks.
Do you think . banksrxoyefuo,
0ould b inclined 70 contract thii
psade circulation into his own bank
~ leave the money whore he cord
pako nothing out Of It? Would Il: 81
n 620kAFSa f,16OwnmSS - ~. III -.