Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1912-11-09
Topics, with Some
Men of the Day.
on Live
Leadin6

institutions depends the welfare of the
entire city In its business and CONNER.
cial life. while methods Of a 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.
tons, 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 Hnnnciers. should he Of a charac.
ter that would he 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
Alderman John Czekala Is pleasing
the citizens of the Sixteenth ward by
the fine record he is making in the
City Council.
~
The proposed extension Of the terms
of Office Of aldermen and other city
officials to four years should be beat.
en- In the legislature. The object Is to
remove these officials as far from the
people as possible.
II the "Recall" was part Of the Con.
stitution, II would not make much DIFF.
ference how long an official's term
was. They could be recalled at any
time. Until the Recall is adopted, the
shorter the term OF Office the better
for the people.
The Telephone Trust 10 the most
grinding Of the many trusts that exist
/ in the United States.
It snuffs out competition by the
power of It's money and the people
are like SO many serfs to be used at
its own beck and call.
The rising tide Of indignation will
never subside until the whole Tele.
phone Trust and its aides and abettors
are punished.
Alderman John H. Helwig's fine rec.
ord In the City Council 10 credit to
himself and the people Of the Seventh
ward who elected him.
On page 81 Of the annual report Of
the Bell Telephone system for 1912
we find the following ingenious state.
ment excusing the raising of rates:
Wherever these rates have been
increased It has been done by and
with the consent Of the subscribers
to the exchanges, and with the direct
authority or acQuiescence Of the pub.
lie authorities"
This 10 certainly good. Il would
be safe guess TO say that the con.
sent Of the subscribers" was never
asked but that rates were raised
with the direct authority or acquies.
cence Of the public authorities"
Are the public authorities Of the
city Of Chicago going to acquiesce in
o raise Of telephone rates?
| Alderman Bradshaw, OF the Thirty.
third ward, IL making the excellent
record In the City Council that every
one Of his friends predicted he would
make.
II 10 about time that the state OF
Illinois came to the rescue OF the
people and passed Q law prohibiting
the misuse Of the name bank.
AZ matters stand 1t present, any.
one with money enough to hire and
equip q store can paint the name
bank on the front windows and 20.
licit and receive deposits without let
or hindrance.
Every year hundreds Of people
lose their savings through the failure
or collapse Of one or more Of these
wildcat institutions.
Legitimate banks which are In
themselves guarantee OF security,
are passed by by thousands Of sim.
pie and gullible people who are
charmed by the advertisements and
cunning allurements OF men who
never did any legitimate banking and
who never intended to do any.
The Chicago Eagle has often re-
ferred to this matter before and II
again urges upon the legislature and
upon men who are seeking seats In
the general assembly, the necessity
for passing law protecting legiti'
mate banks anG prohibiting illegiti
mate ones.
~0A
Alderman Joseph A. Swift, of the
Thirtieth ward, is showing by his
good record in the City Council that
he Is the right man In the right place
~
10y OFFIcEs-NEW CITY NALL
City Architect.
| TAnth AoOr South and